From RiteSite's Senior Executive Talent Bank ... CFO, Controller, VP of Finance Background and acheivements of this Executive are shown. Contact information is confidential. To reach this person, use the link from Executive talent bank at the conclusion of the resume. Click HERE for more information, jobs, and resumes. |
Position | CFO, Controller, VP of Finance |
Location Confidential | No |
Location | No preference |
Willing to Relocate | Yes |
Industry | Industrial-Products-Equipment-Components-Supplies |
Function | FINANCE--CFO/Control/Acctg./Treas./Tax,etc. |
Compensation | $150,000 to $300,000 |
Resume Summary
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CFO with CPA from private manufacturing company experience with: international and multi-site manufacturing, controller skills, software implementation, turnaround procedures, M&A and debt-restructuring. Previously partner with regional CPA firm with clients across multiple industries. |
Resume Body CFO, CONTROLLER, VP OF FINANCE
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July 2001 – July 2005 BOBS CANDIES, INC. et All CHIEF FINANCIAL OFFICER
Recruited to Bobs Candies, Inc. (Bobs) to improve accounting and financing practices. Bobs was the 86 year-old parent corporation of the McCormack family enterprises. Sales exceeded $47 million in fiscal-year 2004, employing 650 personnel worldwide. Entity responsibilities covered two manufacturing facilities structured within two U.S. corporations, two U.S. partnerships, three Mexican partnerships (one as a Maquilladora), and one Jamaican corporation.
Entered the position understanding reporting functions were in dismal condition. Starting a training plan and adjusting work functions resulted in:
•Reduced monthly report cycle time from 45 days to five days •Generated the first internally prepared GAAP basis statements for external audit •Implemented a web based interface to integrate Mexican accounting records with corporate software and began implementation of Financial Interpretation 46 •Introduced departmental budgeting: meeting earnings targets in years one and two •Added product profitability evaluations to line review process
Concurrently, the delayed start-up of production facilities in Reynosa, Mexico placed a greater strain on financing resources than anticipated. To cope with this situation, a series of financing transactions were completed:
•Completed renewal of the operating line of credit in fall 2001 with an increase in seasonal borrowing limits with no change in terms following two years of reported losses •Provided adequate due diligence and comfort to a new lender to provide $22 million in lending in only ten days, including negotiating for existing lender to a subordinated position •Negotiated a 25 point rate reduction without fees being attached at the one year renewal date •Surpassed loan covenants in all periods, exceeding them with a 28% reduction in borrowings from 2003 to 2004 and reducing debt to equity ratios .41 to .83 •Accomplished the early repayment of subordinated debt including a negotiated $600,000 principal discount After the 2002 change in lenders, we implemented numerous turnaround strategies. Within two years positive results had been achieved:
2002 2003 2004 Sales growth (5.6)% 4.2% 3.8% Net Income millions (3.7) 1.8 4.4 ROE (30.0)% 12.5% 27.3%
Given these successes, the family decided in September 2004 to place the enterprises up for sale. After substantial involvement in marketing, due diligence and contract negotiation, we completed the successful sale of the enterprises to Farleys & Sathers Candy Co. a part of Catterton Partners investment group. My assistance continued through transitioning accounting functions.
January 1993 - June 2001 MAULDIN & JENKINS CPAs, LLC (Albany, GA office) MEMBER
Began with the regional firm January 1993 as a staff accountant making Member status six years later in June 1999. Mauldin & Jenkins was considered the largest CPA firm in the state of Georgia with three offices and eighteen partners. The firm maintains niche concentrations in local banks, nursing homes, closely held businesses, and governmental entities.
Services were provided to business owners through audit, accounting and tax services with a majority of work with manufacturing entities. Experience integrated:
•Tax advisory services covering corporate, pass-through entity and individual regulations, as well as multi-state rules and tax treaty implications for foreign-owned entities •Audit and accounting included complete responsibility for audits and compliance audits under A-133 rules to monthly accounting and payroll for small business clients •Entity experience included selections to transitions for sole-proprietorships, partnerships, limited liability companies, and corporations, including extensive involvement with S-corporations •Focus within technology applications and implementations exemplified by spearheading data-mining software resulting in a 20% reduction of billable time to certain clients •Less traditional services included managing the financial office of a school system during a financial crisis
Manufacturer experience involves confections, textiles, agriculture equipment, diagnostic equipment to power boats. Some non-manufacturing clients were real estate offices, a contractor, a screen printing service and a funeral home. Additionally, services were provided to not-for-profit entities including trade associations, research groups, a housing assistance office, country club operations and other 501(c)3 charitable organizations as well as providing audit services for a state agency with over $4 billion in revenue.
May 1992 - December 1993 SOUTH GEORGIA REGIONAL DEVELOPMENT CENTER/ CITE AUDITOR/JOB EVELOPER
Worked as a compliance auditor for JTPA work program and work development coordinator for participants in JTPA work programs. Responsibilities included interviewing potential program participants and teaching work skills classes. Contacting employers to arrange involvement with assistance programs was a responsibility.
Spring 1992 CHATFIELD DEAN INVESTMENT BANKERS STOCKBROKER
Worked as entry level stockbroker. Placed phone calls to prospective clients and solicited stock purchases. The Series 7 and Series 53 (blue sky laws) exams were completed in April 1992.
June 1991 – March 1992 FRESH BEGINNINGS, INC. ACCOUNTS RECEIVABLE CLERK
Recorded daily deposit transactions to accounts receivable ledger system and proofed the same. Regularly called delinquent customers for payment information.
Membership: AICPA GSCPA
Education: B.B.A. Accounting, Valdosta State College August 1991 B.B.A. Business Management, Valdosta State College August 1990
Personal: •Born Nov. 8, 1968, Divorced, no children •Flint River Habitat for Humanity board 2003 - current (Pres. 04-05) •Treasurer, Flint River Center Partners, Inc. since August 2004 (aquarium) |
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