CFO / SENIOR FINANCE & ADMINISTRATION EXECUTIVE
18+ Years’ CFO, Corporate Finance and Administration Experience
7+ Years’ Public Accounting and Auditing Experience (Big 4)
Diversified Product and Service Companies / Fortune 500, Public, and Pre-IPO
Dynamic Chief Financial Officer with multi-industry experience (business services, manufacturing, technology, telecommunications, energy, healthcare, waste disposal, engineering and construction) leading and strengthening the corporate finance and operations functions for public and private companies with up to $600 million in revenues. Demonstrated ability to make near and long-term improvements in strategic direction, operating and administrative efficiency, cash flow, cost reduction, internal/external reporting, shareholder value and capital structure. In-depth experience across all corporate finance, accounting, IT, tax, risk management, administration and investor relations functions. Scope of responsibility has extended beyond finance to include operations, legal, administration, HR, and IT. Manages very well during periods of significant growth. CPA.
Financial and General Management Strengths:
Corporate Finance, Treasury & Accounting
Taxation, Legal and Risk Management
Multi-Site Operations Management
Strategic Planning & Implementation
Corporate Administration & Governance
Financing / Capital Raising / IPO
Mergers / Acquisitions / Divestitures
SEC Reporting & Compliance
Investor Relations
Internal Systems & Controls / SOX Compliance
PROFESSIONAL EXPERIENCE
Houston, TX 2003 to Present
($80 million NASDAQ-listed leading provider of cost-effective disposal solutions for medical and pharmaceutical waste generated outside the hospital setting)
Executive Vice President , Chief Financial Officer and Business Development
Full responsibility for the leadership and management of the corporate finance and administration functions for this public company. Recruited by Board of Directors to, (i) diversify and grow the customer base, (ii) improve operating and administrative infrastructure, (iii) improve Company profitability and financial performance, (iv) launch investor relations and public visibility program and (v) implement new integrated operations and accounting systems. Direct accounting, tax, legal, risk management, IT, human resources, investor relations, treasury, banking, Sarbanes-Oxley (“SOX”) and SEC compliance functions. Recently completed the product development, pricing and negotiation of a “company-changing” contract with the U.S. Government which more than tripled annual revenue, dramatically increased growth and profitability while also facilitating NASDAQ listing.
Met all objectives to date, including:
• Recently completed the product development, pricing and negotiation of a “company-changing” contract with the U.S. Government which more than tripled the annual revenue and dramatically increased growth and profitability;
• Increased new market revenue from 10% in 2003 to 80% of total revenue in 2009;
• Improvement in gross margins from mid-30% level to 59%+;
• Operating margins from breakeven to 33%+;
• Led the launching of two new operating and accounting system conversions over five years necessary to facilitate growth;
• Managed the working capital needs for the Company’s rapid growth through a favorably negotiated line of credit with JPMorgan Chase during the global “credit crisis”;
• Effectively moved the Company’s public listing from the OTC Bulletin Board to the NASDAQ; and
• Launched a successful investor relations program resulting in significantly increased trading volume and stock price (6 times).
(sold in 2004) – San Antonio, TX 1999 to 2004
($200 million NASDAQ-listed telecommunications and technology company. Divisions included telecommunications billing, electronic bill presentment and payment, telecommunications software, semiconductor testing equipment, e-finance software and services.)
Note: Managed finance and administration for two public companies concurrently from March 2003 to June 2004. This position was concurrent with CFO position for (see above).
Executive Vice President / Chief Financial Officer
Senior finance and administration executive recruited to lead aggressive transformation from a telecommunications billing and software company to a diversified technology provider. Broad scope of responsibility included accounting, tax, budgeting, financial planning and analysis, treasury, banking, mergers and acquisitions, investor relations, HR, legal, risk management, corporate governance, and administration.
Challenge: Meet changing market dynamics by transforming company from a telecommunications billing, software, and call center service provider to a diversified technology company.
Results: Led business development, corporate finance, negotiation and deal structuring efforts for 7 acquisitions to date in diverse lines of business amounting to approximately $100 million… New lines of business are currently delivering a 50% revenue growth rate… Successfully divested 3 operating groups despite a declining industry (telecommunications billing services, software, and call center businesses) representing $170 million in revenue… Structured transactions to generate significant growth capital for new business opportunities and an additional $6.6 million in cash from tax refunds.
Challenge: Meet or exceed ever-increasing standards for accuracy and clarity in financial reporting and compliance.
Results: Took initiative to implement policies and procedures that fully comply with new corporate governance rules including those enacted by Sarbanes-Oxley, SEC, NASDAQ, and FASB. Developed corporate governance analyses and action plan documents that have been adopted by 3 public companies to ensure compliance.
Houston, TX 1997 to 1999
(A leading provider of legal support and staffing services for law firms, corporations and insurance companies)
Executive Vice President / Chief Financial Officer
Recruited by majority shareholder to plan, organize and develop effective and efficient finance, accounting, and administration functions and complete a stalled IPO for the $70 million company and its 14 divisions with offices in 5 states. Managed a staff of 18.
Challenge: Revive a stalled IPO.
Results: Rapidly gained confidence of underwriters (NationsBank Montgomery Securities, H&Q, J.C. Bradford), research analysts and bankers… Cleared SEC review process winning all significant accounting issue raised… Negotiated a $30 million credit facility… Redirected efforts toward raising private equity funds for the highly leveraged organization when planned IPO was delayed due to volatile capital markets.
Challenge: Improve efficiencies of the financial and administrative functions.
Results: Orchestrated successful integration of the 14 founding companies… Reorganized all financial and administrative departments… Developed operational reporting systems necessary to support growth… Centralized all “back office” administrative functions previously performed at the operating level… Completed successful conversion of operations and accounting technology systems.
(sold in 1997) – Houston, TX 1994 to 1997
($300 million, NASDAQ-listed specialty services and products company. Lines of business included maintenance services for energy and petrochemical markets; engineering procurement and construction; specialty environmental services and products. Sold to consolidator in July 1997)
Senior Vice President – Finance & Administration / Chief Financial Officer
Senior Finance and Administration executive for the company and its subsidiaries with 15+ offices in the U.S., South America and the UK. Financial scope of responsibility included accounting, budgeting, internal/external reporting, financial planning, M&A, tax, banking, treasury, investor relations, and risk management. Administration accountability included HR (3,000 employees), legal, and corporate governance. Supervised a staff of 110 through 10 direct reports.
Challenge: Obtain the required financing within 3 weeks of hire to retain an $83 million contract award that was in jeopardy.
Results: Structured, negotiated, and completed financing for the $83 million international project while company was generating an operating loss… Obtained $35 million in performance, advance payment, and commercial letters of credit under new banking relationship… Negotiated $56 million LOC securing fee payment to Serv-Tech on international project and secured $50 million in political risk insurance.
Challenge: Enhance competitive position in a rapidly changing and consolidating industry by transitioning corporation from a loose organization of 20 entrepreneurial companies into an integrated provider of specialty services and products worldwide.
Results: Won Board of Directors’ approval and managed an aggressive merger process… Enhanced shareholder value 325%.
Challenge: Significantly reduce operating costs and improve asset management without sacrificing service quality.
Results: Spearheaded aggressive cost reduction initiatives that reduced overhead from 19% of revenues to 14% (a $5+ million savings)… Led comprehensive evaluation of operating units and assets deployed throughout the corporation, resulting in a $12 million balance sheet restructuring.
Challenge: Appointed by Board of Directors to co-lead the organization along with Chairman in addition to CFO responsibilities following CEO’s resignation in 1996.
Results: Credited with significant contribution to company’s record quarterly revenues ($70 million) and earnings (.25 per share) in first quarter of 1997 (prior to sale and reorganization).
Houston, TX 1990 to 1994
(Fortune 500, NYSE-listed diversified company with subsidiaries in design, engineering & construction; independent power; cogeneration; insurance; and pollution control segments)
Corporate Controller
Recruited by former audit client to direct all controllership functions for the $600 million corporation and its subsidiaries. Supervised 3 Group Controllers and an 83-member finance, accounting and administrative staff in 3 decentralized accounting groups. Led corporate accounting, tax, budgeting, financial and business planning, mergers and acquisitions, internal/external reporting, SEC filings and compliance, and internal/external audit affairs.
Challenge: Build a top-flight, cost-efficient corporate finance and accounting function.
Results: Established a first-class finance function by challenging old paradigms and making sweeping changes impacting staff, technology and processes… Reduced IT expense 70% ($2.2 million) by co-managing (with IT Director) accounting system conversion from mainframe to client server environment with Oracle software… Cut payroll costs 50% by outsourcing the payroll function.
Challenge: Spearhead corporate growth and development.
Results: Evaluated, structured and negotiated numerous acquisitions, including a $75 million North American engineering and construction firm and a $20 million Pacific Rim engineering services company… Justified to Board of Directors divestiture of the CRSS group of insurance businesses and led entire divestiture process…. Generated $8.9 million in cash to fund expanding businesses.
Big 4 International Public Accounting Firm - Houston, Tx 1983 to 1990
Earlier public accounting and auditing experience as an Auditor and Senior Audit Manager with KPMG. Led audits for companies with $15 million to $5 billion in annual revenues in energy, engineering and construction, business services, media, and biotechnology industries (1983 to 1990).
EDUCATION
UNIVERSITY OF HOUSTON – Houston, TX
Bachelor of Business Administration, Accounting (1982)
Certified Public Accountant • Passed all parts on first attempt
PROFESSIONAL AFFILIATIONS
American Institute of Certified Public Accountants (AICPA), Financial Executives Institute (FEI) |
