chief financial officer
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CAREER SUMMARY Senior Financial Executive with extensive experience in software, manufacturing, finance, business/corporate administration, purchasing, treasury, business strategy and information technology. Background in developing financial models, systems, policies or procedures for optimum performance and customer service to drive company's strategic goals and bottom-line. Demonstrated performance in: * * * * * * * * * * Strategic Planning / Business Plan Development Profit Planning / Financial Modeling/Capital Budgeting Presentations to Board of Directors/Investors Lean Manufacturing Financial Statements & Management Reporting Information Technology Management Sarbanes Oxley / Security / Internal Controls/SEC reporting Accounting Policies and Procedures Purchasing Management PROFESSIONAL EXPERIENCE The ComVest Group's Various Portfolio Companies April, 2007 to Present VELOCITY EXPRESS, LLC. September, 2009 to current Velocity Express, with over $160 million in revenue, is in the business of small package delivery to businesses and households using over 1,500 independent contractors in over 100 metropolitan areas across the US. The company was purchased by ComVest in November, 2009 through a pre-packaged 363 bankruptcy process. I served as a consultant primarily leading and preparing their 2010 profit planning process among other financial duties as assigned. In March, 2010 was named Interim CFO with primary responsibility to make Velocity profitable; turn monthly cash flow from a negative to positive; and move corporate finance functions from Westport, Connecticut to Houston, Texas. * Due to the move of the corporate HQ to Houston, hired and transitioned a new accounting staff which included a Controller, Asst. Controller, Treasury Analyst and staff Accountant. * Led the accounting close from 15 days to 9 days while still keeping proper controls and accurate records. * Restructured accounts payable from 3 locations to one. * Implemented a weekly P&L and forecasting process for both revenue and expense. * Was integrately involved in restructuring the company to match expenses with the new level of revenue. * Reviewed all contracts prior to signing. * Implemented a standard bidding process with the appropriate sign-offs. ZOMAX, INC. September, 2008 to current Zomax was in the business of CD/DVD replication, print, packaging, assembly and distribution for the top computer suppliers in the industry with over $100 million in revenue. The operations included 3 plants in the US, 1 in Mexico and 2 in Canada. The company was owned by ComVest, a private equity firm. During my time with the company
worked closely with senior management and the Board in selling the majority of the company in late 2008 and maximizing the return for lenders/creditors for the remaining portion of the business. Everything has basically been completed but once in a while periodic questions/requests do occur. CFO * Worked very closely with the CEO, lawyers and Managing Director of ComVest to sell a portion of the business/customers to a German company. * Led from a financial perspective liquidating the remaining portion of the company which was very complex. This included communication to over 1,000 creditors of what is remaining to be paid out and what portion they would receive. * Changed banking/treasury functions very quickly due to changes in the marketplace. * Last person standing in winding the business down and maximizing the return for ComVest, the secured lender. CATALYST INTERNATIONAL, INC. 2007 to June 30, 2008 Catalyst is a software development and service company in the supply chain marketplace with offices in Milwaukee, London and Philadelphia area. The company was owned by Comvest, a private equity firm, until September, 2007 when CDC Corporation purchased 100% of the company. CFO & Controller Responsible for all financial related functions. Within the year some of the major accomplishments were as follows: * Restructured the Finance Dept. to be more efficient and provided all new management reports on time. * Completed the 2006 audit and financial reporting and caught up with monthly financial reporting within 6 weeks. * Restructured the company debt by bringing in a new partner bank which resulted in saving over 30% in interest costs and greater flexibility in borrowing. * Was integrally involved working with both the Buyer and Seller in selling Catalyst to CDC Corporation within 5 weeks. This included working with both party's attorneys and financial professionals. * Successfully transitioned a number of the financial functions from the Milwaukee office to the corporate headquarters in Atlanta. Journal Communications / Journal Sentinel Inc 1983 to 2006 A diversified media and communications company with operations in publishing, radio & television broadcasting, telecommunications and printing services. Revenues of $764 million in 2005. Major division is Journal Sentinel Inc., the major newspaper publisher in southeastern Wisconsin with approximately $242 million in revenue in 2005. Senior Vice President - CFO of Journal Sentinel 1993 to 2006 Responsible for over 100 employees in the areas of Finance, Financial Planning, Purchasing, Information Technologies and Business Strategy. Reported to the President/Publisher. * Provided senior leadership in the merger of two products
(Milwaukee Journal and Milwaukee Sentinel). Calculated and recommended changes to the advertising rate structure and cost structure resulting in significant increase to the bottom-line. * Provided strategic direction, managed and communicated economic impact from 1999 to 2004 related to the $113 million investment in new manufacturing facilities and equipment. Resulted in positive economic impact, improving the top line and cost structure by more than $7 million. Project came within three percent of the original capital request and was on time with no major problems after
worked closely with senior management and the Board in selling the majority of the company in late 2008 and maximizing the return for lenders/creditors for the remaining portion of the business. Everything has basically been completed but once in a while periodic questions/requests do occur. CFO * Worked very closely with the CEO, lawyers and Managing Director of ComVest to sell a portion of the business/customers to a German company. * Led from a financial perspective liquidating the remaining portion of the company which was very complex. This included communication to over 1,000 creditors of what is remaining to be paid out and what portion they would receive. * Changed banking/treasury functions very quickly due to changes in the marketplace. * Last person standing in winding the business down and maximizing the return for ComVest, the secured lender. CATALYST INTERNATIONAL, INC. 2007 to June 30, 2008 Catalyst is a software development and service company in the supply chain marketplace with offices in Milwaukee, London and Philadelphia area. The company was owned by Comvest, a private equity firm, until September, 2007 when CDC Corporation purchased 100% of the company. CFO & Controller Responsible for all financial related functions. Within the year some of the major accomplishments were as follows: * Restructured the Finance Dept. to be more efficient and provided all new management reports on time. * Completed the 2006 audit and financial reporting and caught up with monthly financial reporting within 6 weeks. * Restructured the company debt by bringing in a new partner bank which resulted in saving over 30% in interest costs and greater flexibility in borrowing. * Was integrally involved working with both the Buyer and Seller in selling Catalyst to CDC Corporation within 5 weeks. This included working with both party's attorneys and financial professionals. * Successfully transitioned a number of the financial functions from the Milwaukee office to the corporate headquarters in Atlanta. Journal Communications / Journal Sentinel Inc 1983 to 2006 A diversified media and communications company with operations in publishing, radio & television broadcasting, telecommunications and printing services. Revenues of $764 million in 2005. Major division is Journal Sentinel Inc., the major newspaper publisher in southeastern Wisconsin with approximately $242 million in revenue in 2005. Senior Vice President - CFO of Journal Sentinel 1993 to 2006 Responsible for over 100 employees in the areas of Finance, Financial Planning, Purchasing, Information Technologies and Business Strategy. Reported to the President/Publisher. * Provided senior leadership in the merger of two products
(Milwaukee Journal and Milwaukee Sentinel). Calculated and recommended changes to the advertising rate structure and cost structure resulting in significant increase to the bottom-line. * Provided strategic direction, managed and communicated economic impact from 1999 to 2004 related to the $113 million investment in new manufacturing facilities and equipment. Resulted in positive economic impact, improving the top line and cost structure by more than $7 million. Project came within three percent of the original capital request and was on time with no major problems after
