PROFILE
Finance Director/Controller for technology P&Ls to $800M and a $1.5B global warranty program > CFO, $10M e-learning software company > expertise in equity funding; Board/financial market communications; international accounting; regulatory compliance; and intellectual property rights.
CORE COMPETENCIES
Operational Re-design
At 3Com implemented major cross-functional programs including an innovative new regional line-of-business focused on an integrated leasing solution for voice, data and dial tone capabilities to end users…grew business to $1.5M in first quarter of sales.
Business Start-Ups
As CFO of X.HLP, built US infrastructure, wrote/presented business plan, won $14M from US/European VCs, created software licensing structure, and negotiated major contracts with Global 1000 customers…as global sales grew from $1M to $10M in two years.
P&L Finance
Built the finance infrastructure and forecast/report/control processes; tracked key business indicators; and balanced investment strategies across multiple product lines
…for a semiconductor business that doubled unit volume and grew to $500M in two years.
Financial Planning & Analysis
Developed corporate investment guidelines, company-wide budgeting/reporting architecture, and IR/Executive Committee/Board communications…as Digital transformed its leadership team and operating model in a turnaround mode.
M&A
Led due diligence, deal valuation, partner assessment, negotiation tradeoffs, and management of investment bankers, attorneys, outside auditors, and internal staff…for sale of two Digital semiconductor businesses to Intel and Motorola, with a combined value of $1.2B.
EDUCATION
MBA, Whittemore School, UNIVERSITY OF NEW HAMPSHIRE 1977
BS, Electrical Engineering, UNION COLLEGE 1971
EXPERIENCE
3COM CORPORATION, Marlborough, MA 2003-present
$1.3B global provider of enterprise class security, networking and IP Telephony solutions.
Senior Director of Finance, North America Controller 2006-present
Selected to revitalize North American Regional finance function after a period of limited business partner support; led finance team of three direct/one indirect reports.
Key Result: Member of Regional Management team responsible for delivering only WW Region with above plan results for FY07
> Established formal monthly business reviews with full NA management team…enabled identification and accountability for key P&L metrics.
> Integrated finance team into NA business and Corporate functions…cited for excellence in reestablishing team influence and productivity.
> Implemented a new line of business in NA requiring new partner contracts with leasing institutions, dial tone service providers, billing platform providers and entirely new business control processes…generated sales of $1.5M in first quarter of business operation.
> Drove process to transition multiple end users from defunct 3Com partner while ensuring minimal financial, legal and PR exposure occurred…mitigated potential exposure of $25M down to $2M.
Senior Director of Finance, Operations 2003-2006
Initially recruited to lead the worldwide Service finance organization of a $30M+ business. Promoted to lead the company’s product, supply chain, service and central finance functions to provide full line-of-sight for total gross margin; led finance team of four direct/six indirect reports.
Key Result: Negotiated, closed and supported implementation of strategic $150M, 7 year agreement to provide end-to-end global service capabilities to 3Com’s customers
> Partnered with VP Global Service and Director of Operations to identify, conduct due diligence, negotiate, and implement a strategic services agreement with Siemens Business Systems…awarded performance bonus for closing seven-year, $150M contract.
> Developed new financial/reporting architecture with clear metrics for the Product Management Organization…enabled shift from engineering/development focus to full P&L accountability.
OCEAN COVE ASSOCIATES, Partner, Danvers, MA 2002-2003
Member of venture backed management team that negotiated acquisition of $4M software and professional service company focused on medical data/forms automation, imaging and archiving.
VP Finance, Chief Financial Officer
Drove key financial and operational processes during negotiation and acquisition phase for a 10 year old, EBITDA positive owner started company with proprietary technology in healthcare industry.
Key Result: Identified target acquisition company with scalable growth potential and negotiated all deal requirements.
> Negotiated letter of intent and asset purchase agreements…met original objectives of seller.
> Secured $3M equity/debt funding and $1M line of credit…obtained under difficult market environment.
> Selected legal, accounting and banking firms for deal and subsequent support…established excellent business partner relationships.
X.HLP, Oslo, Norway & Waltham, MA 2000-2002
$10M VC-funded provider of simulation software for web-based training in the use of proprietary and third party enterprise applications, with a primary market focused on the Global 1000, and engineering/sales/marketing operations in the US and Europe.
VP Finance, Chief Financial Officer & Treasurer
Recruited to lead Finance across the company, with a special focus on the launch of US operations. US responsibilities included IT, customer support, HR, legal, and real estate; four direct reports.
Key Result: Served on new management team that drove US revenues from zero to $3M and global revenues from $1M to $10M.
> Created global business plan/financial presentation…secured Euro10M in funding from Scandinavian venture capitalists, and $5M commitment from US investor.
> Built US financial controls/systems, banking relationships, benefits programs, facilities infrastructure and selected new global auditors…launched operations in three months.
> Approved pricing/set Terms & Conditions for all licensing/support agreements…supported wins with premier customers, including Pfizer, AT&T, Schering-Plough, Fleet, Liberty Mutual, and ADP
COMPAQ COMPUTER CORPORATION, Houston, TX 1998-2000
$38B global provider of computer hardware, software, systems, and services.
Director of Finance, Worldwide Warranty Services
Retained following acquisition of Digital to lead finance for the $1.5B worldwide warranty service program; managed eight staff in the US, Europe, Latin America, and Asia.
Key Result: Built processes/controls critical to reducing warranty cost from 4.7% of revenue to 3.4%.
> Led financial integration of Compaq, Tandem, and Digital warranty programs, including winning agreement on consistent costing for all services…saved $200M+ over five quarters.
> Automated reserve management process…cut fiscal closing from five days to four hours.
> Improved management reporting system…cut reporting cycle from 14 weeks to five.
DIGITAL EQUIPMENT CORPORATION 1981-1998
$14B global computer manufacturer; acquired by Compaq in June 1998.
Controller, Semiconductor Product Lines 1996-1998
Directed reporting, planning & analysis, budgeting, and asset management for five product lines manufactured in US and UK, generating $500M from internal/external customers; led six staff.
Key Result: Provided day to day Finance leadership in preparing Digital’s semiconductor business for sale to Intel.
> Partnered with GM to transform business from an engineering cost center to a P&L…shifted key financial metrics from R&D spending to profitability and improved audit to satisfactory.
> Led due diligence for $1B+ Intel agreement…provided ‘value of the deal’ analysis for Wall Street and Board; participated in all negotiating sessions; testified in FTC hearings.
> Won CFO Award…cited for outstanding performance in support of Intel transaction.
Manager, Strategic Finance, Semiconductors 1993-1996
Led long-range planning, including investment/divestment strategy and ten-year ROI analysis for $250M division producing Alpha/non-Alpha chips for internal use.
Key Result: Reassessed strategic importance of semiconductor business.
> Partnered with manufacturing, engineering, and supply chain management to rewrite business plan…as sales to external customers tripled to $150M.
> Directed C&L analysis of chip manufacturing capacity…led to divestiture of one of two plants.
> Won company’s first CFO Award…presented to finance team for Motorola deal.
Finance Manager, Corporate and Educational Services Finance 1981-1993
Directed corporate finance organization with thirty-five staff and a $3M expense budget, providing consolidated management reporting of company-wide financials.
Key Result: Reengineered key financial processes during reorganizations, analyzed and communicated complex financial data and ran Service P&L
> Directed corporate finance organization with thirty-five staff and a $3M expense budget, providing consolidated management reporting of company-wide financials.
> Led five senior finance specialists in analysis/forecasting of company-wide P&L, balance sheet, and cash flow; developed IR, Executive Committee, and Board communications.
> Provided CFO and Corporate Controller with on-going review and risk assessment of proposed business and product investments, totaling upwards of $200M annually.
> Directed business planning, reporting, budgeting, accounting, investment analysis, internal controls, and fiscal support for $75M profit center; managed six direct reports.
DANVERS PATHOLOGY ASSOCIATES, INC., Danvers, MA 1979-1981
Business Manager
Key Result: Played key role in new concept launch.
> Led operations of start-up medical franchise business; negotiated rates with reimbursement agencies; implemented computerized payment systems; renegotiated line of credit.
PEAT, MARWICK MITCHELL & CO., Boston, MA 1977-1979
Senior Accountant, Small Business Advisory Services Department
Key Result: Gained foundation in Finance.
> Provided audit, tax, and consulting services to diverse retail, manufacturing, media, and brokerage clients. |
