FacultyFaculty/Author Profile

Jeffrey H. Aiken

Carestream Health
Chief Tax Officer
Rochester, NY, USA


Jeff Aiken is a senior Tax and Treasury executive with 31 years of corporate and public accounting experience. He currently serves as Carestream Health's Chief Tax Officer. His experience in a variety of industries, including manufacturing, retail, consumer products, and e-commerce, is complemented by his background in tax, treasury, accounting, and law.

Aiken's practical, creative solutions to complex problems resulted in performance significantly outpacing competitors. His expertise is recognized by leadership positions in the preeminent international tax professionals' (International Fiscal Association) and key industry trade groups.

He leads the global tax function at Carestream Health, a top provider of medical and dental imaging systems with 70% of its sales abroad. Carestream purchased its business from Kodak in 2007, funded by Onex, Canada's largest private equity firm. At Carestream, he has designed and implemented tax structures and controls for the newly acquired business that had minimal tax infrastructure.

These structures involved the implementation of a portfolio of tax strategies, addressing numerous regions/countries, including the US, Europe, China, Japan, India, Mexico, Brazil, Russia, and Israel. He also led treasury initiatives including the design and implementation of the Company's repatriation strategy, country ROI analyses, and the determination of dividend payouts.

During his tenure at Office Depot, the company grew from a $4 billion organization to a complex $14 billion, Fortune 160 multi-channel distributor of office products. It has over 50,000 employees worldwide; 1,100 stores, and 22 warehouses in North America; and operates in over 20 countries.

While at Office Depot, most recently as Senior Vice President, Aiken led a team that reduced the tax expense rate (effective tax rate) from 37% to below 30% over a four-year period. Aiken was also a key participant on the acquisition teams for a $2.7 billion US publicly traded company, a $1 billion European subsidiary of a European parent, as well as smaller domestic and foreign acquisitions.

Drawing on his broad business background, he twice led the Company's Treasury Department for a total of three years- during a one year period essentially as co-CFO. During this time he optimized the Company's capital structure, and managed the amount and tenor of debt and bank/rating agency relations and investments. Aiken also negotiated a $300 million five-year/$250 million 364-day facility in a difficult bank credit environment, compounded by a prior downgrade from poor operating results.

Aiken's management experience includes other multibillion dollar global corporations (Continental Can and Toys "R" Us), and smaller multinationals such as private equity-funded Berol Corp. Earlier in his career he served in management roles for two of the then-Big Eight accounting firms.

Aiken earned a CPA, and two law degrees, an LLM from Georgetown and a JD, cum laude, from the University of Miami. He graduated from Towson University, magna cum laude, with a concentration in Accounting when he was 18 years old. Further, he has written for technical tax journals and spoken on various tax and accounting topics. In his free time, Aiken enjoys spending time with his family, running, tennis, and working out.

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