Northwood University Names W. Karl Stephan Vice President of Finance and CFO

MIDLAND, MI- W. Karl Stephan has been named Vice President of Finance and Chief Financial Officer at Northwood University. This announcement was made by President Keith A. Pretty and will be effective on July 1, 2009.

Stephan will be responsible for all financial functions at the multi state university including: accounting, taxation and compliance, information technology, financial aid, budgets, auxiliary services, physical plant and human resources. He earned his undergraduate degree at Yale University and his master’s degree in business administration in finance from the University of Chicago.

President Pretty, said, "Karl brings excellent analytical skills to this position and has done an excellent job in his roles as international controller and assistant vice president of finance for Northwood over the past two years. He has worked closely with retiring CFO, Don Hunkins, so this will be a very smooth transition."

Stephan came to Northwood University after a long career in senior management for the Sears Holding Corporation and Kmart Corporation. He was at Arthur Andersen & Co. and Blue Shield of California prior to Sears.

Stephan, his wife, and two sons recently relocated to Midland from Bloomfield Hills, Michigan.


Northwood University is committed to the most personal attention to prepare students for success in their careers and in their communities; it promotes critical thinking skills and personal effectiveness, and the importance of ethics, individual freedom and responsibility.

Private, nonprofit and accredited, Northwood University specializes in managerial and entrepreneurial education at three full-service, residential campuses located in southern Florida, mid-Michigan and northern Texas. Adult Degree Programs are available in eight states with many course delivery options including online. The DeVos Graduate School offers full-time, evening and industry specific master’s degree programs for entrepreneurs and executives in Michigan, Texas and Switzerland. The Alden B. Dow Creativity Center on the Midland, Michigan, campus specializes in creative thinking and innovation development. International education is offered through terms abroad and in Program Centers in Switzerland, China, Malaysia, Bahrain and Sri Lanka. Northwood University also operates the Margaret Chase Smith Library in Maine.

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