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| Paul MacDonald VP of Finance, Detroit Red Wings |
“The AICPA is proud to recognize three exemplary CPAs who represent a variety of businesses that rely on CPAs to propel their organizations forward. The 2008 Hall of Fame inductees demonstrate the ability and desire to give to their communities and share their skills for the greater good,” says Christopher McKittrick, director of members in business industry and government at the AICPA.
The AICPA Business and Industry Hall of Fame honors CPAs who embody the technical attributes and ethical commitments of the CPA profession; creating value by managing technology and resources; demonstrating knowledge of broad business issues and managing shareholder and customer expectations.
Prior to joining the Red Wings, Paul MacDonald began his career working for a local CPA firm. After three years, he moved into the business and industry realm as controller with a steel processing/automotive supply company. Within five years, he advanced into the position of president. When the opportunity arose to work with a major sports franchise, Paul saw the fulfillment of a lifetime dream.
Starting as a controller with the Red Wings, Paul’s job has expanded and become more complex as the NHL has grown. He was promoted to director of finance in 1995 and senior director of finance in 1998. He was promoted to his present position in 2002.
Overseeing an $80-100 million budget for the Detroit Red Wings, Paul manages a wide range of business operations including all daily accounting functions, budgeting, internal and external reporting, audits, insurance and tax matters. Paul’s role with the Red Wings exemplifies the fact that the success of every major sports team relies not just on the skill and abilities of the players, but on the financial knowledge and accounting expertise of the individuals working behind the scenes.
Playing an integral role in the team’s business operations, Paul has laid the groundwork for a successful franchise for years to come. Paul has implemented change to positively impact the bottom line in a number of ways including reducing freight charges on equipment purchases and turning broadcast services into a profit center. He is also integral to contract negotiations and review, and he serves on numerous National Hockey League committees. His name is one of only a handful of NHL Club senior financial executives whose names are inscribed on the Stanley Cup.
“Over the past five years, Paul has given generously of his time, energy and talents as a valued member our Board of Directors,” said MACPA President and CEO Peggy Dzierzawski. “His insight has impacted countless programs, member services and association operations.”
Most notably, Paul was instrumental in the development of our High School Leaders Conferences. Since its premier in 2003, Paul has spoken to nearly 1,400 promising students. His presentation, That’s Entertainment, is central to the program’s message: The CPA profession offers interesting and challenging career opportunities in a variety of industries. Paul captures their interest from the moment he mentions the Stanley Cup.
“When he holds up his championship ring … well, that really gets their attention! Paul’s message is particularly compelling; and he is one of the reasons so many of students attending say they will consider a career in accounting,” explained Dzierzawski.
Over the past few years, Paul has also shared his time and talents with the Naval Reserve. He arranges for servicemen and women to attend Red Wings games and sees to it they are appropriately recognized (always a standing ovation at Red Wings games). He also coordinates player visits and interaction at various naval events.
“Whether he is working with the MACPA, students, our armed forces, Red Wings management, co-workers, or NHL leaders, Paul’s integrity, passion and commitment is inspiring to everyone,” said Dzierzawski.
The AICPA Business and Industry Hall of Fame Award was presented to Paul on Thursday, November 13, 2008 at the AICPA Controller’s Workshop East at the Hilton - Walt Disney World Resort in Lake Buena Vista, Florida.