Fri, Mar 26, 2004
We're expecting a
release shortly, but we've received info that indicates that FAA
Administrator Marion Blakey has named Cendant Corp's Ramesh Punwani
to be the FAA's new CFO. Punwani holds a Master's in business
administration in finance from New York University and a Master's
in management science from Cornell University. He received a
Bachelor's in industrial engineering from the Indian Institute of
Technology (India). More recently, Ramesh was VP of tour and cruise
relations and director of business development for American Express
before joining Travelocity.com. From September '93 to '96, he was
Sr. VP and CFO for Empire Blue Cross and Blue Shield.
An internal FAA memo sent by Blakey reportedly noted that,
"After a long, careful search, we have found the right person with
the right mix of skills and experience for the critical job of
Chief Financial Officer for the FAA. Ramesh Punwani, senior
vice president of business strategy for Cendant Corporation, has
agreed to join our team. We are fortunate to get someone of his
caliber. He brings financial, management and technical skills
that are tailor made for the agency."
In taking on the flight
responsibilities of the FAA CFO, Ramesh will have to supervise and
administer the FAA’s $14 billion operating budget, "as well
as the development and agency-wide application of cost accounting
and financial management systems."
Blakey praised Punwani's qualifications and explained that,
"...his background in aviation and the travel industry spans over
three decades. It includes CFO and vice president positions for
Tower Air, Pan Am and TWA. Prior to Cendant Corp, Ramesh was the
executive vice president and CFO of Travelocity.com as the Internet
travel company grew into a $3 billion enterprise and the largest
public e-travel company."
Blakey also noted that, "With the selection of Ramesh, we have
rounded out our top management team, and a very strong team it
is. As we welcome Ramesh to the FAA, I want to take this
opportunity to thank John Hennigan, who has been acting CFO for the
past 13 months. He and his team have done an outstanding job
and we all owe him a debt of gratitude."
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