SUMMARY
An Energy Sector accounting and finance professional. Has held executive and senior management positions as CFO, VP, Controller, Chief Accounting Officer, General Auditor, Treasurer and Financial Manager, Experience includes employment with corporations engaged in exploration and production, electric power generation, energy marketing, pipelines, gas processing, coal production and gas and electric distribution.
Currently the principal of an advisory business serving business owners, executives and institutional investors. Specializes in developing successful strategies and tactics to meet challenging business and personal goals. Investment strategy focuses on control of risk while employing successful independent investment managers and selectively alternative investments (private equity, hedge funds & commodities).
For over 20 years as a corporate accounting and financial officer with MCN Energy and Michigan Consolidated Gas served the interests of the investors by building organizational value and effectively communicating the strategy, the prospects and the progress. Contributed to overall strategy and tactics as part of the executive leadership team and built successful organizations to accomplish accounting, reporting, financial control, treasury, investor relations, IT and HR functions within complex high growth energy organizations.
Holds an MBA in Finance and BS in Engineering in Applied Mathematics with honors from the University of Michigan with post masters executive leadership development programs from the Center for Creative Leadership and the University of Michigan.
EXPERIENCE AND ACCOMPLISHMENTS
SMITH BARNEY, a Citicorp company, Michigan 10/02 to Present
Financial Advisor
Owner of a wealth advisory and investment consulting business focused on high net worth business owners, corporate executives and institutional investors.
OAK RIVER CONSULTING, Troy, Michigan 8/00 to 10/02
Managing Partner - Provided personal wealth and corporate strategic, financial and M&A consulting for small and medium sized privately held businesses and their owners.
PGK SERVICES / ENGINEERING, INC., Sterling Heights, Michigan 3/99 to 7/00
Vice President, Finance and Planning (CFO)
A privately held group of automotive design engineering, injection molding and parts manufacturing businesses. Developed strategic plan to profitably refocus the businesses. Negotiated new and expanded bank financing. Implemented sale of the manufacturing business and the merger of the engineering and mold businesses. Established improved accounting systems, processes and controls.
MCN ENERGY GROUP, INC., Detroit, Michigan 1991–1999
A diversified $4.5 billion energy company (NYSE – MCN) with interests in oil and gas production, energy marketing, electric power generation, gas pipelines and processing, gas storage, and retail gas distribution. During this period, MCN grew aggressively from $1.5 to $4.5 billion of assets.
Vice President and General Auditor (1996-1999)
Reporting to Chairman and CEO and the Audit Committee of the Board. Requested by CEO and CFO to bring a broader business perspective to Audit as MCN was investing $1 Billion annually.
Vice President, Controller and Chief Accounting Officer (1994-1996)
Controller and Chief Accounting Officer (1991– 1994)
Reporting to the Vice-Chairman and CFO, responsible for all external and SEC financial reporting, accounting research, consolidation, and general accounting and control activities. Leadership team member for Diversified Energy Group and corporate risk committee. President of real estate company.
• As part of the top leadership team, contributed significantly to the development and achievement of strategic plans, business goals and major objectives for the Diversified Energy Group.
• Key member of business development team that identified, evaluated, structured, negotiated and closed over 100 new acquisitions / investments in joint ventures totaling over $1.5 billion over 5 years.
• Designed and implemented accounting, reporting and control systems for 80 new subsidiary companies, which grew from start-up to $850 million of revenues and $1.5 billion in assets.
• Directed creation of MCN’s external financial reports that were consistently rated best in the industry.
• Successfully negotiated solutions to MCN’s exposure to a $70 million troubled real estate project.
• Developed corporate risk policy and implemented a control structure for management of energy price risk and related derivatives to protect prices for several billion dollars of sales.
• Established information technology infrastructure and many new business systems for Diversified Energy Group. As the business grew, recruited a senior executive as CIO of MCN.
• Built successful organizations for accounting, human resources, information technology, insurance and facilities where none existed before.
MICHIGAN CONSOLIDATED GAS COMPANY, Detroit, Michigan 1976 –1991
A Michigan regulated gas utility with assets and revenues of over $1.5 billion that provides natural gas sales, transportation and storage services to over 1,000,000 customers.
Assistant Controller (1986-1991)
Responsible for general accounting and controls for company and its subsidiaries, all external financial reporting (stockholder, SEC & regulatory), accounting research, corporate consolidations, gas purchases, property, payroll and benefits, accounts receivable and accounts payable.
Treasurer of Michigan Consolidated (1981-1985)
Assistant Treasurer of Primark Corp. (Parent Co.) (1981 - 1985)
Reporting to CFO, responsible for investor and bank relations, cash management, SEC and NYSE compliance, cash investments, issuance of long-term securities, and $400 million of pension investments.
• Key member of management team that developed the strategy and then implemented the IPO of Primark through a spin-off. Achieved 100% increase in earnings over the next two years.
• Designed and implemented a comprehensive investor relations program to establish the Primark identity. Contributed to a 100% increase in stock price over two years through targeted marketing.
• Publicly issued over $150 million of securities including bonds, tax exempt notes and stocks.
• Achieved early action to upgrade credit ratings by the four rating agencies.
• Negotiated $240 million of bank credit that reduced costs by 50 basis points.
• Managed a $100 million seasonal cash portfolio that outperformed mutual funds by 40 basis points.
• Achieved consistent first quartile performance against pension industry investment benchmarks.
• Established 401(k) savings plan for salaried employees and one for union employees.
Director, Financial Planning (1978-1981)
Manager, Financial Forecasting (1976-1978)
NORTH AMERICAN VAN LINES, Division Controller 1976
AMERICAN NATURAL RESOURCES, Economic Analyst; Programmer 1972-1975
EDUCATION
MBA (With Honors), Major in Finance, University of Michigan, 1975.
B.Sc., Applied Mathematics (Magna Cum Laude), College of Engineering, University of Michigan,
Concentration in Computer Science, 1972. |
