Chesapeake Corporation – Richmond, Virginia1992-Present
Publicly traded international supplier of value-added specialty paperboard and plastic packaging products and services. Chesapeake has 47 locations in Europe, North America, Africa and Asia, annual sales in excess of $1 billion and employs approximately 5,500 people worldwide. Business was sold to private equity investors through a 363 sale in April 2009.
Executive Vice President and Chief Financial Officer 2005-2009
Vice President and Treasurer2001-2005
Vice President - Investor Relations1998-2001
Led an organization of approximately 250 people responsible for worldwide internal and external financial reporting, treasury, tax, investor relations, IT systems and risk management.
·Participated in a strategic review of the company during initial 6 months in CFO position and recommended the company explore strategic options. Acceptable alternatives were not available.
·Implemented restructuringprograms that focused on work force reductions and factory closings throughout Western Europe resulted in savings in excess of $40 million
·Formulated a corporate strategy that reduced reliance on high-cost Western European facilities and expanded operations to lower-cost emerging markets.
·Participated in or led negotiations for business acquisitions, divestitures, and joint ventures around the world.
·Implemented financial processes to assure compliance with Sarbanes-Oxley Act.
·Implemented Hyperion to improve financial close processes and provide better KPI’s to support business analysis
·Led efforts to design and implement enterprise risk management (ERM)
·Refinanced over $ 750 million of public and private debt.
·Raised $ 100 million of equity through a public stock offering.
·Played a lead role in a complex restructuring process including ; negotiating bank waivers and DIP financing during a severely contracted credit market, re-negotiating long term foreign pension obligations, working closely with suppliers and customers to maintain business and negotiated the sale of all the company’s operations to private equity investors.
President - Land Development Operations1992-2000
Chesapeake’s real estate subsidiaries managed approximately 45,000 acres of real estate and approximately 3 million square feet of company owned and leased commercial property
·Responsible for all development, management and entitlement activities.
·Successfully planned, zoned and developed large scale (2000-5000 acres) mixed-use master plan communities (residential, office and retail uses).
·Developed and sold major suburban builder communities.
·Managed corporate real estate including approximately 3 million square feet of industrial property.
Curtis F. Peterson Inc. – Columbia, Maryland1984-1992
The company developed real estate, built homes, and suburban office buildings in the Baltimore/Washington region.Annual revenues peaked at approximately $60 million.The company also developed and sold lots to national builders and was the developer and managing general partner of a 3,000 home mixed use master planned community (residential, office and retail uses)
Chief Financial Officer1984-1989
Responsible for formulating business strategy, acquiring property, managing operations, negotiating partnerships and joint ventures, developing banking and financing arrangements, and ensuring overall company profitability.
·Successfully planned, zoned and developed a large scale (1000 acres) mixed-use master planned community.
·Developed and sold major suburban builder communities in the Washington DC metro area including the award winning Tiers condominium projects.
·Successfully negotiated and completed a major public/private off-site utility system in Anne Arundel County Md.
Peat Marwick (KPMG) – Baltimore, Maryland1978-1984
Staff Auditor 1978-1980
Audit responsibilities were primarily in the real estate and financial institution industries.Obtained significant experience in analysis of real estate joint ventures, partnerships, and financing agreements.