CFO and Strategic Business Partner--Successful in Building and Improving
Companies
Twenty years of executive level financial experience
Recognized for completing over 50 acquisitions and growing retail chain from 23
to 251 stores
Exemplary record of strategic planning, financial management and creative
problem solving
Areas of Added Value:
Mergers & Acquisitions
Information Systems Design
Investor/Bank Relations
Budgeting & Forecasting
Cash Management
Corporate Tax
Risk Management
Customer Relations
Real Estate Leasing
Internal Controls
Human Resources
Systems Integration
Process Improvement
Operations Analysis
"Change" Agent
Cost Cutting
Experience:
September 2002 to Present Franchise Ventures, LLC
Founder and Principal
Formed company to assist business owners in finding the right source of capital
for liquidity or growth. Consulting services are also provided in retailing,
strategic planning, financing and franchising. Accomplishments include:
* Serving as interim President for two start-up ventures in golf industry;
* Consulting with telecom company attempting to penetrate European market;
* Raising $14 million of capital for "fast casual" food franchisor to acquire
another brand name;
* Developing complete franchise program for "big box" laundromat operator
and selling first four franchises;
* Consulting with furniture retailer regarding expansion; and
* Consulting with commercial maintenance company regarding a liquidity event.
1986 to 2002 Senior Vice President & Chief Financial Officer
National apparel retail chain with $150MM in revenues. Recruited by the CEO
subsequent to a leveraged buy-out. There were 5 direct reports and up to 125
staff. Strategic plan was to consolidate a fragmented industry. System
revenues tripled and EBITDA increased 480%.
Responsible for strategic and business planning, investor relations, financial
management, information systems and human resources. Directing a variety of
operations, accomplishments included:
* Growing company owned stores from 23 to 251;
* Increasing revenues 10% and decreasing cost of goods 25% by vertically
integrating the company into wholesaling and manufacturing proprietary
merchandise;
* Completing the acquisition and integrating the operations of over 50 stores in
a fourteen month period;
* Helping develop store operating model that improved average profit margins
from 2% to 19%;
* Convincing Board to commence expansion program by proving that
distribution model and corporate infrastructure were capable of handling rapid
growth;
* Cutting corporate costs by $750K in 1996;
* Slashing accounting costs by $300K after a company merger and systems
integration in 2002;
* Responsible for production and distribution center for five years implementing
numerous process changes and reducing costs/unit by 20%;
* Assisting in formulating a capital structure that allowed for the merger of a
170 store chain and simultaneous acquisition of a 30 store chain in the year
2001 within a poor lending environment;
* Developing strategic plan for management structure and brand name usage;
* Beginning in 1987, re-designing financial information flows, and creating,
testing and implementing new systems within twelve months including a
proprietary POS system;
* Successfully revising all information systems to avoid Y2K problems;
* Monitoring the conversion of POS system from DOS to Windows;
* Creating and implementing inventory and cash management systems;
* Facilitating leveraged buy-out of company in 1990 and again in 1999;
* Negotiating and interacting with lenders and venture capital investors in
numerous recapitalizations;
* Minimizing accounting administrative time by 50% by developing a new
budgeting system, which also allowed operations personnel more direct input;
* Acting as a "change agent" to integrate cultures and business processes with
every acquisition, merger or change in ownership;
* Developing all employee benefit, retirement, stock option and incentive plans;
* Creating new revenue stream by providing direct mail services;
* Outlining all operating metrics, collaborating in the measurement
methodologies and providing consistent, timely reports highlighting exceptions;
* Implementing a unique tax depreciation method for the company's largest
asset, reducing current tax liability by $500K;
1985 to 1986 Vice President of Finance
Healthcare organization that owns hospitals, nursing homes and
home health care centers with $1B in revenues. There were 15 direct reports and 25 corporate staff members. Reporting to the Executive VP, principal duties
were the consolidation of financial and budget reports and handling all Treasury
functions (i.e. issuance of bonds, monitoring bond covenants and cash
management). Also sat on the Board of one subsidiary. Strategic plan was to
add new customers by constructing and staffing medical clinics beyond the
traditional territorial radius. Accomplishments included:
* Raising $70 million for fixed asset development by issuing two separate
tax-exempt bond series;
* Maximizing revenues by developing a point of sales software program that
provided for the private billing of home health care services.
* Creating a franchising subsidiary and selling the first 9 franchises.
1977 to 1985
Recruited to operator of automotive repair specialty shops by the
VP Finance and supervised a staff of eight. The system grew from 40 stores
and $15 million in revenues to 100 stores and $55 million in revenues. The
company's solid growth led to its acquisition by Tenneco Automotive in 1984.
After the operational transition, all positions were absorbed by Tenneco's existing operations in Toronto.
Director of Finance (1984-1985)
Reported to the COO and was responsible for preparing interim and year-end
financial statements and supervising all MIS functions. Accomplishments included:
* Integrating financial and operational systems with acquiring entity.
Controller (1980-1984)
* Selling all real estate developments on a sale and leaseback basis despite
high prime rate of 21%;
* Eliminating a material contractual exposure by negotiating the amendment of
31 subleases;
* Reducing past due receivables by 80%; and
* Automating accounting system thereby reducing time to close monthly
financials from 30 to 7 days.
Accounting Manager (1977-1980)
* Creating and implementing the corporation's first accounting system including
a detailed policy and procedures manual; and
* Reducing annual audit fees by approximately 65% and tax fees by 85%.
1974 to 1977 Arthur Andersen & Co.
Chicago, IL
Associate-Audit Division
Member of the Regulated Industries Audit Division with exposure to
manufacturing and consumer product firms. Audit clients included K-N Energy,
Kraft Foods, Commonwealth Edison (now Exelon), Chicago & Northwestern
Railroad and others.
Education:
B.S. Accounting, Ferris State University, 1974
CPA, (Illinois) 1976
M.B.A., Finance, DePaul University, 1982 |
