PROFESSIONAL EXPERIENCE
TATUM, LLC PARTNER - ATLANTA, GEORGIA 2001 TO PRESENT
A $200 million executive services company, Tatum provides strategic and operating leadership in finance and information technology. Engagements included:
CHIEF FINANCIAL OFFICER - EXPRESS CHECK ADVANCE, LLC, (MAY 2006 AUG 2008)
A $30 million private equity owned payday loan company with 142 retail locations in Mississippi, Louisiana, Virginia, Alabama, Kentucky, Colorado and Nebraska. .
Negotiated a forbearance agreement on a $15 million senior debt facility that ultimately led to a restructured and two-year extended $11.5 million senior debt facility.
Successfully sold a $6 million subsidiary in order to restructure the balance sheet.
Shutdown and dissolved, outside of bankruptcy, a $5 million subsidiary due to a regulatory change.
Improved EBITDA from $0.5 million in 2006 (1.25% EBITDA margin) to a projected $6 million in 2008 (20% EBITDA margin).
Improved accuracy and timeliness of financial reporting by reorganizing the accounting department, eliminating 5 of 10 positions, streamlining the MAS-90/200 consolidation, month-end reporting and accounts payable processes, and improving accruals and prepaid procedures.
Developed long term financial models and led the creation of two separate confidential information memoranda in support of a potential sale of the company. (The sale of the company did not close due to the buyer losing its financing as a result of changes in the credit markets.)
CHIEF FINANCIAL OFFICER - NORTH STAR WASTE, LLC, (JUNE 2005 MARCH 2006)
$22 million family owned non-hazardous liquid waste management company with principle operations in New York, New Jersey, and Pennsylvania providing bulk liquid waste transportation for commercial and municipal customers and septic service for residential customers.
Evaluated the financial state of the company and recommended a strategy to improve operations and then sell the company.
Orchestrated a turnaround that resulted in more than $1 million in annual cash savings and brought the company to break-even by restructuring the management team, reducing headcount, negotiating with key vendors and creditors, re-bidding commercial insurance and advertising management programs, and restructuring long-term bulk transportation contracts..
Improved the accuracy of financial reporting by reorganizing the underperforming accounting organization, outsourcing payroll, consolidating accounts payable, relocating the controller function, and restructuring the banking relationship.
Collected more than $600k in aged accounts receivable by streamlining the collection and billing processes.
The company subsequently sold off its three divisions within eight months of beginning these initiatives resulting in approximately $5 million increased value to the family.
CHIEF FINANCIAL OFFICER, SECRETARY, & DIRECTOR - RODENSTOCK NORTH AMERICA, INC, (MARCH 2002 MAY 2005)
$30 million US subsidiary of a 125-year-old German eyewear (lenses and frames) manufacturer. Manufactured ophthalmic lenses and distributed frames and lenses manufactured overseas.
Relocated the finance and accounting department to Columbus, Ohio, including hiring and training an entirely new department of eight within three months of arrival.
Oversaw the completion of the stalled financial audit and made numerous process and control improvements.
Negotiated a forbearance agreement and a new $20 million Convertible Preferred Note with the senior creditor.
Negotiated and executed forbearance and conversion agreements with the companys principal creditor for $90 million of outstanding debts.
Instituted operational changes that resulted in the reduction of accounts receivable from more than $8 million to less than $2 million and the reduction of finished goods inventory from more than $20 million to less than $9 million.
Successfully raised $2.5 million in senior secured debt while restructuring the companys balance sheet.
Initiated and completed numerous process and business improvement projects including, JD Edwards ERP system improvements, credit and collections overhaul, financial model development, and monthly financial reporting implementation.
Successfully managed the asset sale of the company to a financial investor.
OTHER ENGAGEMENTS
Developed a strategic financial model for a start-up bio-tech company (Quantum Immunologics, Inc.) which has developed an exciting cancer immunology treatment.
Developed a strategic financial model for a $13 million prepaid calling card company (Viscom International) and provided financial and strategic consulting advice to the CEO.
Consulted for an international telecommunications company (I-Tel Networks, Inc.) in Atlanta, Georgia, creating financial models, drafting the business plan, organizing the SEC reporting procedures, and managing the finance operations.
Consulted for an IT Systems Integration company (Adage, Inc.) in Atlanta, Georgia by developing a 5-year business plan, consulting on several external business initiatives, and process improvement.
QOS NETWORKS, INC., ATLANTA, GEORGIA 2000 2001
$50 million venture capital funded start-up international data communications company focused on the global IP services market and headquartered in Ireland with operations in six countries and an IP network spanning 13 countries. Recruited by a founder who I worked with at both Equant and WorldPort Communications.
VICE-PRESIDENT, FINANCE AND ADMINISTRATION
Developed from scratch the financial and administrative infrastructure to support a high growth company.
Established a global cash management system to allow central cash management for 18 wholly owned subsidiaries across three continents.
Managed the review, selection and implementation of a new ERP system (Lawson).
Coordinated the development of an international tax and corporate structure plan which resulted in an effective income tax rate of less than 20%, based upon a complex transfer pricing and profit allocation structure.
Negotiated a number of international and domestic long-haul bandwidth contracts yielding a very scalable bandwidth capacity purchase structure, in terms of pricing, growth and financing.
Managed the financial downsizing of the company after the loss of its principal investors.
Extended the operating life of the company by four months by trimming costs, re-negotiating key vendor contracts and negotiating payment plans.
Oversaw the initial months of Chapter 11 proceedings until a court appointed Chapter 7 trustee was retained
INTEROUTE TELECOMMUNICATIONS, INC., NEW YORK, NEW YORK 1999 - 2000
$60 million wholly owned subsidiary of Interoute Communications Limited (UK). Recruited by the CEO who I worked with at both Equant and WorldPort Communications.
VICE-PRESIDENT OF CORPORATE FINANCE & CHIEF FINANCIAL OFFICER
Restructured the financial operations of this new operating subsidiary consisting of six non-integrated and recently acquired companies.
Greatly improved the financial reporting accuracy and timing by implementing controls and procedures to turnaround a chaotic situation for which no consolidated financial statements had yet been produced.
Produced the companies first audited financial statements.
Developed product pricing models and business plans for the new integrated company products and services.
Developed and implemented the plan to sell the company, including supervising the creation of the prospectus and working closely with outside advisors. (The company was subsequently sold after I had departed.)
WORLDPORT COMMUNICATIONS, INC., KENNESAW, GEORGIA 1998
A venture backed publicly traded telecommunications start-up company. Recruited by the COO who I worked with at Equant.. Left the company after almost a year due to philosophical differences with the CEO.
VICE-PRESIDENT, FINANCE & ADMINISTRATION
Created and managed the finance and administration group as the company grew from monthly revenues of $500,000 to more than $5 million in less than six months.
Oversaw the financial reporting function including the submission of SEC filings (10Q, 10K, and 8Ks) and reviewing press releases to ensure Reg FD compliance.
Participated in drafting a high-yield debt public offering memorandum.
Negotiated an equipment leasing facility of $30 million that was used to finance network assets being deployed in 14 countries.
THE SITA GROUP, ATLANTA, GEORGIA 1994 1998
$1.3 billion 45-year-old international voice and data telecommunications and information technology company owned by the airlines of the world.
DIRECTOR OF OUTSOURCING, EQUANT, INC. (MARCH 1996 MARCH 1998)
Authored a comprehensive Network Outsourcing Strategic Analysis document which was used to formulate and develop Equants global outsourcing strategy.
Principal member in a $1.6 billion revenue data network outsourcing opportunity with a large US multinational corporation and a $240 million revenue data network outsourcing opportunity with a large French chemical and pharmaceutical company.
Developed multiple financial models supporting the outsourcing initiatives.
DEPUTY GENERAL MANAGER, GETS MARKETING COMPANY (NOVEMBER 1994 MARCH 1996)
Responsible for the day-to-day operations of a computer reservation system (CRS) marketing company with a staff of 20 and annual revenues in excess of $10 million with operations in Africa, Asia, Eastern Europe, and Latin America.
Increased the operational effectiveness of this travel automation company by implementing a product development tracking system, a sales planning and tracking system, and a monthly activity reporting system.
Initiated and progressed discussions with the four mega-CRS companies for the development and implementation of a long-term strategic alliance with GMC, resulting in a merger with Galileo.
THE SABRE GROUP, SABRE TRAVEL INFORMATION NETWORK, FT. WORTH, TEXAS 1991 1994
$2.0 billion publicly traded global computer reservation system company that provides airline, hotel, car, and cruise reservation systems to travel agents, airlines, and the Internet (Travelocity).
SENIOR FINANCIAL ANALYST, FINANCIAL PLANNING & ANALYSIS DEPARTMENT
Advised the Vice-President, Asia/Pacific, on numerous strategic issues related to STIN's expansion in Asia, including China, India, and Japan.
Conducted analyses and was a key participant in negotiations with Japan Airlines for the creation of a new computer reservation system equity partnership between Axess and SABRE, numerous major account proposals, developed a sales targeting report by estimating the profitability of a number of sales prospects
Coordinated all finance issues to include planning, forecast and analysis for the Sales and Service Department consisting of over 600 employees across the U.S., Canada, Caribbean, Japan and Latin America.
Formulated and consolidated an annual operating budget of over $31 million and a capital plan of $3 million.
U.S. ARMY, CAPTAIN, CORPS OF ENGINEERS 1984 1989
Facilities Engineer in Istanbul, Turkey responsible for all areas of a facilities maintenance unit of 95 personnel.
Battalion Adjutant in Bamberg, Germany, responsible for the supervision of the administrative and personnel operations of an engineer battalion.
PROFESSIONAL ACTIVITIES & CERTIFICATIONS
INSTRUCTOR - Certified Management Accountant Certification Test Course Series, Kennesaw State University Continuing Education
CERTIFICATION - Certified Management Accountant (CMA), Institute of Management Accountants, Inc.
CERTIFICATION - Certified Financial Manager (CFM), Institute of Management Accountants, Inc.
CERTIFICATION - Certified Turnaround Professional designate (CTP-D), Turnaround Management Association
MEMBER - Institute of Management Accountants, Inc.
MEMBER - Turnaround Management Association
EDUCATION
UNIVERSITY OF TEXAS AT AUSTIN, Austin, Texas, 1991
MBA, Finance and Accounting, (Graduated Deans Award, Sord Scholar and selected Beta Gamma Sigma and Phi Kappa Phi academic honor societies)
UNITED STATES MILITARY ACADEMY, West Point, New York, 1984
BS, Mechanical Engineering, (Graduated Deans List) |
