<p>Doug Audiffred has been named chief financial officer of <a href="http://www.mccarthy.com">McCarthy Building Companies, Inc.</a> , one of the nation's oldest and largest privately-held construction companies.&nbsp;&nbsp; He assumes this new position following a year-long transition period with former CFO George Scherer.&nbsp; Scherer, 63, retired on December 31, 2008, after 26 years with the firm.<br /><br /><img alt="Audiffred" class="image-left" height="366" src="/images/uploads/Doug-Audiffred.jpg" style="float: left;" width="244" />Audiffred, 42, has more than 20 years of experience in accounting and finance, having worked for a large public accounting firm and a<br />manufacturing company prior to joining McCarthy as corporate controller in 1994.&nbsp; A member of the McCarthy executive committee since 2007, he most recently served as vice president of finance, responsible for all company accounting and financial reporting.<br /><br />"Over the past decade, our company has undergone a number of important changes, the most significant of which was our long-planned transition from a family-owned company to 100% employee ownership," said Mike Bolen, McCarthy's chief executive officer/chairman.&nbsp; "Doug played an instrumental role in this conversion and has continued to enhance the sophistication of McCarthy's finance function as our company has evolved."&nbsp; Audiffred has also played a significant role in the advancement of the company's modeling and forecasting capabilities; the creation of stand-alone internal treasury and risk management functions; and management and implementation of the McCarthy employee stock ownership plan (ESOP). He will be based at McCarthy's corporate headquarters in St. Louis.<br /><br />During Scherer's tenure as corporate chief financial officer, the company experienced significant growth.&nbsp; He played a key role in managing the growing business and served as the company's first true corporate controller. "George created reporting and tracking mechanisms to assist in short-term and long-term business planning; led the company transition from family to employee ownership, including a 2008 transition to 100% ESOP; and oversaw the transition from a C-Corp to S-Corp structure," Bolen said.&nbsp; "His unique blend of strong accounting knowledge and business acumen has been instrumental in the company's success for more than two decades.&nbsp; He will be<br />greatly missed."<br /><br />"I am honored to have been chosen to follow in George's footsteps," commented Audiffred. "In addition to continuing to build and maintain<br />relationships with our financial stakeholders, I remain committed to protecting and enhancing an already strong balance sheet to build<br />shareholder value for our employee owners."</p>