From the July-August 2010 issue of Treasury & Risk magazine

Financial Executives: Keeping Track


J.P. Morgan Chase, the $115 billion financial services giant, appointed Douglas Braunstein CFO. He succeeds Michael Cavanagh, the bank's CFO since 2004, who was named head of treasury and securities services. Cavanagh replaces Heidi Miller, who was named president of the international division. Braunstein, 49, has headed J.P. Morgan's Americas investment banking unit since 2008. Earlier, he served in senior investment banking positions, including head of global M&A, after joining thebank in 1997.

Hess Corp., the New York City-based energy company with $29.5 billion of 2009 revenue, named Robert Biglin treasurer and vice president, effective Sept. 1. He succeeds Sachin Mehra, who is leaving to become treasurer of MasterCard. (See entry below.) Biglin, 45, currently serves as Hess' director of commercial Southeast Asia in Kuala Lumpur. Since joining the company in 2004, he has worked in planning and strategy positions. Before joining Hess, Biglin worked in finance at Cisco Systems and Mobil.

Baxter International, a Deerfield, Ill.-based pharmaceutical company with $12.6 billion of 2009 revenue, appointed Robert Hombach CFO and corporate vice president. He succeeds Robert Davis, the CFO since 2006, who was named president of Baxter's renal business. Hombach, 44, has been the company's treasurer since 2007. He has worked in a number of finance positions since joining Baxter in 1989, including vice president of finance for Europe and vice president of corporate planning and analysis.

Tennessee Valley Authority (TVA), the U.S. government-owned utility in Knoxville, Tenn., named John Thomas III CFO. He replaces Kimberly Greene, who was named group president for strategy and external relations. Thomas most recently served as controller for TVA, which had $11.3 billion in 2009 revenue. Earlier, he was general manager for operations business services. Prior to joining TVA, Thomas was CFO at Benson Security Systems and controller at two units of Progress Energy.

Harrah's Entertainment, a $10.1 billion company that operates casinos on four continents under brands including Harrah's, Caesars, Horseshoe and Showboat, named Eric Hession treasurer. He succeeds Jonathan Halkyard, the company's CFO, who also served as treasurer prior to Hession's appointment. Hession, 36, most recently was vice president of finance at Las Vegas-based Harrah's. He joined the casino company in 2002 after working for four years at Merck.

Modine Manufacturing, a Racine, Wis.-based provider of thermal management technology with $1.2 billion of 2009 revenue, promoted Michael Lucareli to CFO. He succeeds Bradley Richardson, who left in November to become CFO of Diebold. Modine's CEO, Thomas Burke, served as interim CFO. Lucareli, 41, was named treasurer and vice president of finance in 2008, and continues to hold those titles. He joined Modine in 1999 as business development and investor relations manager.

Robert Bosch, a $7.3 billion North American unit of German technology company Robert Bosch GmbH, appointed Maximiliane Straub CFO and executive vice president of controlling, finance and administration. She succeeds Ulrich Kirschner, who was named president of a division in Germany. Straub, 45, has served as president of the company's North American chassis systems full brakes division since 2006. She joined Bosch in 1993 and became a cost accountant for the chassis systems unit in 1994.

Avery Dennison, a $6 billion manufacturer of labels and office products, named Mitchell Butier CFO and senior vice president. He succeeds Daniel O'Bryant, who was named executive vice president of business development. Butier, 38, has been chief accounting officer and corporate vice president of global finance for the Pasadena, Calif.-based company since 2007. Since joining Avery Dennison in 2000 from PricewaterhouseCoopers, Butier had worked in finance positions in various business units.

Federal-Mogul, a Southfield, Mich.-based auto parts supplier that emerged from bankruptcy in 2007, named Alan Haughie CFO and senior vice president. He succeeds Jeff Kaminski, who left in May to take the CFO post at KB Homes. Haughie, 46, has served as the $5.3 billion company's controller, chief accounting officer and vice president since 2005. Earlier, he was director of corporate finance and served as controller for the U.K. aftermarket business. Prior to joining Federal-Mogul, he worked in audit at Ernst & Young.

MasterCard Worldwide, the $5.1 billion credit card company in Purchase, N.Y., hired Sachin Mehra as its corporate treasurer. He succeeds Andrea Robertson, the company's treasurer since 2003, who is retiring. Mehra, 39, joins MasterCard from Hess Corp., where he had been treasurer for more than two years. Earlier, he worked at General Motors, where his positions included regional treasurer for GM's Asia Pacific region, director of capital markets at GMAC and general director of the treasury office.

Willis Group Holdings, a $3.2 billion insurance brokerage, named Michael Neborak group CFO and executive vice president. He succeeds Patrick Regan, who left in February to become CFO of Aviva. Stephen Wood, Willis' controller, served as interim CFO. Neborak, 53, comes to Willis from MSCI, where he was CFO. Earlier, he worked for Citigroup and its predecessors; his last role at Citigroup was divisional CFO for the global operations and technology unit and the alternative investments group.

Alaska Air Group, a $3.4 billion Seattle-based company whose subsidiaries include Alaska Airlines and Horizon Air, named Brandon Pedersen CFO. He succeeds Glenn Johnson, the finance chief since 2008, who was named president of Horizon Air. Pedersen, 43, has been controller and vice president of finance for both Alaska Air and Alaska Airlines since 2006. He joined Alaska Air in 2003 from KPMG, where he was a partner. Earlier, Pedersen worked for 12 years at Arthur Andersen.

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