The CFO of the Year Awards are given to professionals for outstanding performance in their roles as corporate financial stewards. This program provides many benefits to the business community by highlighting the important roles that financial executives play within the region. In addition to the awards, a special report was published in the November issue of Arizona Business Magazine with profiles of all the finalists.
Finalists were Bradley C. Anderson, executive vice president of finance and CFO, Amtech Systems, Inc.; Dan Behrendt, CFO, TASER International; Jerome Bruggeman, CFO, RMJ Electrical Contractors, Inc.; Christina Cancino, senior vice president and CFO, Arizona’s Children Association; Sandy Catour, CFO, Sitewire; Ed Czemerych, CFO, Liberty Iron and Metal Holdings, LLC; Ward Huseth, CFO, Great Hearts Academies; Joseph Ivenz, CFO, Marcolin USA; Renee Krug, executive vice president and CFO, Clear Channel Outdoor; Thomas C. Lavoy, CFO, Veolia Transportation on Demand; Shaun McMeans, vice president of administration and CFO, HTG Molecular Diagnostics; David Miller, CFO, Jokake Construction Services, Inc.; Doug Noblitt, executive vice president, finance and accounting, Tallwave; Chris Power, CFO, LifeLock, Inc.; Carlos L. Rojas, CFO, Heard Museum; Ashley Sanders, vice president of finance, Angel MedFlight; Richard Skufza, executive vice president and CFO, LaneTerralever; Debra Thompson, vice chancellor for business services, Maricopa Community Colleges; Christopher L. Turner, director of finance, GlobalMed; Dennis M. Via, CFO, NFP Property & Casualty Services, Inc.; and Shane Wells, Arizona-Nevada market CFO, IASIS Healthcare.
The four winners honored were:
CFO of the Year, Private Company
Thomas B. Fischer, CFO and vice president of finance, OnTrac
Since taking the role in 2000, Fischer has navigated business reorganizations, led the implementation of optimized business practices and collaborated toward the successful launches in five new states, helping to diversify the company’s services and increase customer value. His responsibilities include daily operations of financial and fiscal management.
Impact on OnTrac: In 2013, Fischer coordinated $40 million in new borrowings, which facilitated the buyback of employee stock option plans and the implementation of material handling, as well as allowing for the working capital for increase of business. More than $20 million has been invested into equipment that will help OnTrac increase its package delivery from 50,000 packages a day to more than 300,000 packages a day. This type of automation significantly reduces the cost of delivery to the company.
CFO of the Year, Private Company
Tom Harris, executive vice president and CFO, Arizona Diamondbacks
Harris oversees all financial operations, risk management, administration, stadium operations and ownership relations. His tenure in this organization and in the industry make him an integral officer in assisting the president and CEO and other executives in guiding the organization to success. His knowledge of the inner workings of local government is essential in the day-to-day affairs of stadium related matters.
Impact on Diamondbacks: Harris spearheaded a 2011 debt refinancing, bond tender offer and line of credit with JP Morgan that reduced long-term debt by $1 million and provides for reduced interest expense and improved cash flow going forward. In 2011, he also spearheaded a modification of the team’s concessions agreement that has significantly improved its concessions revenue share.
CFO of the Year, Public Company
Amin Maredia, CFO, Sprouts Farmers Market
In less than two years, Maredia has established a public company finance function while completing a major strategic acquisition, more than $700 million debt refinancing, and leading Sprouts’ initial public offering efforts. In addition, he designed Sprouts’ finance infrastructure, including implementation of analytical tools, which provide the ability to monitor current and accurately forecast future performance. Maredia has also used his vast retail experience to help Sprouts execute its new store selection process and strengthen its position in the market.
Impact on Sprouts: Maredia has been instrumental in establishing the company’s internal control systems. He is a tireless advocate for transparency in not only financial reporting, but all areas of the operations. He has taken a lead role in developing a delegation of authority policy and code of conduct applicable to all company team members.
CFO of the Year, Nonprofit
Tanya Muñiz, CFO, Valley of the Sun United Way
Muñiz administers all financial operations and analysis. Under her leadership, the annual budget has grown from $50 million to $114 million in five years. United Way has very complex financials and undergoes six audits annually, with consistently excellent results and zero findings. Muñiz oversees a department of 20 employees who have flourished under her leadership. She led the development of organizational scorecards for measuring and managing performance. Customer satisfaction with accounting has increased by 25 percent since she became CFO.
Impact on United Way: Muñiz built a 10-year economic model that enables the organization to better plan its work and serves as a foundation for its strategic plans. The model enables Valley of the Sun United Way to see the effects of multi-year grants and major gifts, as well as recognizing that many expenses are long-term investments requiring up-front financing.