FINANCE EXECUTIVE
•Extensive senior level leadership experience in financial and strategic business analysis, budgeting and forecasting, acquisition and divestiture analysis, and building superior, simplified financial processes.
•Demonstrated ability to collaborate and partner with all functions to deliver better business results, even when implementing tough, unpopular decisions.
•Proven track record of staff development, recruitment, retention, and motivation.
•Fact based, practical, results and action oriented leader adept at improving both the top and bottom line through analysis of product lines, customers and competition.
•Fluent German, working knowledge of French. Comprehensive domestic and international experience.
Cadbury Schweppes Americas Beverages 11/2001 to Present
Vice President Finance, Sales – Americas Beverages. Rye Brook, New York 2005 – P
Provide financial leadership and insight for all sales commercial activities for the North American Beverage business. Analyze financial performance for $3 billion in sales, $800 million in trade spend, and $160 million in SG&A, providing reporting, analysis, and recommendations to identify business growth opportunities and cost savings. Lead a staff of 28. Report to CFO of Cadbury Schweppes Americas Beverages and President of Finished Goods and Concentrate.
• Identified and saved $55 million in trade spend since 2005, and $6 million in SG&A, by increasing the depth and quality of analysis, improving reporting and focusing my team on being proactive in identification of opportunities in both areas.
• Instilled a financially aware culture within sales by implementing brand, customer, and channel profit reporting for each level in sales to empower the field salespeople to make better selling decisions that take profitability into account.
• Recommended a trade software system (Siebel) be installed to allow for tracking, analysis, and insight into $800 million in expense. Established SARBOX controls, policies and procedures, to support the tool.
Vice President Commercial Finance – Mott’s/Snapple. Rye Brook, New York 2003 - 2005
Selected to lead the Commercial Finance function (FP&A, Sales and Marketing Finance) for the merged Mott’s and Snapple business. Revenues of $1.7 billion. Led a staff of 31. Reported to the CFO of Cadbury Schweppes Americas Beverages.
• Implemented and led a sku rationalization project which reduced sku count by 20%, (870 to 700) resulting in improved profitability and working capital ,simplification within manufacturing, and improved customer service.
• Led financial assessment of our Mott’s branded portfolio which had volume declines averaging 11% per annum over a 2 year period. Concluded pricing gap to competition had grown to an unsustainable level and worked with sales and marketing to propose a cut to promoted prices. In year following implementation of the cuts volume started to grow again (+15%) and profit grew +4%.
• Ensured timely and accurate analysis and reporting of P&L, balance sheet, and cash flow including monthly and year end reporting, managing year end close, and liaising with external auditors.
Vice President Financial Planning and Analysis – Mott’s. Stamford, CT 2001 - 2003
Led the preparation of the annual financial plan, goal setting for brands and geographies, balance of year forecasts, financial analysis support for brand initiatives for the $850 million Mott’s business. Also owned assessment of Capital investment projects to ensure projections are an accurate representation of the projects potential, and provided senior management with alternative gap closing or investment opportunities.
• Implemented a revamped multi-functional annual planning process . Reduced in half the number of iterations of the plan, and reduced timeline significantly versus prior years.
• Led, developed, and mentored an understaffed and under qualified department to a much higher level of performance. Recruited three individuals externally, two of whom have since been promoted and hold significant leadership roles within Cadbury Schweppes, and one who became CFO of another company.
Procter & Gamble 06/1989 to 11/2001
Progressed through senior finance and accounting roles in Canada, Germany, and the United States.
Global Fabric Care Financial Planning and Analysis Manager. Cincinnati, Ohio 1999 - 2001
Responsible for the largest profit and cash forecast at P&G. Worked with Regional Finance Directors and VP/General Managers to analyze risks and opportunities and recommend/implement profit improvement changes to the President of this $8.5 billion division. Additionally led the North American Fabric and Home Care forecasting and budget control organizations. Staff of 8.
• Established global process, metrics, and systems to obtain/report timely management information on profit and cash flow from all regions under the Company’s new (July 99) global business unit structure. Led identification of over $30 million in profit improvement opportunities to partially offset substantial business decline in Europe.
• Led the strategic planning process. Set regional targets to ensure delivery of above average shareholder return. Examined/analyzed regional assumptions for growth and pricing and convinced President to reduce growth assumptions to deliverable levels based on data. Determined a dramatic intervention was needed to reduce cost of goods and overheads. Established teams to attack both areas which delivered highest levels of savings in recent history.
• Saved $15 million in Advertising Agency costs by analyzing a new compensation system deployed by the Corporate advertising group. Recommended the Company revise the compensation system, even though it had already been communicated externally. Proposal was agreed.
Finance Manager (CFO), Hygiene Europe. Frankfurt, Germany 1997 - 1999
Selected as the CFO for this $150 million European business. Directed strategic planning, budgeting, forecasting, financial reporting and analysis for 15 countries. Led 3 regional Finance Managers, central forecasting group of 2, budget control group, and the Plant finance organization. Reported to the VP/General Manager with a dotted line into the VP Finance for Paper and Beverage Products Europe.
• Conducted strategic review of the business and recommended two non-core business segments be divested to free up cash and resources. Both were sold within four months for $5 million, well above the pre-determined keep price.
• Despite significant resistance, convinced General Manager and Product Development to stop work on the Briefs market segment and focus resources on the fast growing Pad market. This allowed us to accelerate timing on an initiative that grew Pad sales by over 15% in the first 9 months.
After the Company decided to divest the N.A. Hygiene business, drove a financial and strategic review that determined the European business should also be sold.
• Led all aspects of the European divestiture including management presentations, data room, due diligence with buyers, and negotiation of transition agreements. Successfully managed this work with remaining direct staff of one.
• Shared General Management responsibilities with the European Sales Manager. Delivered +$6 million higher after tax profit than forecast in the year of divestiture, and maintained volume, despite increased competitive pressures. Achieved by cutting non essential costs, and better adapting selling policies to the Western European market.
Associate Director Finance (CFO), Health Care Germany. Frankfurt, Germany 1996 - 1997
Transferred to Germany and promoted to Associate Director. Reported to the VP/General Manager for this $300 million business. Direct staff of 5.
• Increased cash flow and profit by 10% by resolving a historical issue of high inventory and remnants;
- Completed a simplification program, reducing total SKU’s by 35% (from 700 to 450)
- Executed a “Profit Under Performer” plan to kill or cure low profit brands and SKU’s
- Initiated tracking reports of key variables to prevent future issues.
• Played key role in negotiations to sell an Electrical Appliance business. Recommended the sale of the Dental Professional business.
Plant Finance Manager (Controller). Belleville, Canada 1994 - 1996
Senior Finance Manager at the plant, which produced $150 million dollars worth of goods, and employed over 700 people. Managed the transition of the plant from a multi-brand Canadian site to a single brand North American sourcing site. Responsible for all finance and accounting related activities including budgeting/forecasting, management reporting, internal controls, and cost accounting. Direct staff of 8.
• Developed goal and led plans to increase productivity at the site by 20% to ensure long-term viability. Enrolled site leadership team and achieved target.
• Delivered $2.5 million in sourcing savings to the bottom line, while ensuring we underspent a $4 million reserve for one time transition costs.
• Set a new direction for the plant forecasting system. Provided detailed cost data to each department to allow greater accountability for cost control by the people closest to the work. Also streamlined plant reporting reducing the number of reports by 30%.
• Reduced accounting staffing by 30% by increasing organizational capability via regular team meetings, one to one’s, and updated work plans and objectives for the department.
Category Finance Manager, Tissue/Towel/Facial Canada. Toronto, Canada 1991 - 1994
P&G acquired a $175 Tissue/Towel company, Facelle. Directed all financial aspects of the business integration and then managed the ongoing financial management of the business.
• Integrated the accounting systems and developed management reporting. Four months after acquisition, all key management reports were in place, and 90% of accounting systems had been integrated.
• Focused the business on capacity utilization, and contribution per machine hour, helping to deliver +25% volume, and +$10.4 million after tax in profit in year one. Convinced management to continue with the sale of Private Label Products to maximize line usage, something P&G normally avoids.
Senior Analyst/Profit Forecaster Paper Products Canada. Toronto, Canada 1990 - 1991
Financial Analyst, Paper Products Canada. Toronto, Canada 1989 - 1990
PRIOR EXPERIENCE – Owned a roofing company, Bank of Canada, Revenue Canada
EDUCATION M.B.A., Queen’s University. 1989. Kingston, Ontario, Canada.
B.Sc., Carleton University. 1984. Ottawa, Ontario, Canada. |
