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Professional Experience
FINANCIAL CONSULTANT Wellington, FL 1/2012 - Current Performing consulting engagements during employment transition period. Engagements have included preparing financial statements and pro-forma schedules for a $65 million initial public offering of a health insurance plan developer, conducting an operational review of a multi-state chain of golf schools, and assisting with financial due diligence of a $20M+ media company CHIEF FINANCIAL OFFICER, Hear USA, Inc. West Palm Beach, FL 4/2008 12/2011 National hearing-care company; 170 locations in 11 states; $80M in annual revenue; sold to an international supplier, 2011. Recruited to provide financial/SEC expertise to steer company growth through acquisitions. Drove cost control and cash flow strategies during economic downturn. Company was sold to major supplier. In charge of 27 FTEs, overseeing all finance functions, including financial reporting, tax, treasury, revenue cycle, payroll, and general accounting. Chief liaison to the Audit Committee. Presented financial results, budgets and forecasts to the BOD; managed audit and regulatory requirements, including SOX. Resolved complicated technical issues. Managed $3M budget. Co-led company-wide cost reduction program that saved $8M annually , 2009 achieved the first profitable year in company's 23-year history. Led cost reduction program that reduced costs another $1M, 2010. Reorganized revenue cyclestreamlined department, right-sized staff, and improved performancesignificantly reduced the number of accounts 180 days past due. Heavily involved in investor relations and Board communications met with individual investors, drafted press releases, prepared investor presentations, and presented at investor conferences. Recognized for dramatically improving Board finance presentations and reports.
Led GL system upgrade from 10-year-old legacy systemproject was previously stalled for 1+ years. Established cash management system that tracked and forecasted cash daily so that operations could continue despite tight cash flow.
CHIEF FINANCIAL OFFICER, International Bedding Group, Inc. Ft. Lauderdale, FL 6/2007 4/2008 Eighth largest national bedding manufacturer; 5 plants; 500 employees; $160M in annual revenue. Recruited by Sun Capital after private equity firm purchased troubled company. Provided critical executive-level strategic, financial, and operating leadership as the only senior executive on site. Supervised 13 FTEs. Managed $2M budget. Oversaw finance and IT functions, including payroll, AR, AP, GL, treasury, and inventory control. Negotiated insurance contracts. Stabilized situation and staff that was in disarray after abrupt departure of senior leadership. Established processes to meet Sun Capital's stringent financial reporting requirements, including comprehensive, timely financial packages with key performance indicators and narratives. Led ERP and EDI systems upgrade, adding functionality, enhancing utilizationimproved visibility and effectiveness. Reduced inventory levels 30% across 5 plants, working jointly with outside consultant. Established daily/weekly treasury reporting and cash forecasting to enable company to operate with minimal cash. Organized successful relocation of corporate office of 20 FTEs within a compressed timeframe.
VICE PRESIDENT & CONTROLLER, Jacuzzi Brands, Inc. West Palm Beach, FL 1/2001 2/2007 Leading global manufacturer; $3B in annual revenue reduced to $1.2B after divestitures. Recruited to spearhead restructuring and consolidation of financial reporting and other finance functions to Florida. Commuted to New Jersey for 8 months during transition. Global oversight of financial reporting and budgeting8 countries. Served as Head of Disclosure Committee, Chief Accounting Officer, and Chief Audit Committee Liaison. Managed 11 FTE's. Managed $4M budget. Led worldwide divisions to achieve SOX compliance with no exceptions and on time while containing impact on earnings, overhead, and expenses. Project (30,000 hours) was complicated by de-centralized financial structure. Consolidated and moved financial reporting and other finance functions to Florida (previously performed in 4 separate US locations)delivered $1M in savings annually. Led the reorganization of North American Bath credit and collections reduced AR and bad debts 20%. Heavily involved in investor relations and Board communications led the drafting of financial communications, including press releases; prepared investor and bank presentations; and presented at investor conferences, bank meetings, and rating agency meetings. Recognized for ability to clearly communicate complicated financial concepts and issues.
Reduced time to complete outside audit 30% despite increased scope and other regulatory requirements. Played key role in renegotiation, extension, and refinancing of $1B debt facility commended by outside council and investment bankers for playing an instrumental role in completing the transaction successfully. Key contributor in several major dispositions with $2B in total revenue drafted agreements, negotiated terms, and settled post closing financial issues. Negotiated SEC comment letters and won arguments. Negotiated key accounting positions with the SEC staff. Instituted regular monthly financial reporting (previously, department produced only quarterly reports).
VICE PRESIDENT & CONTROLLER, Vitas Healthcare Corp. Miami, FL Leading national hospice provider; $200M in annual revenue.
Recruited to support business expansion (as Director of Finance) and transitioned to operational finance role (VP and Controller). Oversaw financial reporting, treasury, payroll, revenue cycle, and AP. Managed banking relationships, capital budgeting, tax planning, and compliance. Made financial presentations to investors and lending groups. Supervised 85 FTEs. Managed $4M budget. Centralized financial operations from 18 previous locations saved $1M annually in overhead costs. Performed acquisitions due diligence and integration of operations priced, negotiated, and transitioned 3 acquisitions with $70M in combined revenue. Partnered with VP of Development to source hospice providers that were amenable for purchase. Led critical reorganizations resulting in operational efficiencies, cost control, and savings: Reorganized revenue cycle, reducing write-offs by 45%. Reorganized AP functionsestablished system to forecast and control cash outflow; created a customer service functionsubstantially reduced turnaround times, vendor calls, and error rates. Reorganized treasury function and installed processes for daily cash trackingsaved $1M+ in annual fees and interest through tighter cash management, which allowed company to continue growing with limited capital.
Prior Positions include: Manager, Internal Audit, Diageo PLC, Miami, FL, 19931994 Key member of leadership team that restructured company's North and South American internal audit functionsaved $750K annually. Audit Senior Manager, Ernst & Young, Miami, FL, 19801993 Managed client audit engagements and special projects. Obtained the largest litigation support engagement in the countrya multi-million dollar project with Dupont. Key advisor in a number of initial public offerings. Client base included multi-location retailers, realestate developers, manufacturers, distributors and health care providers. Co-Chairman of the Entrepreneurial Services Practice Development Group.
Education | Certification
BA, Accounting BOSTON UNIVERSITY, MA Certified Public Accountant (CPA)