From the October 2009 issue of Treasury & Risk magazine


DuPont, the $31 billion chemical company, announced that Nicholas Fanandakis will become CFO and senior vice president on Nov. 1. He will succeed Jeffrey Keefer, who has been named to lead Wilmington, Del.-based DuPont's performance coatings business. Fanandakis, 53, has worked for DuPont for 30 years. Since 2008, he has been group vice president of the applied biosciences unit. Earlier, Fanandakis served as general manager of DuPont Chemical Solutions Enterprise and as vice president of planning.

Xcel Energy, an $11.2 billion utility holding company, named David Sparby CFO and vice president. He replaces Benjamin Fowke III, who was promoted to president and chief operating officer of Minneapolis-based Xcel. Sparby, 55, mostly recently was president and CEO of an Xcel subsidiary, Northern States Power Co. of Minnesota. Since joining Northern States in 1982, he has also served as vice president of regulatory affairs, general manager of regulatory services and managing director of corporate rates.

GameStop, a Grapevine, Texas, retailer of video games and entertainment software with $8.8 billion in revenue, hired Catherine Smith as CFO and executive vice president. She succeeds David Carlson, who is retiring in March 2010. Smith, 46, most recently spent three years as CFO and executive vice president of Centex, a Dallas-based home builder. She has also served as CFO at Kennametal, at Bell Helicopter, a division of Textron, and for the intelligence and information systems business of Raytheon.

First Data, an Atlanta-based payments processor with $8.8 billion in revenue, appointed W. Patrick Shannon CFO and executive vice president. He replaces Phil Wall, who was named CFO of Bank of America Merchant Services, an alliance between First Data and B of A. Shannon, 46, was CFO of BellSouth from 2005 until 2007, when it merged with AT&T. Earlier, he worked in finance at U S West, including a stint as CFO of its cable unit, MediaOne.

Smurfit-Stone Container, a $7 billion producer of containerboard and corrugated packaging, named Timothy Griffith treasurer and vice president. He succeeds Jeffrey Beyersdorfer, who left the company in late 2007. Griffith, 40, most recently was treasurer at Cooper-Standard Automotive. Earlier he worked in finance at Lear Corp. Smurfit-Stone also named Brian Gardner assistant treasurer. Gardner, 37, joined the company in 1998 and most recently served as director of corporate finance.

Northern Trust, a Chicago-based financial services firm with $4.2 billion in revenue, named William Morrison CFO. He succeeds Steven Fradkin, the company's CFO since 2004, who was named president of its corporate and institutional services business unit. Morrison, 59, has been co-president of the Northern Trust's personal financial services group since 2003. From 1996 to 2003, he was chairman and CEO of Northern Trust of Florida. Before joining Northern Trust, he was president of Intercontinental Bank.


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