PRESIDENT / COO / EVP - OPERATIONS
Performance-driven business executive with a proven track record of knowing what it takes to build a solid team, provide strategic vision, and implement strategies that have taken corporations to unprecedented revenue, profit and market performance.
* Successful track record of leading small, medium and large companies, intensely driving organizational change, leveraging technology innovation, and capitalizing market opportunities to deliver value-added solutions for key customers worldwide.
* Survived and thrived through four consecutive mergers assuming expanded responsibilities. Successfully navigated multiple acquisitions and transfer of operations from US to international manufacturing to build scale, lower costs, and create competitive advantages.
* Exceptional team building; communication and hands-on leadership of multinational teams and organizations.
DDK CONSULTING
Founder / Consultant
2010 to Present; 2002 to 2004
Founded DDK Consulting to provide M&A advisory services to private equity companies, applying extensive financial and operations background in evaluating potential strategic and financial targets.
QUALITOR, INC.
President, BLD Products, Ltd.
President, Sloan Transportation Products
2006 - 2009
Qualitor, Inc. is a $250 million leading manufacturer and distributor of aftermarket parts for the automotive and medium to heavy-duty trade industry.
Recruited by the Chairman and private equity investor to lead BLD Products Ltd. (a manufacturer of engine and transmission management replacement components for light vehicles globally) and Sloan Transportation Products (a manufacturer and distributor of air and electrical delivery components and engine parts to the heavy-duty aftermarket).
* Improved EBITDA at BLD despite a sales decline of 35% while improving working capital contributing to a 73% improvement in NCF after interest, in a turbulent economic environment.
* Reduced Sloan break-even point by 45% by implementing aggressive efforts to resize the organization to reduced volume levels with permanent structural reductions in overhead; selling, marketing & distribution; and G&A; improved operational efficiencies driven by lean manufacturing/TPS; and pricing initiatives. Shorten this?
* Expanded Sloan product line, focused on full line sales opportunities and added 300+ new customers.
* Leveraged a dominate market share position of a BLD key product line from the elimination of the only US competitor and negotiated an exclusive manufacturing contract with a Mexican competitor for distribution only in this market.
* Improved profit margin 2X and retained a key BLD product line by moving from an OEM buy/sell product to in-house final assembly by purchasing sub-assemblies from a Qualitor Chinese WOFE.
* Expanded Chinese sourcing by 65% driven by two company-employed Chinese sourcing engineers leading to substantial profit and cash flow improvements.
* Assumed functional roles of Supply Chain VP and VP Sales, Marketing and Distribution at Sloan due to turbulent economic conditions.
* Restructured BLD and Sloan into business units resulting in profit and cash flow improvements from focused decision making.
ENGINEERED MACHINED PRODUCTS, INC.
President and COO
2004 to 2005
Engineered Machined Products, Inc. is a privately held $350 million manufacturer of thermal, fluid, and oil management design solutions for auto, heavy-duty and military markets.
Recruited to provide leadership and develop the management team, drive business process excellence and lean practices during a period of explosive growth, and prepare the business for the launch of advanced products. Led a rapid financial turnaround through operational efficiencies and an aggressive commercial strategy. Corporate Officer. Reported to Chairman/Owner.
* Transformed underperforming business units into high levels of profitability thru focused operational efficiencies/lean practices - 35% reduction in indirect labor and variable accounts, 20% reduction in scrap, and a 15% productivity improvement.
* Achieved engineering paradigm shift to total cost optimization from cycle time focus.
* Resolved underlying commercial issues with key customers while securing material cost recovery in volatile commodities market. Secured price increases from low volume and low margin products.
* Engaged product launch teams and program management to insure successful introduction of advanced products in the marketplace.
* Exploited strong engineering base and state of the art automation and capability to secure new business.
* Executed key cash flow enhancing objectives resulting in significant positive free cash flow.
TOWER AUTOMOTIVE, INC.
Executive Vice President / President - US & Canada
2000 to 2001
Tower Automotive, Inc. is a $2.5 billion manufacturer of engineered structural components and assemblies.
Recruited to provide leadership and business process structure. Given full autonomy to turnaround a highly-leveraged business that had grown through acquisition from $100 million to $2 billion in six years. Led a top to bottom assessment of the business, products and market focus to outline a strategic plan to place them on a track toward revenue and profit growth. Held full P&L for $2.1 billion in revenue, 11,000 employees and 26 sites. Corporate Officer. Reported to the CEO.
* Spearheaded a complete reorganization to create a matrix operation centered around three core product groups. Integrated multiple acquisitions and drove business process excellence across the organization.
* Defined and launched a five-year strategic plan with financial, operational and business objectives tied directly to the overall corporate vision and direction.
* Executed key cash flow enhancing objectives and linked executive performance directly to financial goals - 20% reduction in salary census, a 24% reduction in inventories, a 33% increase in days payable, and a 25% reduction in T&E.
* Resolved underlying issues in several key contracts and secured a 12% price increase which placed a multi-million dollar contract at a break-even point. Led efforts to capture $400 million in new business at unprecedented EVA/IRR.
* Managed the business for cash leading to a $320 million debt reduction. Initiated restructuring of operations employing lean practices/TPS leading to two plant closures.
FEDERAL-MOGUL CORPORATION (and acquired companies)
Senior Vice President
1998 to 2000
Federal-Mogul Corporation is a $6 billion Tier One component systems supplier to global OEMs and aftermarket. The company acquired T&N Plc in 1998.
Joined the new executive management team to facilitate a series of acquisitions to build a $6 billion company overnight. Assumed responsibility for five divisions, representing $2.5 billion in revenue, 13,000+ employees and 84 locations across the America's, Europe and Asia-Pacific.
Led the turnaround, restructuring, and/or growth of top sector brands including CHAMPION Spark Plugs, MOOG Chassis, CARTER Fuel, WAGNER Friction, and ABEX Friction Company. Challenged to provide strategic direction that would address scale, focus and EVA/IRR while deploying the corporation's signature lean deployment and manufacturing mastery across disparate business cultures and operations. Corporate Officer.
* Transformed under-performing businesses with flat sales into highly profitable ventures. Delivered over $60 million increase in EBIT through lower costs and better utilization of assets worldwide.
* Consolidated 17 facilities into eight using lean deployment reducing total floor space by 1.625 million sq.ft. while maintaining capacity. Closed nine underperforming facilities and launched three Greenfield sites.
* Spearheaded supply chain, logistics and production improvement programs that reduced a $.5 billion inventory by 28% and generated significant savings in purchasing and freight costs across all five divisions.
* Assembled a top-flight team to transform a $400 million Asia-Pacific business into a market-focused organization. Restructured operations in Australia and Taiwan, and expanded presence in Thailand, China and India.
* Delivered over $25 million in annual SG&A and headcount savings across five divisions.
T&N PLC
President & CEO - AE Goetze, Inc.
1990 to 1998
T&N Plc is a $2.5 billion Tier One component systems supplier to global OEMs and aftermarket. The company acquired J.P. Industries in 1990.
Promoted following T&N's acquisition of J.P. Industries based on recognition of success in change management and performance leadership. Held full P&L responsibility for a $600 million North American powertrain division with 3,200 employees at 12 sites. Effectively merged T&N's strong engineering/technology innovation philosophy while maintaining JP's low cost/high quality product reputation and while integrating other acquisitions into the core business structure. Spearheaded lean practices initiatives.
* Successfully grew the business from $100 million to $600 million and market leadership position in profitability, ROCE, and EVA. Received Chairman's Outstanding Achievement Award for contribution to the success of the company.
* Built a top-flight executive team that exemplified leadership by example, participative management, and commitment to employee development - achieving unprecedented results across previously under-performing businesses.
* Played a key role in four corporate acquisitions in US and international markets to diversify product lines. Structured a restructuring JV with a key customer and forged stronger relationships with Asia partners.
* Spearheaded turnaround of a newly acquired $120 million German corporation. Transformed a business that had lost $60 million over the prior 10 years into a profitable business unit within one year.
* Launched two Greenfield operations and restructured existing manufacturing plants based on market requirements and key cost drivers. Initiated JIT/lean deployment and continuous improvement achieving world-class status.
* Was appointed the T&N customer champion for Fortune 500 clients. Applied management by influence and collaboration to bring together seven portfolio companies to provide a single executive relationship.
J.P. INDUSTRIES, INC. / CLEVEITE INDUSTRIES / GOULD, INC.
General Manager - J.P. Industries, Inc.
1987 to 1990
J.P. Industries, Inc. is a $700 million Tier One component systems supplier to global OEMs and aftermarket.
Promoted rapidly from Materials Manager to Plant Manager at Gould, Inc., demonstrating expertise in change management, labor relations and team-building in a 600-employee union operation. Following spin-off of the group to create Clevite Industries, was promoted to General Manager, assuming increased responsibility and P&L accountability for 7 plants with annual sales of $200 million and 2,500 employees. After the acquisition of Clevite Industries by J.P. Industries, Inc., continued to drive process, productivity, and production improvements as General Manager. Reported to the President.
* Sustained record sales, profit and ROCE during a recessionary market by positioning the business as a low cost leader.
* Implemented a strategic business planning system defining factors critical to success in the marketplace. Determined optimal investment/divestiture scenarios to better allocate financial and operational resources.
* Introduced state-of-the-art automation technology, implemented JIT production management, applied SPC and cost of quality measurements and realigned the focus of manufacturing around key cost divers and market requirements.
EDUCATION AND AFFILIATIONS
MBA, Operations Management & Finance, University of Minnesota
BA, Business Administration & Marketing, Winona State University
Past President, Member, National Engine Parts Manufacturing Association (NEPMA)
Member, University of Minnesota Presidents Club
3 Cheviot Hills Court ª Franklin, MI 48025 ª C: (248) 770-8246 ª H: (248) 538-7247 ª krohner18@aol.com
PRESIDENT / COO / EVP ? OPERATIONS
Performance-driven business executive with a proven track record of knowing what it takes to build a solid team, provide strategic vision, and implement strategies that have taken corporations to unprecedented revenue, profit and market performance.
ª Successful track record of leading small, medium and large companies, intensely driving organizational change, leveraging technology innovation, and capitalizing on market opportunities to deliver value-added solutions for key customers worldwide.
ª Survived and thrived through four consecutive mergers assuming expanded responsibilities. Successfully navigated multiple acquisitions and transfer of operations from US to international manufacturing to build scale, lower costs, and create competitive advantages.
ª Exceptional team building, communication and hands-on leadership of multinational teams and organizations.
DDK CONSULTING
Founder / Consultant
2010 to Present; 2002 to 2004
Founded DDK Consulting to provide M&A advisory services to private equity companies, applying extensive financial and operations background in evaluating potential strategic and financial targets.
QUALITOR, INC.
President, BLD Products, Ltd.
President, Sloan Transportation Products
2006 ? 2009
Qualitor, Inc. is a $250 million leading manufacturer and distributor of aftermarket parts for the automotive
and medium to heavy-duty trade industries.
Recruited by the Chairman and private equity investor to lead BLD Products Ltd. (a manufacturer of engine and transmission management replacement components for light vehicles globally) and Sloan Transportation Products (a manufacturer and distributor of air and electrical delivery components and engine parts to the heavy-duty aftermarket).
ª Improved EBITDA at BLD despite a sales decline of 35% while improving working capital contributing to a 73% improvement in NCF after interest, in a turbulent economic environment.
ª Reduced Sloan break-even point by 45% by implementing aggressive efforts to resize the organization to reduced volume levels with permanent structural reductions in overhead; selling, marketing & distribution; and G&A; improved operational efficiencies driven by lean manufacturing/TPS; and pricing initiatives. Shorten this?
ª Expanded Sloan product line, focused on full line sales opportunities and added 300+ new customers.
ª Leveraged a dominate market share position of a BLD key product line from the elimination of the only US competitor and negotiated an exclusive manufacturing contract with a Mexican competitor for distribution only in this market.
ª Improved profit margin 2X and retained a key BLD product line by moving from an OEM buy/sell product to in-house final assembly by purchasing sub-assemblies from a Qualitor Chinese WOFE.
ª Expanded Chinese sourcing by 65% driven by two company-employed Chinese sourcing engineers leading to substantial profit and cash flow improvements.
ª Assumed functional roles of Supply Chain VP and VP Sales, Marketing and Distribution at Sloan due to turbulent economic conditions.
ª Restructured BLD & Sloan into business units resulting in profit and cash flow improvements from focused decision making.
ENGINEERED MACHINED PRODUCTS, INC.
President and COO
2004 to 2005
Engineered Machined Products, Inc. is a privately held $350 million manufacturer of thermal, fluid,
and oil management design solutions for auto, heavy-duty and military markets.
Recruited to provide leadership and develop the management team, drive business process excellence and lean practices during a period of explosive growth, and prepare the business for the launch of advanced products. Led a rapid financial turnaround through operational efficiencies and an aggressive commercial strategy. Corporate Officer. Reported to Chairman/Owner.
ª Transformed underperforming business units into high levels of profitability thru focused operational efficiencies/lean practices ? 35% reduction in indirect labor and variable accounts, 20% reduction in scrap, and a 15% productivity improvement.
ª Achieved engineering paradigm shift to total cost optimization from cycle time focus.
ª Resolved underlying commercial issues with key customers while securing material cost recovery in volatile commodities market. Secured price increases from low volume and low margin products.
ª Engaged product launch teams and program management to insure successful introduction of advanced products in the marketplace.
ª Exploited strong engineering base and state of the art automation and capability to secure new business.
ª Executed key cash flow enhancing objectives resulting in significant positive free cash flow.
TOWER AUTOMOTIVE, INC.
Executive Vice President / President ? US & Canada
2000 to 2001
Tower Automotive, Inc. is a $2.5 billion manufacturer of engineered structural components and assemblies.
Recruited to provide leadership and business process structure. Given full autonomy to turnaround a highly-leveraged business that had grown through acquisition from $100 million to $2 billion in six years. Led a top to bottom assessment of the business, products and market focus to outline a strategic plan to place them on a track toward revenue and profit growth. Held full P&L for $2.1 billion in revenue, 11,000 employees and 26 sites. Corporate Officer. Reported to the CEO.
ª Spearheaded a complete reorganization to create a matrix operation centered around three core product groups. Integrated multiple acquisitions and drove business process excellence across the organization.
ª Defined and launched a five-year strategic plan with financial, operational and business objectives tied directly to the overall corporate vision and direction.
ª Executed key cash flow enhancing objectives and linked executive performance directly to financial goals ? 20% reduction in salary census, a 24% reduction in inventories, a 33% increase in days payable, and a 25% reduction in T&E.
ª Resolved underlying issues in several key contracts and secured a 12% price increase which placed a multi-million dollar contract at a break-even point. Led efforts to capture $400 million in new business at unprecedented EVA/IRR.
ª Managed the business for cash leading to a $320 million debt reduction. Initiated restructuring of operations employing lean practices/TPS leading to two plant closures.
FEDERAL-MOGUL CORPORATION (and acquired companies)
Senior Vice President
1998 to 2000
Federal-Mogul Corporation is a $6 billion Tier One component systems supplier to global OEMs and aftermarket.
The company acquired T&N Plc in 1998.
Joined the new executive management team to facilitate a series of acquisitions to build a $6 billion company overnight. Assumed responsibility for five divisions, representing $2.5 billion in revenue, 13,000+ employees and 84 locations across the America?s, Europe and Asia-Pacific.
Led the turnaround, restructuring, and/or growth of top sector brands including CHAMPION Spark Plugs, MOOG Chassis, CARTER Fuel, WAGNER Friction, and ABEX Friction Company. Challenged to provide strategic direction that would address scale, focus and EVA/IRR while deploying the corporation?s signature lean deployment and manufacturing mastery across disparate business cultures and operations. Corporate Officer.
ª Transformed under-performing businesses with flat sales into highly profitable ventures. Delivered over $60 million increase in EBIT through lower costs and better utilization of assets worldwide.
ª Consolidated 17 facilities into eight using lean deployment reducing total floor space by 1.625 million sq.ft. while maintaining capacity. Closed nine underperforming facilities and launched three Greenfield sites.
ª Spearheaded supply chain, logistics and production improvement programs that reduced a $.5 billion inventory by 28% and generated significant savings in purchasing and freight costs across all five divisions.
ª Assembled a top-flight team to transform a $400 million Asia-Pacific business into a market-focused organization. Restructured operations in Australia and Taiwan, and expanded presence in Thailand, China and India.
ª Delivered over $25 million in annual SG&A and headcount savings across five divisions.
T&N PLC
President & CEO ? AE Goetze, Inc.
1990 to 1998
T&N Plc is a $2.5 billion Tier One component systems supplier to global OEMs and aftermarket.
The company acquired J.P. Industries in 1990.
Promoted following T&N?s acquisition of J.P. Industries based on recognition of success in change management and performance leadership. Held full P&L responsibility for a $600 million North American powertrain division with 3,200 employees at 12 sites. Effectively merged T&N?s strong engineering/technology innovation philosophy while maintaining JP?s low cost/high quality product reputation and while integrating other acquisitions into the core business structure. Spearheaded lean practices initiatives.
ª Successfully grew the business from $100 million to $600 million and market leadership position in profitability, ROCE, and EVA. Received Chairman?s Outstanding Achievement Award for contribution to the success of the company.
ª Built a top-flight executive team that exemplified leadership by example, participative management, and commitment to employee development ? achieving unprecedented results across previously under-performing businesses.
ª Played a key role in four corporate acquisitions in US and international markets to diversify product lines. Structured a restructuring JV with a key customer and forged stronger relationships with Asia partners.
ª Spearheaded turnaround of a newly acquired $120 million German corporation. Transformed a business that had lost $60 million over the prior 10 years into a profitable business unit within one year.
ª Launched two Greenfield operations and restructured existing manufacturing plants based on market requirements and key cost drivers. Initiated JIT/lean deployment and continuous improvement achieving world-class status.
ª Was appointed the T&N customer champion for Fortune 500 clients. Applied management by influence and collaboration to bring together seven portfolio companies to provide a single executive relationship.
J.P. INDUSTRIES, INC. / CLEVEITE INDUSTRIES / GOULD, INC.
General Manager ? J.P. Industries, Inc.
1987 to 1990
J.P. Industries, Inc. is a $700 million Tier One component systems supplier to global OEMs and aftermarket. Promoted rapidly from Materials Manager to Plant Manager at Gould, Inc., demonstrating expertise in change management, labor relations and team-building in a 600-employee union operation. Following spin-off of the group to create Clevite Industries, was promoted to General Manager, assuming increased responsibility and P&L accountability for 7 plants with annual sales of $200 million and 2,500 employees. After the acquisition of Clevite Industries by J.P. Industries, Inc., continued to drive process, productivity, and production improvements as General Manager. Reported to the President.
ª Sustained record sales, profit and ROCE during a recessionary market by positioning the business as a low cost leader.
ª Implemented a strategic business planning system defining factors critical to success in the marketplace. Determined optimal investment/divestiture scenarios to better allocate financial and operational resources.
ª Introduced state-of-the-art automation technology, implemented JIT production management, applied SPC and cost of quality measurements and realigned the focus of manufacturing around key cost divers and market requirements.
EDUCATION AND AFFILIATIONS
MBA, Operations Management & Finance, University of Minnesota
BA, Business Administration & Marketing, Winona State University
Past President, Member, National Engine Parts Manufacturing Association (NEPMA)
Member, University of Minnesota Presidents Club |
