McCarthy Holdings, Inc., one of the nation’s largest 100 percent employee-owned construction companies, recently promoted Kristine Newman to chief financial officer. Prior to assuming this role, Newman served as executive vice president for the company. She replaces retiring CFO Doug Audiffred, and reports directly to McCarthy Holdings, Inc. Chairman and Chief Executive Officer Ray Sedey.
Newman joined McCarthy in 2005 as controller for the builder’s Southwest Region and was promoted to vice president, finance in 2016 and senior vice president, finance in 2018. In 2019 she assumed the executive vice president, finance position and became a member of McCarthy’s enterprise leadership team. Now as chief financial officer, she will be responsible for all accounting, finance and insurance components of McCarthy including cash management, investments, internal audit financial reporting and risk management.
“Kris has been working closely with [outgoing CFO] Doug Audiffred for some time to ensure a thoughtful and smooth transition,” Ray Sedey said. “In addition to her outstanding financial acumen, strong work ethic and exceptional professionalism, Kris brings a deep understanding of McCarthy and our industry. She is an inspirational and trustworthy leader, and I speak for our entire leadership team and all our employee-owners when I express how pleased we are to welcome Kris into this role.”
Newman began her career with Arthur Andersen LLP, working on audit and consulting engagements in the firm’s Chicago and Phoenix offices, prior to joining McCarthy. She is a Certified Public Accountant (CPA). An Indiana native, Newman earned her bachelor’s degree in accounting from Purdue University.
In addition to her responsibilities with McCarthy, Newman was recognized as a “Most Influential Woman in Commercial Real Estate” (AZ Business Magazine, 2019) and serves on the national committee for the McCarthy Partnership for Women, the firm’s employee resource group dedicated to recruiting, developing and retaining women. She currently serves on the Greater Phoenix Chamber of Commerce board of directors, is past president and current member of the Valley of the Sun Chapter of the Construction Financial Management Association and is past chair of the board of directors for UMOM New Day Centers in Phoenix.
“It is an incredible honor to serve in this crucial role for our company,” Newman said. “I am grateful to be able to follow in the footsteps of Doug Audiffred, and his guidance through the transition period was extremely helpful and appreciated. I know without a doubt that this organization will continue to accomplish amazing things.”
McCarthy Holdings, Inc. is the oldest privately held national construction company in the country – with nearly 160 years spent collaborating with partners to solve complex building challenges on behalf of its clients. McCarthy Holdings, Inc. is comprised of McCarthy Building Companies, Inc. and Castle Contracting, Inc. More information about the company is available online at www.mccarthy.com or by following the company on Facebook, Twitter, LinkedIn and Instagram.