Goes By: Chuck
Title: Vice Chairman of the Board (Retired)
Company: AT & T Corp.
Born: Eureka, Calif., Aug. 23, 1952
Spouse: Lisa, for 24 years
Children: Michelle, 19; Jennifer, 13
Education Summary: BS, Business Administration, 1973, California State University, Northridge; MS, Accountancy, 1995, California State University, Northridge; Certified Public Accountant, California, 1975
Career Summary: 1973-90: Deloitte & Touche (then Haskins & Sells), Los Angeles, became a partner, appointed National Industry Director for the aerospace and defense industry; 1990-96: Hughes Electronics Corp., Los Angeles, defense and automotive electronics, satellite and wireless communications industries, Corporate Vice President and Controller, Corporate Senior Vice President and CFO and Director, Vice Chairman; 1997, United Technologies Corp., Hartford, Conn., Executive Vice President and CFO; later in 1997, returned to Hughes as President and COO; 1999-2002, AT & T Corp., Basking Ridge, N.J., Senior Executive Vice President and CFO, Director and Vice Chairman of the Board of Directors; 2002, Board of Directors, Northrop Grumman Corp., Los Angeles; 2003-05, Director and Corporate Vice President and CFO, Northrop Grumman Corp.
Boards of Directors (currently): Microsoft Corp., Chairman, Audit Committee and member, Finance Committee; Morgan Stanley, Chairman, Audit Committee; Air Products & Chemicals Inc., member, Management Development & Compensation Committee, Corporate Governance & Nominating Committee and Executive Committee. Also serves on the Board of Directors and Executive Committee of the Los Angeles County Music Center, as a Director of the California State University, Northridge Foundation.
FEI Chapter: Los Angeles (since early 1990s)
Leisure: Travel, tennis and (recently) golf lessons.
Stress Management: Find time to exercise every day. Whether it is spending time in the gym or walking around the block after lunch, we all need the opportunity to clear our heads.
If I could, I'd spend one hour with: Walter Cronkite. This is a man who has witnessed and reported some of the most memorable events in our nation's history. In his time, he was also widely viewed as "the most trusted man in America."
Who is your hero? I don't really have any "heroes," but I have been fortunate to know a number of extraordinarily talented people. One, Mike Armstrong, my boss at Hughes and AT & T, taught me some important life lessons. Mike approached every day with a positive attitude and enthusiasm for the task at hand. He also treated everyone he met with respect and consideration--regardless of their accomplishments or station in life. Most importantly, he was demanding when it came to delivering results, but insisted on execution with honesty and integrity.
What's the best advice you've ever received? Apply the "New York Times" test to difficult decision-making. Essentially, if you were to read about your decision on the front page of the newspaper, would you be proud of it? If not, rethink the decision. It really comes down to doing the right thing.
Favorite Job: My favorite time was my years at AT & T. Building and working with a first-class financial team through some extraordinarily turbulent times in the telecommunications industry was exciting and challenging. Successfully executing a difficult and complex financial strategy during that period, with integrity, was very satisfying.
Favorite Deal: The restructuring of AT & T, code-named "Project Grand Slam," was the most interesting and complex set of transactions I have ever led. Numerous strategic and capital markets transactions made up the restructuring, including the negotiation of a $25 billion credit facility, multibillion-dollar equity and debt exchange offerings, a $10 billion-plus global bond offering, the spin-off of AT & T Wireless and Liberty Media to shareholders, and the competitive process, which resulted in the $72 billion merger of AT & T's cable television business with Comcast Corp.
What inspires you? Over 20 years ago, Barry Huff, a former colleague and valued mentor, advised me to "train hard, fight easy." The point: rigorous preparation--business or athletic context--usually results in easier and frequently successful outcomes.
--Edited by Ellen M. Heffes
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|Author:||Heffes, Ellen M.|
|Date:||Jul 1, 2006|
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