Chief Financial Officer, SVP
Recruited into Culligan following its acquisition by Centerbridge Partners in a debt for equity transaction. Overall responsibility for all financial matters of the company including treasury and financial reporting, debt compliance, taxes and financial planning.
- Valued advisor to CEO, COO, Audit Committee and Division Presidents, implementing metrics throughout and driving cost out of the organization. “Lean thinking” focus led to several cost reduction programs.
- Financial Team/Organization Development: Built strong, high performing team through Topgraded Controller, hired new Assistant Controller and Director of Tax, and Topgraded Finance Director, North America and Finance Director EMEA. Strengthened Risk Management through creation of a focused department and hiring reducing overall claims exposure.
- Cash Flow Improvement: Implemented 13 week cash flow and launched the “War on Working Capital” globally. Identified cash burn areas and developed countermeasures driving improved cash flow in foreign locations. In 2013 realized over $1MM through collection of past due A/R and sale of E&O Inventory.
- Lender and Investor Relations: Established standard quarterly calls with key Lenders to manage messaging and develop relationships with key investors and stakeholders.
- Debt Ratings: Prepared and presented to Standard & Poor's and Moody’s to get debt rated. Managed calls to update key stakeholders/investors on debt ratings and outlook.
- Tax: Identified previously unreported legacy FIN48 tax exposures. Developed a tax strategy to take advantage of 2nd year NOLs to reduce prior year cash tax liability. Developed a global tax strategy for repatriating cash on a tax free or reduced tax basis.