SENIOR FINANCIAL EXECUTIVE
Chief Financial Officer, Vice President ¡V Finance, Corporate Controller
PROFESSIONAL EXPERIENCE
Lexmark International, Inc, Lexington, KY 3/97 to 3/08
Vice President, Finance; Lexmark International, Inc. (6/07 to 3/08)
Senior financial executive reporting to the Chief Financial Officer of Lexmark (NYSE:LXK), a $5.0 billion Fortune 500 technology company. Responsible for the financial operations and planning for the $2.0 billion consumer products and $3.0 billion business solutions and services divisions in addition to corporate level decision support and support of investor relations, external reporting and treasury activities. Led global team of approximately two hundred finance professionals in various corporate and division headquarters, geography sales subsidiaries and plant level operations.
- Consolidated financial operations and planning teams across division and corporate planning functions. Built teams structured to provide optimized support of operations using common processes while reducing cost by 30%.
- Implemented common worldwide pricing process and pricing component of Siebel CRM application to optimize pricing decisions improve sales support and improve business controls.
- Implemented shared service center for global cost accounting functions to reduce cost and improve operations support.
- Performed rationalization analysis on activities of unprofitable business segment resulting in the exit of unprofitable products, customer segments and geographic markets and improved focus on higher return products and customers.
Vice President, Finance; Printing Solutions & Services Division (1/01 to 6/07)
Senior financial executive reporting directly to the President of this $3.0 billion division, which develops, manufactures and markets printer hardware, associated consumables, software and services to business customers. Service offerings include customer support services, business process improvement centered on document workflow and print management outsourcing. Approximately 60% of revenues are derived from international operations.
Led team of over one hundred finance and accounting professionals in North America and Europe with complete financial responsibility over activities including planning, pricing, accounting, reporting, analysis and control. Led annual strategic and business planning processes and provided executive team with recommendations and insight into business model dynamics, impact of strategic initiatives and objective setting. Provided decision support for strategic decisions including capital expansion, product sourcing, product planning and pricing and negotiation and contract support for alliances with key partners such as Dell and IBM.
- Financial member of executive team responsible for accelerating revenue and profit growth. Focus on product cost reduction, optimizing infrastructure, expense prioritization and control and profitable growth resulted in a several percentage point improvement in operating return on sales over a four year period.
- Supported business development initiatives including product expansion into print management and workflow services, software solutions, color laser, multi-function and thermal printer segments and market expansion into small and medium business channels and strategic alliances. Support included investment analysis, business model development, infrastructure and process development, pricing, contracts and performance management.
- Key participant in cross-functional teams focused on reduction in working capital. Improvements in inventory days of supply, accounts receivable days sales outstanding and supplier credit terms resulted in a 40% improvement in cash cycle over a four year period.
- Supported reorganization of operations during consolidation of three separate operating units into a division. Consolidated financial functions and improved processes resulting in a 40% decrease in overall headcount and 55% reduction in managers while improving quality of reporting, analysis and business controls.
- Led the worldwide implementation of Sarbanes Oxley compliance processes for division.
- Led financial efforts in the acquisition of resellers in emerging markets including eastern Europe, Africa and the Mid-East including financial modeling, valuation, negotiation strategy and integration plans.
Director, Corporate Financial Planning (2/98 to 1/01)
Financial executive reporting to the Corporate Controller. Responsible for worldwide financial planning including the coordination of the annual strategic and business planning process. Served as a resource to senior corporate executives in decision support, business modeling, analysis of operating results and establishing financial forecasts and financial performance objectives.
- Led financial elements of a restructuring of operations in 2000 resulting in $100 million annual savings.
- Reengineered strategic and business planning processes resulting in improved worldwide communication, decreased cycle time and integration of market growth opportunities and portfolio analysis of business initiatives into process.
- Implemented economic value add (EVA) performance metric. Integrated EVA into planning processes, business investment cases, capital structure decisions and financial performance metrics.
- Executive champion for the implementation of Hyperion Enterprise consolidation and reporting system. Established project scope and directed implementation team. Implementation resulted in consolidation and financial reporting efficiencies and increased visibility to elements of worldwide infrastructure and expense trends.
Manager, Manufacturing Finance; Business Printer Division (3/97 to 2/98)
Senior financial manager reporting to the Vice President, Finance. Responsible for the global operations controllership function for worldwide printer and cartridge manufacturing and supply chain operations.
- Led cost accounting segment of JD Edwards system implementation including conversion to standard costing and the reengineering of financial processes. Provided training and implementation leadership to financial and operations management enabling teams to utilize new information to set and monitor operational objectives and analyze costs.
- Implemented inventory control processes resulting in over 60% reduction in annual inventory shrink.
- Developed and implemented activity based approach for the assignment of manufacturing and supply chain costs to individual cost drivers and products. Resulted in improved knowledge of product costs and focus on cost drivers.
- Key participant in the start-up of contract manufacturing operation in Mexico. Developed financial processes and transaction flow, implemented controls and established operations measurements.
- Assumed key leadership role in cross-functional total cost improvement team. Led and coordinated financial processes with operations management including objective setting, opportunities sizing and prioritization and measurement of results. Team activities contributed to 1998 division cost reduction of $40 million.
Newell Rubbermaid ¡V Amerock Division, Rockford, IL 8/94 to 3/97
Financial manager reporting to the Vice President/Controller of this $200 million division of Newell Rubbermaid (NYSE:NWL), a Fortune 500 consumer products company, which manufactures, markets, and distributes cabinet and window hardware to retail and industrial customers.
Manager, Manufacturing Accounting (9/95 to 3/97)
Responsible for operations controllership, accounting and financial planning functions for multi-plant manufacturing and distribution operations. Guided and supported supply chain decisions including sourcing, cost reduction, capacity planning and capital expenditures.
- Implemented inventory control processes resulting in over 50% reduction in annual inventory shrink.
- Led SKU rationalization project that enabled the business to focus sales and operations resources on products that delivered the highest levels of volume and profit.
- Key member of ISO 9001 implementation team leading to first time certification in 1997. Developed and implemented internal operations audit processes resulting in improvements in work instruction compliance and product quality.
Manager, Financial Planning & Analysis (8/94 to 8/95)
Responsible for financial accounting, reporting, planning, analysis and decision support for division. Performed financial analysis of customer and product line profitability in support of business deals and controlled related pricing and business development investments.
„X Implemented activity based analysis tools to determine financial impact of new products, marketing programs and business opportunities. Worked cross-functionally with sales and marketing teams to combine financial impact tools with planogram and customer inventory optimization to improve financial returns to Amerock and retail customers.
„X Performed due diligence, provided negotiation support and assisted in integration for the acquisition of window hardware components manufacturer.
Lisa Frank, Inc., Tucson, AZ 11/93 to 5/94
Manager, Financial Planning & Analysis
Financial manager reporting to the Vice President-Operations of this $30 million privately held consumer products company. Responsible for the overall management of finance and accounting operations including decision support, cash management, banking relations and audit coordination.
- Key participant in the implementation of ERP system and reengineering of financial and operations processes.
- Designed and implemented activity based costing methodology for product costing, performance measurement system for monitoring production efficiency, models for the analysis of customer and product line profitability and a labor distribution system to measure productivity within the art and creative departments.
Price Waterhouse, Milwaukee, WI 6/88 to 11/93
Audit Manager
Responsible for the planning and execution of financial audits to middle market manufacturing and technology companies. Participated in acquisition services offerings including development of acquisition strategy, business modeling, financial projections and due diligence.
- Achieved accelerated performance based promotions at both the senior accountant and manager level.
- Served as instructor for various accounting topics at Price Waterhouse national continuing education programs.
- Served as interim controller for electronics manufacturing client during a consolidation of operations that resulted in turnover of financial management. Resolved inventory related accounting issues and developed financial models to assist in product line and operations rationalization decisions and in preparing elements of the business for sale.
ADDITIONAL EXPERIENCE
Platoon Leader/Officer, U.S. Army Reserve, Washington, IA 3/84 to 12/87
Platoon Leader/Officer, Iowa Army National Guard, Dubuque, IA 1/80 to 3/84
Faculty Lecturer/ Teaching Assistant, The University of Iowa, Iowa City, IA 1/87 to 6/88
EDUCATION
Master of Arts ¡X Accounting ¡V University of Iowa, Iowa City, IA, 1987
Bachelor of Business Administration ¡X Accounting ¡V University of Iowa, Iowa City, IA, 1985
Strategic Leadership Program ¡V Center for Creative Leadership, Colorado Springs, CO, 1999
Certified Management Accountant (CMA), 1989
Certified Public Accountant (CPA), 1986 |
