SUMMARY
Finance executive with over 20 years diverse experience in public and private companies undergoing significant change. Demonstrated value creation through effective partnership with business leaders, continuous improvement to financial systems and processes, and talent development.
EXPERIENCE
KNOWLEDGE LEARNING CORPORATION, Portland, Oregon 7/06 – 11/07
A $1.7 billion private company consisting of five education-related business units including the KinderCare Learning Centers with 1,800 locations nationwide.
Executive Vice President, Chief Financial Officer
Responsible for all financial functions including financial planning and analysis, accounting, treasury, tax, risk management, internal audit, and purchasing.
- Rebuilt the company’s post-acquisition financial infrastructure including forecasting and budgeting processes, accounting processes and controls, and capital expenditure controls. Reduced monthly accounting close timing by 50% while improving accounting accuracy.
- Implemented significant structural enhancements to Oracle accounting system resulting in vastly improved ability to effectively manage five distinct business units and 23 legal entities.
- Acquired four companies with combined revenue of $60M and led financial integration efforts.
- Initiated tax research that will result in a one-time cash tax benefit in excess of $20M.
- Oversaw SEC compliant financial filings (10-K & 10-Q) and conducted quarterly investor conference calls related to the company’s privately placed (rule 144a) bonds.
MOVIE GALLERY, INC., Wilsonville, Oregon 8/02 – 6/06
A $2.6 billion public company consisting of the Hollywood Video and Movie Gallery movie retail chains with 4,700 stores nationwide.
Senior Vice President, Interim CFO and Treasurer (4/06-6/06)
Senior Vice President, Finance and Treasurer (4/05 – 4/06)
Vice President, Finance and Treasurer (8/02 – 4/05)
As Treasurer, responsible for financial functions including treasury, financial planning and analysis, tax, accounts payable, lease compliance and risk management.
- Selected by acquiring company (Movie Gallery) to lead the merged company’s finance function.
- Drove the integration of the two companies’ finance functions, which yielded over $1M in savings.
- Led key components of proposed leveraged buyout of Hollywood Video in 2004.
- Managed Hollywood’s 2002 recapitalization which included issuing a $225M subordinated bond and syndicating a $250M secured credit facility. Negotiated multiple amendments to the company’s $920M bank facility for financial covenant waivers.
- Implemented improvements to the financial assessment of new stores, resulting in a significant change in managements’ understanding of the economic return of new stores and reduction in store growth plans.
- Developed long-term strategic planning and cash forecasting financial models. Partnered with executive management in developing strategic planning scenarios.
- Designed and implemented new systems spanning three departments to accurately track “return-to-vendor” merchandise to ensure timely collection of over $20M annually.
- Sponsored tax research that resulted in a one-time cash tax benefit in excess of $40M.
KMART CORPORATION, Troy, Michigan 5/97 – 7/02
The publicly-traded Kmart retail stores with sales of $37 billion from 1,800 stores nationwide.
Divisional Vice President, Assistant Treasurer (10/00 – 7/02)
Responsible for structured finance functions including debt and equity issuance, leasing, letters-of-credit, and rating agency relationships. Directed Kmart’s $2.2 billion pension fund and managed subsidiary interests.
- Led key working capital initiative that resulted in a $450M improvement in days payable outstanding.
- Managed two $400M bond offerings and two re-financings of Kmart’s $1.6 billion non-secured syndicated bank credit facility during challenging phases of Kmart’s turnaround effort.
- Negotiated real estate master lease related to the $400M Penske auto centers. Lead finance negotiator for outsourcing contract for BlueLight.com, Kmart’s e-commerce channel.
- Implemented improved balance sheet and cash flow forecasting.
- Directed the annual capital planning and control process for Kmart’s $650M capital plan.
Divisional Vice President, Program Management Office (6/00 – 10/00)
Selected to build company-wide Program Management Office reporting to the CEO to provide clear accountability and oversight of key initiatives. Organized intensive executive project reviews to facilitate on-time, on-target completion and provided project status updates to the Board of Directors.
Divisional Vice President - Finance, Home Business Unit (5/99 – 6/00)
Responsible for development of all sales and margin forecasts, annual and strategic plans, expense budgets, ad hoc analysis and capital expenditure assessments for a $8.9 billion revenue business unit.
- Played key role in the development of improved forecasting and inventory management processes used by 100 buyers and inventory management staff that resulted in a 15% improvement in inventory turnover.
- Created a structured approach to managing promotion gross margin that contributed to a 200 basis point, $16MM gross margin improvement in one division.
Director of Finance, Marketing (6/98 – 5/99)
Responsible for financial reporting, forecasting and analysis of Kmart’s $900M advertising program. Provided recommendations to optimize mix of advertising programs.
Director of Finance, Home Improvement Division (5/97 – 6/98)
Responsible for financial budgeting, forecasting and analysis for $1.1 billion division.
DELOITTE & TOUCHE CONSULTING GROUP, Detroit, Michigan 6/95 – 4/97
Senior Management Consultant
BLUE SHIELD OF CALIFORNIA, San Francisco, California 9/90 – 7/93
Specialist Financial Analyst (1991 – 1993)
Senior Financial Analyst (1990 – 1991)
U.S. GENERAL ACCOUNTING OFFICE, Dallas, Texas 6/87 – 7/90
Consultant
EDUCATION
UNIVERSITY OF MICHIGAN, Ann Arbor, Michigan 1995
MBA, Emphasis in Finance and Strategy. Graduation with High Distinction (top 10%).
UNIVERSITY OF TEXAS AT ARLINGTON, Arlington, Texas 1987
BS Economics |
