Baxter International Inc. has announced today that its Board of Directors has elected Todd S. Young as treasurer and a corporate officer of the company.
Young will report to Baxter’s chief financial officer, Robert Hombach, succeeding James K. Saccaro in the role. Saccaro has assumed a senior leadership role within the company’s Medical Products commercial organization.
In his previous role, Young served as vice president, international finance for Baxter. He joined the company in 2001 as corporate tax counsel, and over the years assumed positions of increasing responsibility, including vice president of international tax, assistant treasurer, vice president, finance for the company’s Asia Pacific region, and vice president, corporate planning and analysis. Prior to joining Baxter, he worked as a tax attorney at Sidley & Austin. Originally from Hiawatha, Kansas, Young earned his bachelor’s degree in economics from Grinnell College and his law degree from the University of Michigan.
VSP Global(SM), the industry leader in the delivery of eyecare and eyewear through innovative business solutions and quality vision products, today named Yasmin R. Seyal as its Vice President, Global Treasurer. Seyal will oversee the company’s various treasury functions, and direct global tax strategy and compliance, reporting to VSP Global Chief Financial Officer Donald J. Ball.
Most recently, Seyal served as Senior Vice President and Chief Financial Officer for GenCorp Inc., a Northern California-based technology manufacturing company that specializes in aerospace and defense, as well as real estate. Prior to GenCorp Inc., Seyal held numerous positions with PricewaterhouseCoopers.
“With more than two decades of financial experience, including international finance, Yasmin brings a unique and accomplished set of skills that will benefit VSP Global as we move into the future,” said Ball. “We look forward to the broad expertise she offers across critical areas of business, including acquisitions, tax and finance, divestitures, strategic planning and change management.”
Seyal is a Certified Public Accountant (CPA) and received a Master of Arts degree from the University of Aberdeen, in Scotland, and a Master of Science degree in Taxation from Golden Gate University, in San Francisco, Calif. In 2010, Seyal earned the Chartered Director designation from the Directors College, a joint venture of McMaster University and the Conference Board of Canada.
About VSP Global
VSP Global(SM) offers world-class products and services to eyecare professionals, employers, and more than 55 million members through a group of leading companies providing comprehensive eyecare coverage, access to cutting-edge frame styles and brands, design of custom interiors and merchandising systems, innovative e-commerce and practice management solutions, and technologically advanced lab services. With the strength and experience of these companies behind it, VSP Global stands apart and delivers benefits, services, products and solutions that are unparalleled in the world-wide optical industry.
AGL Resources has announced that Steve Cave has been given the additional title of treasurer of the company, and that Grace Kolvereid has been named vice president of tax.
“We are fortunate to have these two talented individuals in our finance organization, and today’s announcement recognizes the outstanding quality of their work on behalf of the company,” said Andrew W. Evans, executive vice president and chief financial officer.
“Steve has done an excellent job managing our treasury function over the past year, a time when we have successfully completed nearly $1.5 billion in financing transactions, and will continue to bring significant value to the company in that regard,” Evans said. “With a strong background in global tax planning, Grace has completely restructured and modernized our tax organization and has developed tax strategies that optimize our business efficiency and provide significant value to the corporation. I am proud to be able to recognize both Steve and Grace at this time.”
Cave, who joined AGL Resources in 2001, most recently has served as vice president of finance, overseeing the company’s treasury and finance operations, including corporate finance, cash management, capital markets activities, bank and rating agency relationships, investor relations, corporate budgeting and business development. Previously, Cave was managing director of investor relations for the company, and also has served as director of financial and external reporting. He serves on the American Gas Association Finance Committee, and is a member of the National Association of Corporate Treasurers and the Association for Financial Professionals. Cave attended Transylvania University and has a bachelor’s degree from the University of Louisville. He also completed graduate coursework in the University of Louisville MBA program.
Kolvereid joined AGL Resources in 2006 as managing director of Corporate Tax, overseeing the company’s federal, state and international tax compliance, tax planning and tax accounting. Earlier, Kolvereid spent 11 years with Delta Air Lines in a number of domestic and international tax management positions, and was responsible for federal, state and international tax planning. She is a member of the Tax Executives Institute and the American Gas Association Taxation Committee. Kolvereid earned her bachelor’s degree in accounting from Lehigh University and master’s in taxation from American University. Kolvereid is a Certified Public Accountant.
About AGL Resources
AGL Resources (NYSE: AGL), an Atlanta-based energy services company, serves approximately 2.3 million customers in six states. The company also owns Houston-based Sequent Energy Management, an asset manager serving natural gas wholesale customers throughout North America. As an 85-percent owner in the SouthStar partnership, AGL Resources markets natural gas to consumers in Georgia under the Georgia Natural Gas brand. The company also owns and operates two high-deliverability natural gas storage facilities: Jefferson Island Storage & Hub near the Henry Hub in Louisiana and Golden Triangle Storage in Texas.
JPMorgan Chase & Co. today announced new responsibilities for three members of its senior leadership team:
* Heidi Miller, head of Treasury & Securities Services (TSS), has been named President of International.
* Michael Cavanagh, Chief Financial Officer, will succeed Ms. Miller as Chief Executive Officer of TSS.
* Doug Braunstein, head of Investment Banking, Americas, will succeed Mr. Cavanagh as Chief Financial Officer.
“Over the years at JPMorgan Chase we have worked hard to build a highly talented senior management team,” said Jamie Dimon, Chairman and CEO. “In developing great leaders and building a strong company, we focus on continually broadening the experience of our executives and working to deploy their talents and expertise across the organization. Our firm has developed an excellent management bench, and today’s moves reflect our goal of building on our team’s experience and providing them with new opportunities to make our company even better.”
As part of today’s announcement, the company has created the new role of President of International. JPMorgan Chase has built a world-class international banking franchise, but the company believes prospects for further growth in all of our businesses outside the United States are significant. This important new role will augment – not replace — business lines around the world, helping them accelerate and prioritize their efforts and their investments for growth.
Working with her senior colleagues, Ms. Miller will develop a comprehensive and coordinated international business strategy and growth plan – ensuring that the company identifies opportunities for growth all over the world; accelerates its expansion in countries like China, Brazil, India, and Russia; seeks out opportunities in other emerging economies; properly resources and governs lines of business and functions; continues the build-out of local branches; and cuts out any bureaucracy and inefficiencies.
Ms. Miller will take the lead in further expanding our global Corporate Bank, managing it in close coordination with Investment Bank CEO Jes Staley as well as with TSS Head Mike Cavanagh. As part of her new responsibilities, Ms. Miller will also chair a newly formed International Operating Committee, consisting of the firm’s senior global leaders, and she will focus on growing our international branches across lines of business.
Jamie Dimon said, “The breadth and depth of Heidi’s international business and leadership expertise are virtually unmatched in our industry, and I’m very excited about her taking on this important new role.” Regarding her new responsibilities, Ms. Miller added, “JPMorgan Chase is uniquely positioned for extraordinary success and growth globally if we work together and execute well, and I’m very fortunate to be leading this effort.”
Mike Cavanagh, who has been the company’s Chief Financial Officer since 2004, will become CEO of the TSS business. As CFO, Mr. Cavanagh provided broad leadership throughout the company’s major merger integration efforts, and he played a key role in helping the company successfully navigate the financial crisis over the past few years.
“Mike Cavanagh has done an outstanding job as CFO of our company and has built one of the most respected financial teams in banking,” said Jamie Dimon, adding, “Mike is well-suited to build on Heidi’s success as the new head of TSS, one of our six major businesses.”
Mr. Cavanagh said, “I am grateful for the opportunity I’ve had to be CFO of JPMorgan Chase through such interesting and tumultuous times, and I want to thank all of my Finance colleagues for their hard work and support over the past six years. At the same time, I couldn’t be more excited about the opportunity to succeed Heidi in leading our TSS business, and I look forward to building upon her success.”
Doug Braunstein, who has served as head of Investment Banking for the Americas, will become Chief Financial Officer and a member of the firm-wide Operating Committee. Prior to heading Investment Banking, Americas, Mr. Braunstein served in a number of senior Investment Banking roles, including as head of Global Mergers and Acquisitions. He has been a member of the firm’s Executive Committee since 2005.
“Doug is a tremendous leader and has helped build our leading client franchise within the Investment Bank over the past decade. I’m very proud of the talent we have developed at our firm, and it’s great news that we have someone with Doug’s exceptional client experience, seniority and seasoned financial thinking to take on the critical role of CFO,” Dimon said.
Mr. Braunstein added, “I am truly honored to take on this important role. I am committed to working closely with our entire Operating Committee to continue to maintain our fortress balance sheet, including our focus on risk management, capital strength and liquidity, strong loan-loss reserves, and clear and transparent reporting and accounting.”
The company will shortly announce a successor to Mr. Braunstein as head of Investment Banking, Americas.