CHIEF FINANCIAL OFFICER
Value mindset Financial Executive with success in aligning strategy and operations with business objectives to maximize a corporation’s competitive advantage. Drive financial results through strategy execution, identifying and integrating growth opportunities, and performance improvement initiatives. Proactively guide leadership in adapting to changing business requirements, market conditions, and emerging technologies to ensure company’s long-term health. Empower leaders and employees to succeed.
Financial Improvements / Acquisition Growth
Delivered $5M+ profit growth / 35% cash flow increase / M&A project integrations with revenues over $200M
Strategic Alignment / Results
Implemented Balanced Scorecard to execute strategy - attain top 25% cost effectiveness in industry; applied Economic Value Added tools (EVA) to improve operating results 15%; enhanced operations and improved service 35%.
CORE COMPETENCIES
*Mergers and Acquisitions • Strategic Planning • Acquisition Integration • Banking Relationships • Risk Analysis
*Cost Reduction Initiatives • Efficiency Improvement • Cash Flow / Capital Management • Insurance Management
*Continuous Process Improvement • Audit, Tax, IT, Legal Management • Internal Controls • Turnarounds
EXECUTIVE PERFORMANCE OVERVIEW
UNITED ROTARY BRUSH CORPORATION—Lenexa, Kansas
2010 to 2011
$37M privately held, multi-location manufacturing and distribution company.
CHIEF FINANCIAL OFFICER
Provided financial and operational guidance in difficult turnaround business environment. Updated financial reporting processes and provided analyses to stakeholders. Provided strategic guidance and established corporate objectives. Developed improved cash flow forecasting and monitoring of key activities. Directed accounting, IT, and HR areas.
PROFIT IMPROVEMENT | TURNAROUND
* Revised strategic plans and created financial models for growth and earnings improvement.
- Net results: Identified growth opportunities and internal optimization improvements.
* Initiated inventory optimization plan to focus on quick turning, higher margin products.
- Net results: Identified inventory reduction of $700,000 to improve inventory turns 20%.
* Instituted Balanced Scorecard to cascade strategy objectives and improve financial and operational results.
- Net results: Aligned goals to drive changes, improve morale, and increase overall results.
* Performed financial and operational analysis and developed metrics to evaluate performance.
- Net results: Positive impact to working capital, cash flow, and operational efficiencies. Saved $100,000.
* Initiated activity based costing project to identify activity and cost driver improvement areas.
- Net results: Increased product cost accuracy to improve pricing structure and customer profitability.
BRODERSON MANUFACTURING CORP.—Lenexa, Kansas
2007 to 2010
$70M privately held multi-location industrial manufacturing and assembly company.
CHIEF FINANCIAL OFFICER
Took over financial leadership during period of economic and strategic change. Restructured financial department and new computer system to provide accurate and timely information. Initiated efficiency and performance improvement activities throughout company to reduce costs and improve cash flow. Created Performance Scorecard and other new reports for Executive and Board of Directors guidance and action. Direct financial accounting, IT, and HR areas developing a new internal support focus.
PROFIT AND OPERATIONAL IMPROVEMENTS
* Revamped strategic plans and developed analytical models for growth opportunities. EBIT improvement 30%.
- Net results: Emphasized strategic alternatives and international growth capabilities. Led to expansion into Mexico, Central and South America, Africa, Philippines, and Asia. Achieved ISO certification.
* Developed financing relationships and increased working capital funding access.
- Net results: Established $7M Lines of Credit.
* Improved cash flow and reduced costs.
- Net results: Received $77,000 in state grant money to offset growth expansion. Reduced accounts receivable and operating expenses to increase cash flow 30%. Reduced audit and tax fees $60,000.
* Initiated R&D tax credit analysis. Established ongoing process for filing annual R&D tax credits.
- Net results: Received federal and state cash refunds of $175,000.
* Identified and implemented inventory control processes to reduce variances and loss.
- Net results: Implemented bar code scanning process to improve accuracy and controls. Saved $200,000.
MARTEC USA, LLC—Kansas City, Missouri
2005 to 2007
U.S. consumer goods operation of German-based privately held billion-dollar concern.
CHIEF EXECUTIVE OFFICER AND PRESIDENT
Transitioned company’s strategic focus into distribution business upon sale of manufacturing operations. Added new consumer products and structured product agreements for U.S. consumer market. Outsourced logistics services to improve efficiency and reduce distribution and overhead costs.
CHIEF FINANCIAL OFFICER AND VP, FINANCE & ADMINISTRATION
Assumed financial control to guide company during turnaround period. Challenged to calm chaotic environment and gain consensus to empower personnel to succeed. Worked with legal counsel to restructure contracts with suppliers and distributors while establishing new domestic corporate structure. International accounting and reporting process redesigned.
Charged with improving overall company performance, positioning enterprise on growth path, strengthening company management and improving organizational structure. Provide strategic and financial oversight across Finance, IT, HR and Warehouse departments, managing ten employees. Implement new systems, procedures, internal controls and IT improvements; assess risk and mitigate loss; analyze operations to reduce costs.
KEY FINANCIAL, OPERATIONAL & LEGAL IMPACTS
* Identified revenue opportunity to sell dormant product license. Negotiated product license sale agreement.
- Net results: Increased revenue $300,000 from sale of product license.
* Implemented new computerized accounting system and train / cross-train personnel.
- Net results: Boosted performance, curbed data-entry errors and heightened reporting capabilities.
* Eliminated inaccuracies in financial records to achieve accurate reporting results.
- Net results: Completed year-end financial close and audit within corporate deadline and no adjustments.
* Completed legal structure reorganization into new company with 2 party holding companies. Reviewed and approved legal agreements with attorneys.
* Analyzed internal business operations and identified areas for improvement.
- Net results: Reduced operating expenses $100,000 while improving business performance.
BIMEDA, INC.—Kansas City, Missouri (Company relocated to Chicago)
2003 to 2005
$40M domestic manufacturing and distribution subsidiary of privately held international pharmaceutical concern.
CHIEF FINANCIAL OFFICER
Engaged to oversee financial, accounting, IT, risk management, M&A, customer service, legal and banking relations, strategic guidance, and manage period of corporate transition / turnaround to position company for national growth. Guided company P&L, ensured proper reporting and managed eight employees in Finance, IT, HR, Customer Service and Warehouse departments. Developed international financial reporting process.
Improved overall company performance, cash flow position, financial integrity, strategic forecasting / planning and customer service level; implemented series of new systems, procedures, internal controls and IT improvements; and, reduced risk while improving product cost structure. Integrated $20M acquisition.
CONTINUOUS IMPROVEMENT INITIATIVES | OPERATIONAL ENHANCEMENTS
* Identified and implemented continuous improvement initiatives and reengineered cost structure and processes to respond and adapt quickly to changing needs.
- Net results: Reduced operating expenses $250,000 (15%) and integrated Canadian operation into US to create North American financial and operational structure.
* Established inventory controls, thwarted data flow bottlenecks and built rapport with warehouse personnel.
- Net results: Slashed shipping and receiving errors 95% and reduced write-offs by $150,000.
* Revamped risk management program to garner new risk management strategy.
- Net results: Saved $250,000 and enhanced overall effectiveness of global insurance programs.
* Bolstered planning, budgeting and forecasting processes to increase accuracy while reducing preparation time.
- Net results: Achieved accurate cash flow forecasting and initiated process to improve collections 35%.
* Implemented new internal controls and governance process.
- Net results: Prepared company for Sarbanes-Oxley 404 compliance.
AQUILA, INC.—Kansas City, Missouri
1998 to 2002
$2.3B energy services division of $40B Fortune 100, publicly held international energy company.
FINANCE DIRECTOR / DIRECTOR, PLANNING & PERFORMANCE
Executed series of performance improvement initiatives and performance management activities (i.e., Balanced Scorecard, benchmarking, variance reviews, ROI / financial / operational analysis, etc.). Implemented strategic plan and selected to Corporate Strategic Planning Team. Led special projects and secured cross-departmental buy-in to achieve objectives. Performed M&A activities and developed integration strategies; reviewed, identified and improved risk management processes.
Key member of 3-person “right-hand” group reporting to Business Unit President. Project lead on cross-functional business unit initiatives designed to improve efficiency and effectiveness throughout all levels of the company featuring matrix organizational structure.
STRATEGY IMPLEMENTATION, ALIGNMENT & PLANNING | PERFORMANCE IMPROVEMENT
* Partnered corporate strategic growth with employee goals via strategic planning and systems improvements.
* Drove process and cultural changes in functions, invoking change management insight and capability.
* Innovated Balanced Scorecard / dashboard tool and on-line scorecard tracking systems to align strategy throughout company and track business drivers and financial results.
- Net results: Secured Top-25% industry rank for cost-effectiveness.
* Developed key performance metrics to improve financial and operational effectiveness across product lines.
- Net results: Increased customer satisfaction 2% and product / delivery reliability 35%.
* M&A project team assistance evaluating growth opportunities.
- Net results: Acquisition and integration of companies with revenue of $100M.
* Improved cost effectiveness.
- Net results: Enhanced analysis and internal controls to reduce operating expenses $200,000.
EARLY CAREER
PRIMEX TECHNOLOGIES, INC.—Marion, Illinois (Company sold)
1997 to 1998
$130M diversified Defense industry manufacturing unit of $500M, publicly held high-tech concern.
FINANCE DIRECTOR / BUSINESS UNIT CHIEF FINANCIAL OFFICER
ENGINEERED PRODUCTS, INC.—St. Louis, Missouri
1995 to 1997
$40M privately held 6-division plastics manufacturer of consumer and industrial goods.
CHIEF FINANCIAL OFFICER / CORPORATE CONTROLLER
GENERAL X-RAY, INC.—St. Louis, Missouri (Company sold)
1993 to 1995
$45M privately held medical distribution and service company with 8 locations.
CHIEF FINANCIAL OFFICER / CONTROLLER
ELF ASPHALT, INC.—St. Louis, Missouri (Company sold)
1986 to 1993
$200M French-owned manufacturing company with 50 locations nationwide.
FINANCE MANAGER
AMERADA HESS CORPORATION—Tulsa, Oklahoma
1982 to 1986
Publicly held oil and gas concern.
INTERNAL AUDITOR
DELOITTE—Kansas City, Missouri
1981 to 1982
Big 4 CPA firm.
AUDITOR
EDUCATION
Bachelor of Business Administration (B.B.A.) • Accounting / Finance • 1981
SOUTHWESTERN COLLEGE, Winfield, Kansas, Graduated Magna cum Laude
PROFESSIONAL STANDING & AFFILIATIONS
Certified Public Accountant (CPA)
FINANCIAL EXECUTIVES INTERNATIONAL (FEI) • ASSOCIATION FOR CORPORATE GROWTH (ACG)
AMERICAN INSTITUTE OF CPAS (AICPA) • KANSAS SOCIETY OF CPAS • MISSOURI SOCIETY OF CPAS
NOMINATED FOR KANSAS CITY BUSINESS JOURNAL PRIVATE COMPANY CFO OF THE YEAR AWARD
CIVIC & COMMUNITY INVOLVEMENTS
Former Assistant Scoutmaster / BOY SCOUTS OF AMERICA • Volunteer / KC MEN’S RESCUE MISSION
Former Board Member / FOUNDATION WORKSHOP, INC. (sheltered workshop for adults with developmental disabilities) |
