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in this issue President’s Letter From KPMG LLP KPMG Research Shows CFO Turnover Aligns with Organizational Strategy Chapter Events: n Summer Professional Development Series n 2009-10 Chapter Meetings Dallas Leaders Welcome FEI Technical Committees Update Financial Executive magazine Chapter Sponsors |
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chapter title sponsor |
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Summer 2009 |
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financialexecutives.org Advocacy: ▪ Issues Events: ▪ Webcasts CPE Center – Get CPE credit by reading Financial Executive magazine and FERF reports FERF – Financial Executive Research Foundation Financial Executive magazine Financial Reporting Update – FASB, Tax and Legislative Updates ▪ FEI Express ▪ CareerTrax ▪ Finance and Information Technology Renew your FEI national membership
chapter event schedule September 9 October 14 November 12* December 2* January 13* February 14 March 10 April 14 May 13 *Indicates departure from typical meeting date or location
chapter leaders Officers: President First Vice President Second Vice President Secretary Treasurer
Committee Chairs: Arrangements Career Services External Relations & Publicity Membership Member Outreach Member Retention Professional Development Programs Special Events Sponsorship
Executive Committee: Paul Mason Gina A. Norris William H. Baxley, III
Director at Large: Terry L. Beneke
Other Directors: National Liaison CFO Roundtable
chapter administrator Jackie Dunn |
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The spring months were great for our chapter. Early in May the FEI Summit was held in Grapevine at the Gaylord Texan. Dallas Chapter member Dick Rosebery served as Summit ‘09 Chair and a number of chapter officers and members were able to attend the informative sessions. It is apparent that under the new leadership of Marie Hollein as President of FEI, there will be increased administrative support for chapters and increased learning opportunity for individuals. It is up to us to help shape these changes. As one example, I have been asked to serve on an IT Task Force involving both FEI National and the chapters. Please stay in touch if you have suggestions as to how we can improve the membership experience in this area. Further good news at the Summit: the Dallas Chapter was recognized as the Outstanding Large Chapter for Membership Development. We produced positive growth this year; apparently other chapters experienced reductions in membership.
At the April meeting, the chapter elected a new state of officers. Congratulations to Kathryn McBride, incoming president, and to Lisbeth McNabb (First VP), Renee Hornbaker (Second VP), Derek Claybrook (Secretary), and Chris Loy (Treasurer). David Palmlund is now serving as Area Director at Large. I wish the |
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David Springate |
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From KPMG |
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KPMG Research Shows CFO Turnover |
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By Don Mailliard , KPMG LLP
As the global economy experiences a period of unprecedented change, new research from KPMG LLP demonstrates that companies are moving toward CFOs whose skills align with their corporate strategy. In fact, the research indicates that companies bring in new CFOs based on the corporation’s immediate needs—a move designed to help them successfully execute on their current strategy and, therefore, improve performance, particularly during challenging times.
Understanding the evolution of the CFO role could help management to choose the right executive for the current needs of the business as well as cultivate future leaders with the diverse capabilities the company likely will be seeking later—especially amid ongoing market volatility and uncertainty. Once, boards instinctively focused their search on a “seasoned CFO”; now they may want to recruit from other areas of the organization as well as finance.
According to KPMG’s research, CFOs often develop one of several distinct skill sets that are typically aligned with certain corporate strategic priorities—growth, business transformation, or cost cutting, for example. As companies’ strategies change, so, too, do their CFOs. |
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Don Mailliard KPMG LLP |
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We wish to thank the following sponsors who have contributed greatly to our chapter. Members are encouraged to consider doing business with these firms if you have a need for their services.
Both chapter and golf tournament sponsorships are available. Contact Eric Logan (214-722-6004) or Keith Krzeminski (972-987-2376) for more information. |
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Sincere Thanks to Our Chapter Sponsors |
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By Mark Freund, The North Highland Company, Dallas Chapter Secretary
Summit 2009 – Navigating New Realities: Financial Leadership for Challenging Times – was held at the Gaylord Texan Resort and Convention Center on May 4-5. FEI’s annual national conference was a well organized and attended event, with special Texas flavor and flair, as leaders and members came to town from all over the country for this important learning and networking opportunity.
Of special note for the Dallas Chapter was that our own Dick Rosebery, as Chair of Summit ‘09, opened the conference and welcomed delegates from every chapter of the national FEI organization. With leadership as the key theme, Dick and his team had thoughtfully assembled diverse panels and speakers with pioneering keynote addresses to provide attendees with tools needed to thrive within the finance profession. Dick was assisted in this endeavor by Gina Norris of Dallas and Jim Swain of Fort Worth as Summit Planning Committee members. Hats off to these local members of the Summit leadership for their achievement!!
The Summit featured three specialized learning tracks focusing on Corporate Finance for Private Companies; Executive Leadership & Development and Finance and Information Technology. These tracks followed a connected thread through the two-day session and provided targeted learning opportunities. The planned speaking events were supplemented with an Exhibit Hall featuring new ideas and options from our committed sponsors and ample space and opportunity for networking.
The Dallas Chapter was well represented with the past, current and future presidents of FEI Dallas in attendance throughout the entire event. David Palmlund, Paul Mason, David Springate, and Kathryn McBride, along with many other chapter leaders and members helped Dick to support the conference from a host region perspective. The Summit also provided many of our leaders and members with their first opportunity to participate in the national conference and to take advantage of leadership training and networking which took place on Sunday before the official opening of the conference. Our local talent was also on prominent display during the Day Two afternoon panel discussion View from the C-Suite – Navigating New Realities – moderated by Zanny Minton-Beddoes, U.S. Economics Editor for The Economist. This interactive roundtable brought together industry leaders from telecommunications, energy and transportation to discuss top-down perspectives and insights on steering their companies and teams through the uncertain currents of today’s domestic and global economy. Featured panelists were Dallas Chapter members Richard G. Lindner, CFO of AT&T; Patrick Mulva, Controller of ExxonMobil and Laura Wright, CFO of Southwest Airlines.
The FEI national Summit was a wonderful opportunity to learn more about our amazing professional organization which provides so many diverse benefits to its membership. We strongly recommend attendance at the national Summit as way to learn more about all that makes up FEI and its many aspects, and to see first-hand the national perspective (FERF, technical committees, archived library resources, cross-chapter leadership groups) which add energy, information and broader scope to our local efforts.
If you have more interest in the program, materials or attendees from the recent Summit, please contact Jackie Dunn, our local chapter administrator. Jackie, who worked tirelessly side-by-side with the FEI national staff in handling planning and logistics during the three-day event, can provide you with more information as well as guidance on reserving your spot at the next FEI Summit at Caesar’s Palace in Las Vegas on April 26-27, 2010. |
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Dallas Leaders Welcome Summit ‘09 |
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Joe DiLorenzo, FEI Chairman; Dick Rosebery, Summit Chair; David Springate, Chapter President 2008-9; Marie Hollein, FEI President (in front); Chris Loy, incoming Chapter Treasurer; Paul Mason, Chapter Director; Kathryn McBride, incoming Chapter President; Mark Freund, Chapter Secretary 2008-9. |
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Summit Chair Dick Rosebery welcomes attendees. |
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Area Director David Palmlund visits with a colleague. |
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Membership Chair Eric Holleman accepts the Membership Development Award for large chapters from Marie Hollein, FEI President, and Joe DiLorenzo, FEI Chairman of the Board. |
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Chapter members check in at the Gaylord’s attractive conference center. |
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FEI Technical Committees Update |
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FEI: The Voice of Corporate Finance Click here for updates on FEI Technical Committees:
n Committee on Corporate Reporting (CCR) n Committee on Private Companies (CPC) n Committee on Benefits Finance (CBF) n Committee on Finance and Information Technology (CFIT) n Committee on Government Business (CGB) n Committee on Taxation (COT) n Government Affairs and Public Policy |
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financial |
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cover story:
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Online exclusives:
Is ERM Failure to Blame for Financial Crisis? When Corporate Insolvency Creates Conflicting Duties
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silver sponsors |
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gold sponsors |
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platinum sponsor |
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chapter title sponsor |
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Chapter Sponsors |
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(gold+ sponsor) |
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strategic partners |
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Summer Professional Development Series The Dallas Chapter schedules extra professional development sessions over the summer break to help members stay plugged in and provide additional CPE credits to those who need them. This year we have increased our summer programs to three instead of our usual two. Each program offers 2 CPE credits. An additional bonus to chapter members is that you can invite your financial staff at no additional charge. Advance registration is required for all programs, and we request 48 hours notice of cancellation.
The first of our three summer sessions on June 19 was hosted by UTD’s Executive Education Dept. Chapter President David Springate and Harry Gray, SSG Partners, presented “The Effect of the Financial Crisis and Economic Downturn on DFW-Area Businesses.” As has been our trend throughout the year, this program brought out the highest attendance ever at a summer PD program. Thank you Dr. Springate and Mr. Gray for an excellent kick-off to our summer professional development series.
The 2nd of the three summer programs will be a breakfast session on July 30 at SMU’s Cox School of Business, look for more information in the very near future. A third program is planned for August but date, location and topic are still being determined.
2009-10 Chapter Meetings Dallas Chapter meetings are typically held on 2nd Tuesdays during the chapter year (September to May). There will be some exceptions; look for more information on the meeting schedule later this summer. The primary venue for monthly meetings will continue to be Bent Tree Country Club in North Dallas but as has been our custom in the past, a couple of meetings will be held at alternate venues. In fact, the first meeting of year is on Sept. 8, the day after Labor Day, and Bent Tree is closed so our chapter meeting will be at the Marriott Quorum by the Galleria instead.
September 8, 2009 4:30 pm–Professional Development Session (2 CPEs) 5:30 pm–Cocktails/Networking 6:30 pm–Dinner Program (1 CPE)
Dinner program presented by John Mauldin Recognized Financial Expert and Best-Selling Author
Marriott Quorum by the Galleria 14901 Dallas Parkway Dallas, TX 75254 |
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Chapter Events |
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