CFO / COO
Business Development – Profit Improvement
Executive career marked by exceptional profit and performance improvements for US and multinational firms in diverse industries. Tackled financial, operations, and market challenges, repeatedly developing and executing strategies across the entire enterprise to swiftly expand revenue, increase profitability, and focus strategy on core business and growth opportunities.
Recognized for motivational leadership style and ability to gain consensus, forge alignment, and get results in the most challenging circumstances. Experience encompasses corporate and consulting roles, in both large and small organizations, in the US, Europe and Asia.
Greatest strength is translating strategy to action, driving bottom-line accomplishments that speak for themselves.
Highlights of Achievements:
Remarkable profit growth through strategy development and change management.
- $13MM profit improvement in 15 months for a $125MM consumer-products manufacturer
- $168MM profit increase in 8 months for a $3B international telecom
- $35MM profit improvement in 18 months for a $200MM consumer fashion company
Striking bottom-line performance through results-focused operational management.
- $3MM cash-flow increase ($125MM company), improving inventory and working capital management
- 5% ($4MM) margin growth by rationalizing supplier base and improving cycle-time management
- $50MM cash-flow increase ($1B corp) by implementing a new global supply chain planning process
Experience and Achievements:
$125M manufacturer of branded consumer products. 2005 - Present
Produces and develops consumer products (Johnson & Johnson, Victoria Secret, L’Oreal, Unilever, Coty and others) with manufacturing, warehousing, distribution and R&D operations in NJ and CA.
Chief Financial Officer
Spearheaded the growth and revitalization of a $125MM, 600-employee, bi-coastal manufacturer, reversing $6MM loss to $7MM profit in 15 months. Recruited by a group of private equity firms to develop and implement innovative strategies to generate cash flow, improve profitability and increase enterprise value.
- Increased cashflow by $3MM in 4 months, by leading cross-functional management teams and instilling a cash-culture throughout the organization. Reduced inventory by 25%, improved collections by 15-days and negotiated $2MM extended terms with vendors, bringing a $400M/week cash burn to break-even.
- Increased operating profit $1MM in 6 months, leadership role with operational units, reducing costs by 12% and increasing efficiency by consolidating common work functions across divisions.
- Developed and implemented strategies that doubled the enterprise value in 15 months, facilitated implementation of new processes which improved thru-put by 50% and reorganized management structure. With the dramatic improvement in cashflow and profitability, enabled 45% ROI to investors.
AlixPartners, New York, NY—the leading global management consulting firm in business development and profit improvement. 2001–2004
Director
Leadership role in developing fresh strategies that navigated underperforming organizations into new markets, and from loss to profitability as interim executive/business advisor to clients that included RR Donnelly, $5B commercial printer; PPG Industries, $8B industrial chemical manufacturer; Sunterra, $2.5B resort corporation; Exide Technologies, $2.5B stored energy company; Acterna, $1B hi-tech company; Parmalat, $1B consumer-food products; and WorldCom (Sprint), $35B telecommunications company.
Working leading companies in highly competitive and often in the most challenging business situations, become an integral part of the client organization, often taking management roles and partnering with executive team to rapidly take action and implement new strategies for growth and profit improvement.
- Increased profit $168MM in 8 months for cash-drained $3B telecom, leading a wholesale redesign/restructuring/cultural change of European operation encompassing 63 legal entities. Instilled bottom-line focus into all areas of operations, marketing, and deal strategy; improved organizational efficiency 20% and SG&A expense 5%; divested $50MM of underutilized real estate.
- Developed diversification and growth strategies leveraging existing expertise—e.g., a new division to grow a $230MM industrial firm 60% 5 years; a new line of business that within 6 years will add $1B to the top line for an established company.
- Improved investment portfolio and increased liquidity for a leading resort company. Negotiated key contracts and improved expense structure while maintaining service levels; directed due diligence and negotiation of a $150MM strategic deal with Hilton Corp.
- Cut waste, redesigned work, and grew profits $4MM for a $140MM hi-tech subsidiary.
Left GFT in 2000, turning down two offers to stay, to pursue management consulting, working as a senior consultant with The Novations Consulting Group, a strategic planning firm. Decided to leave AlixPartners in 2004 to start my own firm, The Cardinal Strategy Group. Recruited to a corporate role in 2005.
GFT International, New York, NY—$1B manufacturer and marketer of luxury consumer products. 1995–2000
Stable of high-profile brands (Giorgio Armani, Valentino, Ungaro, Calvin Klein), 8000 employees, operations and retail outlets in 27 countries. Subsidiary of $4B global public company, HdP (Holding di Partecipazioni).
Senior VP Finance & Operations 1998–2000
Led dramatic revitalization of an underperforming $200MM, 350-employee global subsidiary, improving profit $35MM in 18 months. Assumed COO leadership, with full P&L responsibility, for Emanuel Ungaro Fashion Corp., projecting loss of more than $55MM and plagued with financial and management problems resulting from a sudden decline in the retail market. Direct reports (US and international) included 6 VPs (production, product development, quality control, MIS, finance, logistics) and total staff of 200+.
- Implemented innovative business strategies—restructuring the entire subsidiary, launching multi-functional management teams, outsourcing non-strategic functions, rationalizing the supplier base, and negotiating new agreements with retailers—to achieve remarkable turnaround:
40% increase organizational efficiency
$20MM cutback in inventory
29% improvement in overhead expense
$14MM improvement expense structure
12% improvement in cycle time
17% growth in gross profit margins
Paved the way for profitable divestiture of the division in 2000.
VP Financial Planning & Analysis 1995–1998
Recruited as part of new management team to rejuvenate the business and in a highly competitive yet stagnant marketplace. As #2 financial executive in the corporate group, reported to CFO and served as CEO’s business advisor. Held managerial responsibility for business planning, corporate financial analysis, global production planning, retail agreements, and change management.
- Led aggressive initiatives to drive up profitability, liquidity, and brand value across multiple lines of business—e.g., developed and implemented a global business supply chain planning process that increased gross margin and generated $50MM cash flow corporate wide.
Revlon, New York, NY—$1.5B global manufacturer/marketer of consumer products and appliances. 1988–1995
Director of Finance & Administration 1992–1995
Division Controller 1989–1992
Senior Financial Analyst 1988–1989
Orchestrated successful growth and improvement of struggling $120MM fragrance division, reversing $5MM loss to $7MM profit. Charged with a GM role, with full P&L responsibility, created both change and stability to transform highly fragmented, critically distressed business unit into a cohesive, profitable organization. Reported to CFO and Revlon North America President.
- Grew profits $12MM and improved expenses $5MM through operational improvements and strategic product and marketing initiatives.
$5MM improvement in overheads
$15MM cash-flow increase from 30% inventory reduction achieved through aggressive liquidation activities and retailer negotiations
15% expansion of distribution by opening 6,000 doors for 3 brands
3 product lunches that delivered $70MM annual sales by year 2
gross margin and profit increases on 25% reduced sales via strategic product re-mixing
- Managed successful integration of a $70MM acquisition while increasing productivity 18% and identifying product synergies.
- Managed corporate projects including legal compliance litigation, divestiture of 2 $25MM business units, and due diligence for Revlon’s IPO.
Clairol, New York, NY—$265MM manufacturer and marketer of consumer products, Subsidiary of Bristol-Meyers Squibb. 1986–1988
Senior Financial Planner 1987–1988
Business Analyst 1986–1987
Ernst & Young, New York, NY—$10B auditing, accounting, and consulting firm. 1984–1986
Senior Auditor 1985–1986
Staff Auditor 1984–1985
Professional Profile:
Education:
MBA - Johnson Graduate School of Management, Cornell University, Ithaca, NY, 1984
BS, cum laude - Brooklyn College, Brooklyn, NY, 1982
Continuing Professional Education:
“Business fraud and reorganization” - Turnaround Management Associations, 2004
“NYC CPA business and technology symposium” - NYCCPA Foundation for Accounting, 2005
“Due diligence symposium” - Association for Corporate Growth, 2005
“Global sourcing and international trade” – ASAP, 2005
Affiliations:
Board of Directors – Mercer ARC
National Association of Corporate Directors
Turnaround Management Association
Association for Corporate Growth
Speaker/Lecturer:
Turnaround Management Association |
