Chief Financial Officer / Senior Financial Executive Public and private corporations from $12MM to $500MM
Innovative, operationally oriented senior financial executive with comprehensive experience in diverse multi-site and multi-national process and discrete manufacturing environments. Fully proficient in all areas of financial management with expertise in mergers, acquisitions, and divestitures as well as start-up, turnaround, and crisis management situations. Extensive experience in risk management, insurance, and employee benefits. Background includes private equity and highly leveraged situations.
Readily adapt to new situations, quickly identifying critical issues and implementing solutions. Relate effectively to individuals at all levels of the organization from the shop floor to senior management. Build strong working relationships with external professionals such as bankers, attorneys, actuaries, brokers, consultants, and accountants.
Mergers, acquisitions, divestitures Workers compensation, plant safety Turnaround, crisis management Treasury functions Cost reduction, process improvement External and internal audit Risk management, insurance Budgeting, forecasting, analysis Cash management International manufacturing Employee benefits Environmental compliance
PROFESSIONAL EXPERIENCE
February 2006 Present $100MM manufacturer of specialized equipment
Vice President Finance, Chief Financial Officer
Manage global financial functions for private equity sponsored corporation with headquarters in Phoenix and manufacturing plants in Mexico. Maintain close relationship with private equity firm in this restructuring and turnaround situation involving highly leveraged complex debt financing. Scope of responsibilities includes financial reporting for private equity group, internal financial reporting, forecasting, budgeting, treasury and cash management, audit, insurance, information technology, and tax matters for operations in the US and in Mexico.
In conjunction with small, focused management team have developed and implemented turnaround strategy resulting in return to profitability, improved manufacturing performance, improved quality, better customer service, and lower operating costs.
Developed cash forecasting process to manage cash rationing and debt compliance during seasonal fluctuations of cash resources. Managed relationships with key suppliers to maintain availability of materials for production in times of cash shortfall. Accelerated global monthly close cycle by two weeks. Synchronized manufacturing standards, cost accounting, and annual budget process. Developed comprehensive analysis and reporting of profitability by customer and product line to support product and market strategies. Reduced cost of property and casualty insurance by 15%.
1997 2006 $500MM US holding company for UK based corporation
Vice President Finance, Chief Financial Officer
Direct financial and administrative functions for US subsidiaries; plastics, metals, rubber, printing, packaging. Scope of responsibilities includes financial reporting US and UK GAAP, audit, tax, treasury, risk management, property and casualty insurance, employee benefits, 401k, and legal matters. Manage compliance and remediation for significant environmental liabilities. Assess potential acquisitions including financial and legal due diligence. Integrate acquired companies into the groups insurance, banking, and financial reporting processes. Coordinate divestitures of subsidiaries including preparation of data rooms, presentations to potential buyers, sale negotiations, and completion account audits.
Implemented cash concentration system freeing up $10MM cash. Cultivated new US banking relationships for global bilateral credit facilities. Refined tax compliance process reducing fees by 25%. Developed and implemented internal audit program. Restructured and renegotiated casualty insurance program. Initiated program of improved awareness for plant safety and workers comp cost drivers accompanied by performance reporting. Reduced cost per employee by 40%. Established US based property insurance program reducing premiums by 35%. Consolidated employee benefits plans generating 20% cost reduction. Consolidated 401k plans resolving compliance issues and reducing fees. Served as interim executive for $100MM subsidiary successfully resolving serious audit issues, reducing operating costs, improving manufacturing performance, and implementing new inventory control systems. Selected to represent US businesses on Global Risk Management Group.
1990 1997 Privately held manufacturer of textile machinery
Chief Financial Officer
Managed all financial and administrative operations of the $12 MM privately held corporation and directed external relationships with auditors, attorneys, banks, and insurers. Served as interim president with full P&L and operating responsibility. Completed Chapter 11 reorganization including negotiations with creditors. Obtained new bank financing to support exit from Chapter 11. Divested assets of non-performing subsidiaries. Implemented restructuring of operations reducing overhead costs by 25%, restoring profitability, and eliminating bank debt.
1981 1990 A diversified Fortune 500 manufacturing company
CFO/Division Controller, Plastics $50 MM division with manufacturing plants in three states. Recruited and trained staffing to establish integrated accounting functions for separately acquired companies. Implemented integrated computer systems to support the combined businesses. Implemented product costing methodology for analysis of market segment profitability.
Chief Financial Officer, Textile Division $30 MM manufacturing and distribution division with eight locations in five countries Resolved serious audit problems by implementing internal financial and operating controls. Reduced headquarters administrative staff from 26 to 15. Accelerated worldwide closing from 15 days to 5. Reduced global receivables from 110 days to 40 days.
Controller, Division Recruited and trained start up administrative staff for $10 MM new venture manufacturing metalized plastic film for the electronics industry.
Manager Financial Planning, Division Prepared budgets, forecasts, long range strategic plans, analytical reports, and acquisition studies for $150 MM specialty paper manufacturing division.
EDUCATION
MBA, Finance and Statistics
BA, with honors in Economics |