He successfully led a team to enhance internal controls for the world's largest automotive company.
MCKINNEY, TX, July 24, 2024 /24-7PressRelease/ -- Ron Chu, NACD.DC, CPA, has been included in Marquis Who's Who. As in all Marquis Who's Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility and prominence in a field are all taken into account during the selection process.
Mr. Chu, a distinguished professional with over 30 years of experience in financial services, has made significant contributions to the industry through his expertise in banking, finance, leasing, insurance, capital markets and professional services. He currently serves as the audit committee chair to the board at Toyota Motor Credit Corporation, which is SEC registrant for public debt issuance and subsidiary of Toyota Financial Services International Corporation ("TFSIC"). In this role he oversees internal and external audit functions to ensure compliance of the public registrant.
Before his retirement last year, Mr. Chu was the group vice president and head of global internal controls at Toyota Motor Corporation from 2021 to 2023. In this capacity, he successfully led a team to enhance internal controls for the world's largest automotive company. From 2019 until 2021, he served as the group vice president and head of accounting and finance at TFSIC, which is the largest automotive finance company in Americas and Oceanic regions. During this period, he played a pivotal role in achieving record revenue and profit for the business. where he was responsible for managing the company's profit and loss position. This role encompassed revenue management and cost reduction strategies, including operating costs, taxes and borrowing expenses. He contributed significantly to the company's status as the leading automotive finance company in the United States, providing substantial liquidity to enable vehicle ownership of a very diverse automotive customer base.
Between 2017 to 2019, Mr. Chu held the position of group vice president and chief accounting officer at TFSIC. His tenure was marked by significant improvements in accounting principles, leading to 45 consecutive quarters without audit adjustments and significant deficiencies in controls. As vice president and head of accounting and tax from 2010 to 2016, he streamlined SOX controls and resource management while saving substantial amounts of capital for the company. Earlier at TFSIC, he served as the general manager and chief tax officer from 2007 to 2010 and the national manager and tax director from 2002 until 2007.
Mr. Chu's career began at KPMG from 1994 to 2001 where he worked his way up to senior manager ranking before he moved on to become a tax director at Asia Global Crossing Telecommunications Inc. from 2001 to 2002. His extensive experience has earned him memberships in prestigious organizations such as the National Association of Corporate Directors ("NACD"), and he also served on the board of directors for the Asian Pacific American Institute for Congressional Studies from 2018 to 2023. Currently he is a board member of NACD North Texas Chapter and serving on the Program Committee. The Chapter has a significant membership base thanks to a large concentration of corporate headquarters in a US metropolitan area.
Mr. Chu's academic achievements have been instrumental in his professional success. He first earned a Bachelor of Arts from East China Normal University, followed by a Master of Arts from Tongji University. He later completed graduate coursework at the Portland State University School of Business and earned a master's degree in taxation and a post-baccalaureate in accounting from the same institution. He also earned a doctorate from the University of Bonn. Additionally, he is certified by the NACD with their Directorship Certification and is an active certified public accountant accredited by the California Board of Accountancy.
Mr. Chu attributes his success to two key factors: drive and intellectual curiosity. As an immigrant, he emphasizes the importance of ambition combined with a strategic approach to one's career. He also values intellectual curiosity, believing that continuous learning and self-improvement are crucial for personal and professional growth. He is immensely grateful to the country that adopted him, and believes what he was able to accomplish throughout his professional career is only possible in America.
Looking ahead, Mr. Chu aims to secure positions on public company boards and actively engage in serving disadvantaged communities. He also plans to advance his proficiency in the field of corporate governance and risk management. His remarkable career is characterized by his dedication to professional excellence and his commitment to continuous improvement.
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