CORPORATE CFO and TREASURER - GLOBAL INDUSTRIALS
Experienced in the automotive, machinery, electrical products, diversified industrial, and financial services industries. Served as Corporate CFO and Treasurer in large global organizations with significant experience doing business in Europe, Latin America and Asia. Successfully led finance organization in Brazil during hyperinflation. Speak Portuguese and Chinese.
CAREER HIGHLIGHTS
Arranged funding and set up finance functions for a new $1 billion start-up Canadian automobile company.
Created a new treasury organization for a Fortune 500 farm/construction machinery manufacturer IPO spinoff.
Negotiated acquisition of a $600 million European industrial manufacturer.
Structured and negotiated funding for acquisitions and joint ventures on every continent.
Managed process to prepare a $1 billion privately-held industrial manufacturer for anticipated IPO.
Managed treasury and funding for $3 billion global automotive supplier in Chapter 11 bankruptcy environment.
PROFESSIONAL EXPERIENCE
TOWER AUTOMOTIVE INC., Novi, Michigan 2005 2007
$3 billion global automotive stampings supplier in Chapter 11 bankruptcy.
Vice President & Treasurer
Managed lender relationships and cash management for $725 million debtor-in-possession loan facility.
Reviewed proposals for potential $900 milllion bankruptcy exit debt financing; supported presentations and data requirements for $250 million private equity and hedge fund equity investors.
Executed various loan amendments and extensions for covenant compliance. Extended $155 million Second Lien borrowing facility.
Oversaw $165 million foreign debt management and refinancings in Asia and Europe.
Led insurance and risk management function; reduced $15 million in workers compensation collateral in bankruptcy.
Oversaw sale of excess real estate properties and shutdown process of Canadian aluminum foundry.
TRIMAS CORPORATION, Bloomfield Hills, Michigan 2003 2005
$1 billion private equity owned global diversified industrial manufacturer.
Chief Financial Officer
Managed all financial functions for a highly leveraged non-investment grade global company with 4 divisions and 20 business units.
Completed SEC S-1 filings and Wall Street equity analyst education to prepare the company for future IPO.
Initiated and implemented Sarbanes-Oxley financial controls compliance program.
Oversaw $55 million multi-year restructuring program to consolidate manufacturing capacity.
Strengthened corporate financial staffs and business unit controllers.
METRIS COMPANIES INC. (now part of HSBC GROUP), Minnetonka, Minnesota 1999 - 2003
Publicly held 10th largest MasterCard and Visa credit card issuer.
Chief Financial Officer and Senior Vice President, Business Development
Managed a $550 million SG&A, servicing, and marketing budget, and oversaw strategic planning and M&A diversification efforts.
Personally recruited by CEO during period of dramatic growth.
Instituted asset-liability management program and rigorous liquidity management processes.
Pursued various acquisition and diversification targets in telemarketing, enhancement services, and financial services sectors.
YORK INTERNATIONAL CORP. (now part of JOHNSON CONTROLS, INC.) York, PA 1998 1999
$3.3 billion publicly traded, global air conditioning systems manufacturer.
Vice President & Chief Financial Officer
Led corporate financial management, including planning, reporting, mergers & acquisitions, controllership, treasury, tax, audit and information systems.
Negotiated acquisition of a $600 million Danish industrial refrigeration company. Maintained high S&P/Moodys ratings, despite additional debt leverage.
Increased operating profit margins by over 100 basis points. Met or exceeded Wall Street expectations every quarter.
Strengthened financial management with recruitment of new corporate comptroller, business unit CFOs, general auditor and chief tax officer.
Authorized & supervised initiatives to build profitability, including supply chain management, quality improvement and product line updates.
CASE CORPORATION (now CNH GLOBAL NV), Racine, Wisconsin 1994 1998
$6 billion publicly-traded global manufacturer of agricultural and construction machinery which spun off in 1994 IPO from Tenneco.
Vice President & Treasurer
Responsible for corporate finance, bank relationships & cash management, foreign exchange, pension investments, insurance, secondary IPO offerings, acquisition financing, and strategic planning.
Created and staffed new corporate treasury department following IPO spin-off.
Redesigned original IPO capital structure. Transactions included $2.7 billion in syndicated bank credit commitments, receivable securitizations, senior bonds, off-balance sheet private placement, tax-efficient financing, commercial paper and World Bank/IFC project financing.
Debt ratings improved 4 levels from BB+ to A-.
Structured and negotiated funding for various acquisitions and joint ventures in the U.S., Australia, Austria, Brazil, China, Germany, UK, and Soviet Uzbekistan.
Developed equity road shows for three secondary IPO offerings to sell remaining Tenneco Corp. ownership.
Restructured funding and capitalization of $2 billion Western European operations.
GENERAL MOTORS CORPORATION, Michigan, New York, Canada, Brazil 1979 - 1994
Finance Director-Credit Card Operations, Detroit, MI (1992 1994)
Controllership responsibilities for $150 million annual budget.
Set up finance & administration for new unit to issue successful GM-branded MasterCards and Visa cards with rebate feature to help sell cars.
Analyzed, structured and negotiated transactions with Household International and Toronto Dominion Bank to issue credit cards in U.S. and Canada and share rebate costs with GM.
Negotiated with Avis and MCI to become marketing and financial partners.
Treasurer, GM do Brasil manufacturing operations and Chief Financial Officer of three Brazilian finance companies in Sao Paulo, Brazil (1988 1991)
Managed GM's Brazilian group finances in a hyper-inflationary environment.
Saved $40 million from devaluation losses in $170 million local currency hedging program.
Avoided blocked currency in government economic stabilization program.
Led GM-Renault team to evaluate the economic feasibility of merger or joint venture to build cars in Argentina for export to Brazil to exploit benefits of new free trade zone.
Treasurer, GM-Suzuki Joint Venture, Ingersoll, Ontario, Canada (1987 - 1988)
Set up and staffed new treasury, accounts payables, and payroll functions for new $1 billion revenue joint venture between GM and Suzuki to manufacture Chevrolet-Geo cars for export from Canada to U.S.
Structured and negotiated $600 million in financing with currency and interest rate swaps for construction and start-up of new greenfield Canadian automotive assembly plant.
Director, Worldwide Banking & U.S. Cash Management, New York (1984 - 1987)
Managed global banking relationships, domestic cash movement and credit facilities for parent corporation.
Directed pioneering electronic data interchange EDI project to convert GMs $40 billion in annual supplier payments from paper check to electronic form.
Managed financially unstable automotive part supplier situations from causing GM assembly plant shutdowns.
Manager & Sr. Analyst - Overseas Financing, New York (1981 1984)
Arranged and negotiated financing for GM subsidiaries in Europe, Asia, Middle East, and Latin America.
Executed $175 million leveraged lease and $250 million loan to launch GM/Toyota California joint venture.
Business Planning Analyst, GM Fisher Body Division, Warren, Michigan (1979-1981)
EDUCATION
HARVARD BUSINESS SCHOOL, Boston, MA MBA in Finance, 1979.
MASSACHUSETTS INSTITUTE OF TECHNOLOGY, Cambridge, MA BS Electrical Engineering 1976.
PROFESSIONAL AWARDS
Named to EDI Pioneer Hall of Fame by EDI Forum: Journal of Electronic Commerce for leading General Motors to become first U.S. corporation to pay suppliers electronically.
Recipient of CFO Magazines Reach Award for Best Re-engineered Treasury Operation at Case Corporation. |
