Friday, July 25, 2014
Inquirer Daily News

Zarrilli to follow Boni as Safeguard boss

CFO steps up

Zarrilli to follow Boni as Safeguard boss

Safeguard Scientifics chief financial officer Stephen J. Zarrilli, 51, will replace Peter Boni, 67, as chief executive of the Wayne-based company, which invests in small tech firms, effective next May, Safeguard said in this statement.

Zarrilli is a veteran officer of a string of tech companies Safeguard has backed since the 1990s, when it was still run by founder Warren "Pete" Musser. Musser had spread capital through a variety of industries since the 1950s; Boni reorganized Safeguard's holdings to focus on biotech and software firms. 

According to Safeguard, Boni oversaw new investments totalling $315 million in "two dozen high-growth situations," and collected $643 million on the firm's behalf by selling successful firms to buyers including Oracle, Eli Lilly, Shire Pharmaceuticals, McKesson and GE Healthcare while reducing debt and building cash for future investments.

Joseph N. DiStefano
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PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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