C
aroline Dorsa, senior vice
president and chief financial of-
ficer of the Public Service Enter-
prise Group, Inc. (PSEG), was
honored by CFO Studio at a reception
held on Dec. 5th at the Westin Gover-
nor Morris hotel in Morristown, NJ.
The event also introduced the Q4 2013
issue of
CFO Studio
magazine, which
featured an article about Dorsa and her
career at PSEG.
Dorsa thanked Andrew Zezas, CEO
of Real Estate Strategies Corporation
and publisher of
CFO Studio
magazine,
for being “a great resource ... The articles
you publish are an opportunity for us
as CFOs and as folks in finance to really
share ideas, thoughts, and perspectives.”
In her remarks, Dorsa spoke frankly
about the monumental task of restoring
power to 90 percent of PSEG’s 2 million
customers after Super Storm Sandy
pounded the state in October 2012.
“While we did a great job restoring
power, our job is not restoring power,”
said Dorsa. “Our job is keeping the
power there reliably.”
She drew a parallel between delivering
reliable service to customers and manag-
ing finances impeccably. She explained
financial strength is a cornerstone to
achieving operational excellence, and
one of the pillars of PSEG’s financial
strength has been disciplined invest-
ment. “The source of PSEG’s success
over the last 100 years is the same reason
that we’re successful today,” said Dorsa.
“We have an aligned
team and we have
alignment around our
investment strategy.
This starts with our
board of directors and
our CEO Ralph Izzo,
and it flows all the way
down through the rest
of the organization.”
Dorsa revealed that
PSEG will be making
a $3.9 billion invest-
ment over the next
10 years to update
and reinforce the power infrastructure,
making it stronger, more resilient, and
better able to withstand events like Su-
per Storm Sandy. “One of the things I’m
happiest about is, given the way we’ve
been managing the company over the
years, we come to [this investment] with
one of the strongest balance sheets in
the industry,” said Dorsa. “We come to it
with the ability to make this investment
in ways that are friendly for our custom-
ers, but without issuing equity, and so,
friendly for our shareholders as well.”
Dorsa also told of her passion for her
volunteer work at Junior Achievement,
an organization dedicated to educating
young people about business, financial
literacy, and economics. She suggested to
the CFOs and finance executives present
to “think about how finance has helped us
in our careers and to think about howwe
can give back.”
C
30
1st QUARTER 2014
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F
G
C
D
E
Delivering
Reliability
The “unshakable” Caroline Dorsa
honored at The CFO Studio Reception
Photography: Jibran Aslam
A
Request an invitation at
FOR THE FULL TEXT OF DORSA’S REMARKS,
GO TO CFOSTUDIO.COM/CAROLINEDORSASPEECH
A
Caroline Dorsa
B
(left to right) Courtney McCormick, Catherine Milone
C
Brian Friedman
D
Steve Mullin
E
(left to right) Lou Monari, Melissa McCartney, Bill Grammaticas, Martin Mussman
F
Brian Huff, Kevin Fitzgibbon
G
Alison Cornell, Maureen Wilner
CFO STUDIO
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