MICHAEL J.

KOREN CPA, MBA

Quincy, IL 62301 C: (217) 653-4751 msjnb@att.net http://www.linkedin.com/in/korenmichael

CFO / VP FINANCE / OPERATIONS

As a well-respected financial executive with broad operations acumen, I have proven experience optimizing
financial performance across a wide range of manufacturing and distribution operations.
Led successful re-start of an acquired, non-operational facility in record time as well as drove existing operations
to top efficiency.
Provided astute leadership to achieve success at individual, team and enterprise levels.
Aligned resources with strategic plans, organizational objectives and corporate goals.
Streamlined processes for maximum productivity and minimum material loss.
Built an accountability culture in both financial and operations arenas.
Known as an excellent communicator and savvy problem-solver with a great sense of humor and the ability to
build trust at all organizational levels, I drive effective change while maintaining a positive, collegial work
environment.

P&L
Capital Project Management
Financial Reporting
Administration
Business Reengineering
Inventory
Audit

Areas of Expertise

Budgeting
Facilities Startups & Management
Continuous Process Improvement
Cost Control
OD
Purchasing

Achievements
Re-started facility, reducing scrap expense by $2.5M in first year. Titans Union City facility, which was not in operation,
was purchased from Goodyear due to scrap expense at the 3 existing Titan domestic tire manufacturing facilities. Objective
was to centralize the mixing of rubber in order to control quality. Quickly re-furbished all mixing lines and shipped the highest
quality rubber to the 3 manufacturing facilities, slashing scrap costs due to high quality rubber being produced by Union City
facility.
Played key role in re-costing all products 2 months ahead of time. Previous Titan facility owner had inaccurately
established product costing process, resulting in poor pricing/skewed margins. Partnered with Corporate VP of Finance and
locations Controller to establish a timeline/strategy for execution. Created a cross-functional team at the location, discussing
how the company performed product costing. Provided accurate product costs at location for first time, due to multi-level
partnering.
Slashed inventory by $3M without negatively impacting production. Titan corporates directive was to reduce inventory
levels without impacting production while simultaneously exceeding sales budget. Met monthly with Titan Wheel Corp.s
President/Materials Manager to discuss inventory levels and monitor progress in attaining goals. Adjusted targets according to
monthly production requirements, which were based on sales forecast. Cut inventory while maintaining top production.
Cut past-due receivables by $2M. Titan Intl had major past due A/R with one of its largest customers, due to discrepancies
in invoicing, customer receiving and special charges. Customer wanted Titan to absorb cost of past due receivables, due to the
large volume of business given to the company. Held weekly conference call with Titans Sales Representative and customers
senior purchasing leader. Led resolution negotiations, resulting in client paying 60% ($2M) of past due amount.
Coordinated $9M in construction projects, re-starting 70% of mixing lines within 9 months of facilitys re-opening. Tire
manufacturing facility in Union City, TN had been closed. Re-start involved overhauling 10 rubber mixing lines in various
states of disrepair/obsolescence. Facilitated the project through LLC owners, meeting aggressive project completion timeline.
Orchestrated move of all accounting functions from VA to larger facility in IL. In order to cut costs and gain better
control of financial information, centralization was necessary. Developed a plan to ensure all accounting requirements were
addressed for monthly close and checklist to be used in subsequent closes, making process more efficient. Performed a
personnel analysis, reducing accounting team by 6 full-time employees. Saved company $250K/yr. through execution of
complete plan.

Grew monthly production/shipments from 2 to 40 million pounds of mixed rubber within 10 months. Titans re-started
Union City facility was still tweaking operational processes as it continued to increase production based on internal orders.
Challenged to complete/deliver internal orders on-time from the 3 domestic tire manufacturing facilities or risk shutting down
one facility. Conducted daily cross-functional meetings to address issues, enabling a seamless increase in production.
Cut monthly physical inventory time by 50%, with no more than a 0.5% physical inventory adjustment. A monthly
physical inventory had to be taken because raw materials were processed/shipped by various LLCs, which functioned as
traditional departments. Gained commitment from LLCs to conduct the inventory and provide a physical inventory report for
valuation and comparison to G/L for calculating and the making of any necessary inventory adjustments, cutting inventory time
in half.

Experience
Gully Transportation, Inc. - Quincy, IL
VP of Finance and Business Administration

2014 - present

Recruited by family-owned, over-the-road trucking firm, providing dedicated and broker service, with sales of $50M.
Accountable for financial and insurance administration including financial statement preparation/analysis, insurance
cost monitoring, review and negotiation of financial agreements, leases and real estate listings.
Successfully managed and trained nine personnel, because legacy building is the key to longevity.
Successfully finalized financial agreements as both borrower and lender, because a good deal leaves both parties
satisfied.
Led and coordinated the negotiation of the lease of start-up operation.
Effectively completed the extension of a commercial loan, resulting in increased financing.

Titan Tire Corp. of Union City - Union City, TN

2012 - 2014

Business Unit Manager

Selected by executive management of Titan International to start-up and oversee total operation of facility including
P&L, inventory, purchasing, cost accounting and order fulfillment.
Responsible for $9M in construction projects for this Titan division, producing tire components and with sales of
$350M. Led 7 direct reports.
Successfully refurbished/restarted 70% of mixing lines in less than 9 months, with minimum impact on production.
Grew monthly rubber production from 2 million to 40 million pounds within 10 months by focusing employees on
corporate vision and purpose.
Achieved smooth transition of monthly close responsibilities from corporate accounting to business unit in less than 4
months after restarting facility.
Spearheaded process of sourcing, installing and implementing card access system to improve security and emergency
readiness in response to dramatic increase in facility traffic.
Led effort to strategize and create five LLCs, responsible for manufacturing process of rubber product lines.

Titan International, Inc. - Quincy, IL

2006 - 2012

Senior Corporate Controller

Managed $1B budget, 3 direct reports and 35 indirect reports for this manufacturer of off-road tires and wheels.
Responsible for accuracy, completeness and analysis of monthly financial reporting from the 5 U.S. manufacturing
facilities.
Slashed past-due receivable accounts by $2M through weekly monitoring and persistent customer follow-up.
Eliminated one half-day from month-end close process by facilitating weekly conference calls with site controllers to
discuss potential accounting issues.
Reduced month-end financial reviews by 15 minutes for each location's conference call after creating performance
analysis focusing on review of specific KPI.
Successfully completed re-costing of all product lines of acquired company 2 months ahead of schedule, resulting in
accurate costs for manufacturing operations for the first time.

Titan Wheel Corporation - Quincy, IL

1997 - 2006

Division Controller

Directed accounting functions for worlds largest off-highway wheel manufacturer, a subsidiary of Titan International.
Accountable for P&L performance, month-end close, credit, accounts receivable, cash management, accounts payable,
cost accounting, inventory and payroll.
Saved $250K by restructuring and centralizing accounting services for wheel division.
Achieved 100% compliance under Section 404 Sarbanes-Oxley (SOX) within original legislative deadline.
Regularly outperformed operating budget by a minimum of 10%.
Reduced $3M on-hand inventory with zero negative impact to production by partnering with Division President and
Materials Manager to closely review and adjust levels on a monthly basis.

Titan International, Inc. - Quincy, IL

1995 - 1997

Internal Audit Manager

Built and staffed companys first-ever internal audit department in less than 6 months, completing set of audit

programs, audit schedules, and internal audit book to communicate findings to senior management and board of
directors.
Wrote audit programs, hired auditor, and executed a number of other functions aligned with forming Audit
Department.

Lehigh Portland Cement Company - Allentown, PA

1987 - 1994

Internal Audit Manager

Successfully re-started the corporate internal audit department by hiring two staff auditors and updating and revising
all audit programs.
Led internal audits across three manufacturing locations, five sales offices, the corporate purchasing department,
accounts payable department and payroll department for this $325M manufacturer of gray and white Portland cement.

KPMG Peat Marwick - Allentown, PA

1986 - 1987

Staff Auditor

Performed financial audits for high-value clients in order to provide an in-depth auditors opinion report for this
leading accounting firm providing audit, accounting and tax services.

Education
Master of Business Administration (MBA)
Lehigh University
Bachelor of Arts in Accounting (minor in Criminal Justice)
Moravian College
Certified Public Accountant (license current)