From the September 2011 issue of Treasury & Risk magazine

Executives on the Move

Larry Brockway; Timothy Griffith; David Foster; Jo-Ann Longworth; Christopher Wren; Michael O’Grady; Karen Parkhill; Steve Burdick; Marian Davis; Joel Wine; Stephen Wolfe; Julie Pangelinan

U.S. Steel, the Pittsburgh-based steel maker with $17.4 billion of 2010 revenue, promoted Larry Brockway to the new position of chief risk officer and senior vice president. John Quaid replaces Brockway as treasurer and vice president. Brockway, 51, had been treasurer since 2004, after being named assistant treasurer of corporate finance following U.S. Steel’s 2001 spin-off from USX. Quaid, 39, most recently controller for North American flat-rolled operations, joined U.S. Steel in 2002 as manager of investor relations.

Marathon Petroleum, the refinery unit that was spun off by Marathon Oil in June in a transaction valued at $15 billion, named Timothy Griffith treasurer and vice president of finance. Griffith, 41, joins the newly formed Findlay, Ohio-based company from Smurfit-Stone Container Corp., where he served as treasurer and vice president of investor relations since 2009. Earlier, Griffith was treasurer at Cooper-Standard Automotive, assistant treasurer at Lear Corp. and a derivatives specialist at Citicorp.

Eaton Corp., a diversified manufacturer with 2010 revenue of $13.7 billion, named David Foster senior vice president of corporate development and treasury. He succeeds Kurt McMaken, who was named vice president of finance and planning for the electrical sector for Europe, the Middle East and Africa. Foster, 40, has served as vice president of finance for the Asia Pacific region since 2008. He joined Cleveland-based Eaton as a general ledger accountant in 1993 after working at Hydro Aluminum Bohn.

AbitibiBowater, the Montreal-based paper and wood pulp maker with $4.7 billion in 2010 revenue, named Jo-Ann Longworth CFO. She replaces William Harvey, who is stepping down. Longworth, 50, was chief accounting officer at World Color from 2008 to 2010. Earlier, she served as CFO at Skyservice and controller at Novelis. Before Alcan’s spin-off of Novelis, she spent 16 years at Alcan in positions including director of investor relations and CFO of bauxite and alumina operations in Jamaica.

YRC Worldwide, the $4.3 billion transportation and logistics company, named Christopher Wren treasurer and senior vice president. Bill Trubeck, YRC’s interim CFO, had been handling the treasury responsibilities. Wren, 44, joins the Overland Park, Kansas, company from consulting firm Power I.T. Earlier, he was vice president of corporate development at H&R Block, vice president of product development at Positive Networks, and held a number of positions at Sprint. Wren started his career as a lawyer.

Northern Trust, the Chicago-based financial services company with $4.4 trillion in assets under custody and 2010 revenue of $4 billion, named Michael O’Grady CFO. He succeeds William Morrison, who was promoted to president and COO. O’Grady, 46, joins Northern Trust from Bank of America Merrill Lynch, where he was head of the depository institutions group for the Americas in the bank’s financial institutions investment banking group. O’Grady joined Merrill Lynch in 1992.

Comerica, the Dallas-based financial services company with $54 billion in assets and $2.6 billion in 2010 revenue, named Karen Parkhill vice chairman and said she will become CFO in the third quarter. Elizabeth Acton, the current CFO, plans to retire in April 2012. Parkhill, 45, joins Comerica from JPMorgan Chase, where she most recently served as CFO for commercial banking. She began working at JPMorgan’s investment bank in 1992 after starting her career as an analyst at Rauscher Pierce Refsnes.

Tetra Tech, a $2.2 billion provider of consulting, engineering and construction services in Pasadena, Calif., named Steve Burdick CFO and treasurer. Brian Carter replaces Burdick as corporate controller, chief accounting officer and vice president. Burdick, 47, succeeds David King, who left in April to become CFO of SunTech Power. Burdick was CFO at Aura Systems and TRW Ventures before joining Tetra Tech in 2003. Carter, 43, previously was vice president of finance and administration at Wedbush.

USEC, a supplier of enriched uranium for nuclear power plants with $2 billion in 2010 revenue, named Marian Davis chief audit executive and vice president. It is a new position for the Bethesda, Md.-based company. Davis most recently was senior vice president of corporate internal audit at Sunrise Senior Living, where she established the internal audit function. Earlier, she worked in finance positions at HMSHost, Host Hotels & Resorts and Marriott International. Davis began her career at PricewaterhouseCoopers.

Alexander & Baldwin, the $1.6 billion ocean transportation, logistics and agribusiness company, appointed Joel Wine CFO, treasurer and senior vice president. He replaces Christopher Benjamin, the company’s CFO since 2004, who was named president of A&B Land Group. Wine, 39, joins the Honolulu-based company from Goldman Sachs, where he spent 14 years, most recently as a managing director and senior investment banking director. Alexander & Baldwin had been a client of Wine’s since 2002.

Toro Co., the $1.5 billion maker of lawn equipment, named Renee Peterson CFO and vice president of finance. She succeeds Stephen Wolfe, who is retiring after more than 25 years with the company. Peterson, 50, most recently was vice president of finance and planning for the truck and automotive segments at Eaton Corp. She joined Eaton in 2008 as vice president of finance, information technology and business development after 25 years at Honeywell International.

Interstate Hotels & Resorts, an Arlington, Va.-based hotel management company with 334 properties around the world and 2010 revenue of $779.5 million, named Julie Pangelinan CFO. She succeeds Bruce Riggins, who left in January to become CFO of LaSalle Hotel Properties. Pangelinan, 47, was CFO at Sunrise Senior Living prior to joining Interstate. Earlier, she spent six years as vice president of accounting policy at Marriott International and was an audit partner at BDO Seidman.


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