EXECUTIVE PROFILE 20+ Years CEO and CFO Experience: Private Equity Owned to Public Companies / $40 to $900+ Million / High Growth / Turnaround.
Broad business leadership background and pragmatic leader
Member of executive management team for the past 20 years for companies that grew rapidly and taken public in diverse industries. Routinely exceeded operating performance goals, capital raising and growth objectives for each employer. Trusted strategic and tactical advisor to Boards and CEOs. Three successful exits for private equity investors totaling more than $2.0 billion.
EXECUTIVE LEADERSHIP COMPETENCIES Strategic Planning & Implementation; Mergers & Acquisitions; Restructuring and Lender Management; P&L Leader / Board Chair; Financial Planning & Budgeting; Private and Public Capital Raising; Investor Relations; IT, Risk, Legal & HR Management; C-Level Executive for Private Equity portfolio companies; Audit Committee Chairman<
PROFESSIONAL EXPERIENCE
HCL Technologies, Ltd. (fka Control Point Solutions, Inc., acquired September 2008) Rutherford, NJ (Restructured private equity owned industry leader providing Business Process Outsourcing of telecom expense management services to enterprise, carrier and government clients; $40 million revenues, 350 employees. Led investor exit in sale to HCL Technologies, Ltd. of Noida, India.)
Chief Executive Officer (June 2005 to Present)
Recruited by private equity investors (ABS Capital) to replace founder of company following strategic merger with competitor. Led the transformation to a service culture, initiated investor exit through a strategic sales process selling company in advance of a refinancing requirement. Recruited executive team to reestablish market leadership, upgrade technology platform and re-ignite growth of stalled business in cash tight leveraged environment.
Effected cultural change while designing revised strategic and restructured operating plans. Recruited professional sales leader and other team members, led rebranding and introduced new services and sales channels. Stabilized technology platform while driving new technology roadmap and development including new features and service offerings to enhance revenue growth utilizing internal cash flows as funding source. Turned around major customer relationships (Citigroup, EDS and GE) leading to doubling of revenues over three years. Chaired board meetings and identified exit strategy while enhancing performance and equity value for investors. Post acquisition, integrated business with HCL¡¦s US operations including sales, HR, finance and offshore support. Business leader for HCL, closing new business and strategic partnerships.
Conexant Systems, Inc. (merged with GlobespanVirata, Inc. in Feb. 2004) Red Bank, NJ (Publicly-traded (NASDAQ) international fabless semiconductor company with $900+ million in annual sales and 2400 employees post merger. Pre-merger sales for GlobespanVirata were $360+ million. Products include integrated circuits and software for broadband communications. Subsidiaries are located in Europe, China, Taiwan, Japan, India and Israel.)
Senior Vice President / Chief Financial Officer Conexant Systems, Inc. (merged company) (Feb. to Aug. 2004); Chief Financial Officer GlobespanVirata, Inc. (merged company) (2001 to 2004) Chief Financial Officer Globespan, Inc.
(1998 to 2001)
Recruited by private equity owner Texas Pacific Group (TPG) as CFO responsible for all financial, administrative, IT and legal affairs when company was privately-held with $30 million in annual sales. Provided the strategic and financial leadership to grow revenues 11,000% to $350+ million over 2 years, took the company public in 1999, successfully weathered dramatically changing market conditions in 2000, and guided company through 2 public mergers as CFO. Became SVP/CFO for latest merged company in 2004. Led integration of administrative and financial functions following merger. Reorganized financial organization, capitalizing on synergies to eliminate $10 million in annual expenses and 40 headcount in the first quarter following the close. Directed all financial and administrative affairs, including financial reporting (GAAP and SEC), financial planning, budgeting, controllership, treasury and investment management, cash and working capital management, risk management, capital raising, Sarbanes-Oxley 404 compliance, and facilities. Primary liaison with Wall Street and investors. Negotiated and closed private equity investments with CISCO Systems and Intel Corp. Supervised staffs of 80-110. Results during tenure include: Implemented the necessary administrative and financial processes and systems to support rapid revenue growth, from $53 million to $353 million in one year; Managed and lead successful IPO and secondary offering for Globespan, Inc., realizing total cash return of $1.3 billion on a $5 million investment for TPG; CFO for the #4 company on the 2000 Bloomberg Tech 100 list of fastest growing companies with 441% annual growth (Globespan); Negotiated and closed 5 private company acquisitions during 1999 and 2000, including an India based corporation and public company mergers with Virata Corporation and Conexant; Made the necessary changes to return the company to profitability after changing market conditions reduced demand for company's products. Restructured operations to realize $70 million in savings over 3 quarters in 2001, and following merger with Virata, an additional annual expense savings of $100 million over 4 quarters, while maintaining market leadership in DSL chip sets. Led negotiation, due diligence and structuring on acquisition of the wireless LAN chip set business of Intersil Corporation for $365 million (2004).
The BISYS Group, Inc. Little Falls, NJ $385+ million publicly-traded (NASDAQ) Business Process Outsourcing company of bank data processing, administration, accounting, and transfer agency services to mutual fund companies, 401k administration and recordkeeping, life insurance underwriting and brokerage services to leading life insurance companies)
Executive Vice President / Chief Financial Officer (1989 to 1998)
Advanced through 3 promotions to EVP as company evolved from a single service provider to a multifaceted business process outsourcer through acquisitions and organic growth. Managed all finance, administration and legal affairs for the company including its IPO and its subsidiary in Ireland. Concurrent with CFO responsibilities, held full P&L and operations management responsibility for Insurance Services line of business generating $40 million revenues and primary revenue growth driver. Identified as successor to CEO. Managed a 300-person organization. Resigned to pursue other private equity backed opportunities.
Member of senior management team that delivered 20% EPS growth year-over-year for 4 of 6 years as a public company. Negotiated, structured and led multiple acquisitions and a public company merger diversifying and growing revenues from $77 million to $385+ million. Managed and led successful IPO in 1992 and follow-on offering realizing total cash return of $500 million on a $25 million investment over 5 years for private equity investor (Welsh Carson). Renegotiated bank credit agreement expanding line of credit amount and easing debt covenants.
Montchanin Management Corporation Stamford, CT and New York, NY(Investment banking firm specializing in middle market M&A and corporate finance advisory services)
Vice President (1986 to 1989)
Top-producing deal-maker providing corporate finance advisory services and leadership in the sourcing, structuring and completing of M&A transactions for client companies in real estate, television and radio broadcasting, wholesale distribution, apparel manufacturing, retail, wine making and other manufacturing.
Titan Sports, Inc. (now WWE Enterprises, Inc.) Greenwich, CT (Start-up entertainment company with the brand name World Wrestling Federation)
Vice President, Finance (1983 to 1986)
Managed financial matters, including accounting, budgeting, financial reporting, contracts and licensing for an entrepreneurial television syndication and event promotion business. Member of management team that grew company from $7 million (1983) to $85 million (1986). Negotiated exclusive cable network agreement and licensing arrangements, including network cartoon series, toys and other merchandise.
Barnes Engineering Company, Inc. (now part of EDO Corporation)
Treasurer (1982 to 1986) Stamford, CT
Combustion Engineering, Inc. (now part of ABB)
Internal Auditor (1977 to 1982) Stamford, CT
Caldwell Communications, Inc.
Finance Manager ¡V (1976 to 1977) New York, NY
ADDITIONAL
Independent Trustee and Chairman and Audit Committee Financial Accounting Expert:
AmSouth Funds, an open-end mutual fund complex with $6 billion in assets until its sale (2001-2005).
Amex-listed Bancroft Convertible Fund, Inc. and Ellsworth Convertible Growth and Income Fund, Inc. each with $100+ million in assets closed-end funds (2004-2007) (Audit Committee Chairman).
EDUCATION
Saint Michael's College Colchester, VT Bachelor of Arts, Business Administration |
