From the May 2009 issue of Treasury & Risk magazine

People on the Move

Marriott International, the Bethesda, Md.-based hotel chain with 2008 revenues of $12.9 billion, promoted Carl T. Berquist to CFO and executive vice president. Berquist, 57, had been executive vice president of financial information and enterprise risk management. After joining the company in 2002, he led an initiative to expand effectiveness and transparency in financial analysis and reporting. Berquist succeeds Arne M. Sorenson, 50, Marriott's CFO since 1998, who was appointed president and COO.

Norfolk Southern, the Norfolk, Va.-based freight railroad with 2008 revenues of $10.7 billion, promoted Marta R. Stewart to treasurer and vice president. She succeeds William J. Romig, 64, who has retired. Stewart, 51, joined Norfolk Southern in 1983 as assistant manager of accounting systems. She served as manager of financial reporting and director of corporate accounting before being appointed controller and vice president in 2003. The company named C.H. "Jake" Allison, Jr., 45, to succeed Stewart as controller and vice president.

Armstrong World Industries, the Lancaster, Pa.-based producer of flooring and ceiling products with 2008 revenues of $3.4 billion, appointed William C. Rodruan interim CFO. He succeeds Nicolas Grasberger, 45, who becomes CEO and executive vice president of Armstrong Building Products. Rodruan, 54, is a 33-year veteran of the company. He has held management roles throughout Armstrong World Industries and most recently served as vice president of finance for the Americas division of Armstrong Flooring Products.

Diebold, the North Canton, Ohio, ATM provider with 2008 revenues of $3.2 billion, announced that Leslie A. Pierce will serve as interim CFO in addition to her duties as corporate controller and vice president. She succeeds Kevin J. Krakora, 53, who stepped down in connection with a Securities and Exchange Commission investigation into the business. Pierce, 45, joined Diebold in 1990. She served as vice president of accounting, compliance and external reporting before being named corporate controller.

Apollo Group, the Phoenix-based private education provider with 2008 revenues of $3.1 billion, promoted Brian L. Swartz to CFO, treasurer and senior vice president. Swartz, 36, had been senior vice president of finance and chief accounting officer. He succeeds Joseph D'Amico, 59, who was named president and COO. Swartz joined Apollo Group in 2007. D'Amico joined in 2006 as interim CFO. Gregory Iverson, 33, who presently serves as controller and vice president, will add the role of chief accounting officer.

Odyssey Re Holdings, the Stamford, Conn., reinsurer with 2008 revenues of $3 billion, promoted Michael G. Wacek to executive vice president of global risk strategies. Wacek, 53, an 11-year veteran of the company, previously served as executive vice president of OdysseyRe and chief risk officer of Odyssey America. His new role will include enterprise-wide risk management throughout OdysseyRe's worldwide operations. He will continue to oversee OdysseyRe's Americas division until the company appoints a successor.

AutoDesk, the San Rafael, Calif.-based software design and services company with 2008 revenues of $2.3 billion, appointed Mark J. Hawkins CFO and executive vice president. Hawkins, 50, joins AutoDesk from Logitech International, where he had been CFO and senior vice president of finance and information technology since 2006. Earlier, he worked at Dell and at Hewlett-Packard, where he served as worldwide group controller. Carl Bass, Autodesk's CEO, had served as interim CFO since August 2008.

CapitalSource, a commercial lender in Chevy Chase, Md., with 2008 revenues of $1.3 billion, appointed Donald F. Cole CFO. He succeeds Thomas A. Fink, who is resigning to pursue other interests, but will remain with the company through June. Cole, 38, joined CapitalSource in 2001 and most recently served as chief administrative officer, after earlier stints as COO, chief information officer and interim principal accounting officer. He has been a member of the company's executive committee since 2004.

Erie Indemnity Co., an insurance company based in Erie, Pa., with 2008 revenues of $1.1 billion, appointed Marcia A. Dall CFO. Dall, 45, most recently served as CFO for the healthcare division of Cigna Corp. Before joining Cigna, she was CFO for the international and U.S. mortgage insurance segments of Genworth Financial. Dall began her career in the financial management program at General Electric. She succeeds Philip A. Garcia, who had worked at Erie Indemnity for 28 years, including 11 as CFO.


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