CFO • COO • CIO
Consumer Goods, Cosmetics, Healthcare, and Distribution
• Performance-driven executive and change agent with 25+ year’s diverse experience in operations management and implementing leading-edge information systems and financial strategies. Additional experience in marketing, sales and product development.
• Employ best practices to meet ever-changing business needs. Offer a rare level of business acumen and analytical skills leading the planning, analysis, strategy development and execution of solutions that improve finance functions, productivity and EBITDA.
• Strong executive presence and leadership credibility; unwavering commitment to staff mentoring.
• Company experience: Private Label Cosmetics • NMS Labs • Pulsar Time • PepsiCo Wines & Spirits International • PepsiCo Leasing Corporation • Regal Industries, Inc.
AREAS OF EXPERTISE
Strategic Planning & Execution
Information Systems
Sales & Marketing
Product Development
Purchasing & Inventory Control
Six Sigma Green Belt
Venture Partnerships
Contract Negotiations
Banking Relationships
Organizational Restructuring
Budgeting, Cash Flow & Cost Containment
Mergers & Acquisitions
Operations & Distribution Management
Licensing & Royalty Agreements
Selected Benchmarks & Initiatives
• Reorganized NMS Labs’ IS Department and staffing to upgrade network, development and validation groups. Increased productivity, quality and completion of IS projects; reduced laboratory testing turnaround time by 30%.
• Turned around Pulsar Time division suffering from three years of losses in excess of $30M. Won approval of Asian owners to initiate Company’s first worldwide layoff and consolidation of three divisions into one entity. Reduced operating costs by $9M and increased sales during first year by $7M, allowing Company to break even by end of first year.
• Renegotiated product contracts with Chinese and Japanese to reduce costs, maintain quality and improve delivery time. Negotiated with Regal customers to place orders earlier, allowing suppliers the flexibility of producing products during slow periods. Passed along savings to customers resulting in a sales increase of $3.5M.
• Developed due diligence study to support investment banking group's plan, leading to the successful purchase of Regal. Convinced investment group and banks to provide $3M in working capital.
Career Synopsis
PRIVATE LABEL COSMETICS, INC., Fair Lawn, New Jersey • 2008 – Present
Manufacture and production of products for major cosmetic companies in the U.S. such as Estee Lauder, Calvin Klein, Smashbox, and NuSkin.
Chief Financial Officer / Chief Information Officer
Recruited to provide diverse leadership to the Credit & Collections, General Accounting, Budgeting, Purchasing, Production Planning, HR and Employee Benefits, and MIS Departments. Develop and present monthly budget reports to department managers, CEO and the owner, a private equity company. Team with purchasing to secure pricing for raw materials and maintain JIT delivery to ensure optimum production levels. Collaborate with major accounts and work with the customer to set pricing and develop delivery schedules. Partner with consultants to implement lean manufacturing and production projects.
• Developed budget system to include analyzing results of individual manufacturing and production runs. Increased prices and improved manufacturing and production efficiency. Worked with vendors to cut price of raw materials. Implemented lean methodologies and worked with vendors on JIT delivery schedule.
• Developed a manufacturing and production system to ensure timely delivery and cost reduction. Collaborated with material vendors on JIT deliveries and with customers to improve placement of purchase orders. Created a system to track customer orders from time of receipt through delivery. Improved on time deliveries for all shipments from 43% to 93%.
• Reduced overhead and staffing costs by 20% utilizing outside consultants to review processes and lean management strategies.
NMS LABS, Willow Grove, Pennsylvania • 2002 — 2007
Providing professional, state-of-the-art clinical toxicology and forensic toxicology testing services.
Chief Financial Officer / Chief Information Officer
Reporting to the President and CEO / Owner, managed finance, IS, corporate and federal / state taxes, purchasing, facilities, HR, and a $5.4M departmental operating budget. Directed monthly financial reporting annual audit. Managed banking relationships in support of more than $9M in loans. Established segments of SOX and contract controls. Served as a member of the executive committee on strategic planning and Implementation. Provided leadership to six direct reports and a 43-member staff.
• Reversed negative cash flow and default with the bank. Established a hiring and capital expenditure freeze to allow only “must have” expenditures. Improved cash flow by $5M within nine months.
• Reduced operating expenses by $5M. Implemented a hiring discipline and internal controls to reduce operating expenses. Tied strategy to employee bonuses and individual ownership.
• Led three-month project to implement Laboratory Information Management System (LIMS) to manage laboratory, provide final reports to customers and much needed statistical information to the Company.
• Developed consulting relationships to handle highly technical areas of network security and vendor interfaces.
• Established A/R controls and procedures reducing DSO by 10 days and increasing annual cash flow by $2M.
• Implemented security and disaster recovery policies and procedures.
REGAL INDUSTRIES, INC., Philadelphia, Pennsylvania • 1995 — 2002
Kreisler Watches & Watchbands (annual sales of $60M)
Chief Financial Officer / Chief Operations Officer
Selected by an investment banking company’s management team to direct due diligence and subsequently lead the restructuring process and management. Played a key role in stimulating new business development and restructuring of company-wide operations to increase EBITDA. Implemented a new software package for sales analysis, financial reporting, AR / AP, inventory control and shipping / warehousing. Traveled worldwide on behalf of corporation. Provided leadership to five direct reports and a 40-member staff.
• Negotiated licensing and royalty agreements with the Disney Corporation to utilize characters on watchbands.
• Designed and implemented the Company’s first automated annual business planning, sales analysis and vendor managed inventory (VMI) systems.
• Improved systems and business processes for quality control, inventory management and purchasing for Hong Kong and U.S. offices. Renegotiated $8M in inventory contracts with China and Hong Kong manufacturers.
• Implemented new software and utilized employee-training programs to improve communication between the warehouse and office. Efforts reduced order processing and in-house shipping time from 5 days to 2 days.
• Reduced costs 26% by redesigning Regal’s benefit, salary and executive compensation programs.
• Introduced performance-driven incentives linked to revenue increases and cost avoidance programs.
PULSAR TIME, DIVISION of SEIKO CORPORATION of AMERICA, Mahwah, New Jersey • 1980 — 1995
Famous brand Pulsar Watches (annual sales of $125M)
Executive Vice President / Chief Financial Officer (1987 — 1995)
Promoted to resolve long-standing business issues and turn around a division marked with three years of consecutive losses. Created a highly profitable division by strategically combining management and internal operations from three divisions into a single entity. New division experienced unprecedented sales increases, dramatic cost reductions and broke even within 12 months. Oversaw seven direct reports and 124-member staff.
• Improved in-house operations by replacing traditional processes with innovative computer systems to include the development of Pulsar Time’s order entry, product pricing, inventory control, EDI, sales analysis and accounting systems. Division accountable for the Pulsar, JAZ Paris watch brands.
• Reduced inventory by $8M; renegotiated costs and reduced lead-time by 20% with factories in China.
• Cut sales costs 10% while improving total customer satisfaction. Restructured territories, commissions and incentive programs for an 80-member sales team.
• Saved $8M in overhead by combining three watch divisions into a single entity.
• Implemented cutting-edge hand-held computers for sales representatives to reduce order-processing time and improve customer service.
• Researched marketing weaknesses and hired a new advertising and public relations agency.
• Increased operating profits more than 20%; created innovative marketing programs to secure four national accounts.
Vice President of Finance & Administration (1985 — 1987)
Controller (1980— 1985)
Directed financial management and development of financial procedures to encourage growth and cost efficiency. Created and implemented economic policies and the division’s first three-year strategic marketing and financial plan. Ensured compliance to international tax and regulatory requirements. Managed credit agreements, financial reporting, human resources, treasury, facility management and accounting functions.
• Reduced financial and administrative staffs with the implementation of the Company’s first computerized budget and financial reporting system, saving $1M annually.
• Reduced bad debt expenses 30% and days sales outstanding by 15%. Created and directed implementation of credit and collection policies.
• Achieved crucial cost reductions and standardization of inventory flow by implementing inventory control and standard cost reporting system for watches and material parts.
• Increased inventory turnover by 25% and improved profitability with systems that identified slow-moving watch and material parts inventory.
• Managed annual audit and tax return preparation with Price Waterhouse.
Earlier Career
PEPSICO WINES & SPIRITS INTERNATIONAL, Division of PepsiCo, Inc., (Controller & Senior Analyst)
PEPSICO LEASING CORPORATION, Division of PepsiCo, Inc., (Assistant Controller & Staff Accountant)
Education
Master of Business Administration, Finance, Northeastern University - 1976
Bachelor of Business Administration, Accounting, Northeastern University - 1973 |
