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Title: |
Turnaround Consultant CEO/COO/CFO
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Location: |
US-Connecticut-Danbury/Bridgeport
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Work History: |
Executive Leadership Turnaround Management - The Relentless Pursuit of Execution
Strong, leader with broad strategic management and crisis management skills, including financial, operational and sales management experience. Have served successfully as a CEO, CFO, COO and director in mid-cap and entrepreneurial companies, and a start-up. Industry exposure includes aerospace, service, transportation and health care industries, with manufacturing and distribution background. Established reputation for honesty and integrity. Seeking leadership position with company with growth potential or one in need of a turnaround.
CHRONOLOGY of EXPERIENCE
Principal, BUSINESS RECOVERY & REVIVAL SERVICES, LLC (BRRS) June, 2007 Present
(previously associated with Corporate Renewal Services, Inc. of Milford, CT)
BRRS provides consulting and turnaround and corporate renewal services to the local market. Current full-time assignment is in the transportation sector (Freightliner truck sales and service dealership), providing crisis and turnaround management services to restructure entire company and keeping it out of bankruptcy. Set and achieved new strategic direction and goals, and manage all financial aspects, operations and the Parts Department, including managing sales function.
COMPETITIVE TECHNOLOGIES, INC., Fairfield, CT May, 2004 February, 2007
Competitive Technologies (AMEX: CTT) is a provider of intellectual property technology transfer services to commercial markets through licensing. (Left as result of a hostile takeover.)
Senior Vice-President and Chief Financial Officer (promoted to Senior level August 2006)
Re-focused company by defining and setting company strategic goals and targets
Authored all SEC reports, managed financial reporting, including SOX 404 implementation and audit process
Automated processes and Finance Department activities that produced a 20% headcount reduction after turnover from attrition
Managed treasury, including excess cash and a PIPE, shareholder relations, budgeting, banking, tax, insurance and administrative processes, including IT
Negotiated new office lease and managed entire office move
Received special bonuses for recognition of outstanding efforts
FIRST AVIATION SERVICES INC., Westport, CT February, 1998 April, 2004
First Aviation (formerly NASDAQ: FAVS). Revenues of $100 million+, a worldwide distributor of parts and services to the aerospace industry, distributing 80,000 parts (150+ vendors), to over 7,000 customers.
Chief Financial Officer, Vice-President, Finance, and Corporate Secretary
Started as Controller, promoted to CFO in 2001. Total staff of 20+
Increased cash flow by 100% and lowered DSO 5 days, or nearly 10%
Reorganized Finance Department and restructured closing process by implementing systems and work flow changes, including EDI and paperless disbursements, resulting in a savings of 2 FTEs and a reduction in monthly closings to 4-5 days from 2+ weeks
Reduced inventory reserve exposure through increased focus and sales initiatives
Managed legal issues, budgeting, excess cash and treasury, insurance programs, tax strategies and banking relationships, including a $20 million asset-based line of credit
Authored all SEC reports, managed financial reporting and audit process
Supervised accounting and tax issues for subsidiaries in the Philippines and Canada
Worked with specific airline customers to re-establish credit and sales after 9-11-01
Negotiated long-term customer contracts
Initiated program to collect stale receivables through negotiation and legal action
Principal, KNOLLWOOD CAPITAL (Knollwood), Shelton, CT 1992 - 1998
Knollwood specialized in management consulting, turnarounds, financial restructuring and bankruptcy.
Summary of Selected Accomplishments:
After being brought in as COO/CFO of a company in debt and in default of its loan covenants, reestablished relationship with bank, received commitment to extend expiring line of credit and attracted investment money to stabilize company while turnaround plan was prepared and implemented. Company was more profitable in my first two months than in the prior two years.
Chairman of the Board of a startup joint venture company, successfully helped lead company through required public need for service process, license approval, and initial start-up. Assisted in formulating legal strategy, testified at hearings and led successful legal process that was upheld by the Connecticut Supreme Court. Led planning effort whereby company was operational within days of receiving license approval. Company exceeded original projections by 40%, was profitable and expanded in its initial year. Authored separate comprehensive management and operating agreements between the company and two joint venture partners. Solely responsible for resolving dispute between partners relating to profit division and startup issues.
As Chief Executive Officer, COO/CFO and Director of a nearly bankrupt health care company, negotiated interim debt funding, tripled cash collections, reduced costs by 25% and reduced reliance on major public funding source by 60%. Company became profitable and expanded. Assisted in restructuring the Board of Directors, implemented accrual based (from cash) financial reporting system, including analyses for Board presentation, and strengthened personnel and administrative policies and procedures. Company became a model for others in the industry.
Assignments included:
Access Ambulance Company, Inc., Stamford, CT
Initial Chairman of the Board of Directors & Acting CFO of start-up company
Stamford Emergency Medical Services, Inc., Stamford, CT
Board Member, Executive Director, Chief Operating Officer and Director of Finance
Connecticut Limousine Service, Milford, CT (Chapter 11), Interim CFO
THE DYSON-KISSNER-MORAN CORPORATION, New York, NY 1990 - 1992
Leveraged buyout/investment firm with $1+ billion in revenues
Formulated turnaround plans for under-performing portfolio companies. Implemented budget/forecasting systems, flash P&L, monthly reporting, analyses and accounting systems.
ERNST & YOUNG LLC, Stamford, CT 1981 - 1990
Senior Audit Manager
Supervised corporate audit for a Fortune 100 client, was senior audit manager of its $3 billion operating division. Performed acquisition and disposition due diligence for 20+ transactions totaling $4+ billion, also handled special projects and personnel development assignments.
PROFESSIONAL CERTIFICATIONS AND AFFILIATIONS
Certified Public Accountant, Connecticut
Financial Executives Institute
Prior member, Connecticut and National Turnaround Management Associations
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Skills: |
* Senior executive experience
* Board experience
* Publicly held companies and SEC experience
* Shareholder relations
* Treasury
* Budgeting, analysis, tax
* International accounting
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Education: |
BS Business Accounting, Magna Cum Laude, Providence College, Providence, RI - 1981
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