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Aon Taps Microsoft Exec for CFO Post

Christa Davies will fill David Bolger's shoes next year, when the current Aon CFO leaves to seek Olympic gold.
Stephen TaubOctober 3, 2007

Aon Corp. named Christa Davies executive vice president, global finance, effective next March. She will replace David Bolger, who announced in May that he is heading to the Chicago Olympic Committee to become its chief operations officer.

At Microsoft, Davies was CFO of the Platform and Services Division (PSD), which includes three publicly reported segments: Windows Client, Server & Tools, and Online Services. PSD is the largest and most profitable Microsoft business division, with revenue 2007 of $28.6 billion and operating income of $14.8 billion in fiscal 2007.

Aon said that at PSD, Davies managed a team responsible for the full financial function of the division including budgeting, financial management, strategy and acquisitions, and investor relations. “Her demonstrated success and international experience in finance, business development, and strategy will serve her well in leading our global financial management team,” said Gregory C. Case, president and chief executive officer of Aon.

Davies joined Microsoft in 2002 and held a series of positions with increasing responsibility within the company, including CFO for Online Services, where she was responsible for budgeting, financial management and control, and external reporting. Previously, Davies served as general manager of strategy and mergers and acquisitions for Windows Client, Service & Tools, and Online Services.

In February, Aon disclosed that incorrect measurement dates for stock options granted in 2000 and earlier “appeared to have been used for financial accounting purposes.” Those grants predated Bolger’s tenure by three years, and a review by Aon’s audit committee found no misconduct by current or former management or directors.

The following month, Aon announced that it would restate its financials for 2003, 2004, 2005, and the first three quarters of 2006. Although those financial statements were released during Bolger’s term, the restatements were the result of adjustments to compensation expenses and tax figures stemming from the incorrect dating of options in 2000.