From the November 2009 issue of Treasury & Risk magazine


Freddie Mac, the giant mortgage guarantor, named Ross Kari chief financial officer. John Koskinen, Freddie's non-executive chair, had served as interim CFO. Kari, 51, joins Freddie from Fifth Third Bancorp., where he had been CFO since November 2008. Previously, he was CFO at insurer Safeco and COO of the Federal Home Loan Bank of San Francisco. Cincinnati, Ohio-based Fifth Third appointed its controller, Daniel Poston, to succeed Kari as CFO. Poston joined the bank in 2001 as director of internal audit.

Navistar International, the Illinois-based maker of trucks, buses and engines with $14.7 billion of 2008 revenue, appointed Andrew Cederoth CFO and executive vice president. Cederoth, 44, had served as the company's principal financial officer since the previous CFO, Terry Endsley, died in June. Since joining Navistar in 1990, Cederoth has worked in finance positions including CFO for the company's engine group and treasurer and principal financial officer of Navistar Financial Corp., its finance subsidiary.

American Electric Power, the $14.4 billion utility, named Brian Tierney CFO and executive vice president. He succeeds Holly Koeppel, who will remain with the Columbus, Ohio-based company through the fourth quarter. Tierney, 42, most recently was executive vice president of AEP Utilities East. Earlier, he served as senior vice president of commercial operations and in other positions involving pricing transactions and trading and marketing. Before joining AEP, he worked as an electricity trader for an Enron subsidiary.

Sara Lee, the $12.8 billion purveyor of food, beverage and body care products, appointed Marcel Smits CFO and executive vice president. He succeeds Theo de Kool, who retired at the end of June. Smits, 48, is joining the Chicago-based company from Koninklijke KPN, a Dutch telecom, where he served as CFO and oversaw a number of acquisitions. Earlier, Smits was CFO at Vendex, a Dutch retailer, and spent 13 years in finance and management positions at Unilever.

Sun Life Financial, a Toronto-based provider of insurance and investment management products with $12.7 billion in 2008 revenue, named Colm Freyne CFO and executive vice president. He succeeds Richard McKenney, who left to become CFO of Unum Group. Freyne, 50, most recently was Sun Life's controller and senior vice president. Since joining Sun Life in 2003, he has also served as chief auditor. Earlier, he was chief accountant of TD Bank and worked at Coopers Lybrand.

YRC Worldwide, an Overland Park, Kan., shipping company with $8.9 billion of 2008 revenue, named Sheila Taylor CFO and executive vice president. She succeeds Tim Wicks, who was named chief operating officer. Taylor, 36, most recently was the company's treasurer and vice president of investor relations. Since joining YRC in 2002, she has worked in various finance positions. Earlier, she was a division controller at Corporate Express and a senior auditor at Arthur Andersen.


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