Judith Cushman & Associates

Retained Executive Search in Communications

Notes prepared by Judith Cushman, Moderator

NIRI Seattle Chapter Luncheon, Washington Athletic Club, Seattle, May 9, 2006

Career Trends in Investor Relations

Introduction to the program by Judith Cushman

Presenting:

Doug Wisdorf, WAMU

·         Remarks about his background, roles and responsibilities at WAMU

·         His experience with the IR and Corporate Communications function and how they have worked together and why

·         What qualities have been essential in a successful IR practitioner?

·         What knowledge base is desirable?

·         What educational foundation is needed and why?

Presenting:

Arvind Sood, AMGEN

·         Remarks about his background, roles and responsibilities at Amgen

·         A global perspective and what does that mean/how does that impacts the IR function?

·         Observations about how the IR function has evolved and been structured to meet the needs of the investment community and the company

·         What is your viewpoint about how the IR function is changing or not in response to Reg FD, profile of analysts and investors, SOX and other business pressures?

For Both:

·         It would be interesting to share your thoughts about the overall investor relations approach employed by companies—reactive vs. proactive and how investor Relations practitioners demonstrate their utility to the organization.

·         What trends do you see in the actual content of IR positions? Is there a new skill set needed for a practitioner to succeed in the IR function?

·         What are the pros and cons of a function that combines IR and Corporate Communications under one manager/leader?

·         What structure do you feel makes sense for small to mid-cap companies, vs. your own organization (large cap?)

·        What knowledge and skill sets have you seen on the Corporate Communications side that qualify or do not qualify those professionals to manage a combined function?

Mr. Wisdorf has observed first hand the various ways that Investor Relations and Corporate Communications have worked together at WAMU. He was an integral player on the Investor Relations team from the time the company became public in 1983. Mr. Wisdorf has spent 30 years with Washington Mutual starting as a staff accountant and moving through responsibilities as Controller and CFO for IT and Corporate Services, as well as the CFO for Technology Solutions Group. He was named to his current position in 2004. He has a BA in accounting from the University of Washington, an MBA in Finance from Seattle University and CPA certification. http://www.wamu.com (NIRI member)

Mr. Sood has seen IR practiced through a series of acquisitions played out on a global stage. He has a broad perspective to share with us about the role of IR when positioning and perception are critical issues. He will comment on the blended role found in smaller life science companies where IR and Corporate Communications are often combined. Mr. Sood has a career spanning over 20 years in the pharmaceutical industry. Prior to Amgen, he served as Senior Vice President of Investor Relations and Financial Communications for Aventis, S.A. in Strasbourg, France, where he oversaw global investor relations activities. Prior to Aventis, he spent over 12 years with The Upjohn Company, Kalamazoo, Michigan and held posts in sales, marketing and IR. Mr. Sood received a Bachelor's degree in Business Administration from Western Michigan University and an MBA from Central Michigan University. http://www.amgen.com (NIRI member)

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