2023 CFO of the Year: Rick Schulz

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(IBJ photo/Eric Learned)

Executive Vice President and Chief Financial Officer | United Cos.

Rick Schulz joined Evansville-based United Cos. in 1992 as CFO. United Cos. comprises four businesses: United Leasing & Finance, Professional Transportation Inc., Romain Automotive Group and Tri-State Aero. “Rick is brilliant at thinking and advancing projects at a high level to improve the financial performance of each business unit [within] United Cos.,” his nomination reads. “Over the course of Rick’s career at United Cos., he has been able to develop and cultivate lending relationships and tirelessly negotiates fair and competitive financial and business terms.”

Major accomplishments
Schulz has assisted the board chair and CEO in growing United Cos. from $50 million to more than $400 million in assets during his career. He also developed the IT department and managed it for over 25 years. And he established a syndicated credit facility with national financial institutions. “He has been a significant contributor to not only enhancing United’s capital structure but also created meaningful partnerships with some of the largest banking institutions in the country,” his nomination reads. 

Challenges overcome
“A challenge over the past year is rising inflation and increase in the market interest rates,” he said. “The company overcame it by growing in originations, cost-cutting and sound negotiations, resulting in record earnings once again.”

Career path
After graduating from college, he went on to earn his CPA and an MBA while working full time for Thomson Consumer Electronics in Indianapolis. He joined United Cos. in 1992. 

My job would be easier if …
“There were no employees to manage, and the cost of money was free.”•

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