CFO / SENIOR FINANCE & ADMINISTRATION EXECUTIVE
14+ Years’ CFO, Controllership, and Corporate Administration Experience
7+ Years’ Public Accounting and Auditing Experience
Diversified Product and Service Companies / Fortune 500, Public, and Pre-IPO
Seasoned Chief Financial Officer with multi-industry experience (business services, manufacturing, technology, telecommunications, energy, healthcare, waste disposal and construction) leading and strengthening the corporate finance and administration functions for public and private companies with up to $600 million in revenues. Demonstrated ability to make immediate improvements in strategic direction, cash flow, cost reduction, efficiency, internal/external reporting, and capital structure. In-depth experience across all corporate finance, accounting, tax, and treasury functions. Scope of responsibility has extended beyond finance to include operations, legal, administration, HR, and IT. Very strong M&A and capital raising track record. CPA.
Financial and General Management Strengths:
Corporate Finance, Treasury & Accounting
Taxation, Legal and Risk Management
Multi-Site Operations Management
Strategic Planning & Implementation
Corporate Administration & Governance
Financing / Capital Raising / IPO
Mergers / Acquisitions / Divestitures
SEC Reporting & Compliance
Investor Relations
Internal Systems & Controls / SOX Compliance
PROFESSIONAL EXPERIENCE
SHARPS COMPLIANCE CORP. – Houston, TX 2003 to Present
(Leading manufacturer and provider of products and solutions designed for the proper disposal of medical waste by industry and consumers)
Executive Vice President / Chief Financial Officer and Business Development
Full responsibility for the leadership and management of the corporate finance and administration functions for this public company. Recruited by Board of Directors to (i) diversify and grow the customer base, (ii) raise capital to fund growth, (iii) improve Company profitability and financial performance, (iv) improve shareholder communications and (v) implement new integrated operations and accounting systems. Direct accounting, tax, legal, risk management, investor relations, treasury, banking, Sarbanes-Oxley compliance, and human resources functions. Implemented successful SOX corporate governance program and Section 404 internal controls project. Recently launched an acquisition initiative to identify, negotiate and close opportunities designed to supplement the Company’s 25% organic growth with strategic acquisitions.
Met all objectives to date, including:
Challenge: Diversify and grow customer revenue base outside of the Company’s core home healthcare business.
Results: New market revenue increased from 10% of total revenue in 2003 to 35% of revenue in 2006.
Challenge: Raise capital to fund operations, growth and acquisitions.
Results: Led a successful equity fund raise… Secured a working capital and acquisition line of credit with JPMorgan Chase Bank…….Implemented cash management procedures that improved cash flow by more than 25%.
Challenge: Improve Company profitability through increase in revenue and gross profit while controlling S, G & A.
Results: Revenue increased 85% & gross margin up by 10 basis points; dramatic improvement in results (2002 – 2006).
Challenge: Improve shareholder and investor communications.
Results: Launched successful investor relations program resulting in 200% improvement in daily trading volume.
BILLINGS CONCEPTS CORP. (sold in 2004) – San Antonio, TX 1999 to 2004
($200 million NASDAQ-traded telecommunications and technology company. Divisions included telecommunications billing, electronic bill presentment and payment, telecommunications software, semiconductor testing equipment, e-finance software and services.
Note: Managed finance and administration for two public companies concurrently from March 2003 to June 2004. This position was concurrent with CFO position for Sharps Compliance Corp (see above).
Executive Vice President / Chief Financial Officer
Senior finance and administration executive recruited to lead aggressive transformation from a telecommunications billing and software company to a diversified technology provider. Broad scope of responsibility included accounting, tax, budgeting, financial planning and analysis, treasury, banking, mergers and acquisitions, investor relations, HR, legal, risk management, corporate governance, and administration.
Challenge: Meet changing market dynamics by transforming company from a telecommunications billing, software, and call center service provider to a diversified technology company.
Results: Led business development, corporate finance, negotiation and deal structuring efforts for 7 acquisitions to date in diverse lines of business amounting to approximately $100 million… New lines of business are currently delivering a 50% revenue growth rate… Successfully divested 3 operating groups despite a declining industry (telecommunications billing services, software, and call center businesses) representing $170 million in revenue… Structured transactions to generate significant growth capital for new business opportunities and an additional $6.6 million in cash from tax refunds.
Challenge: Meet or exceed ever-increasing standards for accuracy and clarity in financial reporting and compliance.
Results: Took initiative to implement policies and procedures that fully comply with new corporate governance rules including those enacted by Sarbanes-Oxley, SEC, NASDAQ, and FASB. Developed corporate governance analyses and action plan documents that have been adopted by 3 public companies to ensure compliance.
U.S. LEGAL SUPPORT, INC. – Houston, TX 1997 to 1999
(A leading provider of legal support and staffing services for law firms, corporations and insurance companies)
Executive Vice President / Chief Financial Officer
Recruited by majority shareholder to plan, organize and develop effective and efficient finance, accounting, and administration functions and complete a stalled IPO for the $70 million company and its 14 divisions with offices in 5 states. Managed a staff of 18.
Challenge: Revive a stalled IPO.
Results: Rapidly gained confidence of underwriters (NationsBank Montgomery Securities, H&Q, J.C. Bradford), research analysts and bankers… Cleared SEC review process winning all significant accounting issue raised… Negotiated a $30 million credit facility… Redirected efforts toward raising private equity funds for the highly leveraged organization when planned IPO was delayed due to volatile capital markets.
Challenge: Improve efficiencies of the financial and administrative functions.
Results: Orchestrated successful integration of the 14 founding companies… Reorganized all financial and administrative departments… Developed operational reporting systems necessary to support growth… Centralized all “back office” administrative functions previously performed at the operating level… Completed successful conversion of operations and accounting technology systems.
SERV-TECH, INC. (sold in 1997) – Houston, TX 1994 to 1997
($300 million, NASDAQ-traded specialty services and products company. Lines of business included maintenance services for energy and petrochemical markets; engineering procurement and construction; specialty environmental services and products. Sold to consolidator in July 1997)
Senior Vice President – Finance & Administration / Chief Financial Officer
Senior Finance and Administration executive for the company and its subsidiaries with 15+ offices in the U.S., South America and the UK. Financial scope of responsibility included accounting, budgeting, internal/external reporting, financial planning, M&A, tax, banking, treasury, investor relations, and risk management. Administration accountability included HR (3,000 employees), legal, and corporate governance. Supervised a staff of 110 through 10 direct reports.
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Challenge: Obtain the required financing within 3 weeks of hire to retain an $83 million contract award that was in jeopardy.
Results: Structured, negotiated, and completed financing for the $83 million international project while company was generating an operating loss… Obtained $35 million in performance, advance payment, and commercial letters of credit under new banking relationship… Negotiated $56 million LOC securing fee payment to Serv-Tech on international project and secured $50 million in political risk insurance.
Challenge: Enhance competitive position in a rapidly changing and consolidating industry by transitioning corporation from a loose organization of 20 entrepreneurial companies into an integrated provider of specialty services and products worldwide.
Results: Won Board of Directors’ approval and managed an aggressive merger process… Enhanced shareholder value 325%.
Challenge: Significantly reduce operating costs and improve asset management without sacrificing service quality.
Results: Spearheaded aggressive cost reduction initiatives that reduced overhead from 19% of revenues to 14% (a $5+ million savings)… Led comprehensive evaluation of operating units and assets deployed throughout the corporation, resulting in a $12 million balance sheet restructuring.
Challenge: Appointed by Board of Directors to co-lead the organization along with Chairman in addition to CFO responsibilities following CEO’s resignation in 1996.
Results: Credited with significant contribution to company’s record quarterly revenues ($70 million) and earnings (.25 per share) in first quarter of 1997 (prior to sale and reorganization).
CRSS, INC. – Houston, TX 1990 to 1994
(Fortune 500, NYSE-traded diversified company with subsidiaries in design, engineering & construction; independent power; cogeneration; insurance; and pollution control segments)
Corporate Controller
Recruited by former audit client to direct all controllership functions for the $600 million corporation and its subsidiaries. Supervised 3 Group Controllers and an 83-member finance, accounting and administrative staff in 3 decentralized accounting groups. Led corporate accounting, tax, budgeting, financial and business planning, mergers and acquisitions, internal/external reporting, SEC filings and compliance, and internal/external audit affairs.
Challenge: Build a top-flight, cost-efficient corporate finance and accounting function.
Results: Established a first-class finance function by challenging old paradigms and making sweeping changes impacting staff, technology and processes… Reduced IT expense 70% ($2.2 million) by co-managing (with IT Director) accounting system conversion from mainframe to client server environment with Oracle software… Cut payroll costs 50% by outsourcing the payroll function.
Challenge: Spearhead corporate growth and development.
Results: Evaluated, structured and negotiated numerous acquisitions, including a $75 million North American engineering and construction firm and a $20 million Pacific Rim engineering services company… Justified to Board of Directors divestiture of the CRSS group of insurance businesses and led entire divestiture process…. Generated $8.9 million in cash to fund expanding businesses.
Earlier public accounting and auditing experience as an Auditor and Senior Audit Manager with KPMG. Led audits for companies with $15 million to $5 billion in annual revenues in energy, engineering and construction, business services, media, and biotechnology industries (1983 to 1990).
EDUCATION
UNIVERSITY OF HOUSTON – Houston, TX
Bachelor of Business Administration, Accounting (1982)
Certified Public Accountant • Passed all parts on first attempt
PROFESSIONAL AFFILIATIONS
American Institute of Certified Public Accountants (AICPA), Financial Executives Institute (FEI) |
