Darryle Cromwell

Darryle Cromwell

Summary

 A transformational business executive with a track record of maximizing sales, profits, market share and stakeholder value

Experienced in P&L responsible positions is preceded by accomplishments in increasingly responsible operations and consulting positions, here and abroad.

All the skills one would expect in a successful business leader including sales, marketing, key account management, product development, engineering and manufacturing.  Knowledgeable in TQM, ISO 9002, Kaizen and other modern methodologies to maximize productivity and quality.  More important, a proven ability to apply these principles in the real world.

Most recently, as President and COO turned around and positioned Keys of Dallas Texas, as a viable and sustainable entity for the future. Prior to Keys, grew and sold Hetworth Corporation, an organization that was on the brink of bankruptcy when I joined it as President and CEO.  Earlier, played a lead role in diversifying and increasing the sales and profits of Philip Services Corporation (PSC), a multifaceted outsourcing, management consulting and productivity improvement company.  My career began in manufacturing where I rose to senior operations posts with Ford and Chrysler.  Also served as a trainer and change management specialist at a 2,000-employee Ford truck plant.

To summarize, after rescuing Keys and Hetworth from imminent demise, my key focus is to develop sustainable firms to capture maximum market value.  Earlier, led Philips’ newest business unit to a net operating income of 12% and ROI of 33.6%.  Also achieved 300% growth over 6 years as leader of PSC’s International Operations, and played a lead role in launching a Chrysler minivan plant in Austria

I hold an MBA from Queens University and have completed many technical and management courses.  Others have cited my ability to get things done quickly and site natural leadership traits as being important elements of success.  I easily win the confidence of others and am especially effective in crisis situations.  I have published magazine articles on business expansion, and have given speeches and workshops on many topics relating to manufacturing, procurement and supply chain topics.

Work History

Work History
Oct 2006 - Present

President COO

Keys Fitness

Keys is a $100 million Group of Companies that manufacture and distribute durable goods relating to the home fitness (stationary bikes, treadmills, ellipticals, strength products and accessories), and back yard leisure products (Spa, and Saunas) markets. Big Box/Mass merchants and specialty dealers’ are the major customer base.

Key Accomplishment

Rescued Keys Fitness and Keys Backyard from Chapter 7 Bankruptcy.Engaged as president by the original founder of Keys - as a stimulus to turnaround and long term sustainability. In 13 months generated $6 million in annualized turnaround savings, successfully completed the sale of a failing products line and the associated assets that accounted for 35% of the firms sales generating sufficient cash to acquire new lenders and position the organization for the future.

Jan 2000 - Sep 2006

President CEO

Hetworth Group of Companies

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Hetworth is a $13 million organization that provides industrial services to improve productivity, avoid cost, cut expenses and increase revenues. It primarily serves manufacturing companies.

Key Accomplishment

Realized 62.5% sales growth for Hetworth with an annual average return on investment of 18%. After stabilizing the organization, expanded product lines from two to 8. Doubled market share. Attained a customer retention rate of 98%. Built scalable IT and operations infrastructures to support growth. Cut days sales outstanding from 63 to 45 days. Secured outside funding to finance continued growth.

Turned around, grew and orchestrated the sale of this $13M organization.

Aug 1988 - Jan 2000

Vice President

Philip Services Corporation

PSC was a $3 billion facility management and environmental support services provider.It serves the oil industry and manufacturing companies of every type.

Vice President of Operations – Philip Services Corporation - 1997 to 2000. P&L responsibility for PSC’s business unit – a strategic outsourcing / process management organization with operations in Canada and the USA.

International Vice President - Philip Services Corporation - 1991 to 1997. International responsibility for a $60M business unit.

General Manager - 1988 Philip Services Corporation - 1991 to 1997. Canadian operations. 

Key Accomplishments

Led Philip’s newest business unit to achieve a net operating income of 12% and ROI of 33.6%.  Built a highly successful $100M strategic outsourcing and process management organization that become the leading provider of global solution-based outsourcing services.  Forged a team that included 5 directors and 1000 employees. 

Achieved 300% growth over 6 years as leader of Philip International Operations.  Logged net operating income in excess of 20% and division equity growth greater than 500%.  Transitioned the organization from a commodity supplier to an integrated systems solution provider. 

Reengineered Philip’s Canadian Operations.  Streamlined operations, improved bottom line performance, and built a team to support growth into the USA.  Increased revenue from $3M to $10M in two years attracting $16M sale price, 17 times net operating after tax profit.

Played a lead role in launching a Chrysler minivan plant in Austria.  As International VP for PSC, secured local legal, accounting, administration, translation and staffing support for client Chrysler.  Finalized regulatory matters to do business in Austria.  Won similar contracts with BMW, Chrysler in Argentina and Ford in the UK.

Oct 1977 - Aug 1988

Ford Motor Company and Chrysler Corporation

Paint Area Manufacturing Manager – Chrysler Corporation – Brampton Assembly Plant -1987 to 1988.  Responsible for a 150-employee paint finishing facility.

Training Manager – Ford Motor Company – 1985 to 1987.  Spearheaded organizational development initiatives incorporating quality of work life improvements, participative leadership, employee empowerment, and process efficiency at a 2,000-employee truck plant.

Production Superintendent – Ford Motor Company - 1982 to 1985.  Managed Body/Welding, Paint, Trim, Chassis/Final Departments.

General Supervisor – Ford Motor Company - 1981 to 1982.  Managed trim and paint operations.

Automotive Assembly Electrical Specialist – Ford Motor Company - 1977 to 1981.  Responsible for electrical failure and defect diagnosis and solution. 

Education

Education

Masters