Monday, November 30, 2015

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.

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PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

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