Professional Profile
Division CFO VP of Finance & Administration Global Business Unit Controller
Profit-driven senior financial business partner. Leads financial and operational analyses supporting P&L executives efforts to improve results. Develops and assures implementation of business controls required to improve performance. Leads cross-functional teams to understand and solve operational problems while maintaining the big picture perspective. Special ability to drive improvements while bridging communication between business leaders and corporate finance. Proven record of delivering results in rapidly changing environments.
Core Competencies
Strategic Planning Financial Controls New Product Evaluation
Profitability Analysis Budgeting/Forecasting Capital Management
Inventory Management Cost Reduction Initiatives Organizational Planning
Professional Experience
New England Pottery & GKI Bethlehem Lighting, Foxborough, MA (relocated to Atlanta)
NEP/GKI is a $125 million subsidiary of Central Garden & Pet Company, a $1.7B leading national distributor of lawn, garden, and pet supply products. NEP/GKI designs and sources planters, decorative lighting, and pre-lit foliage and distributes to national retailers and regional garden centers.
VP Finance & Administration (2006 to Dec. 2009)
Reported to business unit President. Improved profitability and reduced working capital; provided leadership support, financial guidance and strategic input to President; led forecasting and budgeting processes; and managed 35 people in the Accounting, IT, HR, Customer Service and Import functions.
Increased profitability of the Pottery business over 500%. Analyzed product and customer profitability resulting in pricing changes, elimination of unprofitable products, and supply chain cost reductions. Justified price increases of 10% to 14% to major national customers. Reduced operating costs 37% by consolidating distribution centers and rationalizing sales, marketing, and administrative functions.
Doubled inventory turns by managing the timing and size of purchases, eliminating under-performing products, and aggressively monetizing excess and obsolete inventory.
Strengthened financial controls by implementing a detailed inventory valuation review process, tighter credit policies, and a formal expense and inventory purchasing authorization system.
Reduced Accounts Receivable DSO by 10 days and significantly reduced P&L impact of customer deductions.
American Power Conversion Corporation, Billerica, MA (company purchased by Schneider Electric)
$2B provider of power protection solutions to data center operations, networks and desktop systems
Director of Finance, Enterprise Systems & Business Networks (2006)
Reported to business unit VP. Position created to provide financial guidance to this $1.3 billion worldwide business. Charged with creating business unit P&L statements and process improvement initiatives to drive profitability and an optimized business strategy.
Identified inefficiencies in business unit expenses and led change effort to streamline costs by 5%.
Initiated improvements in budgeting process aimed at increasing accountability throughout the organization.
Polaroid Corporation, Waltham, MA 1977 - 2005
$2B global developer, manufacturer, and marketer of instant and digital imaging products
Division VP & Sr. Controller, Global Operations (1998 - 2005)
Reported to VP, Global Operations and VP, Corporate Controller. Led strategic planning, annual budgeting, and forecasting processes. Directed worldwide financial team ranging from 75 to 125 people supporting manufacturing, purchasing, planning, and logistics operations in the US, Mexico, Europe and China with combined budgets up to $1 billion. Managed the process to budget, justify and allocate company-wide capital expenditures. Led the annual talent review, succession planning, and performance evaluation processes for the finance organization.
During the precipitous decline in revenue and filing of Chapter 11, a key participant in taking a $1.8 billion company to a profitable $750 million firm with 50% margins in two years. Implemented initiatives that offset the cash impact of over $175 million in operating losses. Reduced inventory by 70% ($350M) over two-year period, and managed capital expenditures at less than 25% of previous levels. Reduced worldwide manufacturing capacity by more than 50%. Communicated operations financial strategy through the Reorganization Plan and third party due diligence.
Negotiated reporting requirements and assured covenant compliance with two separate loan facilities. Developed new tools necessary to track and forecast
international cash flows between two legal entities and initiated actions to remain in compliance.
Financial lead on executive team developing 3-year plan to generate $800 million in revenues and deliver 8% profit while eliminating product lines. Scheduled plant closings and assured product delivery into distribution system, while managing raw materials acquisition. Efforts extended organizational life by three years.
Conducted detailed on-site financial reviews of two plants vying for survival. Developed a plan to consolidate the operations resulting in $5M of annual fixed cost savings.
Improved worldwide inventory control and valuation through analysis of slow-moving products and rigorous review of reserves.
Achieved Sarbanes-Oxley compliance in only 8 months.
Evaluated and priced contract manufacturing opportunities that improved asset utilization and added $20M in annual sales.
Maintained controls and productivity while downsizing the Global Operations finance organization over 40% in three years after the implementation of SAP.
Controller-Financial Planning & Analysis, Commercial Business Unit (1997 - 1998)
Directed consolidation and analysis of budgets, forecasts, and actual results for $900M business unit. Provided financial guidance to the Executive VP, established financial targets, and evaluated new product plans. Directed financial analysis supporting bids for identification programs.
Developed business segment reporting structures and key metric tracking for corporate review.
Controller, Consumer Products Manufacturing (1995 - 1997)
Held responsibility for cost accounting, budgeting, forecasting, and analysis for consumer camera and film assembly factories in the US, Europe, and China. Managed 40-person world-wide financial team.
Coordinated cost reduction initiatives that yielded over 6% in cost improvements annually.
Implemented fixed/variable analysis to improve sourcing decisions and product profitability.
Associate Controller, Strategic Planning & New Product Development (1993 - 1995)
Consolidated and analyzed corporate long-range plans. Integrated strategic marketing plans and financial goals. Led financial analysis of new product programs. Senior finance member on corporate competitive intelligence team.
Other Positions at Polaroid
Held various financial positions with increasing responsibility supporting manufacturing, marketing and corporate organizations. Key participant in sale of two business units. Designed and implemented first corporate on-line financial management reporting system.
Associate Controller, Business Imaging (1990 - 1993)
Sr. Financial Manager, Diversified Businesses (1987 - 1990)
Financial Manager, Corporate Financial Planning & Analysis (1983 - 1987)
Sr. Financial Analyst, Financial Analyst, Jr. Financial Analyst - Film Mfg. Division (1977 - 1983)
Trustee, Polaroid U.K. Pension Fund (2004 - 2005)
Education
MBA, Boston College, 1977
BA, Economics, Newton College of the Sacred Heart, 1975 |
