programme - CFO Insight

P R O G R A M M E
5 th
17 - 1 8 O C T O B E R 2 0 1 2 , V I E N N A
CONGRESS • GRAND EVENING EVENT: CFO INSIGHT AWARD “CFO OF THE YEAR”
5 th CFO Summit Emerging Europe & CIS
Inspiration for Top Financial Executives
www.cfo-insight.com/events
PRESENTED BY

Welcome
Bastian Frien,
Editor-in-Chief,
CFO Insight
Armin Häberle,
Executive Editor,
Dear participants of the
5 th CFO Summit Emerging Europe & CIS,
For CFOs in emerging Europe, last year was once
again quite a roller coaster ride. News both good
and bad continued to bounce around, taking unpredictable
and sometimes erratic twists and turns that
made it hard for anyone to design a coherent corporate
or financial strategy.
Emerging Europe is at times hailed as a role model
for the rest of Europe, given its comparatively low
public debt and the decisiveness with which economic
reforms have been enacted in many countries.
Indeed, many, including the International Monetary
Fund, foresee a return to solid growth in emerging
Europe for the coming years in stark contrast
to the bleak forecast for western Europe and, in particular,
the euro zone. Simultaneously, deep ties
with the economies on the other side of the continent
come back to haunt emerging Europe time
and time again. Poor growth prospects in the west
still have an over-proportional impact on emerging
Europe and the problems in some parts of the euro
zone’s banking system have repercussions for emerging
Europe as well.
CFOs in the region have adapted to these challenges
by retaining earnings, deleveraging balance
sheets, raising capital, shifting funding away from
euro and US dollars towards local currencies when
possible and broadening financing options by
accessing international bond markets.
In addition, streamlining internal processes, optimising
working capital, improving risk management
and hedging or vamping up cash management are
less spectacular but just as important tools for steering
a company through hard times.
The 5 th CFO Summit Emerging Europe & CIS will
once again bring the financial community from
across emerging Europe together with CFOs of west
European companies that have significant activities
in the region to share experiences in dealing with
the economic roller coaster. Renowned speakers
from across the region – from Austria to Russia and
from Turkey to Poland – will present their ideas
about moving forward and discuss their approaches
to steering corporate finance. International panel
discussions will take a close look at the future of
finance in emerging Europe and the changing role
of the CFO in regional companies. In-depth workshops
on topics including debt capital markets,
compliance, cash management and currency hedging
will give you the opportunity to catch up on
the latest trends and tools for your daily work.
Networking breaks and an exclusive gala dinner
will provide ample opportunities for having lively
exchanges with peers from more than 20 different
countries, as well as making new contacts and
sharing opinions and ideas.
Providing some continuity in these turbulent times,
we sincerely look forward to welcoming you for the
fifth time to the productive yet enjoyable atmosphere
of the CFO Summit Emerging Europe & CIS
and to once again having a work-intensive but
memorable time with you in Vienna.
Kind regards,
Bastian Frien Armin Häberle
Editor-in-Chief Executive Editor
CFO Insight CFO Insight
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Programme at a Glance
17 October 2012
Registration and Coffee Reception from 9.30 a.m.
10.15 a.m.-10.30 a.m.
Welcome Address from CFO Insight
Armin Häberle, Executive Editor, CFO Insight
10.30 a.m.-11.15 a.m.
Opening Keynote Speech
Steering Emerging Europe into a Post-Crisis Future
Michael Landesmann, Director of Research,
Vienna Institute for International Economic Studies (wiiw)
11.15 a.m.-12.00 p.m.
Panel Discussion I
The Future of Finance in Emerging Europe:
New Instruments, Old Problems?
• Andre Carls, CEO CEE Holding, Commerzbank AG
• John Little, CFO, AVG Technologies
• Gianni Franco Papa, Head of CEE Division UniCredit and
Deputy Chairman of the Management Board, UniCredit Bank Austria AG
• Reinhard Pinzer, CFO, Siemens Austria AG and Cluster CEE
12.00 p.m.-1.30 p.m.
Lunch Break
1.30 p.m.-2.30 p.m.
Roundtable Session I
• Bonds vs. Loans – Pros and Cons from an Issuer's Perspective
• Creating Value in Stormy Times
• Running Subsidiaries in CEE
• Identify the Potential in Your Financial Supply Chain
2.30 p.m.-3.00 p.m.
On-Stage Interview I
Emerging Confidence in Emerging Markets
Alexey Kornya, CFO, Mobile TeleSystems
3.00 p.m.-3.45 p.m.
Coffee Break
3.45 p.m.-4.45 p.m.
Roundtable Session II
• Compliance Solutions: Confronting Corruption
• Improving Financial Efficiency with Cash Management Solutions
• Innovative Cash Management: Short-Term Liquidity Funds
• Managing Your Financial Risks: A strategic Opportunity?
5.00 p.m.-5.30 p.m.
Concluding Keynote Speech
Modernising Economies in Emerging Europe and Beyond
Conor Lenihan, Vice President for International Partnership Development,
Skolkovo Foundation
From 6.00 p.m.
Grand Evening with Award Ceremony
“CFO of the Year” at Palais Ferstel

Programme at a Glance
18 October 2012
Registration and Coffee Reception from 8.30 a.m.
9.15 a.m.-9.30 a.m.
Welcome Address from CFO Insight
Bastian Frien, Editor-in-Chief, CFO Insight
9.30 a.m.-10.00 a.m.
On-Stage Interview II
Divesting for the Future –
Managing Change in Modern Enterprises
Slawomir Jedrzejczyk, CFO, PKN Orlen
10.00 a.m.-10.30 a.m.
Panel Discussion II
Catalyst for Change or Guardian of Stability?
The Role of CFOs in Emerging Europe
• William Aird, CFO Europe, Kaspersky Lab
• Oya Günay, Executive Coach & Strategic Consultant
• Slawomir Jedrzejczyk, CFO, PKN Orlen
• Gürhan Kartal, CFO, Hattat Group
10.30 a.m.-11.00 a.m.
Coffee Break
11.00 a.m.-12.00 p.m.
Roundtable Session III
• Diversity in Funding Sources: What's Working, What's Not
• Export Financing Within a Challenging Environment
• CFO Career Options in Emerging Europe
12.00 p.m.-12.30 p.m.
Concluding Keynote Speech
Financing and Steering Large-Scale Investment Projects
Alexander Lukin, Deputy General Director for Development
and Finance, Glavstroy
12.30 p.m.-3.00 p.m.
Lunch and Final Get-Together
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6
17 OCTOBER
Welcome Address from CFO Insight
Opening Keynote Speech 10.30 a.m.-11.15 a.m.
Steering Emerging Europe into a Post-Crisis Future
10.15 a.m.-10.30 a.m.
by Armin Häberle, Executive Editor, CFO Insight
The present situation in Europe bears all the hallmarks of the financial, debt-related and structural aspects of current account crises. In emerging
Europe in particular, there is a need to correct imbalances and excessive private sector debt. For a long time to come, private consumption
and investment will be low, given high levels of corporate debt, weak banks and low credit growth. What will this mean for growth, labour
and export markets and the banking sector in emerging Europe? What macroeconomic environment do CFOs need to prepare for in 2013? Is
this the end of convergence, or could it be the beginning of a new dynamism that frees the region from its dependence on western Europe?
SPEAKER
Michael Landesmann,
Director of Research,
Vienna Institute for International
Economic Studies (wiiw),
Austria
Michael A. Landesmann is Research Director
of the Vienna Institute for International
Economic Studies (wiiw) and Professor of
Economics at the Johannes Kepler University Linz,
Austria, where he is also the head of the department
of economic theory and quantitative economics.
His research focus is, inter alia, on East-West
economic integration, structural change and economic
growth. Michael Landesmann is a member of
various international study groups and committees.
He holds a Master's degree from the University of
Vienna and a PhD from Oxford University. The
wiiw is one of the leading centres for research on
Central, Eastern and Southeast Europe with more
than 35 years of experience and a team of more
than 40 professionals.

17 OCTOBER
Panel Discussion I 11.15 a.m.-12.00 p.m.
The Future of Finance in Emerging Europe: New Instruments,
Old Problems?
Corporate finance in emerging Europe is in turmoil. Many western banks are reconsidering their approach to the region while new players
enter the scene. Local funding is becoming ever more important, but saving rates are not enough to provide a reliable base for this. For CFOs,
diversifying their sources of funding has become paramount. What will be the most successful funding strategies given the new macroeconomic
realities? What do CFOs need to do to lead their companies into a financially sound future?
PANELISTS
Dr. Andre Carls, CEO Central & Eastern Europe Holding,
Commerzbank AG, Germany
Dr. Andre Carls is responsible for the CEE activities of
Commerzbank. Having studied business economics and
completed a doctorate, he joined Commerzbank in 1990,
with various positions in corporate finance and capital markets.
Until 2008 he was member of the board of managing
directors of comdirect bank and CEO of comdirect group
since 2004.
Gianni Franco Papa, Head of CEE Division UniCredit and
Deputy Chairman of the Management Board, UniCredit Bank
Austria AG, Austria
Gianni Franco Papa started his career at Credito Italiano in 1979.
Since then he has held various senior positions at UniCredit in
the US, Asia as well as Central and Eastern Europe. Since December
2010, Mr Papa is Senior Executive Vice President, Head of
CEE Division of UniCredit and since January 2011 Deputy Chairman
of the Management Board of UniCredit Bank Austria AG.
John Little, CFO, AVG Technologies, The Netherlands
John Little joined AVG as CFO in January 2008 and since then
has steered the company to its successful IPO. He trained as
a chartered accountant with Deloitte & Touche and has had
subsequent roles with Cazenove & Co, RBS and Wood &
Company. John has 22 years of financial experience based in
London, the US, Central Europe and the Middle East. AVG is
a major vendor of anti-virus software around the world. It
went public on the New York Stock Exchange in 2012.
Reinhard Pinzer, CFO, Siemens Austria AG and Cluster CEE,
Austria
Since 2008 Reinhard Pinzer has been a member of the board
of directors and CFO of Siemens Austria AG as well as CFO
Cluster Central Eastern Europe. Prior to this, Mr Pinzer was
CFO and a member of the board of directors of Siemens VDO
Automotive AG.
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17 OCTOBER
Roundtable Session I 1.30 p.m.-2.30 p.m.
Bonds vs. Loans – Pros and Cons
from an Issuer's Perspective
Deciding whether to raise large amounts of debt via loans or bonds
may be one of the most crucial decisions for a CFO in terms of structuring
a company’s funding. Hearing an experienced issuer’s opinion
is of essential importance to making the right decision.
PARTICIPANTS
Mojca Klopčič, Director of Finance, Telekom Slovenije,
Slovenia
Mojca Klopčič has been Director of Finance at Telekom Slo-venije
since 2011. She is responsible for any financial aspects
within the company. She has also been involved in the renewing
processes of Telekom Slovenije’s financial department
after its merger with Mobitel. Telekom Slovenije is the leading
Slovenian provider of electronic communications with operating
revenues of EUR 824 million in 2011.
The second external speaker has not yet been confirmed.
Jana Petkova, Managing Director, UniCredit, U.K.
Jana Petkova joined UniCredit in May 2008 as Managing
Director, Head of Corporate Loan Syndication covering CEE,
Russia and CIS. Jana has 15 years of experienece in the banking
industry in various positions in London and Bratislava
and previously worked as Director in Loan Syndication at
ING Bank in London where she played a key role in originating,
structuring and arranging syndicated loans for corporates
and financial institutions in the CEE/MEA region.
Dr. Olaf Sarges, Managing Director and Global Head of DCM
Investment Grade Corporate Origination, UniCredit, Germany
Dr. Olaf Sarges is Managing Director and Global Head of
DCM Investment Grade Corporate Origination. He joined
UniCredit in November 2002 from WestLB where he worked
on the corporate bond syndicate in Düsseldorf and London
for four years. Olaf holds a PhD in mathematics from the
Otto-von-Guericke University of Magdeburg.
17 OCTOBER
Roundtable Session I 1.30 p.m.-2.30 p.m.
Creating Value in Stormy Times
Netia is a large Polish internet and telecoms provider. Through a
combination of investments, cost reductions and acquisitions, it has
managed to increase its value by 145 percent since 2008. Can others
pull off a similar trick?
PARTICIPANTS
Piotr Nowak, Finance Director, Deputy CFO, Netia S.A.,
Poland
Piotr Nowak has been Finance Director and Deputy CFO at
Netia S.A. since February 2006. He also serves as a member
of the management board of Dialog Sp.z o.o., a subsidiary of
Netia. Prior to that he held several leading positions in financial
departments of technology and telecommunication companies
and also provided assurance services while working for
Ernst & Young Poland.
Izabela Kieczeń, Deputy Head of International Corporates
Center, BRE Bank SA, Poland
Izabela Kieczeń joined BRE Bank SA in 2010 as Deputy Head of
International Corporates after it merged with the Dresdner Bank
AG branch in Poland, where she worked as Senior Relationship
Manager. Within the bank she is responsible for further business
development with international clients. She has over ten years
of experience in international relationship management in the
banking industry in several European countries.

17 OCTOBER
Roundtable Session I 1.30 p.m.-2.30 p.m.
Running Subsidiaries in CEE
Subsidiaries of international companies are an important feature of
any open economy. In emerging Europe, they feature particularly prominently
and often comprise important production sites, R&D centres
and administrative hubs with significant finance departments.
PARTICIPANTS
Michael Offermanns, CFO, Lanxess Central and Eastern
Europe, Slovakia
Michael Offermanns has been CFO at Lanxess Central and
Eastern Europe in Bratislava since 2007. In addition to Slovakia,
the regional headquarters steers subsidiaries in Poland,
Austria, Hungary and the Czech Republic. Since 2011, Mr
Offermanns has also been CFO of Lanxess Kimya Ticaret in
Istanbul. Before moving to Bratislava, he was deputy head of
internal audit at Lanxess group headquarters in Germany.
Armin Häberle, Executive Editor, CFO Insight, Germany
Armin Häberle has been working for the F.A.Z.-Institute and
FINANCIAL GATES since 2008. In 2012, he became Executive
Editor of CFO Insight. Previously, he worked for the British
Consulate-General in Düsseldorf, supporting German companies
investing in the United Kingdom. He is also a lecturer for
political economy at Heinrich Heine University, Düsseldorf.
17 OCTOBER
Roundtable Session I 1.30 p.m.-2.30 p.m.
Identify the Potential in Your
Financial Supply Chain
Optimising liquidity is a key strategic item for CFOs. This requires
in-depth knowledge of your operations and the physical and financial
supply chain. Being able to leverage the potential in the financial
supply chain significantly facilitates future growth.
PARTICIPANTS
The external speaker has not yet been confirmed.
Mark Milders, Head of Corporate Clients, Central & Eastern
Europe, ING Commercial Banking, Netherlands
Mark Milders has been Head of Corporate Clients Central &
Eastern Europe at ING Commercial Banking since 2010,
where he supports clients in Austria, Bulgaria, the Czech Republic,
Hungary, Kazakhstan, Romania, Poland, Russia, Slovakia,
Turkey and Ukraine. Previously, he worked at Fortis Bank
Netherland in corporate finance and, before moving into his
current role, led ING’s leveraged finance team.
9

17 OCTOBER
On-Stage Interview I 2.30 p.m.-3.00 p.m.
Emerging Confidence in Emerging Markets
Alexey Kornya, CFO of Russian telecommunications provider MTS, is convinced that the financial turmoil of recent years, triggered in the United
States and prolonged by the euro zone crisis, has revealed a twisted perception of political and economic risk. Sound companies in emerging
markets with strong cash flows and balance sheets, low debt and good growth rates receive lower ratings, for example, than overleveraged and
ailing companies in developed markets. How does this affect funding opportunities and costs for companies in emerging markets? Does it undermine
the growth potentials of both countries and enterprises? Or are perceptions already rebalancing in a more appropriate direction?
SPEAKER
Alexey Kornya,
CFO,
Mobile TeleSystems,
Russia
Alexey Kornya has worked at Mobile TeleSystems
(MTS) since 2004. He was promoted to
Vice President for Finance and Investments
and CFO in 2008 and having served as chief financial
controller from 2006 until 2008. He graduated in
1998 from St. Petersburg University of Economics
and Finance.
MTS is the leading telecommunications group in
Russia, Eastern Europe and Central Asia, offering
mobile and fixed voice, broadband, pay TV as well
as content and entertainment services. The group
has over 100 million mobile subscribers, over 2 million
broadband Internet subscribers and about 3
million pay TV subscribers. Its revenues for the FY
2011 equalled for USD 12.3 billion. MTS is
listed at the New York Stock Exchange (NYSE) via
Level-3-ADRs.
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17 OCTOBER
Roundtable Session II 3.45 p.m.-4.45 p.m.
Compliance Solutions:
Confronting Corruption
Many countries in emerging Europe still receive low marks in Transparency
International’s Corruption Perception Index (CPI). Learn how
the CPI is determined and discuss how to avoid corrupt schemes, deal
with bureaucracy and implement a viable compliance system.
PARTICIPANTS
Dr. Christoph Dengler, Director Legal Pharma Business,
STADA Arzneimittel AG, Germany
Dr. Christoph Dengler is Director Legal Pharma Business of
STADA Arzneimittel AG. He is responsible for legal affairs of
the pharmaceutical business of the STADA group of companies,
including co-operation with affiliates in the CIS. Prior to
this he was Head of the German Desk of the international
law firm Mannheimer Swartling in Russia.
Elena Panfilova, Director, Center Transparency International,
Russia
Elena Panfilova has been the director of the Center Transparency
International - Russia since 1999. The main focus of the
latest work of Mrs. Panfilova is on the development of anticorruption
strategies for transition democracies, corruption
research, anti-corruption and freedom of information legislation
drafting, monitoring of the legislation implementation,
monitoring and research of political corruption.
Jörg Bielefeld, Partner, BEITEN BURKHARDT, Germany
Jörg Bielefeld is Partner at BEITEN BURKHARDT's Munich office.
As the Head of the the firm's white collar team, he advises and
defends companies and individuals in the whole field of business
crime, tax crime and administrative offences, criminal
compliance and individual criminal defence with a focus on
complex compliance matters.
Falk Tischendorf, Partner, Head of the Moscow Office,
BEITEN BURKHARDT, Russia
Falk Tischendorf is an Equity Partner and head of BEITEN
BURKHARDT’s Moscow office. Since 2002, he has been practicing
inter alia in commercial and contract, real estate and
public procurement law. Falk Tischendorf is registered with
the Ministry of Justice of the Russian Federation in the register
of lawyers of foreign states carrying out attorney activities in
the Russian Federation.
17 OCTOBER
Roundtable Session II 3.45 p.m.-4.45 p.m.
Improving Financial Efficiency
with Cash Management Solutions
Managing cash efficiently and reliably in emerging Europe is not always
an easy task. Legal issues, technical limitations, liquidity concerns
and many other considerations need to be taken into account.
This case study will give you important clues for your own work.
PARTICIPANTS
Anton Trushin, Head of Treasury,
ProfMedia, Russia
Anton Trushin is Head of Treasury at ProfMedia. He is responsible
for debt financing and generic treasury activities. Before
joining ProfMedia, Mr. Trushin worked for BNP Paribas, Russian
Metals&Mining companies SUAL and Norilsk Nickel, and
WestLB. Anton Trushin got his degree in International Economic
Relations from the Finance Academy in Moscow.
Julia Petrova, Head of Global Transaction Banking,
UniCredit Bank, Russia
Julia Petrova joined UniCredit Bank Russia as Head of Global
Transaction Banking (GTB) in March 2011 and is responsible
for the further development and strengthening of GTB services
including Trade Finance, Cash Management, Correspondent
Banking and Structured Trade & Export Finance. Prior to
that Julia held various positions in Citibank Russia for 15 years.

17 OCTOBER
Roundtable Session II 3.45 p.m.-4.45 p.m.
Innovative Cash Management:
Short-Term Liquidity Funds
Liquidity funds offer an increasingly attractive alternative to deposits
for working capital and investment reserves. Chief benefits include
low risk, diversification, competitive yields, unconstrained and global
accessibility. Find out more and discuss the potential benefits.
PARTICIPANTS
Thomas A. Woelk, Head of Group Treasury,
WackerNeuson SE, Germany
Thomas A. Woelk is responsible for all banking relationships
at WackerNeuson SE. His job includes the world wide coordination
of WackerNeuson's strategic decisions regarding asset,
financing, cash and liquidity management, including risk management
strategies. Prior to this, Mr Woelk had worked for
BlackRock institutional sales for four years and established
BlackRock's first branch office in continental Europe.
George Juscsak, Vice President, Senior Sales Executive,
J.P. Morgan Asset Management, Austria
George Juscsak is Vice President, Senior Sales Executive for the
Central and Eastern European markets for J.P. Morgan Asset
Management. He has over ten years of experience working in
the financial industry in the United States and worldwide. He
recently relocated to the J.P. Morgan Asset Management
Vienna office from New York where he worked in the investment
bank for the Institutional Sales/Portfolio Strategies group.
17 OCTOBER
Roundtable Session II 3.45 p.m.-4.45 p.m.
Managing Your Financial Risks:
A Strategic Opportunity?
Operating in volatile markets, CFOs want to be able to meet short
term needs while building a financial profile to facilitate long term
plans. Identifying funding opportunities and limiting risk while
maintaining financial flexibility is essential for them to succeed.
PARTICIPANTS
The external speaker has not yet been confirmed.
Alexander Schreuder Goedheijt, Head FX Solutions,
ING Commercial Banking, The Netherlands
Alexander Schreuder Goedheijt has been head of the FX
Solutions team, which mainly focuses on more complicated
foreign exchange transactions, at ING Bank since 2010. He
started his career as FX structurer at ABN Amro Bank in 1998,
where he also became a trader in Exotic FX Options in Amsterdam
and Chicago.
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17 OCTOBER
Concluding Keynote Speech 5.00 p.m.-5.30 p.m.
Modernising Economies in Emerging Europe and Beyond
What is the best way to modernise an economy? Can governments support private enterprise in their efforts to leap ahead, or are they just
messing with the creative forces of free markets? Is there a danger of monocultural modernisation in which most countries follow the same old
recipes? And what constitutes a modern economy in the first place, given the renaissance of manufacturing and the disgrace that the tertiary
sector has fallen into lately? Conor Lenihan has been striving to foster the modernisation of countries for many years. His experience and insight
into the workings of different European economies will enrich any CFO’s understanding of their own corporate challenges and strategies.
SPEAKER
Conor Lenihan,
Vice President for International
Partnership Development,
Skolkovo Foundation,
Russia
Before joining the Skolkovo Foundation, Conor
Lenihan has served in several ministries of the
Irish government.
In 2007 he became Ireland’s first Minister for Integration
and led a government initiative to deal with
the large volume of immigration into Ireland. Up
until March of 2011 he was Ireland’s Minister for
Science, Technology & Innovation where he created
a single budget line for science and technology funding
as well as participating in the country’s Innovation
Task Force. He participated in trade and investment
missions and was a member of the Cabinet
Sub-Committee on Economic Recovery.
Prior to his election to parliament in 1997, he was a
senior executive with an Irish-owned mobile operator
and subsequently worked as an advisor to O2.
In the 1990s he launched two FM radio stations,
one in Dublin and the other in Prague.

Grand
Evening
17 October, 6.00 p.m.
at Palais Ferstel
Photo: © Palais Ferstel
Gala Dinner with Award Ceremony
“CFO of the Year”
15

16
18 OCTOBER
Welcome Address from CFO Insight
9.15 a.m.-9.30 a.m.
by Bastian Frien, Editor-in-Chief, CFO Insight
On-Stage Interview II 9.30 a.m.-10.00 a.m.
Divesting for the Future – Managing Change in Modern Enterprises
For Polish energy company PKN Orlen, 2011 was a year of superlatives. One of the strategic priorities was to divest non-core assets, including
Poland’s leading mobile operator Polkomtel and a large chemical company, Anwil. Concluded in November 2011, the EUR 4 billion
divestment of Polkomtel gave PKN Orlen the financial stability that allowed Slawomir Jedrzejczyk to pursue a new growth strategy, focused
on efficiency and the development of core businesses. Reflecting on his experiences and his plans for the future, Mr Jedrzejczyk will give an
insight into how to manage change and implement strategic overhauls in modern enterprises.
SPEAKER
Slawomir Jedrzejczyk,
CFO,
PKN Orlen,
Poland
Slawomir Jedrzejczyk joined PKN Orlen as CFO
and member of the management board in June
2008. He also serves as deputy chairman of the
supervisory board of Unipetrol as well as member of
the board of Orlen Lietuva. Before joining PKN
Orlen, the British certified auditor and graduate of
Lodz University of Technology, worked for PwC,
Impexmetal and Polish Telecom Group. PKN Orlen
is one of the largest oil and gas companies in central
and eastern Europe. It operates seven refineries
and the largest retail network in central Europe. In
2010, the group generated revenues of about PLN
84 billion (EUR 20bn).

18 OCTOBER
Panel Discussion II 10.00 a.m.-10.30 a.m.
Catalyst for Change or Guardian of Stability? The Role of CFOs in
Emerging Europe
The role of the CFO is constantly changing, especially in emerging Europe where the function is still relatively new. In some cases, CFOs need to be
the active drivers of change, for example when they try to professionalise a finance department. In other cases, they might think of themselves rather
as guardians of stability, for example by reminding other executives about funding realities when chalking up expansion plans. How does the role of
the CFO in emerging Europe change along with a company’s lifecycle and funding, with its ownership structure and the market environment?
PANELISTS
William Aird, CFO Europe, Kaspersky Lab, Russia/U.K.
William joined Kaspersky Lab as Deputy CFO in 2010. His responsibilities
primarily included coordinating the company's
financial planning and budgeting and putting improved systems
and processes into the rapidly growing company. He
has recently moved back to Europe to take on the role of
CFO Europe. Kaspersky Lab is the largest antivirus company
in Europe with reported revenues for 2011 of more than USD
600 million.
Slawomir Jedrzejczyk, CFO, PKN Orlen, Poland
Slawomir Jedrzejczyk joined PKN Orlen as CFO and member
of the management board in June 2008. He also serves as
deputy chairman of the supervisory board of Unipetrol as
well as member of the board of Orlen Lietuva. Before joining
PKN Orlen, the British certified auditor and graduate of Lodz
University of Technology, worked for PwC, Impexmetal and
Polish Telecom Group. PKN Orlen is one of the largest oil and
gas companies in central and eastern Europe
Oya Günay, Executive Coach & Strategic Consultant, Austria
Oya Günay has 20 years of professional experience on the
international platform. She started her career at Deloitte Turkey
and later worked as CFO at ABN AMRO Capital Markets
Turkey and Regional Project Coordinator at ABN AMRO Bank
London. This background gave her great insights into the
challenges and opportunities of global executives and let her
move into Executive Coaching and Strategic Consultancy in
working across cultures.
Gürhan Kartal, CFO, Hattat Group, Turkey
Gürhan Kartal started his career as a Treasury FX Dealer in
Disbank (then acquired by Fortis, then acquired by BNP). He
later worked as the treasurer in Yapi Kredi Leasing and was
appointed as Head of Project Finance in Yapi Kredi Bank. He
later joined Akbank as the Senior Vice President of Corporate
Banking. He now works as the Group CFO of the Hattat
Group.
17

18
18 OCTOBER 18 OCTOBER
Roundtable Session III 11.00 a.m.-12.00 p.m. Roundtable Session III 11.00 a.m.-12.00 p.m.
Diversity in Funding Sources:
What's Working, What's Not
Chief financial officers in emerging Europe have an increasing need
to diversify their funding as established sources have come under
strain in the financial crisis. But which sources are reasonably worth
pursuing and which might only be a waste of time and energy?
PARTICIPANTS PARTICIPANTS
Laszlo Szabo, Group Treasurer, MOL Group, Hungary
Mr Szabo has been the MOL Group Treasurer since January
2010. He joined MOL Group as Head of Capital Markets in
2003. At MOL he lead several syndicated loan, debt capital
markets transactions with a combined value of near EUR 10
billion. Prior to joining MOL he worked at Citibank/Citigroup
as the Deputy Head of Structured Funding and Senior Relation-ship
Manager for eleven years. Previously he held consultant
and analyst positions in the banking and telecom sectors.
Dominique LeMaire, Managing Director, Global Head of
Non-Investment Grade Capital Markets, UniCredit Corporate
& Investment Banking, United Kingdom
Dominique LeMaire joined UniCredit in 2010 and was previously
at J.P. Morgan and at Merrill Lynch in a number of positions
in both investment banking and capital markets. During
the last 20 years Mr LeMaire arranged a number of landmark
debt capital markets and M&A transactions for clients
across Europe, CEEMEA and Latin America.
Richard J. Hunter, Managing Director, Fitch Ratings,
United Kingdom
Richard Hunter is the managing director responsible for Fitch’s
corporate rating practice in Europe, the Middle East, Africa
and Asia-Pacific. The international corporate rating group provides
rating and research coverage from 27 offices on over
1,000 industrial, commercial, utility and other corporate entities
in more than 40 countries. Fitch Ratings is an international,
full service rating agency with 50 offices worldwide.
Export Financing Within a
Challenging Environment
Many say that export finance is amongst the major victims of the
financial crisis, as many banks can no longer support it. What experience
has Skoda, one of the largest exporters in emerging Europe,
had? What are the current trends and potential alternatives?
Stefan Rasche, Head of Treasury, Skoda Auto a.s.,
Czech Republic
Stefan Rasche has been the treasurer of Skoda Auto since
2011. Before that he joined the Volkswagen Group in 1991
where he worked in Volkswagen Financial Services in the
Czech Republic and Poland. Since then he has held various
positions in treasury and financial services, both at headquarters
and abroad.
Jiři Valeš, Team Head Corporate Banking,
Commerzbank AG, Czech Republic
Jiři Valeš joined Commerzbank’s branch in Prague in October
2010 as Team Head in Corporate Banking responsible for the
further development of business activities. Mr Vales has 16
years experience in the banking sector in various positions in
corporate banking and risk management. He previously worked
for UniCredit and Erste Group, focusing on managing
and structuring deals for large corporate customers.

18 OCTOBER
Roundtable Session III 11.00 a.m.-12.00 p.m.
CFO Career Options in Emerging
Europe
Being a CFO involves a lot of duties and tasks, and in emerging Europe
in particular, the role is still very much evolving. Discuss your professional
responsibilities, qualifications, remuneration expectations
and career opportunities compared to other countries and sectors.
PARTICIPANTS
Magdalena Hernandez, Head of ACCA Poland
Magdalena Hernandez manages The Association of Chartered
Certified Accountants in Poland. In 2012 she also chaired
the judging panel of the “Financial Director of the Year”
competition. Prior to this she worked at The United Nations
Children’s Fund as a UNICEF Poland Executive Director and
Board Member as well as an advisor for UNICEF headquarters
in Geneva.
Yannick Coulange, Executive Director,
Michael Page International, Poland
Yannick Coulange is responsible for the Polish BU. Michael
Page International has more than three decades of experience
in recruitment. Finance and accounting remains the
largest discipline of Michael Page International. The company
is one of the world's largest and most renowned recruitment
consultancies, employing more than 5,300 people in
164 offices and 34 countries worldwide.
19

20
18 OCTOBER
Concluding Keynote Speech 12.00 p.m.-12.30 p.m.
Financing and Steering Large-Scale Investment Projects
When it comes to size and complexity, few investments beat major construction projects. Alexander Lukin oversees the largest of them.
Glavstroy is involved in all of Russia’s landmark developments from the Sochi 2014 Olympic Winter Games to building new bridges, tunnels
and airfields, as well as residential and industrial zones around Moscow. Mr Lukin steers the financials of a company that is certainly not
short of challenging investment projects. How does he keep these under control in a volatile environment? How can he secure cheap yet reliable
funding given global market tremors? And what is the key difference between this role and his former one as CFO of the Basic Element Group?
SPEAKER
Alexander Lukin,
Deputy General Director
for Development and
Finance,
Glavstroy,
Russia
Alexander Lukin is Deputy General Director
for Development and Finance of Glavstroy,
which comprises all the construction businesses
of Russia’s major holding company Basic
Element. From 2006 to 2011, he was CFO of Basic
Element Group.
Prior to joining Basic Element, Mr Lukin was CFO
at Deutsche UFG. Before that he held a number of
senior management positions in The Sputnik Group
investment company and was a member of the Executive
Committee of Gazprom Media.
Mr Lukin graduated from the Mechanics and Mathematics
Department of Moscow State University.
He is a Chartered Accountant and a Chartered Director.
Basic Element is Russia's leading diversified
investment company with major assets in energy,
manufacturing, financial services, construction
and aviation.

Online Print White Papers and Research Events
CFO Insight –
All you need to know.
The brand new CFO platform
www.cfo-insight.com

22
Participating Companies
HOST
LEAD SPONSORS
SPONSORS
CFO Insight
Franziska Brydda, Project Manager Events
Bismarckstr. 24, 61169 Friedberg, Germany
Tel.: +49 6031 7386-22 • Fax: +49 6031 7386-29
E-mail: franziska.brydda@cfo-insight.com
Commerzbank AG
Matthias Langer, Vice President, Central & Eastern Europe
Holding, Business Development
Kaiserplatz, 60311 Frankfurt/Main, Germany
Tel.: +49 69 136-28445 • Fax: +49 69 136-41208
E-mail: matthias.langer@commerzbank.com
Corporate & Investment Banking
UniCredit
Maik Dornheim, Director Marketing Communications
Arabellastr. 14, 81925 Munich, Germany
Tel.:+49 89 378-17773 • Fax: +49 89 378-3317773
E-mail: maik.dornheim@unicreditgroup.de
BEITEN BURKHARDT
Felix Rackwitz, Head of Business Development
Westhafenplatz 1, Westhafen Tower,
60327 Frankfurt/Main, Germany
Tel.: +49 69 756095-425 • Fax: +49 69 756095-512
E-mail: Felix.Rackwitz@bblaw.com
J.P. Morgan Asset Management
Sven Lorenz, Head of Continental Europe
Junghofstr. 14, 60311 Frankfurt/Main, Germany
Tel.: +49 69 7124-2392 • Fax: +49 69 7124-2109
E-mail: sven.x.lorenz@jpmorgan.com
ING Commercial Banking
Vincent Verhoeff, Manager Marketing Communications C&EE
Bijlmerplein 888, 1000 BV, Amsterdam, The Netherlands
Tel.: +31 20 56-66321• Fax: +31 20 57-68
E-mail: vincent.verhoeff@mail.ing.nl
Fitch Polska S.A.
Miroslaw Dudzinski, Director, CEE Region
Krolewska 16, 00-103 Warsaw, Poland
Tel.: +48 22 338-6283 • Fax: +48 22 338-6290
E-mail: miroslaw.dudzinski@fitchratings.com
Michael Page International
Olivier Reynaud, Executive Director
Mariahilfer Str. 17, 1060 Vienna, Austria
Tel.: +43 1 205205-41 • Fax: +43 1 205205-1
E-mail: olivierreynaud@michaelpage.com

Participating Companies
EXHIBITORS
COOPERATIVE PARTNERS
MEDIA PARTNERS
Atradius Credit Insurance
Marta Hierro Seco,
Regional Director Global Central & Eastern Europe
Opladener Str. 14, 50679 Cologne, Germany
Tel.: +49 221 2044-6108 • Fax: +49 221 2044 606108
E-mail: marta.hierroseco@atradius.com
Rödl & Partner
Prof. Jens Jungmann, Managing Partner
Zaunergasse 4-6, 1030 Vienna, Austria
Tel.: +43 1 7124114-60 • Fax: +43 1 7124114-20
E-mail: jens.jungmann@roedl.pro
CFO Club Czech Republic
Karlínské nám. 6, 186 00 Praha 8, Czech Republic
Tel.: +420 224 815817• Fax: +420 222 311676
E-mail: cfoclub@cfoclub.cz
IAFEI
c/o DFCG
Armand Angeli
14 Rue Pergolèse - CS 11655, 75773 Paris Cedex 16, France
Tel.: +33 6 7081-8762
E-mail: armand.angeli@orange.fr
businessneweurope
www.bne.eu
Dünya Gazetesi
www.dunya.com
Prime Communication PR Consulting KG
Mag. Albert Haschke, Managing Director
Währinger Str. 2-4, 1090 Vienna, Austria
Tel.: +43 1 3172582-13 • Fax: +43 1 3172582-20
E-mail: haschke@prime.co.at
FINEXA
Nikolaus von Nathusius
ul. Powsińska 23/6, 02-920 Warsaw, Poland
Tel.: +48 509 484-453
E-mail: sekretariat@finexa.org
imoe> - Informationsagentur Mittel- und Osteuropa GmbH
Nicola Stobbe, Managing Director
Gustav-Pries-Str. 36, 30966 Hemmingen, Germany
Tel.: +49 511 4157-96 • Fax: +49 511 4157-74
E-mail: stobbe@imoe.de
CFO Russia
www.cfo-russia.ru
International Herald Tribune
www.gobal.nytimes.com
23

24
“CFO of the Year” Award Jury
Nothing beats personal experience, local networks and recognition from your peers. Therefore, CFO Insight is proud
to present its “CFO of the Year” Award Jury. Once a year, the jury, consisting of the CFO Insight Advisory Board and
executive representatives of the lead sponsors of the CFO Summit Emerging Europe & CIS, votes on the
“CFO of the Year” to recognise outstanding work by a CFO from emerging Europe.
Steven Arons,
Executive Editor,
CFO Insight,
U.K.
Luigi Ferraris,
CFO,
Enel SpA,
Italy
Alexander Lukin,
Deputy General Director for
Development and Finance,
Glavstroy, Russia
Dr. Andre Carls,
CEO Central & Eastern
Europe, Commerzbank AG,
Germany
Bastian Frien,
Editor-in-Chief,
CFO Insight,
Germany
Anne-Kathrin Meves,
Editor,
CFO Insight,
Germany
William C. Collins,
Vice President Finance,
EMEA, Eaton,
Switzerland
Armin Häberle,
Executive Editor,
CFO Insight,
Germany
Enrico Minniti
Head of Financing CEE
Financing & Advisory
Corporate and Investment
Banking, UniCredit Bank
Austria AG, Austria
Haluk Dortluog^ lu,
Operations Committee
Member and CFO, BI .
M A.S ., ²
Turkey
Marek Jelinek,
CFO,
New World Resources,
Czech Republic
Martin Novak,
CFO,
C ^ EZ, a.s.,
Czech Republic

Massimo delli Paoli,
Partner Advisory Services,
Reconta Ernst & Young
S.p.A, Italy
Marcel van Loo,
Banking and Capital Markets
Leader, Europe, Middle East,
India and Africa (EMEIA),
Ernst & Young
Alexander Pisaruk,
CEO for Central and Eastern
Europe, ING Commercial
Banking, Russia
Lauri Veijalainen,
Development Director for
International Operations,
Member of the Group
Management Committee,
Stockmann, Russia/Finland
Dr. Eva Porras,
Academic Author, former
Academic Dean, CEU Business
School, Hungary
Tomasz Szelag,
CFO,
Cyfrowy Polsat,
Poland
25

Registration and Travel
How to register for the
5 th CFO Summit Emerging Europe & CIS
Limited access
The event is designed exclusively for executive financial
decision makers. Representatives from consulting firms,
auditors, law firms or sales representatives of financial
institutions will not be granted access to the conference.
Participation fee: EUR 2,100 excluding VAT
Guests of honour
Use your personal registration code provided by your host to
fill in the online form on our website and to attend the event
free of charge.
To register, please visit
www.cfo-insight.com/events
You will receive a confirmation e-mail after registration that
includes all relevant organisational information.
Venues
Congress Venue Grand Evening Event Venue
Hofburg Vienna Palais Ferstel
Entrance: Josefsplatz Entrance: Freyung 2
Heldenplatz Strauchgasse 4
1014 Vienna, Austria 1010 Vienna, Austria
www.hofburg.com www.palaisevents.at
Hotels
We have reserved a block of rooms under the keyword
“CFO-Summit-Vienna” for participants of our conference. For
more information please visit www.cfo-insight.com/events
How to get there
Public transportation
The Hofburg is located in the centre of the Old Town and can
be easily reached by public transportation. Two underground
stations as well as bus and tram stops are within walking distance.
Vienna Airport lines (Postbus) will bring you from the
airport to Morzinplatz in Vienna every 30 minutes. The ride
takes about 30 minutes, depending on traffic. Please use the
entrance “Josefsplatz”. Further information can be found at
www.viennaairport.com
Taxi
Official taxi providers are located at the airport. The ride takes
about 20 minutes and costs about EUR 30.
Contact
If you have any questions concerning your registration or your
travel arrangements, please do not hesitate to contact:
Franziska Brydda, Project Manager Events
Tel.: +49 6031 7386-22
Fax: +49 6031 7386-29
E-mail: franziska.brydda@cfo-insight.com
27

LEAD SPONSORS
SPONSORS
COFFEE BAR
HOSTED BY
EXHIBITORS
COOPERATIVE PARTNERS
www.cfo-insight.com/events