Financial Executives International (FEI), the association for financial executives, has announced that Dennis D. Dammerman, former vice chairman of the board and executive officer of General Electric Company, and Donald T. Nicolaisen, former U.S. SEC chief accountant and co-chair of the U.S. Treasury Department’s Advisory Committee on the Auditing Profession, have been selected as the 2009 inductees to the FEI Hall of Fame. Now in its fourth year, the FEI Hall of Fame recognizes individuals who epitomize the performance, leadership and integrity of the most exemplary financial executives throughout their careers.
Dammerman and Nicolaisen will join an impressive roster of past inductees, which includes Dennis R. Beresford (2006), Frank J. Borelli (2006), F. Gorham Brigham, Jr. (2006), Thomas Jones (2007), Robert W. Moore (2006), Charles H. Noski (2006), John F. Ruffle (2008), Susan Schmidt Bies (2008), and Samuel Siegel (2007). The honor was established in 2006 as part of FEI’s celebration of its 75th anniversary as a professional organization. The 2009 class of inductees will be formally honored during an induction ceremony at the FEI Hall of Fame black tie gala dinner on November 16, 2009 at the New York Palace in New York City. The event will be hosted by CNBC correspondent Bob Pisani.
“Each year, FEI looks forward to shining the spotlight on dedicated and well-deserving individuals who represent executive excellence in the finance profession with their admission into FEI’s Hall of Fame,” said Marie Hollein, President and CEO of FEI. “We are exceptionally pleased to recognize the tremendous achievements of Mr. Dammerman and Mr. Nicolaisen, both of whom exemplify the values that have been crucial to FEI since our formation in 1931 – leadership, ethics and innovation.”
“Microsoft continues to take pride in sponsoring FEI’s Hall of Fame for the third consecutive year, and we join in applauding this year’s inductees,” said Frank H. Brod, Corporate Vice President, Finance and Administration and Chief Accounting Officer, Microsoft Corporation. “The FEI community is comprised of financial leaders whose high caliber is second to none. The 2009 Hall of Fame recipients have demonstrated innovation, integrity and a standard of professional excellence throughout their careers, qualities that we at the Microsoft Corporation strongly uphold.”
A look at the inductees’ significant accomplishments and impact on the financial community includes:
Dennis D. Dammerman served as vice chairman of the board and executive officer of General Electric Company from 1998-2005. Over this period of time, he was also named director, chairman and chief executive officer of GE Capital Services, having served on the GE Board of Directors since 1994. Throughout his distinguished 38-year career with the company, Dammerman held positions of increasing importance, including being appointed chief financial officer in 1984 while concurrently served as the chairman and CEO of Kidder, Peabody Group, Inc. between 1994 and 1995 prior to its sale to PaineWebber.
Dammerman currently serves on the Boards of Directors at BlackRock, Inc., American International Group, Inc., Capmark Financial Group, and the Municipal and Infrastructure Assurance Corporation. He was a FEI member from 1984 to 2005.
Donald T. Nicolaisen, CPA, formerly served as the chief accountant at the U.S. Securities and Exchange Commission from 2003-2005. He was also selected by the U.S. Department of the Treasury to serve as co-chair of the Advisory Committee on the Auditing Profession, which issued its report in 2008. Prior to joining the SEC, Nicolaisen was a senior partner at PricewaterhouseCoopers where he was a member of the board, chaired the partner affairs committee, led the financial services practice and served as the engagement and global relationship partner for several of the firm’s largest clients.
Currently, Nicolaisen sits on the Board of Directors at Morgan Stanley, MGIC Investment Corporation, Verizon Communications, Inc., and Zurich Financial Services in addition to serving in a variety of advisory capacities to several Fortune 25 companies. He has also been an active participant with the Financial Crisis Advisory Group, a group of experienced leaders that provides advice to the International Accounting Standards Board and U.S. Financial Accounting Standards Board, and is on the Board of Advisors at the University of Southern California’s Leventhal School of Accounting.
Nominees were evaluated on their exceptional attributes in categories considered essential to executive excellence, including individual and organizational performance, leadership, integrity and respect for others, innovation, and community involvement. Inductees were selected by a committee comprised of corporate leaders that include current and past FEI leadership.