FOR IMMEDIATE RELEASE:
Monday, March 12, 2007
Sue Cobb or Sarah Moss, Mayor’s Office
Mayor Hickenlooper Appoints Claude Pumilia as Denver's First Chief Financial Officer
Mayor John Hickenlooper announced Thursday his appointment of Claude Pumilia as Denver
’s first chief financial officer (CFO).
Pumilia brings 15 years of experience as a senior operating and financial executive to his new position, which was created in November 2006 when Denver
citizens approved a historic Charter amendment. The vote paved the way for the City to modernize its financial structure by bringing all critical functions under a single accountable executive for the first time. Pumilia’s first task will be to oversee the design and implementation of this new organization to both maximize accountability and efficiency and enhance performance measurement and business process improvement.
“We are incredibly fortunate to have been able to attract someone with Claude’s diversity of experience and track record of success in the private sector,” Hickenlooper said. “I believe he is the perfect person to lead our efforts to make good on the promise of ballot question 1B to implement a financial structure that mirrors the best practices of the public and private sectors, enabling us to deliver better service, performance and accountability for the citizens of Denver.”
Pumilia, who will assume his new post April 16, will lead integration of the City’s financial operations, including accounting, payroll, budget and treasury functions. He will officially begin managing this combined operation in January 2008. He also will oversee the City’s performance measurement and business process improvement efforts. Pumilia brings an impressive background as a senior financial and business executive at such Fortune 100 companies as Compaq Computer Corp., Hewlett-Packard Co. and, most recently, CA Inc. He also served as a strategy consultant with McKinsey & Company Inc.
“I am delighted to join Mayor Hickenlooper and his first-rate team of professionals,” Pumilia said. “The opportunity to lead the creation of a new finance organization for a mayor with a genuine commitment to transforming Denver’s government is compelling. I am excited to join a team of highly skilled and experienced public finance professionals, who will be critical to our success.”
Pumilia’s many significant accomplishments include directing worldwide planning and budgeting for Compaq prior to its merger with Hewlett-Packard and leading the post-merger Value Capture Team, which generated more than $3 billion in ongoing savings. In addition, while serving as senior vice president of finance for CA, he managed a team of 750 financial professionals responsible for financial planning and reporting, accounting and compliance with the Sarbanes Oxley Act.
Prior to joining CA in 2005 in New York
, Pumilia spent three years in Fort Collins
as a vice president of finance for Hewlett-Packard, where he served as divisional controller for several of HP’s most profitable business units. He worked six years with Compaq directing a variety of finance, strategic planning and business development functions. Prior to those positions, Pumilia was an associate at McKinsey & Company, Baker & Botts and Andersen Consulting. He earned a Juris Doctor degree from the University of Virginia School of Law and a Bachelor of Arts degree from Rice University
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