36 treasury & risk october 2009 treasuryandrisk.com

40 Under 40

he financial markets crisis has left us all feeling a little older, if not wiser. Still,

Treasury & Risk has once again identified an impressive list of executives who are

filling key finance and treasury roles at U.S. companies and have not yet reached the

ripe age of 40. This list is intended to be inspirational rather than definitive. It is com-

piled from suggestions that we receive from readers and from best-practices finance

departments and treasuries. The selection takes into account not only the execu-

tives’ title, the companies where they have worked and their responsibilities, but the

contributions they have made. For example, three of the executives on this year’s list were involved in projects

that won Alexander Hamilton Awards last fall. The executives range in age from 30 to 39, and occupy positions

including not only CFO, treasurer and controller, but also risk manager, head of investor relations and invest-

ment manager. As always, we are in awe of the wealth of talent residing in treasuries and finance groups.

T

TalentShinesDespiteCrisis Treasury & Risk’s 2009 picks of corporate America’s

outstanding financial executives under the age of 40

treasuryandrisk.com october 2009 treasury & risk 37

40 Under 40

•38 Vanita AggarwalTreasury director–risk, valuations & internationalToyota Financial Services

Aggarwal’s finance smarts have proven invaluable to Toyota. She co-led the team that implemented a new asset liability management solution, which won an Alexander Hamilton Award for technology in 2008, and led a risk modeling project that won two AHA awards in 2006. Aggarwal has a bach-elor’s in engineering from Delhi University and a master’s from the University of Toronto. ▪

•39 David CharlotAssistant treasurerCareFusion

Charlot is helping build a treasury from scratch at the $4.6 billion medical products company spun off by Cardinal Health in August. Previously, at Tyco, he set up a department to manage intercom-pany financing and led planning for the spin-offs of Tyco Electron-ics and Covidien. Earlier, he worked at General Motors. Charlot has a B.S. in accounting from New York University and an M.B.A. from Columbia University. ▪

•36 Douglas AronCFO and EVPFrontier Oil

Aron joined the $6.4 billion oil refiner as its director of inves-tor relations in 2001. He was named vice president of corpo-rate finance in 2005 and was promoted to CFO and executive vice president in January. Prior to joining Frontier, he served as a banking officer at Southwest Bank of Texas. Aron has a bachelor’s in journalism from the University of Texas and an M.B.A. from Rice University. ▪

•36 Robert EddySVP, finance BJ’s Wholesale Club

Eddy joined the $10 billion chain of warehouse stores in 2007. Since then, his responsibilities have grown to include oversight of all accounting, financial reporting, treasury and risk management. Earlier, he spent 12 years in the retail audit group at Pricewater-houseCoopers, where he became an expert on retail accounting and auditing practices. Eddy has a B.S. in accounting from Babson College. ▪

•34 Jeremy AguilarCFOHhgregg

Aguilar was named CFO of the $1.4 billion retailer of consumer electronics and appliances in September. Since joining the com-pany in 2005, he has also served as controller and director of financial reporting. Aguilar played an integral role in the company’s initial public offering in 2007. Prior to joining hhgregg, Aguilar was a manager at KPMG. He has a B.S. in accounting from Indiana University. ▪

•36 Jason DubinskyTreasurer & divisional VPWalgreens

The $59 billion drugstore chain hired Dubinsky in August from Goldman Sachs Group, where he was a vice president of investment banking working with con-sumer retail companies. Earlier, Dubinsky worked in investment banking at Lehman Brothers and was a senior accountant at Arthur Andersen. He has a B.B.A. from the University of Michigan and an M.B.A. from New York University’s Stern School. ▪

•36 Jeff BrownTreasurerGMAC Financial Services

General Motors’ former finance arm is transitioning into a bank holding company, and since Brown joined $35 billion GMAC in March, he has focused on enhanc-ing its liquidity and on balance sheet strategies. He joined GMAC after 11 years at Bank of America, where his final position was treasurer. He has a bachelor’s in economics from Clemson Univer-sity and an executive M.B.A. from Queens University. ▪

•36 Kelley ElliottController, CAO and VPExpress Scripts

Elliott, controller of the $17 billion pharmacy benefit management company since 2005, is helping oversee its acquisition of Well-Point’s NextRx. In almost 10 years at Express Scripts, she has led internal audit’s Sarbanes-Oxley efforts and worked to integrate the company’s formerly dispersed finance operations. She has a bachelor’s in business adminis-tration and accounting from the University of Kansas. ▪

38 treasury & risk october 2009 treasuryandrisk.com

40 Under 40

•34 Michael GaltmanController & CAO Sunoco Logistics Partners

Galtman joined the $10 billion operator of oil pipelines and terminals as assistant controller in 2005 and was named to his current position in 2008. He has participated in three acquisitions and the issuance of $275 million of securities. Earlier, he was a vice president of financial reporting at MBNA America Bank and a con-sultant at Arthur Andersen. Galt-man has a bachelor’s in account-ing from Rutgers University. ▪

•36 Kevin HadlockCFO & SVPBaltimore Gas & Electric

Since being named CFO of the $3.7 billion utility, a unit of Con-stellation Energy, in 2008, Had-lock has established a stand-alone treasury for the company. Before joining Constellation as director of investor relations in 2004, he worked in the treasurer’s office at General Motors and served as a credit analyst at Morgan Stanley. He has a B.S. from Brigham Young University and an M.B.A. from Northwestern University. ▪

•35 Matthew GarthDirector, investor relationsAlcoa

Garth joined the $26.9 billion aluminum producer in 2002 as manager of investor relations. He spent two years in corporate analysis and strategic planning and served as director of treasury before being named to head inves-tor relations this year. Before join-ing Alcoa, he worked at Thomson Financial. Garth has a bachelor’s in accounting from the University of Delaware and an M.B.A. from Columbia University. ▪

•33 Monique HoffmeisterManager of investments, treasury Entergy

Hoffmeister oversees the invest-ment of all benefit plan assets for the $13 billion utility, as well as administering the plans. Since joining Entergy in 1999, she has also served as a financial analyst in the corporate finance, cash management and corporate planning areas. Hoffmeister has both a B.S. in math and a B.A. in economics from Centenary Col-lege and an M.B.A. from Tulane University. ▪

•39 H. Keith JenningsTreasurer & VPCameron International

Before joining the $5.8 billion equipment manufacturer for the oil and gas industry this year, Jennings served as treasurer for Alghanim Industries, a privately held conglomerate operating in the Middle East and Asia. Earlier, he worked in treasury at PepsiCo and Ingersoll-Rand and in finance at Pharmacia Corp. He has a bach-elor’s of commerce from the Uni-versity of Toronto and an M.B.A. from Columbia University. ▪

•37 Matthew GalvanoniAssistant controller & VPExelon

In June, Galvanoni was named assistant corporate controller for the $18.8 billion utility holding company and chief accounting officer for a subsidiary, Exelon Generation. Since joining Exelon in 2002, he has also served as controller for two Exelon units, Commonwealth Edison and PECO Energy. Galvanoni has a B.S. in accounting from the University of Illinois and an M.B.A. from Northwestern University. ▪

•39 Marion HarrisTreasurer, South AmericanoperationsFord Motor

Harris was named treasurer of Ford’s South American operations recently after serving as director of securitization for Ford Motor Credit since 2007, where he played a key role in maintaining funding during the credit crisis. Since joining Ford in 1999, he has also worked in treasury and as control-ler of a subsidiary. He has a B.S. and M.A. in math from Mississippi State University. ▪

•37 Navneet GovilTreasurer & VPSunPower

Govil signed on as the $1.4 bil-lion solar panel manufacturer’s treasurer in June after eight years at Sun Microsystems, where his positions included controller for the microelectronics group and assistant treasurer. Earlier, he worked in treasury and finance jobs at Hewlett-Packard and Pfizer. He has a B.S. from the Uni-versity of Rochester and both an M.S. in engineering and an M.B.A. from Cornell University. ▪

40 treasury & risk october 2009 treasuryandrisk.com

40 Under 40

•38 Jennifer MacKethanSenior manager, enterprise risk managementRTI International

MacKethan led the $612.5 million research institute’s implementa-tion of an enterprise risk manage-ment program, an effort that won it an Alexander Hamilton Award in 2008. Before joining RTI, she was a senior financial specialist at Progress Energy. MacKethan has a bachelor’s in psychology from the University of North Carolina and an M.B.A. from North Carolina State University. ▪

•37 Patrick MurphyStaff VP, corporate reporting & analysisWellPoint

Murphy has co-led the $61.5 bil- lion health insurer’s efforts to build a company-wide perfor-mance reporting framework that gives executives quick access to information on business drivers and financial data. He joined WellPoint in 2005 as assistant controller after serving as a senior financial analyst and lead auditor at Eli Lilly. He has a B.S. in busi-ness from Indiana University. ▪

•38 Sachin MehraTreasurer & VPHess Corp.

As treasurer of the $41 billion en-ergy company since 2008, Mehra has focused on funding. He pulled off a $1.25 billion debt issue earlier this year despite volatile market conditions. Before joining Hess as assistant treasurer in 2007, he spent 10 years in finance and trea-sury positions at General Motors. He has a bachelor’s in commerce from the University of Bombay and an M.B.A. from the University of Virginia. ▪

•37 Kevin NowlanTreasurer & VPArvinMeritor

The $7.1 billion manufacturer of vehicle components appointed Nowlan treasurer and vice president in July. He had served as the company’s assistant trea-surer since 2007. Before joining ArvinMeritor, Nowlan worked in finance positions in the treasur-er’s office of General Motors and at GMAC Financial Services. He has both a B.A. in economics and an M.B.A. from the University of Michigan. ▪

•39 Richard McPhailVP, strategic business developmentHome Depot

McPhail oversees the $71.2 bil-lion home improvement chain’s strategic business development efforts and its financial planning and analysis. Before joining Home Depot, he served as executive vice president of business develop-ment at Marconi Corp. in London and was an investment banker at Wachovia Securities. He has a B.A. in economics from North Carolina State University and an M.B.A. from Duke University. ▪

•30 Heather NolanSenior business leader, creditrisk management MasterCard

As head of the $4.9 billion credit card company’s credit risk man-agement function, Nolan oversees global credit risk exposure of close to $50 billion. In her nearly two years in the position, the company has not incurred any losses. She joined MasterCard in 2001 as a risk management analyst. Nolan has a B.B.A. from Loyola University and an M.B.A. from Columbia University. ▪

•38 Arthur MinsonCFO & EVPAOL

The Web services company named Minson CFO in August in preparation for its spin-off from Time Warner. Minson had been deputy CFO of Time Warner Cable since 2007, and earlier worked in finance at AOL, Rainbow Media Holdings and Time Warner. He began his career as an auditor at Ernst & Young. He has a B.S. in accounting from Georgetown University and an M.B.A. from Columbia University. ▪

•35 David KinderTreasurer & VP, corporate development & investor relations Kinder Morgan

After joining the $12 billion energy pipeline and storage company in 1999, Kinder was named vice president of corporate develop-ment in 2002 and added the titles of treasurer in 2005 and head of investor relations this year. His responsibilities include acquisi-tions and divestitures, a busy area at Kinder Morgan. Kinder has a bachelor’s in finance from Texas Christian University. ▪

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40 Under 40

•33 Jeff PritchettVP, finance & treasurerVertis Communications

Since joining Vertis in 2007, Pritchett has been instrumental in the $1.3 billion marketing company’s merger with American Color Graphics, as well as Vertis’ restructuring via a prepackaged bankruptcy. Pritchett was pro-moted to his current position in January. Before joining Vertis, he had worked at Delphi and General Motors. He has a B.B.A. from Walsh College and an M.B.A. from Purdue University. ▪

•38 Anthony PetittController & VPWhirlpool

Petitt was named controller of the $19 billion appliance manufactur-er in 2008, after joining Whirlpool in 2007 as assistant corporate controller. Earlier in his career, he served as chief accounting officer of Kforce and director of accounting operations at Watkins Motor Lines. He also worked as an auditor and manager at Arthur Andersen. Petitt has a B.S. in accounting from Wake Forest University. ▪

•38 Neil RussellVP, investor relationsSysco

The $37 billion food service distributor appointed Russell to head investor relations in 2007. He joined Sysco from Delta Air Lines, where he headed investor relations through the airline’s bankruptcy and subsequent stock offering. Earlier, Russell worked as an analyst at American West. He has a B.S. in business manage-ment from Arizona State Univer-sity and an M.B.A. from the New York Institute of Technology. ▪

•36 Robert PattersonCFO & SVPPolyOne

The $2.7 billion provider of plas-tics and resins hired Patterson as CFO and SVP in 2008. Before joining PolyOne, he served as treasurer, and earlier as control-ler, of Novelis, a manufacturer of aluminum products, and worked in finance at SPX. He began his career at Arthur Andersen. Patter-son has a bachelor’s in business administration and a master’s in accounting from the University of Michigan. ▪

•38 Zane RoweCFO & EVP Continental Airlines

Before he became CFO of the $15.2 billion airline in 2008, Rowe served as senior vice president of network strategy, a role in which he worked on plans to expand its global route network, and as vice president of financial planning and analysis. Prior to joining Continental, he taught econom-ics at Embry-Riddle Aeronautical University. Rowe has a B.S. from Embry-Riddle and an M.B.A. from San Diego State University. ▪

•39 Patrick PoljanVP, global operations financeDell

Poljan joined the $61 billion computer company in June from SABIC Innovative Plastics, the former GE Plastics, where he was general manager of global sourcing. He spent 15 years at GE in positions including CFO of the resins unit of GE Plastics and CFO of GE Optimization Services. Poljan has a B.S. in finance and operations from Boston College and an M.B.A. from Columbia University. ▪

•36 J. Daniel SimmonsDirector, treasury & risk managementZappos.com

In 2008, Simmons and his team won an Alexander Hamilton Award for middle market treasury. Since joining the online shoe retailer with roughly $1 billion in sales, Simmons has partici-pated in building its treasury, risk management and finance depart-ments. Earlier, he worked in treasury at Expedia. He has a B.S. in business administration from Oklahoma State University. ▪

•38 Scott OrdwayCOO, global financeAon Corp.

As COO for global finance for the $7.6 billion insurance brokerage since 2008, Ordway has cut costs and established performance and quality metrics for the finance group. Earlier, he was vice presi-dent of business development at Danaher and worked at Motorola and McKinsey & Co. Ordway has a B.S. from Cornell University, an M.S. from Stanford University and an M.B.A. from the University of Chicago. ▪

42 treasury & risk october 2009 treasuryandrisk.com

40 Under 40

•35 Stephen SmallCFO, global purchasing &supply chainGeneral Motors

As CFO for the carmaker’s supply chain, Small keeps tabs on $75 billion of global spending. Before assuming his current posi-tion this year, he spent six years in finance positions at GM units in Asia, including serving as CFO for GM South East Asia and director of finance and planning at Isuzu Motors. Small has a bachelor’s of commerce from the University of Auckland. ▪

•38 Tony ThomasCFOWindstream

Thomas was appointed CFO of the $3.2 billion telecommunications company in August after serving as its controller since 2006. From 1998 to 2006, he worked at an-other telecom, Alltel, in positions including director of investor relations and vice president of corporate financial planning. Thomas has a bachelor’s in ac-counting from the University of Illinois and an M.B.A. from Wake Forest University. ▪

•37 Steven SterinCFO & SVPCelanese

Sterin was named CFO of the $6.8 billion chemical company in 2007 after serving as controller since 2005. He has implemented a five-day monthly close and led Sarbanes-Oxley compliance. Before joining Celanese, Sterin worked in finance at Reichhold and was a tax consultant at Price Waterhouse. He has a bachelor’s in business administration and a master’s in accounting, both from the University of Texas. ▪

•35 Mark WalterHead of fixed-income asset managementMicrosoft

As the head of the team that over-sees the fixed-income financial assets of the $58 billion software company, Walter managed to out-perform market benchmarks dur-ing the downturn, in part because he steered clear of structured financial products. Before joining Microsoft, he ran fixed-income mutual funds at Wells Capital. Walter has a B.S. in finance from the University of Colorado. ▪

•34 Todd SmithGlobal controllerGE Capital Real Estate

Smith and his team work to en-sure that GE Capital Real Estate’s $84 billion portfolio of real estate loans and properties receive the proper valuation and account-ing treatment. Since joining GE’s financial management program in 1997, Smith has served in positions that include CFO of GE Capital Real Estate Asia Pacific. He has a bachelor’s in business administration from the Univer-sity of Florida. ▪

•38 Theresa WaglerCFO & EVPSteel Dynamics

Wagler was named CFO of the $8.1 billion steel company in 2007 after serving as its control-ler since 2000. In 2007 and 2008, she led the company’s efforts to raise $1.7 billion in the high yield bond market. Before joining Steel Dynamics, Wagler was assistant controller of Fort Wayne National Corp. and served a senior auditor at Ernst & Young. She has a B.S. in accounting and systems analysis from Taylor University. ▪

•36 Brian SwartzCFO, treasurer & SVPApollo Group

Swartz was named CFO of the$3.1 billion education company, the parent of the University of Phoenix, in March and added the title of treasurer in April. He joined the company in 2007 as corporate controller and chief accounting officer. From 2002 to 2006, Swartz was corporate con-troller at EaglePicher. He began his career at Arthur Andersen. Swartz has a B.S. in accounting from the University of Arizona. ▪

•39 James WoodallController, CAO & SVPFidelity National Information Services

The $3.4 billion provider of transaction processing and outsourcing services for financial institutions hired Woodall as controller and chief accounting officer in 2008. Earlier, Woodall served as vice president of finance at Eclipsys, an assistant control-ler at BellSouth and a regional controller for AT&T. He has a bachelor’s in accounting from Troy State University. ▪