The Roundtable format was well received by the over 100 who registered for this annual session. Converstation was active between the audiance and our Audit experts and Directors who sharee their views and experiences on the hot topics and issues facing you and your Audit Committee in 2018 with an active and fast-paced round table discussion. The networking reception was very well attended.
Panelist Kapila Anand recently retired from KPMG where she served on KPMG’s Board of directors for the U.S. and Americas and as Chair of the KPMG Foundation. During her tenure she also served in other leadership roles as Partner in charge of KPMG’s Public Policy Business Initiatives and as a leader for Travel, Leisure & Hospitality serving Fortune 500 clients worldwide. Ms. Anand served clients both as an audit partner on NYSE registered clients as well as a partner in KPMG’s Advisory Services practice.
Ms. Anand currently serves as the chair of the Nominating and Governance committee of the board of Extended Stay America, Inc. and the Audit Committee chair of ESH Hospitality Inc. (NYSE: STAY). She also serves as the Chairman and Lead Director of the WomenCorporateDirectors Education & Development Foundation, a Trustee of Rush University Medical Center and U.S. Fund for UNICEF. Ms. Anand is a frequent speaker at industry/governance forums and was awarded the “Women to Watch” award by the Illinois CPA Society. Additionally, she was recognized by Equilar as a “2017 Director to Watch”. Ms. Anand has been a member of the Chicago chapter of NACD for many years and holds a BS in Accounting and Computer Science and an MBA from Michigan State University. She is a licensed CPA in Illinois and a member of both the Illinois and American Institutes of CPAs.
Panelist In 2012, Mr. Anderson retired as the Vice Chair and Midwest Area Managing Partner of Ernst & Young, after a 35-year career. In that capacity, Mr. Anderson oversaw a practice of 3,500 audit, tax, and transaction professionals serving clients through the Midwest. Mr. Anderson also served for six years in the Los Angeles area as managing partner of EY’s Pacific Southwest region. Mr. Anderson served as a member of Ernst & Young’s governing body, the Americas Executive Board. Mr. Anderson currently serves on the boards of Exelon (energy and utilities), where he is chairman of the audit committee, and member of the risk and generation committees; Avery Dennison Corporation (labeling and packaging materials), where he serves on the audit / finance and governance committees; and AAR Corp. (aerospace and defense), where he serves on the compensation committee. Mr. Anderson is also an affiliated partner with Lindsay Goldberg, a New York based Private Equity firm. Mr. Anderson previously served as a director of the Federal Reserve Bank of Chicago. Mr. Anderson is the chairman of the board of the Perspectives Charter School. He is the past chairman of the Chicago Urban League, board member of the Regional Transportation Authority and member of the executive committee for World Business Chicago. Mr. Anderson is a member of the American, California, and Illinois Institute of Certified Public Accountants.
Panelist Dennis Chookaszian is the retired chairman and chief executive officer of CNA Insurance Companies.
Mr. Chookaszian served as CNA’s chairman and chief executive officer from 1992 until 1999. He also served as chairman of the executive committee of CNA from 1999 to 2001. From 1990 to 1992, Mr. Chookaszian served as CNA’s president and chief operating officer, with responsibility for all property and casualty, life, health and investment operations. Mr. Chookaszian joined CNA in 1975 and served as chief financial officer until 1990 when he was named president. He also served as chairman and CEO of mPower Inc, an internet financial advisory service, from 1999 to 2001. Prior to joining CNA, he was a management consultant with Deloitte for eight years working on various financial and systems related assignments.
Mr. Chookaszian served as chairman of FASAC (Financial Accounting Standards Advisory Council) which provides guidance to the FASB (Financial Accounting Standards Board) on accounting matters for five years and completed his term in 2011. He is also a member of the FCAG (Financial Crisis Advisory Group) which is the international commission that was created to develop recommendations to solve the financial reporting problems associated with the current economic problems.
During his career, he has served as a director on the boards of thirteen publicly traded corporations and fifty private corporations. He is currently a director of the Chicago Mercantile Exchange, the world’s largest derivatives exchange, Career Education, a private post-secondary education provider, Prism Technologies Corp, a firm that licenses Internet Patents, MacDonald Dettwiler, a space satellite technology company, and Pillarstone Capital, a real estate investment trust. He also serves as a director of a number of private corporations and has served as an arbitrator in ten diverse cases and an expert witness in five cases.
Mr. Chookaszian is an Adjunct Professor at the University of Chicago Booth School of Business and teaches courses in Corporate Governance. He also teaches a course in International Corporate Governance at Cheung Kong University in China, Shanghai Advanced Institute of Finance in China, and at IIPM in India.
Mr. Chookaszian is a member of the national board of the Boy Scouts of America, a trustee of Northwestern University, a member of the advisory board of the University of Chicago Booth School of Business, and a member of the advisory board of Kellogg Graduate School of Management. He is also a director of Northwestern Memorial Hospital and president of the Foundation for Health Enhancement.
Mr. Chookaszian has a bachelor’s degree in chemical engineering from Northwestern University, a master’s degree in business administration from the University of Chicago, and a master of science degree in economics from the London School of Economics. He is a Certified Public Accountant, a Chartered Global Management Accountant, Chartered Property Casualty Underwriter, and a Certified Management Consultant as well as a member of the directors’ table of Beta Gamma Sigma, an honorary fraternity. In 2010, Mr. Chookaszian received the Outstanding Director Award from the Financial Times Outstanding Directors Exchange.
Panelist Frank Jaehnert is the former President & CEO of Brady Corporation (NYSE: BRC), an international manufacturer and marketer of complete identification solutions, a position he held from 2003 until his retirement in 2013. Before that he served as its Chief Financial Officer and as a divisional President. Prior to joining Brady Corporation in 1995, he held various financial positions in Germany and the US at Robert Bosch GmbH, a multinational engineering and electronics company, and the world's largest supplier of automotive components. Mr. Jaehnert received the equivalent of a Master of Business Administration degree from the University of Stuttgart, Germany. He serves on the Board of Directors of Nordson Corporation (Nasdaq: NDSN), Briggs & Stratton Corporation (NYSE: BGG), Itron, Inc. (Nasdaq: ITRI), as well as on the Board of Regents of the Milwaukee School of Engineering. He is a Member of the Board of Directors of NACD (Chicago Chapter) and NACD Board Leadership Fellow. He was a regional winner of the EY Entrepreneur of the Year program in 2008, and has been a national and regional judge of the program for many years. Frank also serves frequently as a panelist on M&A, Corporate Governance as well as Audit Committee matters.
ModeratorMark Zorko chairs Nominations/Governance, previously chaired Audit and Strategic Advisory and is on the Audit and Compensation Committees of Perma Pipe Int’l Holdings (NASDAQ: PPIH). He was recently appointed to the Board and Chair of the Audit Committee for Westell Technologies (NASDAQ: WSTL). He has been a public company CFO and CIO for manufacturing, service, health care and high-tech firms. His background includes over 20 years of Board experience. Mr. Zorko has also been the interim CEO of Well Services Ltd. He also serves on the Board of Military Outreach USA, the Audit Committee of Opportunity International and was previously on the Board for St. Alexius Medical Center. Mr. Zorko also serves on the NACD’s Chicago Chapter Board and has completed its Leadership Fellow certification. He began his career as a CPA at Arthur Andersen and Honeywell in the U.S. and Europe. He received his MBA in IT from the University of Minnesota and his BS in Accounting from Ohio State University.