Finance professional with 20 years experience in all areas of accounting and finance including general and cost accounting, financial reporting, budgeting and forecasting, financial analysis, internal controls, cash management, and contract negotiation and management. Industry experience includes manufacturing and supply chain operations.
PROFESSIONAL EXPERIENCE
Aerisyn, LLC, Chattanooga, TN May 2008-Current
Chief Financial Officer
Aerisyn is a $40 million private equity backed manufacturer of wind towers for the emerging US wind industry. Joined Aerisyn to assist ownership group with sale of the company. Working with Chief Executive Officer, engaged investment banking firm, developed financial presentation package, met with several potential acquirers, and obtained letters of intent. Due diligence process completed and transaction closed August 24th. Currently providing 60 90 day transition period to new owners.
Also worked with CEO to negotiate and complete customer contracts worth $72 million for 2009/2010. With these contracts, Aerisyn has improved from a $4.6 million operating loss in 2008 to a $900 thousand operating profit year-to-date 2009.
American Power Conversion (a subsidiary of Schneider Electric), Austin, TX April 2006-April 2008
Director of Finance, Global Supply Chain
American Power Conversion (APC) is a $2.7 billion manufacturer of uninterruptible power supplies and power distribution units. Recruited to APC by the Vice President, Global Supply Chain who was my manager at a former company. APC was acquired by Schneider Electric in February 2007.
Responsible for worldwide supply chain financial issues including raw materials warehousing, transportation, and finished goods distribution costs resulting in $250 million annual spend. Provided financial and contract support for Global Supply Chain team. Accomplishments included:
Developed supply chain financial reporting package including analysis of company-wide gross margin, freight and distribution expenses, and inventory. Analysis helped drive actions that reduced total supply chain expenses from 11.9% of revenue to 8.7%. Presented package at quarterly supply chain operations reviews and town hall meetings.
Worked with Director of Global Transportation to develop and implement management approval process for airfreight. Approval process assisted in reduction in airfreight expense from $39.3 million in 2005 to $12.5 million in 2006 and $7.0 million in 2007.
Developed strategic sourcing model comparing total product and supply chain cost between current Asia manufacturing operations versus North America and European manufacturing alternatives (in-region sourcing versus low cost region analysis).
Prepared strategic analysis of North America distribution network resulting in plan to reduce from six finished goods distribution centers to two with annual cost savings of $4 million and a $15 million reduction in North America finished goods inventory.
Developed and negotiated new fixed/variable pricing structure with current North America logistics provider resulting in annual savings of $4 million.
Participated on three person team to establish request for proposal for the North America distribution network. Developed pricing structure used for the proposals, analyzed results, and developed recommendation presentation for executive management.
Lexmark International, Inc., Lexington, KY March 2004-April 2006
Finance Consultant
Lexmark is a $5.2 billion manufacturer of home and office printers. Served as a Finance Consultant for the Global Supply Chain Division. Provided financial analysis and support to the North America Operations and Supply Base Management organizations. Accomplishments included:
Prepared strategic business case analyzing inbound freight, assembly, and distribution costs between Mexico and US locations. Presented results to executive management including Division President. Project resulted in relocation of final stage assembly operations to US location with $15 million cost savings over three-year period.
Led cross-functional project team to redefine Supplier Managed Inventory (SMI) process for the company. Worked directly with Supply Base Management, Corporate Legal and Corporate Finance to strengthen Lexmarks position relative to SMI. Resulted in $40 million inventory reduction by getting Lexmarks largest supplier on SMI program.
Led cross-functional team to develop new pricing between Lexmark and third party logistics (3PL) provider. Analysis included time studies of warehouse operations, understanding of 3PL costs and financial results and negotiating updated logistics rates directly with 3PL.
Led Sarbanes Oxley reviews of final stage assembly and logistics providers. Developed detailed audit plan, scheduled site visits, performed process reviews and controls testing of all key controls and reported results to Corporate Accounting and management.
Applied Materials, Inc., Louisville, KY October 2002-March 2004
Global Spares Logistics Controller
Applied Materials is an $8.0 billion manufacturer of semiconductor capital equipment. Responsibilities included third party logistics contract review and management, financial and operational controls, costs, and inventory issues for three global distribution centers located in Europe, Asia and North America. Accomplishments included:
Established productivity metrics resulting in the reduction of North America distribution center headcount from 283 to 146 in nine months with annual savings of $8 million.
Developed transaction based pricing model to allow contract change from cost plus to transaction pricing. Renegotiated contract rates resulting in $1.2 million annual savings.
Partnered with Director of North America Logistics to develop a request for proposal sent to four third party logistics providers. Evaluated responses to determine logistics provider and location of North America distribution center.
Participated in weekly operations reviews of North America distribution center and quarterly reviews of the European and Asian distribution centers.
Vogt Valve Company, Jeffersonville, IN October 2001-October 2002
Director of Finance
Vogt Valve was a $40 million wholly owned subsidiary of Invensys Corporation manufacturing industrial valves. In May 2002, the company was acquired by Flowserve Corporation and was subsequently closed in December 2002. Responsibilities included all accounting and finance functions including financial reporting, budgeting and forecasting, general ledger, cost and inventory accounting, accounts receivable and payable, credit policy, and cash collections and disbursements. Accomplishments included:
Led company through due diligence process related to the Flowserve Corporation acquisition.
Reduced aged accounts receivable balance by $1.3 million.
Preparation of annual budget and monthly forecasts.
Coordinated year-end external audit process.
Applied Materials, Inc., Austin, TX November 1997-April 2001
Division Operations Controller
Responsible for all manufacturing financial issues including inventory, product costs, overhead spending, manufacturing variances, and other gross margin impacts. Accomplishments included:
Preparation of annual operating plan and quarterly forecasts.
Presentation of financial results to senior management at quarterly operations reviews.
Developed monthly inventory and manufacturing variance reporting package.
Coordination of quarterly excess and obsolete inventory process.
Served as physical inventory coordinator.
Western Reserve Products, Inc., Gallatin, TN May 1996-November 1997
Corporate Controller
Served as Corporate Controller for this $80 million privately-held manufacturing and distribution
company with three manufacturing facilities and six distribution warehouses. Responsible for all accounting functions including financial reporting, general ledger, accounts receivable and payable, and cost accounting. Accomplishments included:
Worked directly with Chief Financial Officer, outside attorneys and audit firms to develop bankruptcy reorganization plan that led to sale and restructuring of the company.
Developed and prepared weekly profit and loss summary by location.
Prepared debt covenant compliance and borrowing base certificates.
Reduced monthly general ledger close process from an average of ten days to four days.
Clark Material Handling Company, Lexington, KY June 1994-May 1996
Controller
Clark is a $500 million manufacturer of industrial lift trucks. Joined the company as Corporate Accounting and Consolidations Manager and was then promoted to Controller. Responsible for general and cost accounting, financial reporting, planning, budgeting and analysis.
International Business Machines Corporation, Austin, TX June 1991-June 1994
Senior Associate Financial Analyst
Served as financial analyst for IBMs Personal Computer Company. Responsible for tracking, analyzing and presenting monthly overhead spending, developing manufacturing overhead rates, and business case preparation and presentation.
Baird, Kurtz, and Dobson, Certified Public Accountants, Bowling Green, KY June 1988-May 1990
Staff Accountant
Planned and performed audit engagements of companies in the manufacturing and banking industries plus universities and non-profit organizations. Obtained Certified Public Accountant designation in 1990, currently inactive.
EDUCATION
University of Notre Dame Graduate School of Business, Notre Dame, IN
Master of Business Administration in Finance, with high honors, May 1991
Western Kentucky University, Bowling Green, KY
Bachelor of Science in Accounting, magna cum laude, May 1988 |
