September Online Event Helps Treasurers and CFOs Address Economic Impacts of a Surging Dollar
2008-09-16 02:38:01 -
www.fireapps.com - Schwartz Communications Dara Sklar or Britt Gottlieb, 415-512-0770 fireapps@schwartz-pr.com With the value of the U.S. dollar recently surging to a five-year high against the Euro, executives and board members of multinational U.S. corporations are becoming increasingly concerned about an imminent threat to the value of their organizations from foreign currency volatility in the midst of a rapidly approaching earnings season. FiREapps, the leading provider of foreign currency exposure management software, will host a free, one-hour Webinar to help CFOs and treasurers of these organizations anticipate and address critical questions that company executives, board members and analysts will pose to them about the economic impacts of a rising dollar on the company balance sheet, cash flow and market capitalization.
"CEOs and board members I've spoken to in the past 90 days have an immediate recognition of the potential problem they face -- but have no concept of the ultimate business impact," said FiREapps CEO Wolfgang Koester. "What they'll want their treasury team to demonstrate first and foremost is that they have a handle on the situation, and that means quantifying and demonstrating the impact of foreign currency volatility to the bottom line."
On Sept. 17, in a Webinar entitled "The Buck Stops here," Koester will be joined by Nike and Jobster board member and former Microsoft CFO John Connors. Connors will present the issue of the rising dollar and FX volatility from the perspective of a concerned board member, highlighting the specific questions and concerns that are likely to arrive on the doorstep of the CFO and treasurer.
"Companies that experienced FX gains when the dollar was weak are getting nervous," Connors said. "Those company CEOs and board members are going to come to the CFO and the treasury organization looking for specific, concrete data and a specific plan of action to insulate corporate value from FX-related losses."
A recording of the first Webinar in the two-part FiREapps series, "The Dollar Also Rises," originally held on Sept. 10, is available online at www.fireapps.com. During this event, Koester discussed what CFOs and treasurers must do to better understand their company's FX exposure and how to take immediate steps to address the issue. -0- Wednesday, September 17, 2008 11:00 a.m. Pacific/2:00 p.m. Eastern The Buck Stops Here Briefing Executives & Board Members on FX Risk & the Rising Dollar Presented by: John Connors, board member, Nike and Jobster, former CFO, Microsoft Wolfgang Koester, CEO, FiREapps, member AFP Risk Newsletter editorial board
About Koester
Koester is the CEO of FiREapps, the leading foreign exchange exposure software firm. Koester has been managing risk for Fortune 100 companies as well as governments, including G-10s, since 1986. Prior to forming FiREapps, Koester served as president with GFTA Trendanalysen Inc., a quantitative currency manager. Koester holds a Bachelor of Science from Arizona State University and a Master's Degree in International Management from The Garvin School of International Management. Named one of the 100 Most Influential People in Finance by Treasury and Risk in 2007 and a member of Global Exchanges's 2007 "Who's Who in Foreign Exchange" list, Mr. Koester regularly contributes to industry publications including Treasury and Risk, AFP Exchange and GT News.
About Connors
John Connors is a partner at Ignition Partners, LLC, a capital investment firm. Prior to joining Ignition, Connors spent sixteen years at Microsoft Corporation in several strategic roles. From January 2000 to April 2005 he was senior vice president of finance and administration and chief financial officer. Connors also held a variety of positions including vice president of the worldwide enterprise group, where he was responsible for the sales, services and relationship strategy for large, medium-sized and small businesses. Before that, Connors served as vice president and chief information officer. Before serving as CIO, he held a number of positions within and outside finance, including corporate controller, general manager of worldwide financial operations, director of business operations of Microsoft's European headquarters in Paris, and director of business operations of the worldwide sales and support strategy group. John is also a member of the board of directors of Nike, Jobster, BioPassword and Certus corporations.
About FiREapps
FiREapps, a subsidiary of Rim-Tec, Inc., is the leading provider of foreign exchange exposure management software. The company provides technologies and services that help corporations optimize foreign exchange processes. These solutions help customers mitigate risk while increasing profitability and operational efficiencies. FiREapps has offices in Scottsdale, Arizona, Boston, Massachusetts and Portland, Oregon.
ΒΆ FiREapps CEO Wolfgang Koester and Former Microsoft CFO John
Connors Discuss How Companies Must Respond to FX Questions from CEOs,
Boards and Analysts
