GENERAL PROFILE
Senior financial and operations executive with over twenty five years of experience in multi-site, international manufacturing and distribution operations. Demonstrated effectiveness in organizational development and team-building. Broad experience in large, small and mid-sized companies in both growth and turnaround environments. Some specific areas of my professional expertise include:
Strategic Planning, Systems Development, Financial Analysis,
Financial Reporting, Investor Relations, Treasury Management,
Operational Improvements, Budgeting, Organizational Change,
Human Resources Management, Mergers & Acquisitions, Joint Ventures,
Infrastructure Development and Risk Management
PROFESSIONAL EXPERIENCE
Professional Services Consulting Firm - 2007 to Present
Partner in executive services firm providing human capital solutions to a diverse range of clients in a wide variety of industries. Offerings include interim C-level executive services, strategic consulting, restructuring assistance and management search and development services. Representative engagements include:
VP, CFO – Mid-sized machining company. Engaged to review inventory reporting issues and served as interim CFO for organization after the CFO resigned abruptly.
Reorganized the Finance function which was primarily being staffed by temporary employees.
Recruited a Director of IT to help with the re-implementation of the company’s ERP system that was not being properly used to either run the operation or prepare financial statements.
Implemented a cost system to facilitate establishment of profitability metrics.
Reduced time required to close books from 60+ days to 10 days in 5 months.
VP, CFO – $15 million machining company
Participated in the due diligence and acquisition process for PE purchase and subsequently established the required processes to achieve GAAP compliance to meet Senior Lender requirements.
Established cash management systems and forecasting tools.
Led the implementation of the ERP system to enable proper valuation of inventory.
Recruited and trained a local Controller to maintain the systems and to lead the Finance and Human Resources functions on a prospective basis.
Aerospace Manufacturing Company - 2005 to 2007
VICE-PRESIDENT, CFO
Provided leadership, direction and financial expertise to business and function heads as well as members of the financial team. Worked with senior managers to develop business strategies that appropriately addressed the objectives of the Company. Led IT function and supported the Director in assessment of business systems to identify and develop plans to remedy deficiencies. Coordinated all Legal and Risk Management activities; engaged and coordinated the work of Risk Management advisors to ensure business risks were identified and efficiently managed, and to streamline risk assessment and renewal process.
Revised debt structure by retiring high cost bonds and negotiating a debt facility with a syndicate of world class lending institutions, expanding the company’s credit to provide needed liquidity for growth and capital investment. Interest costs reduced by 13%
Led teams to successfully renegotiate several high risk and/or marginally profitable customer contracts. Approximately $2 million in margin improvements achieved.
Participated in several kaizen events to facilitate company’s implementation of Lean Manufacturing. A combination of capital application and process change on one project resulted in reduced manufacturing times on two critical, high volume parts from approximately 100 hours each to approximately 12 hours each, while improving lead times from 2 months to 2 weeks.
Graphic Arts Manufacturer and Distributor - 2001 to 2005
Leading manufacturer and distributor of products to automotive OEMs and aftermarket as well as architectural paint manufacturers. Operations in US, Europe and Asia Pacific
SENIOR VICE-PRESIDENT, FINANCE & ADMINISTRATION, CFO
Responsible for all Finance-related functions as well as the Risk Management, Legal and Human Resource functions. Upgraded the finance function and IT system and led organizational change to improve manufacturing reporting and analysis systems. Established the required processes, systems and metrics to support the organization goals. Worked with senior team in pursuing higher levels of operational efficiencies and performance as well as identifying cost reduction opportunities.
Worked with operations management on business process and manufacturing efficiency improvement programs generating approximately $2 million in improved profitability.
Restructured debt to reduce high interest rate funding sources. Reduced overall cost of debt by $950,000 per year.
Negotiated terms with utilities and communications vendors reducing total costs for such services by over 20%.
Reduced time to close and consolidate monthly operating results from over 30 days to 7 business days. Audit costs reduced by 35%.
Automotive Products Manufacturer and Disrtibutor - 2000 to 2001
Manufacturer and distributor of internal engine components to OEM and aftermarket automotive and industrial markets. Manufacturing and distribution operations in 8 states and Canada.
VICE-PRESIDENT, CFO and Director of Distribution
Responsible for all Finance-related functions as well as Distribution and Finished Goods Purchasing functions for all operating divisions. Managed the development of business unit and product line profitability models to support decisions on operations restructuring and to identify areas for profit improvements.
Led project to consolidate viable operations of unprofitable division into profitable division contributing to overall profitability improvement of approximately $700,000 per year.
Streamlined financial reporting for several operations by consolidating functions at corporate headquarters generating annual savings of approximately $200,000.
Improved profits by $400,000 per year by reorganizing the distribution chain to eliminate double handling of goods and orders, eliminating the master warehouse and consolidating master warehouse functions into regional warehouses
Manufacturing Conglomerate - 1995 to 2000
Global manufacturer with thirteen operating divisions generating aggregate annual sales in excess of $600 million, concentrating primarily on custom-engineered products in the Aerospace, Automotive and Industrial markets.
VICE-PRESIDENT, GENERAL MANAGER – CANADIAN OPERATIONS 1999 to 2000
Full P&L responsibility for four manufacturing, fabrication and distribution sites. Directed manufacturing, sales, marketing, customer service, finance and H.R. Drove an acquisition assimilation process including resources and contracts consolidation, and incorporated Lean Manufacturing methodologies in structuring for 100% growth.
VICE-PRESIDENT, CFO 1996 to 1999
Overall responsibility for the Finance-related, Risk Management and Legal functions and coordination of all business development opportunities. Worked as part of the senior team with Divisional General Managers to align individual business priorities with overall goals. Led Divisional Controllers in the establishment of standardized metrics to track progress against agreed goals. Evaluated acquisition recommendations and managed due diligence and post acquisition transition process.
Selected Projects/Highlights:
Completed 10 acquisitions between 1997 and 1999 contributing to 3-year revenue growth of over 100%.
Coordinated program to decrease working capital requirements, principally through more efficient management of inventories. Reductions in excess of $6 million achieved through from use of revised metrics measured on a more frequent basis.
Negotiated Joint Ventures and Partnering Agreements in Japan and India to increase access to the Asian market while generating incremental annual revenues of over $5 million. Formed Japanese subsidiary and established engineering office in Tokyo to more effectively service Japanese customers.
Promoted from previously held position of Corporate Operations Controller (1995 to 1996).
Global Manufacturing Conglomerate - 1985 to 1995
$18 billion global manufacturer of products in the Aerospace, Automotive and Commercial Markets.
REGIONAL MANAGER, INTERNAL AUDIT
Responsible for the review of over 100 manufacturing, sales and distribution operations (with aggregate sales in excess of $6 billion) in the United States, Asia, South America, Mexico and Canada. Full responsibility for recruitment and development of 20 professionals. Worked closely with operations management to enhance and value of audit function by focusing on areas of operating management's concerns, and accommodating requests for special projects and investigations.
Selected Projects/Highlights:
Office recognized 3 consecutive years by Corporate Finance Council as having completed the most value added project completed by Internal Audit.
Participated on a 4-person team to revise audit resource allocation based on risk. Result was improved coverage in high-risk areas and operations while achieving a 10% reduction in world-wide audit staff.
Promoted from two previously held positions in Internal Audit
EDUCATION AND OTHER CREDENTIALS
BS, Accounting, University of Illinois
Registered CPA, Illinois
Member American Institute of Certified Public Accountants |
