Chief Financial Officer
SVP is the world’s largest manufacturer and distributor of consumer sewing machines with a presence in over 190 countries, four manufacturing plants, and multiple distribution channels sold under the Singer, Husqvarna Viking and Pfaff brands. Travel approximately 50%. Equity sponsors are Kohlberg and Company.
SITUATION: Successfully implement operational and cost optimization strategies, profitably grow company through organic initiatives, new product introductions and acquisitions, recruit and develop professional finance and corporate team. Also develop comprehensive, global financial and management systems to support and measure external and internal goal attainment plus, maximize cash flow and execute Profit Improvement Plan
·Successfully integrated merger with VSM Corporation – doubling the size of the company.
·11% CAGR growth in EBITDA since 2004.
·Implemented consolidated global financial reporting system – financial statements, leading indicators, metrics and flow-through margin reporting-improved accuracy and timeliness.
·Execute and manage offshore, tax-advantaged structure including transfer pricing thereby lowering global effective tax rate – currently at 10.1%.
·Merged Brazilian plants and manufacturing volume transfer strategies between Europe and Asia, achieving $7.5MM to date.
·Implemented back office consolidation in Europe with annual savings of $9.4MM
·Created Office of General Counsel for global intellectual property and patent management
·Implemented Sales and Order Processing (“S&OP) system in North and South America.
·Developed and implemented global data warehouse for real-time metrics, financial reporting.