Saginaw, TX. Robert E. Parmenter, an experienced corporate financial executive, has joined International Players Tour, Inc., as the company’s first Chief Financial Officer. Ron Beaman, CEO and Founder of IPT, offered the following statement regarding Parmenter joining his team, “Bob’s experience and expertise is precisely what we need to enhance our financial discipline and ensure effective processes in order to manage our accelerated growth in both the U.S. and the international arena. The timing of someone with his skill being available to fill our requirement for a CFO is perfect.”
Bob is a graduate of Stonehill College with a BA and of Boston College with an MBA with a concentration in Finance and Capital Markets. After graduation from business school, he began his business career with British Petroleum (BP) working in the finance department, first in Insurance and Risk Management and later in Capital Markets. While at BP, Bob was involved in pricing the largest ever tender offer for privately placed bonds and the first ever issuances of Foreign Interest Payment Securities (oil backed bonds and gold backed bonds).
Bob left BP to work for Eaton Corporation, where he was initially responsible for managing pension fund investments. Later he assumed responsibility for financial planning, cash management, and accounts receivable management. Bob was elected Assistant Treasurer and ultimately Vice President and Treasurer. As Treasurer, Bob had responsibility for all of the areas mentioned above as well as all capital markets activities, insurance and risk management, real estate and foreign exchange management. Bob retired from Eaton in December 2006.
During his career Bob raised over $10 billion of capital to finance acquisition and expansion, managed a portfolio of complex derivative securities, and established the first regional treasury center in mainland China for a multinational corporation. In addition to being a member of the leadership committee of Eaton Corporation, Bob has served on the non-profit boards of the Boys and Girls Club of Cleveland, the Cleveland Education Fund, and New Hope (a transitional housing agency). Bob is an avid golfer who has been playing golf since his early teens. He lives in Cleveland with his wife Jan and their two children Margot and Li.
Parmenter is excited about joining the rapidly growing IPT. He stated, “IPT is simply an awesome concept with such an excellent management team that I feel deeply honored to be offered the opportunity to serve as CFO.”
