Tim Kleckner

Tim Kleckner

Summary

High energy, hands-on finance executive with over 20 years experience delivering excellent operational and financial results for global healthcare, semiconductor and technology businesses ranging from venture backed start-ups to Fortune Global 500.Pragmatic and decisive leader who thrives on overcoming complex business challenges.Key qualifications and areas of expertise:

Venture, Debt and Bank Financing     

                M&A on Buy and Sell Sides

Strategic Planning and Implementation

Performance Management Metrics/Scorecards

Financial Systems Design & Implementation

Organizational Development and Coaching

High Volume Electronics Manufacturing

Software Revenue Recognition Expertise

Extensive International Experience                 

Exceptional Communicator at All Levels

                Restructuring and Rightsizing                           

                Sarbanes-Oxley 404 Compliance   

Work History

Work History

VP Operations

Philips Business Group Lighting Electronics

Recruited by Philips Lighting to move into an operating role to maintain continuity of management following the reorganization and relocation of the former EBT (acquisition) headquarters from Torrance, CA to Chicago, IL.The role included general management and P&L responsibility for the electronic ballast product line R&D and manufacturing.Assembly operations in Taiwan, China and Mexico generated over $200M in production value in 1997.

·Designed and executed a plan to close the Kaohsiung, Taiwan manufacturing facility resulting in $6M in direct cost savings, a shorter supply chain and improved capacity utilization in Shanghai and Tijuana.

Aug 2005 - Oct 2008

CFO

Philips Healthcare Informatics

Recruited for the CFO role at the Stentor, Inc. acquisition in August, 2005.Stentor was a venture backed start-up focused on the design, development and sale of radiology (PACS) software for large hospitals.The CFO role involved the development and execution of the post-merger integration plan, SOX 404 compliance and management of the finance, legal and HR functions.In 2006, the Stentor management team assumed responsibility for 3 additional global healthcare software business units in cardiology, clinical services and speech recognition.

·The Stentor post-merger integration plan met or exceeded all targets and was used as a model for subsequent Philips Healthcare acquisitions

·Grew Stentor revenue from $69M in 2006 to $144M in 2008 through active management of sales performance metrics, customer contract negotiations and clear definition of revenue recognition policies

·Chaired the project team responsible for converting Stentor from Great Plains to SAP enabling the business to scale its growth into new markets in Europe and Asia

·Completed a 5 year strategic plan that led to the acquisitions of Ximis, Inc. (radiology information systems) in 2007 and Tomcat (cardiovascular information systems) in 2008

2004 - 2005

VP Controller

Philips Semiconductors Emerging Businesses

Position was pursued to gain experience in a direct business role.The Business Group Controller was the senior finance executive on a management team responsible for a group of wireless connectivity business lines including WLAN, WiFi, WiMax, USB, Bluetooth, RF Modules and ASICS which generated $600M in revenue.The Controller role included directing monthly business reviews, quarterly rolling financial forecasts, annual operating plans, 5 year strategic plans and management of selected projects.

·Led and managed the implementation of Philips’ Business Excellence program based on the European Foundation for Quality Management (EFQM)

·Selected, trained and certified as an Executive Coach for high potential talent – consistently ranked as a top judge by participants at multi-day Management Development Center programs

2000 - 2004

VP Finance - Chief Accounting Officer

Philips Semiconductors North America

Recruited by Philips Semiconductors Product Division to lead the post-merger reorganization and integration of VLSI Technology Inc.’s finance and accounting functions following the $1.2 billion acquisition in 1999.The role involved managing all financial functions in the North America region including general ledger, financial reporting, inter-company accounting, cost accounting, fixed assets, tax, accounts receivable, accounts payable, financial planning and analysis.More than 60 direct and indirect personnel supported North America sales of $1.1 billion.

·Reorganized and relocated the majority of San Jose/Sunnyvale based finance functions to a new, internal shared services organization in Tempe, AZ

·Chaired the project to successfully convert VLSI Technology financial systems from Oracle to SAP

·Established a Business Balanced Scored with benchmarked performance metrics for all finance functions

1998 - 2000

VP Controller

Philips Consumer Electronics - Multimedia Center

This position was pursued to broaden my experience in technology, research and development.The primary role was to design and implement standardized systems, processes and controls for more than 20 digital technology based consumer electronic development projects.

·Planned and executed a shared services business model including service level agreements for all back office functions supporting the Palo Alto, CA based projects

1996 - 1998

CFO

Philips Business Group Lighting Electronics

Following the acquisition of EBT, the management team was promoted to take responsibility for all of Philips Lighting’s global electronic and electromagnetic lighting businesses.The Business Group CFO role was focused on directing monthly business reviews, quarterly financial forecasts, annual operating and strategic plans for a portfolio of businesses generating over $1 billion in sales.

·Exceeded post-merger targets for EBT by growing revenues from $55M to over $200M in 3 years through strategic investments in low-cost manufacturing capacity in China and Mexico

1990 - 1992

CFO

EBT was a venture backed start-up focused on the design, manufacture and sale of energy efficient electronic lighting ballasts.The company experienced explosive growth during an energy crisis from electrical utility demand-side management programs.

·Designed, authored and implemented all financial systems, processes and controls for the company

·Established new insurance, banking and legal relationships to support revenue growth from $10M to $55M

·Secured more than $20M in venture capital financing by issuing subordinated debentures, warrants, common and preferred stock to investors from the United States, Hong Kong, Taiwan, Singapore and Malaysia

·Key contributor in the negotiation and sale of EBT, Inc. to Philips Electronics in November, 1992

·Completed a S-1 registration statement for EBT’s planned IPO that was co-managed by Hambrecht & Quist and Montgomery Securities (terminated in favor of the merger with Philips)

Education

Education

BA

MBA

Apr 2007 - Present

Executive Education