CHIEF FINANCIAL OFFICER OR VICE PRESIDENT OF FINANCE
As Chief Financial Officer for a $34 million entertainment marketing company, I recently helped the CEO/Owner monetize his investment in the business. Over a five year period we grew revenue 2.3x while improving pre tax net income 20x. This substantial improvement in the business enabled us to successfully sell the Company to a venture backed strategic buyer.
Previously, I helped a Fortune 500 Company operating within the service sector divest an operating division involved in the wholesale distribution of magazine and book product. The execution of the business strategy developed to position the Division for sale was completed within five months and involved the following transactions: two acquisitions, two joint ventures, and seven divestitures. I started out in public accounting as a CPA with KPMG working in the following industries: construction, entertainment, financial services, manufacturing, oil and gas, non-profit, real estate, retail, and transportation. I have a B.S. degree in business administration with an emphasis in accounting.
December 2005 – July 2007 TRAILER PARK INC. Hollywood, California VICE PRESIDENT, FINANCE & CHIEF FINANCIAL OFFICER
Appointed Chief Financial Officer of Trailer Park, a privately held $61 million provider of entertainment marketing services, after their acquisition of Creative Domain on December 13, 2005. Directly reported to the CEO of Trailer Park with a strong dotted line to the venture capital equity investor, Lake Capital. Responsible for the following business activities: financial reporting, financial and operational analysis, budgeting and strategic planning, billing, credit and collections, accounts payable, management information systems, payroll and benefits, contract compliance, policy and procedure, treasury, and tax.
Integrated all accounting and finance functions after Trailer Park’s acquisition of Creative Domain. Improved cash flow by streamlining the billing/collection process and managing vendor payment terms. Paid down $7.6 million of debt enabling the successful negotiation of a larger credit facility for the Company. Used the larger credit facility to fund an $8 million strategic business acquisition for the Company.
Developed and executed a payroll reduction initiative which yielded annual savings of $1.3 million. Also developed and executed a compensation program for the Company’s sales force which more closely aligned pay with performance.
Implemented a data warehouse (DataSelf) which utilizes Microsoft’s Sequel and Pro Clarity technologies. Used the data warehouse to measure job, client, service offering, and employee level profitability. Also enhanced financial systems (MAS90) to enable Company to change revenue recognition methodology.
Finalized the purchase accounting for both Lake Capital’s investment in Trailer Park and Trailer Park’s acquisition of Creative Domain. Changed the revenue recognition methodology to comply with GAAP and guided the Company through the first two audits of its existence.
November 2000 – November 2005 CREATIVE DOMAIN, INC. Hollywood, California VICE PRESIDENT, FINANCE & CHIEF FINANCIAL OFFICER
Recruited to this privately owned $34 million provider of entertainment marketing services as Vice President, Finance and Chief Financial Officer by the Founder/Owner/CEO in 2000 when sales were at $15 million and earnings before taxes at $300,000. Responsible for the following business activities: financial reporting, financial and operational analysis, budgeting and strategic planning, billing, credit & collections, accounts payable, management information systems, human resources, payroll and benefits, contract compliance, policy and procedure, treasury, and tax.
Brought on to help CEO/Owner continue building and growing the business while helping to develop a strategy to monetize his investment in the business. In five years we grew the business to $34 million in revenue and $6 million in earnings before taxes. This significant growth and improvement in the business enabled us to successfully position the Company for sale to a strategic buyer. We consummated the sale of Creative Domain to Trailer Park on December 13, 2005.
Implemented a new financial system (MAS90) and operational databases (Access & FileMaker) to help us more effectively manage the business. The new financial system and operational databases shortened our monthly financial close by 10 days. This was accomplished without increasing staff count.
June 2000 – October 2000 INTELLISYS GROUP Westlake Village, California CORPORATE CONTROLLER
Recruited to join this privately held $160 million integrator of presentation, distance learning, and data networking systems by the CEO. I had previously worked with the CEO when he was the President of ARAMARK’s Magazine & Book Division. I was brought on to help turnaround a cash strapped Company which was reeling from a severely flawed financial system implementation. Unfortunately, we were not able to fully implement our turnaround plan before the Company’s financial institution called their credit facility and forced the liquidation of the business.
October 1999 – May 2000 4MC (Currently Ascent Media) Burbank, California CORPORATE CONTROLLER
Recruited to this publicly held $200 million provider of post production services to the entertainment industry as their Corporate Controller reporting directly to the Chief Financial Officer. My responsibilities included: financial reporting, SEC reporting, billing, credit and collections, accounts payable, payroll, policy and procedure, and tax.
During my short stay I did manage to revamp the monthly closing process and shorten the cycle by three days. I also played a key role in the integration of a foreign business acquisition.
Shortly after my arrival and unbeknownst to me before accepting the Corporate Controller position, the Company was sold. Ultimately, I could not get comfortable with my on-going role within the organization and left for the Intellisys Group opportunity.
1991 – July 1999 ARAMARK MAGAZINE AND BOOK SERVICES (Currently Anderson News) Los Angeles, California CONTROLLER (1993- July 1999)
Promoted to Controller for this privately held national wholesale distributor of magazine and book product with annual revenue of $500 million from nineteen subsidiaries located in fourteen different states. Reported directly to the Chief Financial Officer and responsible for the following accounting and finance functions: financial reporting, financial and operational analysis, budgeting and strategic planning, billing, credit and collections, accounts payable, payroll and benefits, contract compliance, policy and procedure, and tax.
Played an extensive role in the development and implementation of a business strategy which called for the realignment of business units to position the Division for eventual sale. Project completed within five months and involved the following transactions: two acquisitions, two joint ventures, and seven divestitures.
Managed the design and implementation of activity based costing models used to help properly value products and services. Programs yielded additional cash flow of $20 million annually.
Revised financial reporting which reduced the monthly close process by four days and resulted in fact based action oriented analysis.
Directed the installation of Hyperion’s Enterprise financial consolidation reporting software. Project involved system set up and configuration, establishing timetable for conversion of financial data, validating converted data, testing system operations, creating financial reports, determining staffing requirements, and facilitating the training process. Project eliminated forty hours of work on a monthly basis.
Directed the transformation from a highly decentralized credit and collection process to a regional and centralized approach. Reduced the DSO by ten days using EDI technology and revamped collection procedures.
MANAGER, OPERATIONAL AUDIT (1991 - 1993) Recruited to this privately held national wholesale distributor of magazine and book product as the Operational Audit Manager reporting directly to the Chief Financial Officer. Responsible for the planning and implementation of operational audits for the Division’s nineteen decentralized subsidiaries. Tailored audits to identify both operational inefficiencies and internal control weaknesses and proactively worked with local Management to rectify them. Identified the need and justified the expenditure for software used in the business operations to automate a time intensive reconciliation process. Managed the planning and implementation process, conducted training courses for the Division, prepared user manual, and established new procedures. This was the Division’s first financial system implementation in ten years and resulted in on-going annual savings of $100,000. 1989 – 1991 EDWARD WHITE & COMPANY (Local Public Accounting Firm) Woodland Hills, California MANAGER Responsible for managing certified financial audits, reviews, and compilations. Responsibilities also included reviewing corporate (Including consolidated and s-corporations), estate, fiduciary, individual, and partnership tax returns. Industry experience included the following: construction, entertainment, manufacturing, oil and gas, real estate, and retail. 1986 – 1989 PEAT MARWICK MAIN & COMPANY (International Public Accounting Firm) Los Angeles, CA SENIOR AUDITOR
Responsible for performing and reviewing the detailed audit procedures for certified financial audits and reviews. Responsibilities also included the preparation of financial statements with accompanying footnotes and management letters. Industry experience included the following: entertainment, financial services, manufacturing, non-profit, and transportation.
EDUCATION: B.S., Business Administration, with emphasis in accounting, 1986 California State University, Fresno Graduated Cum Laude
PROFESSIONAL AFFILIATIONS: Certified Public Accountant, California American Institute of Certified Public Accountants
PERSONAL: Born January 31, 1963 Married, 2 children 6’0”, 190 lbs. |