Consumer Products Growth and Turnaround President with history of mid-cap success delivering superior revenues, profits and market performance for emerging, distressed, and private equity portfolio companies. Financially-oriented marketing strategist, effective team builder and leader who has launched and profitably grown consumer brands in domestic and global markets including healthcare, medical devices, nutrition, consumer durables and housewares. Reputation for quickly assessing company and market SWOT and successfully adapting Fortune 100 best practices to smaller resource-constrained and non-CPG companies; equally comfortable interacting with board members, investors, customers, and employees in the office, lab, or plant. Fluent in German.
PROFESSIONAL EXPERIENCE
HOUSEWARES START-UP COMPANY 2012 present
President
Investor and key executive of entrepreneurial start-up housewares company launching patented single-serve coffee (Keurig, Nespresso, Dolce Gusto, Verismo) accessory
" Building company from scratch with founder/designer (who is focused on product design, engineering, procurement, contract manufacturing, QA, logistics); responsible for raising capital/managing cash flow, comprehensive business plan, gaining distribution in national retailers (secured distribution at Target, Macys.com, Costco.com, QVC.com, Bonton.com, Kohls.com), all elements of marketing mix, systems; acting as CFO
CONSULTING GROUP, LLC
2007 - 2008, 2010 - Present
President
Consulting practice specializing in consumer products strategy, development and turnaround, focused on private equity portfolio companies either in distressed turnaround or underdeveloped high growth potential. Clients include:
? Startup providing email-based interactive marketing platforms capable of real time determination of attitudes/interests of consumers/voters targeted by behavior or geo/demographics, providing optimized ROI based on consumer/voter response (2010-present)
? Startup internet company leveraging award-winning documentary film about regaining health through fresh fruit/vegetable fasting (over 250K registered users in database since April 2011 launch) (2010-2011)
? Private equity portfolio company; evaluated inevaluated inefficient new product development program, recommended potential savings of $750K annually while significantly reducing development cycle (2008)
? Private equity portfolio company; provided best practices assessment of sales and marketing strategy/personnel in anticipation of Lawn & Garden division sell-off (2008)
? Private equity firm; developed three year business strategy integrating distressed bolt-on brands into existing portfolio company, growing EBITDA to 10%+ (2007)
START-UP COMPANY, INC.
2008 - Present
Board of Directors
Investor and active board member of start-up company holding patented technology to reduce fat content and improve flavor and holding time of deep fried food, both commercially and in-home
? Finalizing strategic business plan for commercial application of technology through patent licenses to national restaurants and branded food purveyors; technology will be consumer branded (e.g., Splenda, NutraSweet, Intel)
SUPERPREMIUM HOUSEWARES COMPANY
2009 - 2010
Chief executive of high growth (+20% p.a.) superpremium line of small kitchen appliances and cookware selling at $140MM+ run rate across US/Canada with double digit EBIT. Grew business above category average while maintaining sheltered distribution strategy (Williams-Sonoma, SurLaTable, Macy?s, Bed Bath & Beyond, The Bay)
? Revamped company website to generate significantly greater DTC sales, capturing both manufacturer and retailer margins; introduced ?Living Manual? online to minimize consumer returns and improve consumer experience
? Negotiated and signed contract with third party logistics firm (3PL) subleasing warehouse and contracting supply chain and logistics, eliminating 26 FTEs and saving $800K p.a. in operating expenses
? Reduced US working capital by -$3MM through liquidation of obsolete/discontinued housewares inventory
? Initiated closure of unprofitable Canada housewares business, estimated to improve Canada EBIT +210 bp
PRIVATE EQUITY CONSUMER DURABLES PORTFOLIO COMPANY
2008 - 2009
Drove brand equity while growing FCF and EBITDA in $1,000MM plumbing products portfolio company; charged with increasing brand equity for large multiple at liquidity event; subsequently given P&L responsibility for $200MM division business with 800 employees through six direct reports
Vice President & General Manager ? Division
? Identified cost and working capital reductions contributing +$1.25MM EBITDA in Monterrey, Mexico factory after two weeks; initiated private label manufacturing negotiations with Home Depot, Lowe?s, ACE, TruValue to bring plant to full capacity
? Led category line review at Home Depot resulting in three incremental SKUs and forecasted +16% sales growth
Chief Marketing Officer
? Developed strategic marketing plan to differentiate company products with key USPs while increasing price
? Implemented CRM promotional and merchandising programs with Home Depot and Lowe?s, establishing metrics and measuring ROMI for $50MM+ trade marketing budget; included online and POS programs
CONSUMER HOUSEWARES COMPANY
2003 ? 2007
President & Chief Executive Officer
Top executive in charge of $200MM+ company marketing cookware,
bakeware, kitchen accessories and small domestic appliances. Recruited by French parent corporation to turn around US business in major decline since 1998. Assumed full operational control January 2004 following probationary period and subsequent departure of North America CEO.
? Halted long-term decline in Net Sales and Operating Profit by
eliminating unprofitable SKUs, incenting Sales on profitability, and
replacing Sales and Marketing management with demonstrated performers; improved 2004 Operating Margin +$600M vs. 2003, despite $23MM decline in Net Sales due to mid-2003 loss of 85% of Wal-Mart listings for 2004 shelf set.
Vs. Prior Year 2003 2004 2005 2006
Net Sales ($MM) -25.1 -23.0 +5.8 +32.8
Operating Profit ($MM) -8.2 +0.6 +2.4 +5.2
Operating Profit at 2003 Exchange Rate ($MM)-8.2 +2.4 +4.2 +7.3
? Personally initiated and led successful August 2006 acquisition of
$110MM business for $36MM in Chapter 11 "363" auction;
successfully integrated systems, supply chain, sales, customer service
and credit/collections.
? Personally negotiated and signed licensing agreement with Chef Emeril
Lagasse for product line forecasted to generate incremental +$20MM annually; 100% acceptance of all SKUs by all retailers presented with Q4 2006 allocations.
? Improved accuracy of corporate financial forecasting from previous
four year average of +20% over actual to -1.2% under actual. Instituted
disciplined approach to managing business including zero-based
budgeting/forecasting and six-quarter planning process for national accounts in
Mass, National Chains, Home Specialty, Department Stores and QVC.
? Secured incremental $1.7MM cookware promotion at Wal-Mart for 2004
following mid-2003 loss of 85% of business for 2004 shelf set; regained
70% of lost business in 2005 shelf re-set, gained an additional +10%
business for 2006 shelf set and an additional +8% business for 2007 shelf
set. Grew 2004 Target category business +68%, secondary business
+189% vs. 2003 by combination of new distribution, expanded shelf facings
and increased secondary display activity, compensating for Wal-Mart
losses. Gained $2MM+ listings in Costco following seven year absence.
? Reduced 2006 working capital by -$18MM vs. 2004 through aggressive
inventory management, improved production planning, and reduction of DSO
from 68 days to 52 days; reduced obsolete inventory from $11.8MM in
December 2003 to $2.5MM in December 2006.
MARKETING GROUP, LLC
2003
President
Retained consulting practice specializing in consumer new products
strategy and development. Revenue clients included:
? OraPro, a start-up company focused on cosmetic and therapeutic oral
care products distributed at retail;
? Roche Diagnostics Corporation, the world leader in diagnostic
healthcare.
MEDICAL DEVICE/SOFTWARE COMPANY
2002
Vice President of Worldwide Sales, Chief Marketing Officer
Senior revenue executive for a consumer healthcare, medical device and
software company with proprietary technology that quickly and
accurately measures resting metabolic rate (calories burned at rest each day).
Recruited to establish consumer and professional brand awareness, build
domestic and international sales organizations, provide world class
business practices to a pre-IPO start-up. Helped lead successful IPO in
July, 2002 during major market downturn, generating $30MM in capital.
? Concluded $20MM+ agreement with HealthSouth providing metabolic
measuring services to consumers at 2000+ facilities.
? Concluded multi-year, $10MM+ distribution agreement with Mead Johnson
to sell devices/refills to hospital dietitians, obstetrician/gynecologists, and oncologists nationally starting January 2003.
? Negotiated $2MM+ agreement with Sam?s Club for exclusive club outlet
distribution of metabolic measurement voucher, customized weight
management software and subscription web-based nutrition service; also
negotiated similar retail distribution with national chain of 5300
health/nutrition stores.
? Reviewed, selected, and hired consumer advertising agency (DDB),
medical advertising agency (1Health), and sales promotion agency (Arc);
directed creative development/production for Q4?02/Q1?03 national consumer
TV/print campaign, medical campaign, as well as training/sales/detailing materials for distribution partner sales organizations.
FORTUNE 100 CONSUMER PRODUCTS COMPANY
1993 - 2001
Kronberg, Germany
Vice President, Power Oral Care
1998 ? 2001
Selected due to outstanding marketing and leadership skills to increase
worldwide profitability of and direct all consumer and dental
strategies for the $650MM+ power oral care SBU, the company's fastest-growing. Directed both ongoing and new product strategies, pricing strategies by geographic region, final product feature determinations, advertising
concept and copy development, public relations, website strategy/content/format and packaging structures/designs. Actively participated in global key account presentations by introducing new products and negotiating
customized promotions. Handled approval for all capital expenditures
($100MM+ in 2001) and coached direct reports on staff development,
negotiation tactics, and sales techniques. Directed Manufacturing and
Logistics/Production Planning on allocations by strategically and
financially prioritized global regions/major markets due to stronger demand than
forecasted. Reported directly to President of Oral Care, who
reported to Chairman/CEO of corporation; negotiated separation with
as a result of five-year expatriate assignment ending.
? Drove 1999 worldwide unit sales increase of +22% on handles and +25%
on refill brushes by promoting the entire power toothbrush business on
a year round basis and gaining substantial distribution in the Oral
Care section of Food, Drug, and Mass Merchandise stores; further grew 2000
worldwide unit sales +20% on handles and +22% on refill brushes by
maintaining consistent "mainstreaming" strategy successfully introduced in
1999, positioning and merchandising power toothbrushes as fast moving
consumer goods instead of small domestic appliances. Constant dollar
net sales in 2001 grew +22.8% vs 2000, resulting in power oral care
surpassing manual as the largest oral care business in company; operating
profit grew +24.6% vs 2000.
? Developed product concepts/positionings and globally launched three
new power toothbrushes simultaneously in 2001, resulting in incremental
net sales growth for Year I forecasted at over $125MM:
- a new top-of-the-line power toothbrush providing consumer benefits beyond cleaning;
- Kids', a children's power toothbrush globally licensed with Disney characters with proprietary features proven to motivate children to brush longer and better than with a manual toothbrush;
- Battery Toothbrush, targeted for distribution into Food/Drug/Mass manual toothbrush sections.
? Globally launched (Q4'98), a premium price/performance power toothbrush, capturing more than 20% worldwide value share and representing over $150MM net sales in the ten largest worldwide markets within the first year using a unique combination of product features and benefits, strong persuasive advertising, solid trade and dental profession support, and appropriate pricing strategies within each market.
? Initiated pricing reduction, packaging redesign, and merchandising
overhaul on the entry-price power toothbrush SKU, growing ACV
distribution from 30% to 80% in lead test market (UK) Food and Drug trade classes.
? Personally established listing of products with Costco, growing from zero to $15MM in two years.
? Successfully directed the strategy implemented in winning a $5.5MM
false advertising lawsuit against Sonicare for claiming that power toothbrushes increase the amount of bacteria in the mouth.
Marketing Director/Acting General Manager, Central Europe ?
Frankfurt, Germany
1997 ? 1998
Chosen to lead 85 employees in the turnaround of a three year decline
in sales for a $60MM business with operations in Germany, Austria, and
Switzerland. Reviewed account specific promotions designed to increase
consumer takeaway of products, coached key sales and marketing managers
on category management and trade marketing, and participated in annual
negotiations with key accounts during which promotional terms and
advertising expenses were determined. Day-to-day work conducted in German.
? Reversed ?15% net sales decline and created a +12% growth,
representing $7MM, by redesigning the entire marketing program to reflect an
emphasis on national advertising and consumer promotion and by tying trade
promotion money to consumer promotions in the form of temporary price
reductions, off shelf displays, account specific promotional offers, or
feature advertising; operating profit increased by +18%.
? Quickly adapted United States retail category management methods to
complex German trade accounts, resulting in distribution gains of +20
points for the lead product line, a +40% increase in secondary retail
display, and generating a value share increase from 11.4% to 15.6%.
Business Director, Mechanical Plaque Removal Division ?
Belmont, California
1994 ? 1997
Brought in to manage three direct reports in global advertising
strategy development and production, new product development, global packaging strategy, capital appropriation, and controllable assets optimization
through SKU consolidation. Conducted extensive consumer marketing
research to determine consumer attitudes and behaviors regarding
toothbrushes and floss. Revised new product development process to maximize long term profitability and personally led developing market team in
launching a new mid priced product in Thailand, Russia, and Poland
subsequently rolled out in East Europe and Asia.
? Secured corporate approval for revised global toothbrush five-year
strategy addressing developed and developing markets worldwide, including
$24MM in new product capital appropriations approved by Corporate Board
of Directors for new toothbrush, the first $5 manual toothbrush
and the most successful new product launch in category history.
? Completely re launched a $150MM business worldwide,
incorporating innovative features into the product that delivered a
forecasted growth to $200MM within the first year.
? Resourcefully developed and rolled out a new line of children?s
toothbrushes which scored in the top 20 percent of all tested BASES concepts
and resulted in 100% acceptance in all national accounts worldwide.
? Recommended and received approval for a successful overhaul of the
Corporate Identity System, including a redesign of graphics across all
product lines to present a coordinated, synergistic look and feel for the
brand.
Director of Marketing, U.S. Consumer Products Division ?
Belmont, California
1993 ? 1994
Recruited to determine, implement and manage marketing strategies for a
$160MM division that generated a dramatic growth in the company?s
United States market share from 19.3% to 25%+. Supervised five direct
reports and a total staff of 17 in brand management, sales promotion, public
relations, and consumer affairs.
? Redirected division marketing expenses to focus on consumer takeaway
rather than incremental trade allowances to stimulate business while
targeting the company?s top 20 accounts with effective promotions.
? Thoroughly reorganized the sales promotion function within the
organization, eliminating inefficiencies and introducing strategic promotion
planning discipline across all marketing and sales departments.
FORTUNE 100 CONSUMER PRODUCTS COMPANY
New Brunswick, New Jersey
1982 ? 1993
Group Product Director, Consumer Division
1989 ? 1993
Promoted to supervise three product directors in development of
national introduction of low calorie tabletop sweetener into retail
and foodservice markets. Measured consumer attitudes toward low calorie
sweeteners to anticipate potential problems associated with launch of a
controversial food ingredient. Developed comprehensive national
marketing plan ready to execute one week after FDA approval. Current Brand
franchise over $450MM annual sales.
? Collaborated with National Sales Manager to create a profitability
driven trade plan that resulted in widespread corporate retail trade
acceptance prior to FDA approval.
? With National Sales Manager, selected/trained national sales
organization of 65 food brokers, 13 broker managers.
Marketing Manager
1985 ? 1989
Fully responsible for developing a low calorie tabletop sweetener
following strategic assessment of market opportunity. Achieved corporate
approval of brand name, product positioning, consumer and healthcare
professional copy development, package design, and preliminary budget.
Made initial sales calls on food and beverage manufacturers, including
Hershey, Ocean Spray, Dr. Pepper/7Up, Coca-Cola, and Smucker's.
Supervised three Assistant Marketing Managers.
Product Director
1984 ? 1985
Responsible for profit and loss for the company?s pediatric cold and
flu businesses. Nationally launched a $35MM product line of children?s
cough/cold products, exceeding the first year?s net sales forecast by
+47% despite a late season start by improving media efficiencies vs
plan, increasing media weights and pediatrician sampling.
Assistant Product Director, New Products
1983 ? 1984
Selected to diversify into new businesses as a result of tampering crisis. Completed strategic summaries of all consumer research of
new product development, including positioning, BASES volumetric
forecasting, pricing, and package design. Recommended OTC development of
antidiarrheal product, now a $100MM+ product line.
Assistant Product Director
1982 ? 1983
Key member of marketing team which brought back largest consumer
business in company from October 1982 cyanide poisonings.
Administered $120MM marketing budget and developed accurate forecasts for
$500MM brand. Responsible for $10MM Hispanic marketing program
re-introducing brand after tampering crisis.
EDUCATION
COLUMBIA UNIVERSITY GRADUATE SCHOOL OF BUSINESS ?
New York, New York
Master of Business Administration in Marketing and Finance - 1982
PURDUE UNIVERSITY SCHOOL OF MANAGEMENT ?
West Lafayette, Indiana
Bachelor of Science in General Management with Specialization in
Marketing and German - 1980
Updated November 2012 |
