CHIEF FINANCIAL OFFICER & CHIEF INFORMATION OFFICER
Successful in Building, Growing, and Reengineering Companies
Senior executive with operational, financial, and IT experience, domestic and international, with Fortune 500 companies in consumer products, manufacturing, distribution, high-tech, retail, franchise, healthcare, and service industries. Broad corporate and business experience in strategic, operational, and IT planning, reengineering, mergers & acquisitions, MIS, treasury, tax, legal, accounting, SEC/SOX, public accounting, audit, investor and human relations. Energetic and incisive in solving problems. Creative, tech-savvy businessman, executive partner, principled leader who achieves results and improves profits.
MANUFACTURER - Chicago, Illinois 2006 - Present
$280 million NYSE, global manufacturer of material based solutions with 6 plants and 600 employees.
SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER & CHIEF INFORMATION OFFICER and CORPORATE SECRETARY
Reporting to the CEO, in charge of of all accounting, treasury, M&A, planning, tax, information technology, risk management, internal audit, investor relations, legal, operational and financial services.
- Benchmarked, reengineered, and top graded finance and IT; deployed best practice with Sarbanes-Oxley compliant policy & procedures and developed a high impact, customer focused team.
- Developed MIS strategy replacing six disparate systems previous management had toiled with for six years with one integrated ERP/Management Information System (Infor & Hyperion) with scorecard reports and ROI of 30%. Negoiated new global IT contracts saving over $1 million in one year.
- Strengthened internal controls and streamlined processes, eliminated inherited 16 material weaknesses and SEC inquiry, reduced external audit fees 37% and internal audit staff and hours 64%.
- Developed and executed tax strategy that reduced effective tax rate 23 p.p. to 26% saving $1 million in 1 year.
- Completed $30 million credit facility for expansion; decreased DSO and DSI while increasing cash and accretively repurchasing over $6.5 million of company stock.
HEALTHCARE STAFFING – Oakbrook Terrace, Illinois 2002 – 2006
$425 million, largest private (The Carlyle Group) provider of healthcare staffing services, 85 branches, 6,000 employees.
SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER & CHIEF INFORMATION OFFICER
Reporting to the CEO, in charge of all accounting, treasury, M&A, planning, tax, audit, IT, risk management, real estate, legal, operational and financial services.
- Benchmarked and reengineered finance and IT; deployed best practices with Sarbanes-Oxley compliant policy and procedures that increased productivity by 30% and created a high impact, customer focused team.
- Completed $20 million credit facility expansion; decreased DSO by 35% to 40 days, a historic low and industry’s best, accelerating cash $14 million, saving $2 million in annual interest and bad debt expense.
- Gained Board approval for appointment of new independent auditor (E&Y), audit committee charter, and tax restructuring that reduced taxable income by $4 million.
- Developed MIS strategy with steering committee, systems portfolio ROI review & development (Rational). Implemented scaleable front/back office system (PeopleSoft, Hyperion, VOIP, Document Management) and infrastructure (central servers, DSL/IP) with scorecard reports and ROI of 385% that facilitated acquisitions.
- Reviewed all vendor contracts and negotiated new national contracts saving $2 million annually.
- Implemented risk management strategy and practices that reduced insurance premiums by 38% for over $1 million annually. Negotiated new medical benefit plans that held costs flat while improving benefits.
- Developed strategy and sold new Partnerships that grew at a triple digit rate to $65 million over 3 years.
- Performed due diligence and completed major acquisitions that doubled the size of the company while more than tripling stockholder value and resulting in the sale of the company.
BROADBAND COMAPNY - Chicago, Illinois 2001 – 2002
Public, largest USA provider of satellite digital video and data services to multi-dwelling units in 15 states.
CHIEF FINANCIAL OFFICER & CHIEF INFORMATION OFFICER, CHIEF OPERATIONS OFFICER
Consultant for investment bankers in charge of all finance, accounting, treasury, planning, tax, information technology, risk management, operational and financial services.
- Developed financial, operational, and IT strategies to support the venture capital’s roll-up strategy, first acquisition, and public offering. Created blueprint for new CRM/financial systems & reports.
- Benchmarked and reengineered operations, finance, and IT organization and processes; increasing productivity 50%. Outsourced call center for over 50% expense reduction.
BURNS INTERNATIONAL SERVICES CORPORATION - Chicago, Illinois 2000 – 2001
$1.4 billion NYSE, international, largest USA based provider of physical security, 350 offices, 80,000 employees.
VICE PRESIDENT, CHIEF FINANCIAL OFFICER & CHIEF INFORMATION OFFICER
Reporting to Chairman & CEO, in charge of accounting, treasury, planning, tax, IT, risk management, financial and operational services, purchasing, internal audit, & investor relations. Managed 220 through 9 direct reports.
- Developed turnaround strategy that doubled shareholder value; completed sale to Securitas for $650 million.
- Strengthened balance sheet by reducing debt 27% and DSO by 20 days while revenues increased 7%.
- Created action plans that rescued ERP system implementation and developed new MIS strategy.
- Benchmarked, reengineered, and upgraded finance and IT; creating a new, customer focused team.
ANIXTER INTERNATIONAL INC. - Skokie, Illinois 1996 – 2000
$3.2 billion NYSE, largest global provider network integration services and distributor wire & cable, 165 branches, 5,167 employees and 100,000 customers.
VICE PRESIDENT, CORPORATE CONTROLLER & CHIEF ACCOUNTING OFFICER
Corporate Officer responsible for worldwide accounting, planning, financial systems, internal and external reporting. Managed 114 through 4 direct reports and indirectly 4 global business VP’s Finance.
- As Europe CFO, reengineered processes, developed turnaround strategy, improved profits 100%.
- Implemented global financial services strategy; provided technical direction for implementation of PeopleSoft ERP Financials, HRIS, and Hyperion software in USA & 40 European/Asian countries, yielding a 90% IRR.
- Benchmarked, reengineered, upgraded finance organization and processes; increasing productivity 15% per year and reducing cycle times by 50% of the accounting close, reporting, and planning processes.
- Designed multidimensional chart of accounts with ABC and scorecard reports highlighting department, product, market, and customer profitability with ROTC by business segment -- receiving Board praise.
- Performed analysis and due diligence on two acquisitions that added $80 million in sales and the successful sale of the integration business segment for $216 million and after tax gain of $46 million.
BUDGET RENT A CAR CORPORATION (Owned by Ford Motor) - Lisle, Illinois 1992 – 1996
$2.5 billion, third largest, global company-owned/franchise vehicle rental company, 3,500 locations, 205,000 vehicles.
VICE PRESIDENT, CORPORATE CONTROLLER
Corporate Officer in charge of all finance, accounting, planning, reporting, tax, credit, and financial systems. Managed 135 through 6 direct reports and indirectly 8 global business finance directors.
- Developed business plan and turnaround strategy that improved profits 110% in 2 years.
- Benchmarked, reengineered, streamlined 50%, and upgraded finance creating a high impact team.
- Implemented $10 million system with 1-yr. payback using client/server/imaging/workflow technology.
- Established Budget Funding Corp. to issue commercial paper for 2 p.p./$20 million interest savings.
- Completed international tax restructuring for $10 million in tax savings.
- Reversed losses and turned around Budget credit card operations, increasing profits 125% in 1 year.
- Changed self-insurance policies and subrogation/claims collection activities saving $40 million/year.
ALLSTEEL INC. (Subsidiary of BTR PLC - London, UK) - Aurora, Illinois 1990 – 1992
$215 million, fourth largest, international manufacturer and distributor of office furniture, 600 dealers, 50 sales offices, 5 plants.
VICE PRESIDENT FINANCE, CHIEF FINANCIAL OFFICER
Reporting to the CEO, Corporate Officer in charge of all finance, general/cost accounting, planning, reporting, tax, treasury, credit, pension, insurance, audit, and MIS functions. Managed 40 through 4 direct reports and indirectly 5 business controllers.
- Directed $3.5 million project with payback of 16 months that decentralized the company into 6 profit centers and installed new IBM AS400 based finance, MRP manufacturing, and cost systems.
- Reduced headcount 33% while creating a respected, high impact decentralized team that reduced close by 2 days; provided financial and product profitability statements for 6 new profit centers.
- Developed business plan and price/cost strategies for major introduction of a complete, new line of office furniture that won 5 national awards with first year sales exceeding $30 million.
- Changed pension fund strategies and managers, reversing losses and realizing a 15% gain on a $30 million fund in 6 months. Decreased receivable DSO 10 days to below industry average.
- Closed wood furniture subsidiary and outsourced manufacturing thereof, saving $2 million/year.
THE PILLSBURY COMPANY - Minneapolis, Minnesota 1984 – 1990
$7 billion NYSE global, consumer products company with 6,500 restaurants (Burger King, Bennigan’s, Steak & Ale), 65 plants (Pillsbury, Green Giant, Totino’s, Jeno’s, Van de Kamp’s, Haagen-Dazs), 100,000 employees.
CONTROLLER & CIO - The Haagen-Dazs Company Subsidiary in Teaneck, New Jersey 1988 - 1990
DIRECTOR OF FINANCE - The Haagen-Dazs Company Subsidiary in Teaneck, New Jersey 1987 - 1988
Member of senior management team in charge of all finance, general/cost accounting, planning, reporting, treasury, tax, and MIS functions of this $370 million international manufacturer, distributor, retailer, and franchiser of consumer products. Managed 60 through 6 direct reports & indirectly 7 business controllers.
- Dramatically reengineered, upgraded and streamlined finance and MIS organizations and processes; developed MIS Strategic Plan; created high impact professional team with vision and customer focus.
- Developed plan and price/cost strategies for new products that grew to $100 million in 2 years.
- Acquired 26 distributors in executing company’s Direct-Store-Delivery (DSD) distribution strategy.
- Implemented DSD route accounting, control, and order processing system; improving control and efficiency, decreasing inventories and staff while invoicing tripled.
- Assisted Shoppes management in developing turnaround strategy to improve franchisee morale and profitability; losses reduced $4 million, unit sales turned positive.
- Implemented $3.8 million project with 20 month payback and 93% IRR that included a new chart of accounts/GL, AP, AR, inventory/order management, standard cost, MRP systems on new IBM AS400.
- Improved bank relations, established lockboxes and cash management reporting systems; instituted $3.5 million sale/leaseback of truck fleet improving cashflow and reducing costs $100,000.
CORPORATE DIRECTOR PLANNING & REPORTING - Minneapolis, Minnesota 1986 - 1987
Corporate Director Financial Information & Planning Systems - Minneapolis, Minnesota 1984 - 1986
Directed the planning and reporting process for the entire company. Formulated strategies to satisfy information and reporting needs of Pillsbury's Executive/Corporate Officers and Board.
- Streamlined planning, reporting, and control process; decreased staff 25% while improving quality and timeliness of reports, focusing on key variables, trends, issues, and competitor/market.
- Planned, led, designed, and implemented a company-wide Executive Information System (EIS).
NORTHRUP KING CO. (Sub. of Sandoz Ltd. - Basel, Switzerland) - Minneapolis, Minnesota 1978 – 1984
$210 million, third largest, global producer and distributor of seed through farmer dealers & retail channels.
DIRECTOR CORPORATE PLANNING, TREASURY, TAX & CONTROL 1982 - 1984
DIRECTOR CORPORATE PLANNING & ANALYSIS 1980 - 1982
MANAGER FINANCIAL SYSTEMS DEVELOPMENT & ANALYSIS 1978 - 1980
Reporting to the CFO, in charge of all planning, treasury, tax, managerial accounting and control functions.
KPMG - Minneapolis, Minnesota 1973 - 1976
SENIOR AUDITOR - for agribusiness, food processor, manufacturing, retail, financial, and nonprofit clients.
EDUCATION & PROFESSIONAL ASSOCIATIONS
MBA, Management Information Systems, University of Minnesota, Minneapolis, Minnesota 1978
BA, double major in Math and Accounting, Luther College, Decorah, Iowa 1973
Luther Scholarship, Dean’s List, Omicron Delta Epsilon Honor Society, Juran Institute Quality Facilitator.
CPA, Minnesota license, Member of Illinois CPA Society, AICPA, and Financial Executives International. |
