OFFICERS & DIRECTORS CHICAGO CHAPTER NEWSLETTER M AY 2003
Sears, Roebuck and Co. CFO
Mark A. Zorko
Tatum CFO Partners, LLP
Executive Vice President
Glenn R. Richter to Address
V.P. Chapter Development
William J. Hudson, III
FEI May Meeting
Margaret A. Johnsson
The Johnsson Group, Inc.
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V.P. & Secretary
TransLumen Technologies, Inc.
Glenn R. Richter Glenn started his career as a consultant
Senior Vice President & CFO with McKinsey and Company.
Midwest Air Technologies, Inc. Sears Roebuck and Co.
Academic Relations Glenn received his B.B.A. from George
Dr. Ellen Landgraf
Glenn Richter was named senior vice Washington University and an MBA
from Duke University.
At Large president and chief financial officer for
USG Corporation Sears, Roebuck and Co. in October Be sure to register now.
Jeffrey T. McReynolds 2002. Registration form is enclosed.
Century Solutions, LLC
Career Services In this position, Glenn is responsible for Directions to hotel on back of
John McLean the company’s financial planning, registration form.
Communications analysis and business development
Stephen Wasko functions. He also leads the enterprise-
Community Outreach/Mentoring wide productivity initiatives for Sears
William S. Seiden
and provides financial support to the Meeting
R. Mark Mallory
corporate strategy group as the company ANNOUNCEMENT
Tribune Company moves forward with its redefined
Membership business plan. Glenn reports to Thursday, May 15, 2003
Northern Trust Corporation Chairman and Chief Executive Officer, Sheraton Suites Hotel
Membership Retention Alan J. Lacy. 121 Northwest Point
Keith E. Kahl
IMC Global Inc. Elk Grove Village, IL
Prior to becoming CFO, Glenn served as
William A. Schrank Vice President of Finance; Vice AGENDA
Outsource Partners International
President and Controller.
Professional Development 5:30 p.m. Cocktails
Previous to joining Sears, Glenn was 6:15 p.m. Dinner
Senior Vice President and CFO for 7:00 p.m. Program
James W. Atkinson Dade Behring International and held
Ariel Capital Management, Inc. RSVP by Monday, May 12, 2003
several positions with PepsiCo.
In The FEI NEWS
Cash Rewards Waiting for You
The FEI national office has just announced an exciting membership campaign.
By recruiting new members to FEI by June 30, you can receive up to a $300 dollar
Amazon.com gift certificate. Each new member earns you a $75 certificate with a
The $300 maximum.
This is a great way for you to introduce several colleagues to FEI, strengthen our
chapter and provide your summer reading material for free. Please take advantage
President of this unique opportunity and be sure to use the special Member-Get-A-
Member application form found on our web site, www.fei.org. If you would like
some promotional material about FEI to pass on to your prospects or for any
help or information regarding recruiting your colleagues, please contact me at
firstname.lastname@example.org or 312-557-0355.
Phil Maughan, Membership Chair
Congratulations to Steve Wasko and Sylvia Novak
FEI Chicago Chapter
for developing a new look for our newsletter! As
one of our objectives this year we wanted to take a
fresh look at our chapter communication efforts Career Management Day and 2003 Golf Outing June 13, 2003
and improve the content we bring to your We have a powerful day planned, beginning with our keynote speaker, Norm
attention. Our next step is to migrate to an e-mail Wesley, the Chairman and CEO of Fortune Brands and continuing with
delivery of the newsletter for next year. individual sessions addressing:
April’s social program at Second City was quite • Today’s CFO Key Competencies;
enjoyable. The improv session was humbling for • Leadership, Mentoring and Coaching for Business Performance;
us, except for a few closet actors in our group. It • Business Ethics: The Real Dilemmas; and
gave us a chance to poke fun at ourselves and • Networking: How Wired Are You?
enjoy a great show. The Golf Outing will feature a Shotgun Start and Scramble Best Ball format at
May’s dinner meeting will provide chapter 1:30 p.m.. Prizes will be awarded for Longest Drive, Longest Putt, Closest to the
members a chance to hear Glenn Richter, Sears’ Pin and Team Scores. Guests are welcome and encouraged, but we are limited to
CFO, discuss the challenges of rejuvenating a 90 golfers, so form a personal or company group and sign up early.
Chicago institution. We will also be hosting Ridge Some sponsorships are still available for the day’s events so if you or your
Braunschweig, the FEI Chairman, and Colleen company are interested, contact Jim Atkinson, Geoff Woie or Paul Palz.
Sayther, the new FEI President. We have also
invited members from the three regional chapters Please sign up and return your check as soon as possible for what promises to be
and the Midwest area chapter presidents, who will an informative and fun day. Included with this newsletter is the brochure and
be in Chicago for an area meeting. Please note the registration form for this key event.
May meeting is at a new suburban location!
June’s career management meeting is geared Two recently issued reports from the Financial Executives Research Foundation
towards all members. John McLean and Jerry are available as a free online download to FEI members:
Herb have put together an outstanding program. · Compliance with the requirements of the Sarbanes-Oxley Act is driving
Norm Wesley, Fortune Brands CEO, and Peter a renewed focus by publicly traded entities on the design and
Crist, a leading search firm executive, will provide documentation of their internal control procedures and structure. The
their views on career management in the morning most widely accepted definition and framework for an effective internal
program. We will also have a golf scramble in the control environment was developed by the Committee of Sponsoring
afternoon, courtesy of John’s persistence and his Organizations of the Treadway Commission (COSO). “What is COSO?
guarantee of perfect Friday afternoon weather. Defining the Alliance That Defined Internal Control” provides a history of
Let me know if you will be attending the annual COSO to understand how it became the defining voice for internal
summit in Orlando. We’ll try to arrange a Chicago control issues.
reception. · Have recent events changed the world of risk? The world has changed
It has been a pleasure for me to serve as the in countless ways in the past 18 months, but what is the real state of
Chapter President during this past year. On behalf risk? Have those responsible for managing risk addressed this change?
of the Board, I would like to thank each of you To discover the truth, CFOs, treasurers and risk managers — the people
for your support. Our attendance at dinner charged with understanding risk and protecting their company’s value —
meetings increased 26% from last year, our from the world’s top corporations were surveyed for the “2003 Protecting
membership held up well despite a tough Value Study”.
economy and special interest groups were launched Both reports are available through the FERF research products website at
for Corp. Controllers and Treasurers. http://www.fei.org/rfbookstore/
I can be reached at 847-477-2784 or at
2 - MAY 2003 CHICAGO CHAPTER
Professional DEVEL OPMENT
Eric and Mark will share how this
approach has helped many of their NEW MEMBERS
AND THE FINANCE clients recently. They will review the We are pleased to welcome the
DATA WAREHOUSE issues and opportunities presented by following new members to the
current financial conditions, discuss Chicago Chapter:
Speakers: Eric Wasowicz, President benchmarks and best practices for
Greenbrier & Russel Herman Brons
financial organizations, and present a
Vice President Finance
Mark Robinson, Business roadmap for financial governance Bakemark Ingredients East, Inc.
Intelligence Practice Manager, utilizing a finance data warehouse. They
Greenbrier & Russel will answer questions related to how to Donald Eldert
Date: Thursday, May 15, 2003 build the business case, how to proceed VP Enterprise Risk Management
with a phased development approach NiSource, Incorporated
Time: 3:30 p.m. – 5:30 p.m.
and provide examples of companies
Place: Sheraton Suites Hotel that have been very successful in Todd Hacker
121 Northwest Point demonstrating strategic value with a Treasurer
Elk Grove Village, IL finance data warehouse. OnDeo Nalco Company
Fee: FEI Members Free Kirk Izydorek
Guests $25 Eric and Mark will discuss benchmarks Director of Finance
RSVP By: Monday, May 12, 2003 of leading organizations related to key Edward Don & Company
financial business processes like
The Accounting Reform Act has forecasting, budgeting, closing the Karla Mansfield
increased the importance of accurate books, dedicated analysis time available Vice President & CFO
and the distribution of FTEs required Delta Dental Plan of Illinois
financial information, adequate
financial controls and complete and to service the finance function per
billion $ in revenue. Joseph Prochaska
timely disclosure. In addition, attention SVP & Controller
and focus on “operational excellence” AON Corporation
has created a demand for near real-time They also will discuss the implications
information of the key indicators of of the Accounting Reform Act on Haus Schuster
the business to ensure timely business control, reporting and analysis from a Chief Financial Officer
decisions. The finance data warehouse finance data warehouse. Ada S. McKinley Community
is an enabling technology that Services, Inc.
empowers financial executives to meet
all of these demands.
Outsource Partners Int’l., Inc.
Manager Financial Planning
FMC Technologies, Inc.
Does FEI have your current e-mail address?
The Chicago FEI Board of Directors is
considering the distribution of the FEI
Chicago Newsletter via e-mail. Make sure
your e-mail address is on file with FEI
CHICAGO CHAPTER MAY 2003 - 3
May 2003 June 2003
Calendar of Events
Financial Executives Summit Career Management Day
May 4-7 Friday, June 13, at 7:30 a.m.
Disney Yacht Resort Lincolnshire Marriott
Orlando Florida Lincolnshire, Illinois
Keynote Speaker: Norm Wesley
FEI Professional Development Chairman & CEO
Meeting Fortune Brands
Thursday, May 15, at 3:30pm
Sheraton Suites Hotel Golf Outing
121 Northwest Point Friday, June 13, 1:00 p.m.
Elk Grove Village, Illinois Lincolnshire Marriott
FEI Dinner Meeting Shotgun Start and Scramble Best Ball
Thursday, May 15, at 5:30pm
Sheraton Suites Hotel
121 Northwest Point
Elk Grove Village, Illinois
Guest Speaker: Glenn R. Richter
Senior Vice President and CFO
Sears, Roebuck and Co.
FEI Meeting Attendees are welcome to wear business casual attire to all meetings.
330 South Wells Street
Chicago, IL 60606
Tel: (312) 362-9770 Fax: (312) 461-0238
In This Issue 2003
Dinner Meeting with
Glenn R. Richter, Senior Vice President
Sears, Roebuck and Co.
Career Management Day and
FEI Golf Outing