INDEPENDENT CONSULTANT, Blacksburg, VA 2008 - Present
University-approved consulting projects working with Bank of the West (San Francisco, CA), NetVentures, Inc. (Roanoke, VA) and Schultz-Creehan (Blacksburg, VA). NetVentures engagement has extended over more than three years and has evolved from building financial systems and forecasting models to leading the strategic planning process.
CAPITAL ONE FINANCIAL CORPORATION, Richmond, VA 2001 – 2004
Vice-President – Infrastructure Finance 8/03 – 12/04
Directed over 80 associates engaged in the financial analysis and planning for all operational and staff areas of the company.
Responsible for development of annual strategic plan, operating plan, segment reporting, cost analysis/ transfer pricing systems, and business performance analysis for this high-growth, $10 billion revenue company with $70 billion in managed credit card, auto and installment loan assets.
Responsible for financial planning and analysis, forecasting and control for business lines comprising $17 billion in managed loans and $5 billion in revenue, by far the most profitable business line in the company.
SARA LEE CORPORATION 1991 – 2001
Vice-President and General Manager, Sara Lee Business Services, Winston-Salem, NC 3/99 – 6/01
Reporting to the CFO of this $20 Billion corporation, directed all functions of this start-up shared-services division serving all U.S. divisions.
Vice-President and Chief Financial Officer, Hanes Hosiery, Winston-Salem, NC 4/97 – 2/99
Directed all finance activities for this $375 million company - financial planning/analysis, credit, general and cost accounting, and finance MIS functions (88 employees). Directed sales activities for club store and off-price channels of business (approximately $25 million in sales).
Vice-President, International Finance, Sara Lee Meats, based in Lyon, France 6/96 – 3/97
Responsible for the integration of newly-acquired Groupe Aoste, a $900 million entity with 22 plants. Directives included implementation of Sara Lee policies, financial reporting, and management systems. Key adviser to group president on five other food companies in European group.
Vice-President and Chief Financial Officer, Ball Park Foods, Southfield, MI 9/94 – 6/96
Reporting to the division President, directed finance function for this $275 million producer of nationally-distributed Ball Park products.
Vice President and Chief Financial Officer, State Fair Foods Division, Dallas, TX 11/93 – 9/94
Reporting to the division President, directed finance and information systems activities. Led achievement of profit and ROI objectives for this $100 million producer of convenience food products.
Director, Financial Reporting and Planning, Sara Lee Meat Group, Cordova, TN 9/91 – 11/93
Reporting to group CFO, directed financial planning across 17 companies for this $5 billion processed meats business with operations in six countries.
Provided valuation and integration leadership on two acquisitions.
PRIOR EXPERIENCE: 9/79 – 8/91
Various positions of responsibility including eleven years with General Electric Company in roles covering financial analysis and planning, cost accounting, and various accounting and controllership functions. Graduated financial management training program in top three nationally in class of approximately 300.
LANGUAGE: Conversational and some business proficiency in French (with refresher)
University-approved consulting projects working with Bank of the West (San Francisco, CA), NetVentures, Inc. (Roanoke, VA) and Schultz-Creehan (Blacksburg, VA). NetVentures engagement has extended over more than three years and has evolved from building financial systems and forecasting models to leading the strategic planning process.
CAPITAL ONE FINANCIAL CORPORATION, Richmond, VA 2001 – 2004
Vice-President – Infrastructure Finance 8/03 – 12/04
Directed over 80 associates engaged in the financial analysis and planning for all operational and staff areas of the company.
- Developed new rotational training program for entry level finance associates which has proven so successful that all entry-level hires in finance now join the company as part of this program.
- Strongly influenced decision to undertake a company-wide restructuring effort.
Responsible for development of annual strategic plan, operating plan, segment reporting, cost analysis/ transfer pricing systems, and business performance analysis for this high-growth, $10 billion revenue company with $70 billion in managed credit card, auto and installment loan assets.
- Completely revamped measurement process for lines of business including standard financial metrics, segment reporting framework, and performance targets and measurement.
Responsible for financial planning and analysis, forecasting and control for business lines comprising $17 billion in managed loans and $5 billion in revenue, by far the most profitable business line in the company.
- Delivered above-plan profit within asset growth constraints for both 2001 and 2002.
- Championed the decision to reduce marketing in the sub-prime space due to credit quality deterioration.
SARA LEE CORPORATION 1991 – 2001
Vice-President and General Manager, Sara Lee Business Services, Winston-Salem, NC 3/99 – 6/01
Reporting to the CFO of this $20 Billion corporation, directed all functions of this start-up shared-services division serving all U.S. divisions.
- Established a fully operational center of over 150 employees, serving company business units representing annual revenue in excess of $7 billion.
- Successfully managed major change initiative in a corporation with a fiercely autonomous culture. Confirmations of success included an 88% favorable rating on the employee opinion survey.
Vice-President and Chief Financial Officer, Hanes Hosiery, Winston-Salem, NC 4/97 – 2/99
Directed all finance activities for this $375 million company - financial planning/analysis, credit, general and cost accounting, and finance MIS functions (88 employees). Directed sales activities for club store and off-price channels of business (approximately $25 million in sales).
- Led achievement of fiscal year profit targets (20% growth) in a turnaround situation, despite a continued double-digit decline in category sales. Achieved results through improved pricing/margin management and administrative cost reductions.
Vice-President, International Finance, Sara Lee Meats, based in Lyon, France 6/96 – 3/97
Responsible for the integration of newly-acquired Groupe Aoste, a $900 million entity with 22 plants. Directives included implementation of Sara Lee policies, financial reporting, and management systems. Key adviser to group president on five other food companies in European group.
- Implemented processes and systems for reporting of financial results in three months, nine months ahead of corporate requirements.
- As the only on-site representative of the parent company, successfully managed a delicate cultural integration. French management requested me to continue as their CFO.
Vice-President and Chief Financial Officer, Ball Park Foods, Southfield, MI 9/94 – 6/96
Reporting to the division President, directed finance function for this $275 million producer of nationally-distributed Ball Park products.
- Architect of the company’s turnaround strategy, achieving a 68% increase in profit, reaching corporate targets for the first time in 9 years under Sara Lee ownership. Results achieved through a combination of margin management, overhead cost reductions, and facility rationalization.
Vice President and Chief Financial Officer, State Fair Foods Division, Dallas, TX 11/93 – 9/94
Reporting to the division President, directed finance and information systems activities. Led achievement of profit and ROI objectives for this $100 million producer of convenience food products.
Director, Financial Reporting and Planning, Sara Lee Meat Group, Cordova, TN 9/91 – 11/93
Reporting to group CFO, directed financial planning across 17 companies for this $5 billion processed meats business with operations in six countries.
Provided valuation and integration leadership on two acquisitions.
PRIOR EXPERIENCE: 9/79 – 8/91
Various positions of responsibility including eleven years with General Electric Company in roles covering financial analysis and planning, cost accounting, and various accounting and controllership functions. Graduated financial management training program in top three nationally in class of approximately 300.
LANGUAGE: Conversational and some business proficiency in French (with refresher)
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