Over the last several years, TFS has delivered strong core business growth and significant gains in operating profit, managed assets, contracts and wholesale dealers at a time when our customer needs are changing and the competition is increasing. The organization has also responded by creating Toyota Financial Savings Bank, growing our international responsibility, and strengthening our capabilities in all areas of our business including Treasury, Finance, CSC Operations and Consumer Marketing. To recognize these achievements and position the company for future growth, the following promotions/moves were made and became effective Dec. 4, 2006: Group Vice President Promotions
John Stillo, Vice President and Chief Financial Officer, has been promoted to Group Vice President and Chief Financial Officer. Stillo, who joined TFS in 2001, will continue to oversee Finance, Treasury, Tax and Accounting. In addition, he will assume responsibility for Risk Management. In his expanded role, he has also been appointed TFSC Global Chief Risk Officer reporting to E. Hirano, Toyota Financial Services Corporation (TFSC), for his global responsibilities. Chris Ballinger, Vice President – Treasury, has been promoted to Group Vice President – Treasury. In his new role, Ballinger will continue to oversee the Treasury Department, which encompasses Financial Risk Management, Sales and Trading, Capital Markets and Cash Management. In his expanded role, he will also be responsible for Global Treasury for TFSC. Ballinger will report to E. Hirano, Toyota Financial Services Corporation (TFSC) for his global responsibilities and will continue to report to John Stillo, Group Vice President and CFO, for his U.S. responsibilities. Geri Brewster, Vice President and General Counsel, has been promoted to Group Vice President and General Counsel. Brewster continues to oversee the Legal department and the operations of the Toyota Financial Savings Bank (TFSB). She joined TFS in 1989 as Counsel in the Legal department and also held the roles of Corporate Manager and Vice President of TFS Human Resources and Real Estate. Mike Groff, Vice President - Planning, Commercial Finance and International Operations, has been promoted to Group Vice President – Planning, Commercial Finance and International Operations. Groff, who joined Toyota in 1983, will continue to oversee Strategic Planning, Corporate Communications, Dealer Credit, Commercial Finance, International Operations, the long term Fleet initiative and, as Group Vice President of the Americas Region, Toyota Credit Canada Incorporated (TCCI) will now report to him. Vice President Promotions
Tom Kiel, Corporate Manager and Chief Accounting Officer, has been promoted to Vice President and Chief Accounting Officer. Tom will continue to oversee Financial Planning, Operations Accounting, Regulatory Affairs, Corporate Tax and Treasury Operations. He will continue to report to John Stillo, Group Vice President and CFO. Dave Nordstrom, Corporate Manager – Product and Marketing, has been promoted to the position of Vice President – Product and Marketing. He will continue to oversee the Strategic Marketing function, which includes Market Planning, Product Development, Marketing, Brand, and Remarketing. Nordstrom, who joined TFS in 1990, will continue to report to Dave Pelliccioni, Group Vice President – Sales and Marketing. Corporate Manager Promotions/Moves
Katherine Adkins, Managing Counsel, has been promoted to Corporate Manager and Assistant General Counsel. She will continue to be responsible for the transactional practice, which includes dealer wholesale, real estate, commercial finance, vendor, IT and service agreements, and international. Adkins, who joined the company in 2000, will continue to report to Geri Brewster, Group Vice President and General Counsel. Ron Hom, National Manager – Enterprise Program Management (EPM), has been promoted to the position of Corporate Manager – Enterprise Program Management. He will continue to be responsible for EPM and Project Revolution project management. In addition, the Business Technology Solutions (BTS) Project Management Office (PMO) will report to him. Hom, who joined TFS in 2004, will continue to report to Shaun Coyne, Vice President and CIO. Reddy Pakanati, Corporate Manager – TFSB, has been appointed to the position of Corporate Manager and Chief Risk Officer replacing Danny Ray. In his new role, Pakanati, who joined the company in 1997, will oversee the Risk Management function for TFS which includes Enterprise Data Warehouse and Customer Analytics. He will report to John Stillo, Group Vice President and CFO. Mike Owens, National Manager – Wholesale, has been promoted to Toyota Financial Savings Bank (TFSB) Corporate Manager – Banking Products. Owens, who joined TFS in 2002, assumes Reddy Pakanati’s role and will oversee both dealer and consumer banking. His responsibilities will also include TFSB Risk Management, Dealer and Field Channel Management, TFSB Strategy, TFSB Analytics, Dealer Banking Products, Credit Card, and other new product development. He will also gain the additional responsibility of managing the TFSB Dealer Banking Sales team. He will report to Ray Specht, President and CEO of TFSB. Andy Kirkpatrick, National Manager – International Operations, has been promoted to Corporate Manager – International Operations. He will continue to oversee the TFS Americas Region international operations and report to Mike Groff, Group Vice President - Planning, Commercial Finance and International Operations. Tom Sullivan, National Manager and Managing Director – Toyota Services de Mexico, has been promoted to Corporate Manager and Managing Director – Toyota Services de Mexico (TSM). Tom will continue in his capacity as Managing Director overseeing the operations of TSM. Tom’s leadership has been instrumental in growing TSM and, at present, is managing the company through rapid growth. He will also continue to report to Mike Groff, Group Vice President - Planning, Commercial Finance and International Operations. Larry Keys, National Manager and Managing Director – Toyota Services de Venezuela, has been promoted to Corporate Manager and Managing Director – Toyota Services de Venezuela (TSV). Keys will continue to report to Mike Groff, Group Vice President - Planning, Commercial Finance and International Operations.