CFO / Controller / Vice President of Finance
Professional Summary. Over 20 years of CFO / Controller leadership experience applied in both manufacturing and distribution arenas within the precision, point-of-purchase, and specialty industrial products sectors. Driven to continuously improve internal processes to achieve optimal cash flows, reduce debt, slash cash requirements, and support maximum inventory turns. Contributed multi-million dollar cost savings, revenues and profits through accomplishments in finance, operations, debt and equity management, cost reduction initiatives, market development activities, and contract negotiations.
- Comprehensive analysis of the company’s global process, resulting in the closing of 2 unprofitable operations and the consolidation of 5 separate manufacturing operations into 1 operation in 1 facility.
- Slashed annual cash requirements $5M, saving $300K. Doubled monthly inventory turns from 1.5x to 3x by developing and implementing systems and controls based on the projected requirements. Instituted Just-in-Time deliveries. Made greater use of consignment stock and moved more inventory costs back to suppliers.
- Generated total savings of $2.5M in freight and production costs. Reduced freight costs $2M by building a second manufacturing plant. Negotiated industrial bond funding with a low floater interest rate. Additionally, reduced manufactured cost per unit through more efficient production methods. Saved $500K annually.
- Designed centralization and consolidation program, reducing labor cost by 10%. Achieved a management style that assures an appropriate balance between major elements of management. ie marketing, production, finance, all directed toward increasing owner value. Developed and introduced cost effective performance packages and benefits for all employees.
Consultant / Manager 2009 to Present
Dream Whisper, LLC Paupack, PA
Accounting & IT Consulting Services / Web Development Company.
Started two LLC operations. Setup their entire accounting and IT infrastructure. Help start two Not-for-Profit organizations. Budgets, cash flow and P&L forecasts. Assisted a domestic subsidiary of a foreign parent with year- end audit, accounting and a joint venture with Coca-Cola.
Controller 2008 to 2009
Vision-Sciences, Inc. Orangeburg, NY
Public Medical Device Manufacturer (VSCI, Nasdaq) (Volume $18MM)
Production of timely and accurate 10K and 10Q reports. Moved the financial reporting from quarterly to monthly, improving monthly close to 5 days and reducing 10K and 10Q production time by 1 week. Responsible for SOX implementation. Developed sales reports and tools, allowing the company to develop a new and aggressive sales program. Stabilized accounting department turnover rate through development of a new, better qualified team.
Chief Financial Officer 2005 to 2008
Franklin Stucco Supply, Inc. Franklin Square, NY
Large Manufacturing, Wholesale and Retail Distribution Company ( Family Company) (Volume $29MM.)
Created a new accounting system utilizing QuickBooks for all 5 companies in the corporate group. Provided monthly financial reports and analysis within 3 days from the close of the accounting period. Established a new company- wholesale stone distributor and sold two losing operations. Recovered $500,000.00 in monies previously written off. Developed a cycle count routine for high volume inventory items. Set up procedures for collecting delinquent accounts.
Produced profit plans for all companies on a timely, accurate basis. Completed a consolidated corporate 2007 and 2008 budget. Provided weekly cash flow forecasts.
Controller / Interim Chief Financial Officer 2004 to 2005
DIAM USA, Inc., Yonkers, NY
Largest International point-of-purchase display manufacturer. (Private Equity)
Recommended by DIAM’s outside auditing firm as a hands-on management team member to oversee finance, accounting, budget management, and forecasting operations, as well as manage accounting and administrative staff. Converted the company’s bank lines into a global, multi-currency $85MM term and revolver loan, optimizing operations through conservation of time and money. Completed a comprehensive analysis of company operations, which reflected a need to close two marginal operations and reduce accounting staff. Prepared detailed monthly reporting packages on an individual and consolidated basis. Reviewed and monitored G&A spending vs. budget. Reduced time to complete the annual audit from 12 months to 3 months. DIAM’s manufacturing facilities are located throughout the US and Europe, employing over 2000 individuals.
Chief Financial Officer / Controller 2003 to 2004
ASK Plastics, Inc., Philadelphia, PA
High-volume manufacturer specializing in injection molded plastics. (Family Company) (Volume $10MM)
Recruited as a key member of it’s management team to guide it through Chapter 11 and reorganization. Challenged to lead the design, development and implementation of improved business and financial systems and processes. Direct all aspects of finance, accounting, budget management, and forecasting. Partnered finance with core operations to improve communications and provide critical key information to management team. Manage and train a cross-functional accounting and administrative staff emphasizing quality of output and efficiency.
Chief Financial Officer / Vice President Finance 1983 to 2002
Eastern Alloys, Inc., Maybrook, NY
Industry-leading group of companies specializing in zinc and aluminum products in North America. (Family Company)
Played integral role in leading Eastern from one company with $45M revenues to four companies with $350M revenues. Led start-up of Service Aluminum (wholesaler) in 1987. Profitable in the first month. Additional start-ups included EA Aluminum in 1990 and EA of Kentucky in 1999. Directed Treasury, HR, IT operations and provided strategic financial management and planning expertise for all four companies in the group.