From the May 2003 issue of Treasury & Risk magazine

Recent Recruit Named Cfo Of International Paper...

RECENT RECRUIT NAMED CFO

Chris Liddell was named CFO and senior vice president of International Paper Co. in March after joining the $24.9 billion forest products company last December as vice president of finance. But Liddell, 44, has plenty of experience in the paper business. Before joining International Paper, he had worked since 1995 at Carter Holt Harvey Ltd., a $2 billion paper company in New Zealand that is 51% owned by International Paper. Liddell was Carter Holt Harvey's CEO from 1999 to 2002 and served as its CFO from 1995 to 1998. Liddell is taking the finance reins at International Paper as the company embarks on a three-year program to improve profitability by increasing its overall revenues via "higher volumes and better mix." He succeeds John Faraci, who was named International Paper's president in February.

SOUTHERN CO. NAMES THOMAS FANNING CFO

Thomas Fanning was named CFO of the Southern Co., a $10.5 billion energy company based in Atlanta. He succeeds Gale Klappa, who is leaving Southern Co. to become president of Wisconsin Energy Corp. Fanning, 46, most recently was president and CEO of a Southern Co. subsidiary, $725 million Gulf Power. He has held a variety of jobs since joining Southern Co. in 1980, including serving as CFO of another subsidiary, Mississippi Power Co., as CIO of the parent company, and in various positions at Southern Co. Services.

Tenet Healthcare Corp., a $13.9 billion hospital chain based in Santa Barbara, Calif., named F. Scott Kellman treasurer and senior vice president of corporate finance and real estate. Kellman replaces Stephen Farber, who was promoted to CFO in November 2002. Kellman, 46, was the chief operating officer of Omega Healthcare Investors Inc., a health care real estate investment trust company, from 1998 until 2002. He joined Omega in 1993 as a senior vice president when it absorbed Medical REIT, another real estate investment trust that he had co-founded.

Freddie Mac, a $36.7 billion mortgage banking company based in McLean, Va., named Martin Baumann executive vice president of finance, a new position for the company. Baumann, 55, joined Freddie Mac from PricewaterhouseCoopers, where he served as deputy chairman of the world financial services practice and as global banking leader. Baumann had been with PwC for 30 years.

Northrop Grumman Corp., a $17.2 billion defense contractor based in Los Angeles, named James Sanford treasurer and corporate vice president. He succeeds Albert Myers, who was promoted to the new position of corporate vice president of strategy and technology. Sanford, 57, was most recently vice president of contracts and pricing. In his 18 years at Northrop Grumman, he has also served as assistant treasurer and corporate director of banking and international finance, after starting as a contract and pricing manager in the B-2 division.

T.K. Chopra was appointed corporate controller of Bunge Ltd., a $14 billion food processor and soybean exporter based in White Plains, N.Y. Chopra, 52, came to Bunge from Citigroup, where he worked for 25 years in various jobs, including vice president of corporate reporting and CFO of the company's Brazil division. Chopra succeeds Theodore Fox III, who was promoted to CFO of Solae LLC, a soy ingredients joint venture of Bunge and DuPont.

Mark Gibbens was promoted to treasurer and vice president of Lucent Technologies Inc., the $12.3 billion maker of telecom equipment. He succeeds Martina Hund-Mejean, who left in December 2002 to become treasurer of Tyco International Ltd. Gibbens, 35, joined Lucent in November 2000 as assistant treasurer. Previously, he served as vice president of finance at an Internet company and spent 10 years at General Motors Corp. in a variety of positions in its treasury.

David Steiner was named CFO and executive vice president of Waste Management Inc., an $11.1 billion solid waste company. He succeeds William Trubeck, who was promoted to chief administrative officer and executive vice president of operations support in May 2002. Recently, Trubeck was appointed executive vice president of western group. Steiner, 42, was most recently Waste Management's general counsel and corporate secretary. He joined the company in November 2000 as deputy general counsel and vice president. Earlier, Steiner was with Phelps Dunbar, a New Orleans law firm, and Gibson, Dunn & Crutcher.

Timothy Pistell was promoted to CFO and vice president of finance and administration of Parker Hannifin Corp., a $6.1 billion Cleveland-based manufacturer of motion and control systems. He succeeds Michael Hiemstra, who is retiring. Pistell, 55, most recently was treasurer. Since joining the company in 1969, he has held various financial positions, including director of business planning, vice president of finance and controller international in England.

MBNA Corp., a $10.4 billion bank holding company headquartered in Wilmington, Del., named Vernon Wright CFO. He succeeds M. Scot Kaufman, who was named chairman of MBNA's finance and loan committee and a member of its executive committee. Wright, 60, joined the company in 1969 in commercial lending and most recently served as chief corporate finance officer. He was a pioneer in bank asset sales and securitization and has directed the securitization of more than $125 billion of credit card assets.

Northwest Airlines Corp. named Thomas Kennedy controller and senior vice president. Kennedy, 37, succeeds Hiram Cox, who left to become CFO of Central Parking Corp. Kennedy most recently was Northwest's vice president of financial planning and analysis. Before he joined the $9.5 billion airline based in Eagen, Minn., in 1992, Kennedy was a municipal bond analyst with Merrill Lynch Capital Markets.

Corliss Nelson was named CFO and executive vice president of JM Family Enterprises Inc., a $7.8 billion privately held diversified automotive company that is based in Deerfield Beach, Fla. Nelson, 58, joins JM Family from Ryder System Inc., where he was CFO and senior executive vice president and served on the board of directors. Before joining Ryder in 1999, he spent 20 years at Koch Industries Inc. At JM Family, Nelson succeeds Jim Foster. Ryder said Tracy Leinbach, executive vice president of fleet management solutions, will serve as interim CFO.

Owens-Illinois Inc., a $5.6 billion manufacturer of glass and plastic packaging based in Toledo, Ohio, promoted Thomas Young to CFO. He replaces R. Scott Trumbull, who retired. Young, 59, had been general counsel and executive vice president of administration since 1993. He joined the company's legal department in 1976.

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