Career
After receiving his MBA, Chookaszian began his career at Deloitte and worked as a management consultant for eight years. He joined CNA Insurance in 1975 and served as CFO for 15 years, added CIO duties, and eventually served as chairman, president, and CEO for nine years. He also served on the board of directors as chairman of the executive committee for three years after his retirement.
Chookaszian then struck out on a new path for the next phase of his career and became the CEO of an internet startup, mPower, the first electronic advisor for managing retirement funds. He also served for five years as chairman of the Financial Accounting Standards Advisory Council (FASAC), which advises the Financial Accounting Standards Board (FASB) on its agenda.
A teacher for more than 40 years, Chookaszian serves as an adjunct professor at Chicago Booth, where he has taught corporate governance for the past five years, and was quickly able to make the transition to online classes during COVID-19. He also teaches courses in corporate governance at two universities in China, Cheung Kong Graduate School of Business and Shanghai Advanced Institute of Finance. He also taught for 10 years in India at IIPM, the Indian Institute of Planning and Management, and developed the Finance and Accounting for Non-Financial Executives course for the American Management Association.
“I really enjoy teaching,” he said. “I’m continuing to create new courses based on the latest governance developments. At Booth, I developed the corporate governance course on the practical aspects of running a business, and it’s evolved over the years. I enjoy incorporating new material such as blockchain, cryptocurrencies, autonomous vehicles, the sharing economy, cybersecurity, and internet marketing.”
He has continued to expand his board service. In the course of his career, Chookaszian has served as a director of 13 publicly traded corporations, 70 private companies, and 15 nonprofit organizations. He is also a lifetime member of the Chicago Booth Council.
“I knew that once I left CNA, my career was going to be a combination of board service and teaching,” he said. “I have enjoyed helping a variety of companies in diverse industries to develop and implement their strategic plans.”