CFO/GROUP CFO
Global Manufacturing and Services
Innovative, growth driven senior finance executive with a demonstrated background in diverse industries. Strong business partner forging relationships with operational leaders to develop and implement solutions that solve complex strategic and tactical problems. Intuitive, committed and persuasive leader of high integrity. Areas of expertise include:
• Planning, Forecasting & Analysis
• Management Reporting & Metrics
• Cash Management
• Accounting Control & SEC Reporting • Business Strategy
• Mergers, Acquisitions and Joint Ventures
• Business Integration
• Finance Processes and System Implementations
PROFESSIONAL EXPERIENCE
BUREAU VERITAS, Paris, France
Vice President and Division Controller, Consumer Products Services, 2005-2006
Led the division wide finance network of regional centers overseeing all budgeting, forecasting, analysis, control, reporting, audit and mergers and acquisitions for Consumer Products Services (CPS), a division of the French company Bureau Veritas. CPS is one of the leading quality assurance providers for the consumer product and retail markets, improving consumer protection, confidence and satisfaction.
CPS provides an extensive range of specialized services including testing and inspection, in over 60 locations in 40 countries supported by over 4,000 employees. Lead a global finance team of 130, with 70% of sales generated in Asia, 15% in Europe and 15% in North America.
ARVINMERITOR, INC., Troy, Michigan
Merger of Meritor Automotive and Arvin Industries in 2001
Vice President Finance, Light Vehicle Systems, 2001 - 2004
Directed all financial planning, forecasting, analysis, control and reporting for the $4.5 Billion Light Vehicle Systems Group (LVS) following the merger with Arvin Industries. Key member of LVS strategy board responsible for the generation and implementation of the five-year plan involving customer, product, operations, supplier, partner and financial goals. Held financial management responsibilities for seven business units within LVS with 60 manufacturing locations.
LVS is a global business with 45% of its sales in Europe, 45% in North America, and 10% in ROW. Seven direct reports are located at business unit headquarters (Germany - 2, France, United Kingdom, Brazil, United States - 2) with approximately 400 people in the global finance organization.
• Business Integration: Integrated Meritor and Arvin light vehicle businesses. Savings included salary and indirect headcount reductions, plant closures, R&D center closings, and non-strategic business/plant sales. Annualized savings associated with these actions amounted to $45,000,000 with one-time charges of $25,000,000.
• Finance Function Enhancement: Established the finance function as the business partner to general management. This focus on business partnering generated a new sense of purpose in finance and improved the finance contribution in the Arvin related businesses.
• Shared Services Implementation: Implemented country-specific shared services centers to reduce costs, ensure best practices and improve the control environment. Combined three French facilities, three German facilities and made significant progress in Mexico and Brazil. Also added two facilities to U.S. shared services center.
• Management Reporting Acceleration: Eliminated and streamlined management reporting. Eliminated all superfluous reporting to reduce headcount, including multiple product line reporting at the plant level, detailed customer reporting and detailed reports by plant on travel, consulting and outside services.
• Common Systems Strategy Reintroduction: Due to cost constraints, LVS had cancelled all systems implementations. With the support of IT and the corporate controller, revived MFG/PRO implementation strategy for the LVS facilities beginning with those with the most critical control issues.
• Financial Focus Implementation: Initiated a “back to basics” plant financial focus. Revived operations meetings at facilities which had become infrequent and disorganized due to a change in top management in LVS. Plant visits had all but ceased and the lack of face time contributed to poor performance at numerous facilities.
• Central Tube Facility Sale: Completed sale of central tube facility, divesting the business of a non-core manufacturing process and outsourcing it to a steel supplier. Using financial projections prepared by the finance staff, sold the facility for a $30,000,000 gain with a very competitive supply agreement.
• Joint Venture Divestiture: Provided financial leadership for the divestiture of Spanish joint venture with Kayaba. Oversaw the financial projections related to the sale of ride control JV with Kayaba, a Japanese partner.
MERITOR AUTOMOTIVE, INC., Troy, Michigan
Spin-off of Rockwell International’s Automotive Businesses in 1997
Vice President Finance, Light Vehicle Systems, 1998 - 2002
Directed all financial planning, forecasting, analysis, control and reporting for Meritor’s $1.9 Billion Light Vehicle Systems Group (LVS). Functioned as a strong business partner supporting the LVS president in the generating and implementing of the five-year plan involving customer, product, operations, supplier, partner and financial goals. Held financial management responsibilities for seven business units within LVS with 30 manufacturing locations.
• Dramatic Margin Improvement: Improved LVS operating margins over 100% in two years. Continuous personal management focus and action resulted in significant improvement at almost all facilities. Renewed focus was placed on solving customer quality and delivery issues. This resulted in not only improved performance but generated new business as the customer recognized LVS as a critical supplier.
• Business Integration: Integrated the Arvin-Kayaba business. The results were a significant improvement in quality, safety, customer relations, asset management and operating margins for the motion control business.
• Seat Adjusting Systems Business Divestiture: Divested seat adjusting systems business, a non-core, Tier Two business headquartered in Canada that had lost money in every year of business until late 1999. The sale generated a gain in excess of $70,000,000 on a business with $100,000,000 in sales and a history of losses.
• Seat Motor Business Divestiture: Associated with the seat business sold above was a specially designed motor. This business was sold a year later to Johnson Electric for an additional $5,000,000 gain.
• Cash Flow Generation: Focused the group on working capital reductions. The team brought a new focus to inventory reductions, receivable collection and maximizing accounts payable. The result was a 3% improvement in working capital as a percent of sales, or approximately $60,000,000 of generated cash.
• Team Building: Built a strong, results-oriented finance team. Encouraged the finance function to develop relationships with other functions, and to become trusted members of the management team.
• Management Reporting Streamlining: Eliminated non-essential management reports, which allowed LVS to keep a very small headquarters staff of only four throughout the time period when the business grew from $1,500,000,000 to $4,500,000,000 while providing more efficient data.
• Systems Strategy Definition: Collaborated with VP operations and VP information technology to formulate a low-cost systems strategy that would use MFG/PRO as the system of choice for LVS. Standardized approach to installation simplified training and future upgrades. People and their systems knowledge became portable.
• Shared Services Initiation: Began a shared services strategy within countries. LVS now has shared services at many of the plants in France, Holland, Germany, Brazil, Mexico, Czech Republic and the United States.
Vice President and Controller, 1997 - 1998
Initiated and developed the controllership organization for the spin-off of Meritor Automotive, Inc. ($4.5 Billion) from Rockwell International and delivered Meritor’s first annual report in December, 1997. Oversaw all financial planning and internal performance reporting across the company as well as external reporting and accounting policies. Communicated financial results to senior management, shareowners, and government agencies including annual report development, investor relations presentations, press releases, monthly reviews of business unit results and a quarterly financial review with the audit committee.
• Oracle System: Actively participated on a steering committee for a worldwide Oracle system implementation.
• Compensation System Design: Extensively involved in the design, development and implementation of Meritor’s compensation system including annual bonus, long-term bonus and stock option programs.
• Spin-Off Development: With extremely limited corporate resources, managed to meet all SEC deadlines.
ROCKWELL INTERNATIONAL, Milwaukee, Wisconsin
Acquired Allen-Bradley Company in 1985
Vice President Finance, Industrial Control Group, 1995 - 1997
Held responsibility for developing and implementing global short and long-term financial plans to achieve the group’s business objectives. Directed the group’s overall accounting practices, maintenance of fiscal records, and preparation of the group’s financial reports. The Industrial Control Group was a $900,000,000 group in sales with manufacturing locations in North America, Switzerland, Italy, and the Dominican Republic.
Vice President Finance and Administration, Operations Group, 1992 - 1995
Held responsibility for accounting, financial planning and cost accounting for the N.A. manufacturing and logistic sites for Rockwell Automation. These manufacturing sites generated $1,500,000,000 in sales.
Vice President Finance and Administration, Industrial Control Group, 1991 - 1992
Held responsibility for all aspects of accounting and financial planning for a $600,000,000 group (six divisions).
Vice President/Controller, Industrial Control Group, 1986 – 1991
Assistant Controller, Industrial Control Division, 1985 - 1986
ADDITIONAL EXPERIENCE
ALLEN-BRADLEY COMPANY, Milwaukee, Wisconsin, Acting V.P. Finance/Assistant Controller, Industrial Control Division, 1984 - 1985. Manager Financial Planning and Analysis, Industrial Control Division, 1983 - 1984. Manager, Financial Planning, Industrial Control Division, 1981 - 1983. Financial Analyst - Investments, 1979 - 1981. Junior Operations Analyst, 1979. Heritage Bank Whitefish Bay, Milwaukee, Wisconsin, Commercial Loan Officer, 1977 - 1979.
EDUCATION
University of Wisconsin - Milwaukee, Milwaukee, Wisconsin
M.B.A., Finance, 1976
B.A., Finance, 1975 |
