Mr. Betz is the Financial Director supporting both the Investor Relations and Financial Planning & Analyzing Organizations at LSI Corporation headquartered in Milpitas, California.
Previously, Mr. Betz was the Financial Director/Controller for the Networking Division at LSI Corporation (formerly Agere Systems) based in Allentown, PA where he was responsible for all division financial matters.
In addition, Mr. Betz severed as an expatriate for LSI in Singapore where he was the Chief Financial Officer of Silicon Manufacturing Partners (SMP), a joint venture between LSI and Chartered Semiconductor; he served as Finance Director, and continues to serve on the SMP Board of Directors today.
Prior joining LSI, Mr. Betz held several financial positions with Lucent Technologies, where he attended their Financial Leadership Development Program.
Mr. Betz received a Bachelor of Science in Finance from West Virginia University and an MBA from the University of Chicago.
Highly energetic Finance Director/Controller focused on execution.Excellent analytical, conceptual and interpersonal skills balanced with passion and team building for success with a strong track record.Experienced, seeking both a challenging and growth opportunity that would enhance a company’s profitability on all fronts.
LSI CORPORATION, Milpitas, CA (Formerly Agere Systems & Lucent Microelectronics Division).
Investor Relations Director2008 - Present
- Business Partner for LSI’s Executive Leadership Team linking financial performance & strategic view to investors.
- Improved alignment between LSI Financial Outlook and “Sell Side” analyst models (understand disconnects and monitor First Call Consensus estimates).
- Drove monthly analytical work and continue to “add value” to our quarterly competitive benchmark report created in previous role.
- Engaged with LSI marketing folks in each division to understand market dynamics & product trends, key customers, and competitors.
- Responsible for LSI internal investor relations package on a quarterly basis (support script, models, and explains).
- Point of contact for financial questions from analysts and investors.
- Ranked consistently in the top 10% in the LSI Finance Organization for the past 9 years.
FP&A Finance Director2007- 2008
– Financial Planning & Analysis for all of LSI (Estimated $3B annual sales in 2007).Partner with the Chief Financial Officer, Chief Executive Officer & Corporate Marketing Officer on strategic/special projects.
- Led a weekly controllable spend/cost review across all disciplines for the entire company (est. $1.2B annual).
- Financial Controller for horizontal support organizations (Finance, IT, HR & Corporate Marketing & Planning) estimated $180M spend annually.
- Drove monthly capital expenditure process for the entire company ($80M per year).
- Developed a detail revenue tracking report used across the company for monitoring trends and forward looking forecasts across all business units.
- Created and responsible for the LSI Executive Benchmark Report (MRVL, BRCM, NTAP, EMC) on a quarterly basis.
- Prepared & reviewed the company’s quarterly financial board package.
- Part of strategic evaluations (selling mobility business unit in August 07) and becoming a Storage/Networking focused company.
- Supported and integrated new business processes for driving discipline and world class standards.
Divisional Finance Controller/Director2006 - 2007
- Networking Division (Strategic Business Unit (SBU) $500M annual sales).Reported directly to the Executive Vice President of Networking and the Chief Financial Officer for LSI.
- Within 90 days of re-organization, rolled out new processes and metrics to drive financial discipline and accountability for Networking, a new division consisted of 4 SBUs.
- Achieved cost reductions of over $50M annual run-rate.
- Formulated new annual budgetary plans to achieve 5%+ gross margin improvement and 15%+ operation income margin improvement.
- Implemented rigorous business case reviews for all incremental investments (NPV methods & contribution reviews).
LSI CORPORATION, Joint Venture – Silicon Manufacturing Partners (SMP),Singapore
JV – Chief Financial Officer 2003 – 2006
- Responsible for all financial matters (Accounting, Planning, Budgeting & Capital) of the $300M manufacturing joint venture between LSI Corp. and Chartered Semiconductor.Reported directly to the company’s General Manager and Board of Directors.
- Saved $13M by repaying all short-term debt ($125M) ahead of schedule in June 2004.
- Successfully declared/paid over $130M dividends to both partners.
- Reduced Upkeep Maintenance Spending (consumables, spares, & services) by 41% from 1Q04 to 1Q05 ($11M run-rate savings).
- Developed and managed new analytical models and controls to reduce total commodity spending by over 25% from 1Q04 to 1Q05 ($15M run-rate savings).
- Completed a Capital Share reduction ($168M) benefiting both partners – led to $60M cash savings.
- Developed and implemented new inventory valuation model for improving the matching (COGS w/ revenue).
LSI Corporation, Allentown, PA (Formerly Agere Systems & Lucent Microelectronics Division)
Finance Operations Controller – Front End Operations
2002 – 2003
- Responsible for LSI’s financial matters for Total Front End Operations which included a 51% Equity stake in the joint venture Silicon Manufacturing Partners (SMP).Reported directly to the Front-End Operations Executive Vice President.
- Discovered & corrected several internal audit findings:
- Corrected improper cash investments & employee stock option expensing.
- Partner settlement’s for operational capacity issues,
- Re-balance the equity stake positioning between partners.
- Changed LSI’s transfer pricing – resulting in significant margin gains for LSI.Reported and rectified questionable inventory practices.
- Implemented new processes to “Link” LSI & SMP financial book close requirements (reduced days by half - 4 to 2).
- Ensured proper documentation for all current contracts/processes/controls and recommended any amendments to be updated/changed/developed.
Financial Project Manager, Global Consolidation / Business Restructuring Organization
- Responsible for coordinating/tracking 150+ financial consolidation projects ($400M) over a two year span.Reported directly to the Chief Financial Officer.
- Initiated and implemented accounting reserves, estimates, actual and forecast models for the following type of projects on a monthly basis:
- Closure of manufacturing plants (4) and office buildings (7+).
- Impairment/disposal of assets ($1B+) toward global consolidation of existing operations.
- Force Management Program (Work Force Reduction – Headcount from 18,000 to 6,000 employees).
- Developed a project tracking mechanism to ensure up-to-date cost monitoring.
- Supported senior executives on business case reviews and provided key financial data and modeling to assist strategic decision making.
Financial Analyst, Integrated Circuit (IC) Division.
- Supported the S1 filing for Agere’s Initial Public Offering (IPO) $4.1B sales in 2001.
- Created a Figure of Merit and Contribution Analysis for all the IC project lines ($2.9B in Sales in 2001).
- Worked directly with the Vice President of Operations to improve inventory turns for each strategic business unit (from average of 5 to 8 turns within 1 year).
- Hired into Lucent Technologies competitive Financial Leadership Development Program straight from College (1of 30 participants out of 3,000 applicants).
UNIVERSITY OF CHICAGO, Chicago, IL
Master of Business Administration, MBA (Singapore, Barcelona & Chicago)
BABSON COLLEGE, Wellesly, MA
Financial Leadership Development Program participant - Lucent Technologies
WEST VIRGINIA UNIVERSITY, Morgantown, WV 1996-2000
Bachelor of Science in Business Administration - Finance
BOARD POSITIONS & OTHER:
·Park Town Place – Home Owners Association Board Member
2008 - Present
·Silicon Manufacturing Partner’s (SMP) Board Member
2006 – Present
OTHERS (Honors & Activities):
·Member of Institute Management of Accountants (IMA)Present
·Financial Leadership Academy Graduate (Corporate Executive Board)2008-2009
·LSI Corporation – “Performance & Commitment to Excellence”Aug 2008
·LSI Corporation – “Winner’s Circle Recognition Award”Nov 2007
·Agere Systems – “Leadership Development Program”2005-2006
·University of Chicago, Student Activities Council 2004-2006
·Agere Systems Recognition Award “Excellence”& “Outperform”2001-2003
·Lucent Technologies (Summer Internships)1999-2000
·West Virginia University Safety Achievement Award1999-2000
·President & Vice President, Delta Sigma Pi, Professional Business Fraternity
·Board of Governor, WVU Student Administration1998-2000
·WJB Maintenance Corporation - Vice President of Family Owned buisness