AWF Magazine - December 2023.pdf

Hello REFLECT ON THE PAST, APPRECIATE THE PRESENT, EXPLORE THE OPPORTUNITIES AT&T WOMEN OF FINANCE DECEMBER 2023

GOOD-BYE 2023

2024

CELEBRATING: BREAST CANCER AWARENESS MONTH DAY OF THE DEAD IN MEXICO MOVEMBER

VOLUNTEER/GIVE BACK 2024 BOARD MEMBERS

MENTORING

NETWORKING

EDUCATION

CONTENT

LATAM - MEXICO CITY

PRESIDENT'S MESSAGE

03

29

LATAM - LIDERES DE LATINOAMERICA

30

BREAST CANCER AWARENESS

04

MANAGING THE BALANCE SHEET- GEORGE GOEKE

VOLUNTEER & GIVEBACK

32

07

EXPLORING MEXICO

09

RACHEL SIMON: NETWORKING & EOY MENTORING EVENT

34

DIA DE LOS MUERTOS

17

MENTORING

22

1X1 MENTORING SESSION WITH PASCAL DESROCHES

38

MOVEMBER

23

AWF 2023 EOY RE-CAP

39

INVESTOR CLUB

24

2024 AWF BOARD

43

EDITOR'S NOTE

Hello Members! As 2023 comes to a close, I would like to express my gratitude for the opportunity to design and publish this year’s magazine and also thank the AWF board members and committee members for their support throughout the year. To all the AWF members, thank you for reading the magazine and supporting AWF events. We would not be here if it wasn’t for each and every one of you. I sincerely wish everyone a wonder and holiday season!

Melissa Garcia-Brune AWF | VP Communications

AWF PRESIDENT’S MESSAGE

And just like that, our year together is coming to a close. With the holidays quickly approaching, I wanted to take this final opportunity to express my sincere gratitude for the 2023 AWF Board, committees, advisors and friends. We could not do it without you. And of course, thank you to our members for being a part of the AWF family. It is truly amazing to think back on all we have done together as I reflect on the year. Throughout the year, the Board continued to rally around our theme, “Leaning into Purpose by Connecting and Inspiring” through our foundational activities of Education, Networking and Mentoring . In November, we hosted our final event of the year “Managing the Balance Sheet” with George Goeke. This session featured an end-of-year rewind that highlighted the various educational, networking and mentoring opportunities that were offered this year. We hope you enjoyed all of these events that we were so proud to deliver to you. As always, you will find highlights of these memorable events in this quarter’s newsletter and can watch past event recordings on our AWF SharePoint. Also, make sure to click the star icon to follow us for the latest updates. It has been an honor to serve as the 2023 AWF President, and I would like to congratulate and welcome the incoming 2024 AWF board. They will be formally introduced later on in the newsletter.

We are so excited to see what 2024 has in store for us! Have a wonderful holiday season, and thank you again for being here.

BREAST CANCER AWARENESS MONTH OCTOBER

What is Breast Cancer Awareness Month?

Breast Cancer Awareness Month, is held in October every year and aims to promote screening and prevention of the disease, which affects one in eight women in the United States every year and 2.3 million women worldwide. Known best for its pink theme color, the month features a number of campaigns and programs — conducted by groups ranging from breast cancer advocacy organizations to local community organizations to major retailers — aimed at: supporting people diagnosed with breast cancer, including metastatic breast cancer educating people about breast cancer risk factors stressing the importance of regular screening, starting at age 40 or an age that’s appropriate for your personal breast cancer risk fundraising for breast cancer research

Breast Cancer Surgeon & Patient Advocate:

Dr. John Williams is a breast cancer surgeon in Northen Virginia and created the first video-based "online school for patients" to teach everyone exactly what they need to know to get better quality breast cancer care in their own community. His mission:

1. Improving breast cancer outcomes nationwide with the first, video-based “Breast Cancer School for Patients”. 2. As chairman of the President's Cancer Panel, improving cancer screening after the current disruptions of Covid. 3. Teaching others to use Technology & Marketing Best Practices for improving health everyone. Specifically how it applies to business success and altruistic causes.

Resources provided by: Krista Miller

Volunteer & Give this Holiday Season

Volunteering at Homeless Shelters & Food Banks During the holidays, homeless shelters & food banks around the country are in need of more volunteers. Many shelters could use the extra set of helping hands to accommodate the influx of people in need of food and shelter as the weather is typically colder during the holidays. Charitable Giving

Around the holiday season, many see it as an opportunity to give to charities.

There are hundreds and thousands of charitable organizations in the U.S that help those in need.

Here are a few to keep in mind if you're in the volunteering & giving spirit this holiday season!

Alzheimer’s Association | Alzheimer’s Disease & Dementia Help

AT&T Believes

American Heart Association | To be a relentless force for a world of longer, healthier lives

American Red Cross | Help Those Affected by Disasters

U.S. Hunger Relief Organization | Feeding America

United Way Worldwide

The Salvation Army USA

EXPLORING MEXICO

Chignahuapan, Mexico Acapulco, Mexico

CHIGNAHUAPAN MEXICO

By: Edson Jimenez Gonzalez and Angel Zaldivar

As we let you know in advance in our latest issue, we are going to be presenting a series of places in Mexico, mainly around Mexico City that you can visit and that pose a delight if you are a foodie, a history aficionado or just love having a great time and enjoy having fun. This time around we visited the State of Puebla, a State that links the Mexico City’s Valley States of Mexico, Morelos and Tlaxcala with the magical Mexican Southeast States like Oaxaca, Veracruz and even Guerrero, home of the world-renowned Acapulco Bay, that Frank Sinatra used to sing about in his song “Come Fly With Me” in 1958. In this State, which witnessed the famous Cinco de Mayo battle that we all know very well, a lot of the Mexican traditions that have endured and are regarded as symbols of the Country itself were born, and that is why we are starting this series of articles with one of its landmark cities: Chignahuapan. Chignahuapan is known for its Basílica de la Inmaculada Concepción (Immaculate Conception Basilica) and its huge figure of the Virgin Mary, carved from cedar. The central Plaza de Armas features a colorful wooden kiosk and the Parroquia de Santiago Apóstol church, with its brightly colored facade. But not only that, Chignahuapan is much more than that, in many ways.

This region was inhabited as early as the seventh century by the Totonaca people that lasted there until 10th century coexisting with the Nahua, Otomi and Tepehua communities. During the Mexican Conquest period Hernán Cortés, the Spanish Conquistador granted permission to Chichimeca Chief Chichimecuatehuipil to settle in, starting a town called Tetehuitic (Mount of pyramids) a cult center around god Mixcoatl, Mexica god of storms, war and hunting, this didn’t last much, since a little after 1527 Franciscan missionaries arrived in the place and established an evangelization center by the name of Santiago Chiquinahuitle (Nine eyes of water). In 1874 it was renamed as Villa de Chignahuapan. Chignahuapan was deemed a “Pueblo Mágico” and has legends and traditions that root deeply into the beliefs of its people. Franciscan Friar, Bernardino de Sahagún (1499-1590) spoke about a hell river named Chiconahuapan and archaeologist Alfonso Caso (1896-1970) relayed one of the tests to go into the underworld was to cross with a Xoloitzcuintle dog the Chiconohuapan river. The economy of Chignahuapan is based mainly in agriculture but is also supported by raising cattle, pigs, goats, poultry, carps, crabs, and trout. Nevertheless, the most outstanding industry in Chignahuapan is the creation of ornaments, mainly Christmas related, made of blown glass, housing more than two hundred workshops where more than seventy million units are created yearly, boasting the fame of this municipality to a nationwide range. This industry has become a tourist attraction, adding even more to this already interesting spot.

In the joyful streets of Chignahuapan one can find a stunning variety of products such as dried fruits, wooden toys, blown glass ornaments, grills, restaurants, tacos and quesadillas stands, natural beverages, even michelada beer served in a blender (licuadora) vase, called “licuachela”, clothing, knitted garments including knitted Viking helmets, home ornaments, and traditional candies. A Success story that we want to share revolts around the traditional candy industry in this town: Dulces Típicos La Esmeralda, is a family business that spans three generations of the Martinez family and more than seventy years of history. Don’t miss out the opportunity to visit them in Idelfonso Illescas No.19, Centro, 73300 Chignahuapan, Puebla, where you can find liquors, candies, mezcal, eggnog, fruit preserved in syrup and a long list of items both your eyes and your palate, won’t believe. On your next Mexico City trip, book a one-day visit to Chignahuapan, two hours away from Mexico City and at a cost of less than $200 USD you will find a place you will not forget. We want to wish you the happiest holidays with your beloved ones, a great and successful 2024 and we will bring more on this new year, wait for our upcoming report and review on a resort that has wood cabins that are actual treehouses. You will love it! What to do in Chignahuapan?

See you next year!

Acapulco Acapulco, Hurricane Otis, and Flagship: Making the Difference

By: Edson Jimenez Gonzalez and Angel Zaldivar

As you might already know, on the early morning of October 25, 2023, hurricane Otis hit the Acapulco area, one of the most renowned tourist attractions in Mexico, but more than that, it is one of the most influential and historical cities in our country. There is one thing all of us, Mexicans, know very well is how to perform: Unite and support each other. In this case the same approach was applied. After hurricane Otis devastated the Mexican Guerrero state’s shore and Sierra, thousands of people lost everything and found themselves, overnight, with almost close to nothing.

Flagship Mexico has been a part of AT&T Believes, a thriving effort to help those who are in a less privileged position than we are. In this time of need, we had to act and lend a hand on our compatriots in disgrace by the effects of this natural disaster.

In words of Geek Squad Team Manager, Gabriela Licea: “In Flagship, we give what we are, and we saw the necessity to reach out and share with our fellow Mexicans, as they have done in the past with us, in Mexico City” in clear reference to the terrible earthquakes that hit Mexico City in 1985 and 2017. “So”, Gaby continues, “I shared with my team the urgence to join our site effort and actually Win As One, since this is about our community. It’s not only Flagship, not only AT&T, but our community involved and for my team, Geek Squad, and for all of us, it means the opportunity to reach and live up to our values. Embrace AT&T and Flagship values, but also our personal values to really make a difference, while Focusing on People First”. The donated goods were gathered in site and personally brought to Acapulco by our team manager Ivan Reyes who shared with us images of this important endeavor.

Flagship Mexico: Focusing on People First, Always”.

AT&T WOMEN OF FINANCE

October 13, 2023

October 31 - November 2

By: Edson Jimenez Gonzalez and Angel Zaldivar

¿No me da mi Calaverita? (Won´t you give me my Little Skull?)

As we promised in last quarter's issue we are back to continue giving you insights on Mexican culture, places to travel to and things and festivities to enjoy on your upcoming trips to Mexico, sometimes we will probably even talk about events you already think you know of, but we're going to give you the backstage of the show and even plot twists you didn't even imagine. On this issue we will cover one of the most recognized Mesoamerican festivities that in recent years has been rediscovered and spread throughout the world, basically due to two Hollywood productions that have definitely added to the celebration itself and have helped us, as Mexicans rediscover and reassess our own paradigm, in this sense, 007: Spectre, and Coco have shown the world the death serious and colorful joy of celebrating our dead, usually over all Mexican territory on the same date: 2 of November, Día de Muertos (Day of the Dead). In Mexico we have learned to dance under the storm, overcome struggle, learned to laugh, even to the unlaughable, even about death itself. Do not get us wrong, we mourn, and we suffer the departure of our beloved relatives, grandparents, fathers, mothers, siblings, children. It hurts, they leave, and we stay here, without them, to continue suffering. But they can come back, once a year, this is the origin of Día de Muertos.

Los Muertos, the dead, were celebrated by the Aztecas as well as by many other Mesoamerican cultures long before Europeans started coming to the Americas on a regular basis, it was a one month long celebration comprising human sacrifices aiming to appease God Mictlantecuhtli and Goddess Mictecacíhuatl respectively the Lord and Lady of the Underworld: Suffering and sacrifice are pivotal points on Mesoamerican, and more specifically Aztecan cosmogony. Mictlān is no different: A 9 level terrible soul (tonalli) purification to finally achieve the longed-for rest in the presence of Mictlantecuhtli and Mictecacíhuatl. When the Spaniards learned about our rituals a slow but steady syncretism started taking place in both people's beliefs and celebrations creating the proper setting point for a new nation to be born. Pairing with All Saints’ Day on 1st of November and All Souls’ Day on November 2nd we believe our early departed relatives will be allowed to come back once a year to celebrate life with us. In our homes, on their tombstones, in the flesh and in the soul. The way to lure them to come is by creating an altar, with the food, the beverages they enjoy the most. Marigold flowers, known here as cempasúchitl (from náhuatl cempôhualxôchitl: "twenty flowers") mark the way the dead ones have to follow in both realms in order to get to the right altar and enjoy the food and the company of their still alive relatives. Also, in the same spirit as trick and treating our disguised children ask in the streets: ¿No me da mi Calaverita? (Won´t you give me my Little Skull?) making reference to the traditional Sugar candy skulls we sell in markets and squares that are used as a gift, usually with the name of the person we give it to as a gift.

This time around, I went to Puebla State, 2.5 hours away from Mexico City to visit the beautiful city of Atlixco, just some 40 minutes ahead of Puebla City. Atlixco is the Municipality that plants and delivers most of the cempasúchitl flowers in Mexico, were huge Catrinas (papier mache sculptures) are scattered around the City on the Valle de Catrinas (Catrina's Valley) Festival, held from 14th of October to November the 5th and was set for second time ever in this beautiful city. By the way, Catrinas were not part of the traditional Mexica/Azteca art or imagery, they were adopted by us, Mexicans after early 1900s, when an engraving printing character, La Garbancera (The Chickpea Gatherer), from José Guadalupe Posada a political cartoonist, that depicted a "catrina" (well groomed lady) a common name, "catrín", given to those who dress up pretending to be part of a social strata higher than the one they actually belong to. Ten monumental Catrinas were built and put on display throughout the city starting with Popocatépetl and Iztaccíhuatl (Mexico's legend volcano characters) and accompanied by the Prehispanic Poet, a reference to Nezahualcóyotl, the Poet Emperor, the Catrina Zocalera, on the main square, and many more, amidst the cempasúchitl fields, on the streets, and to make it even better teamed up with the Corn Fair, bringing delicacies as "elotes" (corn on the hob), corn and meat brochettes, “esquites” (corn on a glass with broth and spices) and many more.

Next time you come to Mexico you cannot miss Puebla, a gastronomical, historical, eye-candy trip to the real Mexico that you'll love, you cannot miss the “cemitas”, fried pork sandwiches, “mole” a dish prepared with more than 20 ingredients, such as different dried peppers, chocolate, and even animal crackers or the “camotes”, a traditional candy made of sweet potato. We give this trip a solid 8/10 and about affordability, depending on your boldness and curiosity it should range $70 USD - $150 USD. Under the frame of this Mexican celebration, we want to share with you the “Mexico City Ofrenda Activity” held by Business Customer Sales & Services. In this collaborative event, our representatives participated in a contest to creatively paint and decorate calaveritas, which were then used to enhance the beautiful Ofrenda. In addition to the calaveritas, ornaments in the shape of ladies were generously made & contributed by one of our Area Managers' family members, and the remaining decorations were a team effort from all Lines of Business. This tradition holds a special place in our office, particularly as we have returned to working on-site following the remote work period. We hope you enjoy the stunning display of our team's talent and dedication to preserving our cultural traditions, you can see the results clicking the next link: Mexico City Ofrenda Activity.

Authentic Mole recipe: HERE

What to do in Atlixco

We will be back next quarter, stay tuned.

HAPPY NEW YEAR 2024!

As the 2023 mentoring cycle comes to a close, we express our heartfelt gratitude to all the mentors who committed to participate and to the mentees who actively engaged in the process. Their dedication to fostering each other's growth and forming lasting connections will undoubtedly have impacts that reach far beyond this year!

Our participants have greatly benefited from the program and have been profoundly influenced by their circle, discover some of these instances below :

One thing my mentor circle has taught me is that diverse perspectives can greatly enrich our understanding and problem solving abilities. It has shown me the power of collaboration, and how each individual, with their unique experiences and skills, contributes to a more comprehensive and creative solution. The circle has also emphasized the importance of continuous learning and growth, underlining that our journey of professional development is a constant process, not a destination. Moreover, my mentor circle has instilled in me the understanding that mindset plays a pivotal role in our career growth and overall life trajectory. It has underscored that maintaining a positive, growth oriented mindset can propel us towards achieving our goals, overcoming challenges, and continuously evolving in our professional journey. - Neil Shah

The AWF Mentor Program was an invaluable resource for encouragement, providing a safe space for open discussions, and inspiring personal growth. During the challenging transition of supportive environment where we could share our concerns and receive constructive, positive feedback. This program truly helped in easing the process and fostering a sense of camaraderie among participants but also provided valuable insights into the perspectives of both employees and stockholders. It was an excellent learning experience that contributed to a better understanding of all parties' concerns and needs. - Margarita Olivarez returning to work, our mentoring circle was a

The AWF Mentor Program has provided me with invaluable insights into the company's operations and culture, enabling me to gain a deeper understanding of our organization. Furthermore, the mentorship has been instrumental in identifying and addressing my areas of opportunity, leading to significant personal and professional growth. The guidance and support offered by mentor have been truly invaluable, and I am grateful for the impact this program has had on my development. - Elaine Lopez

OUR VISION

The AWF Mentor Program opens the opportunity for you to reflect on your development and new steps you want to take into building a stronger confident self in benefit for your personal growth. Having this space to work among new peers and receiving insights from mentors and leaders across our organization really have that impact on wanting to know more about new areas. - Alejandro Granados

We are grateful for everyone's active participation in this year's program. Your feedback is highly valued, and we'll certainly use it to enhance next year's program. Planning for the upcoming year has already begun. If you couldn't participate this year, make sure to watch out for the interest survey for next year's program in January 2024. It's an opportunity you wouldn't want to miss to experience all the fantastic facets of our mentoring program.

Be sure to join next year! For information on the program, check out our SharePoint. Click link.

MOVEMBER 2023

Movember is an annual event involving the growing of moustaches during the month of November to raise awareness of men’s health issues, such as prostate cancer, testicular cancer and men‘s suicide.

INVESTOR CLUB - CFA EVENT

NOVEMBER 16,2023

By: Ning Wang

On November 16, the AT&T Women of Finance Investor Club held its fourth meeting of the year. This meeting included a panel discussion related to the Chartered Financial Analyst (CFA) program and its benefits to corporate finance careers. The panel included four finance managers who are all CFA charterholders. Jansen McGuire, Juli Galloway, Kevin Marvin and Dan O’Grady shared their experiences and insights related to obtaining, and the benefits of, the CFA charter. The panelists represented a diverse range of finance expertise, including treasury, finance operations, employee benefits and corporate development. Lauren Minch, the CEO of the CFA Society of Dallas Fort Worth, also joined the discussion. She underscored the benefits of the CFA charter in the corporate finance space and the advantages provided, emphasizing that employers actively seek CFA charterholders. She shared: "I think anyone who’s gone through the CFA program, you realize how much you learn. To me, it is the gold standard in finance. There is no other designation as large and as broad as the CFA designation."

Julie Galloway expounded the long history of AT&T’s senior executives recognizing and supporting employees pursuing the CFA charter. She highlighted how the CFA curriculum guided her investment decisions made during her time in treasury and benefits. Jansen McGuire echoed these sentiments by emphasized that obtaining the CFA charter demonstrates strong analytical skills and a commitment to professional excellence.

Dan O’Grady shared that the CFA charter was directly applicable to his role in treasury equity investments and analyzing investment options for AT&T’s retirement plan. He cited that the CFA curriculum was directly relevant to his day-to-day roles analyzing stock performance and Investment policies. Kevin Marvin described how the CFA charter serves as a "foundational building block" in his career, enabling him to evaluate potential acquisitions, divestitures and joint ventures for AT&T. Kevin also highlighted the importance of understanding cash flow and its impact on investment decisions, noting that cashflow and financial statement analysis are key components of the CFA curriculum.

Additional attendees shared their experiences and takeaways from the event:

“I am very glad I got the opportunity to attend the AWF Investor Club event. I had heard of the CFA prior, but the AWF CFA event helped me understand how relevant the CFA content and designation are. Although obtaining a CFA is not easy, the preferential treatment amongst other CFAs makes it seem essential for succeeding in a high-level Finance career. The standards for obtaining a CFA are more stringent than I previously believed, which lends itself to more credibility and an opportunity to stand out as part of an exclusive group of high achievers. One of my key takeaways was the importance of staying current with market trends and the value of continuous learning in the rapidly evolving financial landscape. I believe events like these are crucial for professional development and fostering a strong community within AT&T Finance. I'm grateful for the chance to have participated and look forward to future events.”

- Avery Lewis, FDP

“I attended the November 6th AT&T Women of Finance Investor Club - CFA Event with questions, and left with answers and new acquaintances. I better understand the benefits of a CFA and why it might be better for me than going back for another master's degree. The session was well run with an engaging panel of leaders who have their CFA, sharing their unique perspective. Not only did AWF raise my awareness of the benefits earning the CFA Charter but they have also been supportive in that pursuit. I am now a CFA Level 1 Candidate. Thank you, AT&T Women of Finance Investor Club!”

- Lorn Hungrige

If you would like to attend future AT&T Women of Finance Investor Club meetings, please contact Ning Wang (nw687w@att.com) to be added to the AWF Investor Club distribution list.

Please check out our past and future events at our Sharepoint site: AWF Investor Club (sharepoint.com)

INVESTOR CLUB - CFA NETWORKING EVENT NOVEMBER 16,2023

AWF LATAM Networking event - Office of the President Leaders at Mexico City Offices October 24, 2023

On October 24, the Office of the President leaders Nicolet Macikanycz - AVP, Marianne Roybal - Director, Jorge Martin del Campo Associate Director, visited our Mexico City Center at Toreo Offices, and after a Town Hall event, they hosted an AWF Networking event where attendees had the opportunity to connect and interact with them.

AWF LATAM Event - Lideres de Latinoamerica November 14, 2023

By: Denys Cabanas

AT&T Women of Finance (AWF) LATAM proudly hosted on November 14, an event that targeted diversity, culture, and inclusion in the workplace. This panel event granted the opportunity for attendees to join virtually, having around 361 participants. It was a pleasure and an honor to have two strong female leaders such as Karen Rivera Perez, who holds the Lead role for the Diversity, Culture, & Inclusion activities, and Josune Gonzalez, who is the manager for Diversity, Equity, Inclusion and Culture for AT&T here in Mexico City. Both leaders focused on sharing their initiatives and projects that have been implemented throughout the year. Programs have molded AT&T Mexico’s culture into an inclusive environment. Being able to fully understand how the initiatives impacted our culture and employees lives at work truly kept our audience engaged. During this event, Irma Garcia, AWF board member, hosted, introduced, and interviewed our guests. Details about our guest speaker’s work history and background were briefly covered. Irma highlighted the great work done by Josune to lead and push on the implementation of company policies and programs that help guarantee a safe workplace environment. Consequently, these programs have helped reduce discrimination, cultural bias, and lack of equality. Josune and her team have worked on an initiative called ¨Blue Surroundings¨ which allowed five people with autism Asperger's Syndrome to be hired full time, making AT&T the first Mexican Company to accomplish that. At the same time, AT&T Mexico is now ranked in the top ten best companies to work for when it comes to diversity and inclusion. This type of recognition is granted and received certification by Great Place To Work® (GPTW).

Our second guest was Karen Rivera who has seven years of experience in Human Resources. She leads several AT&T Employee Networks such as Women in Action and AT&T LGBT Alliance here in Mexico. Her participation and leadership have helped in the creation of strategies and activities the build a safe workplace environment free of discrimination with equal opportunities. Thanks to her support and leadership, AT&T Mexico has received the highly recognition of being Aequales certified by the Human Rights Campaign. During the interview Josune and Karen leaders talked about the Diversity, Equity, Inclusion, and Culture team origins, then, went over the main challenges they face when trying to guarantee all employees with a safe space. Most importantly they guided us on how to promote diversity with our teams and how to take inclusion at the workplace to a different level. After interviewers confirmed all questions were covered and answered, Irma appreciated our special guests, the audience and everyone who made this event possible, to later share the quick steps to become a member of our AWF Network. AWF committee organized this event to promote workplace inclusivity and equality awareness and it fulfilled its purpose. If you were not able to attend or would like to watch this event again, see the replay here .

AWF EDUCATION EVENT

Managing the Balance Sheet: Insights from AT&T’s SVP - Treasurer, George Goeke

November 14, 2023

By: Pam Jozwiakowski

AT&T Women of Finance recently had the pleasure of hosting a discussion with George Goeke, Senior Vice President-Treasurer, on the art of balance sheet management. George began by decoding the concept of balance sheet management, a crucial component of the overall capital allocation philosophy. The capital allocation philosophy is a framework guiding decisions on the utilization of cash from operations - the annual income of the company. This cash could be directed towards company investment, acquisitions, or debt and equity management. George emphasized that using this cash for debt and equity management epitomizes the idea of balance sheet management.

The decision-making process regarding capital allocation is influenced by the company's objectives and current progress towards those objectives. For AT&T, the focus is on business growth through fiber and 5G investment and debt reduction.

Speaking of debt reduction, a key aspect of balance sheet management, George delved into AT&T's debt history spanning two decades. He mentioned that AT&T, at one point, was the most indebted non-financial corporate entity in the market. However, significant progress has been made in reducing this debt. He also touched on how net-debt-to-adjusted-EBITDA ratios influence credit ratings, and how the growth of investment grade bonds, driven by historically low interest rates, has led to a decline in credit quality across the entire corporate spectrum.

While rising interest rates affect commercial paper and SOFR, resulting in higher costs for AT&T, George reassured that the impact should be limited as AT&T is focused on debt reduction rather than issuing new debt. He also presented an analysis of debt maturities by year, often referred to as 'debt towers', and noted that while most are manageable, the 2026 figure is higher than preferred.

George concluded by sharing insights on the impact of rising interest rates on working capital programs, which were previously beneficial during the era of low rates, but now pose liquidity management and interest cost challenges. He ended by emphasizing the role of AWF members in balance sheet management, stating that they can contribute by optimizing their control areas and spending company money judiciously, as if they were shareholders themselves.

If you were not able to attend and would like to watch the event, click here .

Rachel Simon

Networking & EOY Mentoring Event

Atlanta, GA November 28, 2023

Rachel Simon, VP – Privacy, hosted an end-of-year Networking Event and Mentor Circle celebration at our Lenox Park Blvd location in Atlanta, GA. Rachel’s presentation and tips on “ How to Authentically Network within your Company” were amazing. The feedback received was universally positive. The attendees also enjoyed the fellowship from Atlanta-based mentors/mentees that participated in the AWF Mentoring Circles this year.

AWF MENTORING EOY PARTIES

ST. LOUIS, MISSOURI DECEMBER 5, 2023

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DALLAS, TEXAS DECEMBER 6, 2023 AWF MENTORING EOY PARTIES

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AWF Women of Finance Giveaway: 1x1 Mentoring Session with AWF Executive Sponsor, Pascal Desroches

WINNER

Lead Financial Analyst Mass Markets, Sales & Distribution NEIL SHAH

1. What were your initial thoughts and expectations going into the mentoring session with Pascal? · Going into the mentoring session with Pascal, I was filled with a whirlwind of emotions – excitement, eagerness to learn, a touch of nervousness, and deep respect for Pascal’s journey to CFO. There was a complete sense of awe, realizing the opportunity to gain experience face-to-face from someone in such a pivotal leadership position within the company. These emotions fueled my readiness for what I hoped would be an enriching and valuable mentoring session. 2. Can you share one key learning point or insight you gained from your 1x1 session? · Pascal narrated numerous personal anecdotes regarding his professional journey, which resonated deeply with my current career sentiments. He shared that the key to accelerate career advancement is not about obsessing over a specific designation or role, but rather it is about truly excelling in your current position, fostering teamwork, ensuring the satisfaction of your collaborators, and receiving constructive criticism on your strengths and areas for improvement. He emphasized the concept that "the journey matters more than the destination" and truly doing a good job is the key that unlocks the treasure chest of successful career progression. 3. How has this experience impacted your perspective of AT&T as a company? · This experience has highlighted AT&T’s commitment to nurturing talent and fostering learning opportunities. The fact that such a key figure took the time to mentor and impart wisdom significantly underscores AT&T’s ethos, culture, and its investment in employee development. The generosity of Pascal's time and the opportunity provided by the AWF organization has left an impression, and it is an experience for which I am truly thankful. As I navigate my personal and professional life, I will treasure this incredible experience as a guiding light.

“THE JOURNEY MATTERS MORE THAN THE DESTINATION”

AT&T WOMEN OF FINANCE 2023 EOY RE-CAP OUR 2023 THEME

MEMBERSHIP

EDUCATION

NETWORKING

MENTORING

Thank you for a great year! AT&T Women of Finance 2023

AT&T WOMEN OF FINANCE

WELCOME 2024 BOARD MEMBERS

Pam Jozwiakowski* President

J ack Maher* VP - Education

Hashima Charles* A VP - Education

Denise Yee VP - Communications

Jessica Reyes AVP - Education

Ragen Reddick* VP - Membership

Deidra Hicks VP - Mentoring

Jeff Shelfo* VP - Technology

Ning Wang* VP - Networking Investor Club

Marcie Frank AVP - Networking Events, U.S.

Will Wrench Chief of Staff

Denys Cabanas AVP - Networking, LATAM

*Also served as 2023 Board Member

6|AWF Magazine

AT&T WOMEN OF FINANCE

2023 COMMITTEE MEMBERS

MENTORING

EDUCATION

MEMBERSHIP

Grace Guerrero Cicely Hawk William Jackson Kanwardeep Jaspal Terry Jay

Steve Chamblee Dana Havlicek Martha Martinez Caroline Perez Samantha Soulias

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