CHIEF FINANCIAL OFFICER/CONTROLLER (CPA) with GENERAL MANAGER experience (P&L responsibility) in manufacturing in both domestic and international environments. Expertise in financial and management reporting, planning, budgeting, cost control, system selection and implementation, process development, project and contract control, bank relationships, acquisition analysis (M&A), inventory control, product development, and customer relations.
2005 – Present
VICE PRESIDENT OF OPERATIONS
Contacted by the President, a former colleague, and the CEO of a vehicle testing laboratory and test instrumentation company for the position of Vice President of Operations .Responsibilities include accounting, reporting, IT, invoicing, payroll, accounts payable and cash management, scheduling of test technicians and facility and equipment maintenance.
Reports to President-Four Direct Reports; Accounting Manager, Director of Engine Test, Director of Vehicle Test, Maintenance Manager.
The one year goal of this assignment is to improve profitability through test volume increases and positive cash flow as the President focuses his time on marketing and product development.
The rate of tests not acceptable to customers was decreased by 100% by training and more selective test assignments.
Test volume increased by 25% through higher tests accepted by customer and by lowering facility downtime through a planned cycle of equipment and IT maintenance.
Design and implemented a process for contract acceptance which resulted in more accurate testing and increased billable tests by 25%.
Increased cash flow by reducing the customer invoicing cycle by 15 days through simplification of the process.
Month end close reporting cycle was improved by 11 working days through communication with operations, training and new processes.
1990 – 2005
AVL NORTH AMERICA, INC. Plymouth, Michigan
CHIEF FINANCIAL OFFICER and GENERAL MANAGER
Recruited by the CEO of an international technical products company located in Europe (AVL) as CFO in 1990 to provide financial and administrative leadership and develop and grow the American subsidiary (AVLNA) from a 5% market share to 50% within 10 years. PROMOTED to VP and GENERAL MANAGER in 2001 of new acquisition (Digalog) and managed the transition. During the first three years increased Digalog sales 125%.
The company develops, engineers, manufactures, installs and services test equipment and testing systems acting as integrator of certain equipment and software from outside suppliers.
Hired and trained a financial and administrative staff to support the company growth from $2 million to $80 million in revenue.
Established financial and administrative infrastructure of company; banking, certified audits, attorney, risk management and fringe benefits.
Selected, implemented and as required, upgraded company business software. (MRP)
Developed internal financial reporting packages to company management and owners. Monthly reporting of order backlog versus budget, product line reporting through profit margins, rolling forecast compared to original budget allowing for adjustments to annual plan to meet forecast results.
Lead contact with external auditors (CPA, IRS, and State) to insure audit information is provided and any issues resolved for timely and efficient completion for financial statement issuance.
Designed and implemented an annual budget process which included monthly budget and analysis reporting to operations directors and owners. Managed the annual budgeting process through input from department directors. Consolidated departmental expenses, costs and revenues by product line and into a corporate entity
P&L.
Improved the profitability of customer contracts by 40% in one year. Developed and implemented a monthly contract review system with project engineers. Actual to-date costs and profitability versus project plan was reviewed with the project engineer also an ‘estimate to complete’ was calculated along with a review of performance and profitability issues. Results were “No Surprises” for company and customer.
Negotiated and maintained (loan covenants) a $15 million working capital line of credit with a major international bank to support growth without a guarantee from the parent company. The interest rate was one basis point above prime during a growth period where market share increases was the priority over profit margins.
Led team (CPA and Attorney) and issued Industrial Revenue Bond financing for new 80 thousand square foot facility.
Project Manager for site selection, facility design and construction of 80,000 square foot facility (office, engineering and plant) completed within budget and occupied in one year.
Increased the accuracy of the quoting process to meet target margins of 70% from prior calculation of 45% and to deliver on more accurate promise dates, results were a 75% increase in on time delivery.
Managed team of operations managers to develop and implement processes for quoting, sales, order fulfillment and service communicating responsibilities and timing to successfully complete a customer order.
Redefined product cost through establishment of detailed BOMs and labor costs for cost control and quoting.
Merger and acquisition experience including valuation, negotiation and due diligence.
Project Manager for the development of a new product from marketing justification to successful rollout in one year. Project team included internal and external resources.
2001-2005 GENERAL MANAGER-DIGALOG, CA (a subsidiary of AVL)
PROMOTED to GM to transition new acquisition with full P&L responsibility, established processes, budgets, annual plans, restructure and lead implementation, define product line, reduce cost and head count. Reported to President of AVLNA-Six Direct Reports; Controller, Sales Manager, R&D Manager, Manufacturing and Logistics Manager, Service Manager and Software Engineer.
1990-2001 CHIEF FINANCIAL OFFICER-AVL NORTH AMERICA-MI
Financial leader of company during growth from $2 million to $80 million. Reported to President – Six Direct Reports; General Ledger and Reporting Manager, Test Services Accounting Manager, Accounts Payable, Payroll, Invoicing and IT.
1986 – 1990 LIBBEY-OWENS FORD CO. Toledo, Ohio
GROUP CONTROLLER
1978 – 1986 TEXTRON – Pure Pak Division, Troy, Michigan
DIVISION CONTROLLER
1973 – 1978 PRICEWATERHOUSECOOPERS, Detroit, Michigan
AUDIT SENIOR
EDUCATION: BS Management (Accounting Concentration)
Lawrence Technological University, Southfield, Michigan
CERTIFICATION: CPA Michigan 1976 |
