US warehouse club chain PriceSmart has announced that John M Heffner has been appointed executive vice president and chief financial officer of the company, effective 1 January 2004.

Heffner has served as a financial consultant for the company for the past four months, previously serving as vice president and CFO of Kyocera Wireless Corporation in San Diego.

He succeeds James F Cahill, who has served as interim CFO since 5 September. Cahill will remain on PriceSmart's board of directors.

San Diego-based PriceSmart operates 26 warehouse clubs in 12 countries and two US territories, as well as owning a 50% interest in three warehouse clubs in Mexico and licensing 13 warehouses in China and one in Saipan, Micronesia.