DOUGLAS N. PLACE, Sr, CPA, MBA

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SUMMARY OF QUALIFICATIONS

Executive level finance professional and CPA with extensive experience in multi-national, multi-site manufacturing and

distribution operations from small private start up entrepreneurial organizations to public / private middle market growth

companies with a demonstrated and proven ability to lead and redesign financial processes, systems and organizations.

Compassionate manager with excellent leadership, interpersonal and communication skills, dedicated to fostering a

working environment that encourages collaboration and optimizes team performance. Possessing the unique qualities to

quickly comprehend financial complexities, effectively manage multiple priorities simultaneously and explaining technical

financial matters proficiently to nonfinancial management and directors. A strategic thinker who develops key metrics,

installing management accountability, improving efficiency, and eliminating redundancy with a successful track record of

improving the bottom line.

Skilled in lean manufacturing, implementing financial closing policies and procedures, GAAP and SEC reporting, building

financial reporting infrastructure, banking relations, global cash management, covenant compliance, budgeting, forecasting,

strategic planning, variance analysis, gross margin improvement strategies, inventory control, contract negotiations,

working capital management, tax compliance and tax avoidance strategies, equity capitalization, acquisitions, post

acquisition integration, consolidations, and Corporate Governance.

Extensive experience in presiding over and directing large projects including but not limited to Initial Public Offering

(IPO), ERP systems conversions and upgrades, implementing SOX 404 policies and procedures in newly acquired entities,

global tax optimization strategies, startup of new plants, due diligence, post-acquisition integration, cross functional

leadership, managing outside consultants and Global audits.

PROFESSIONAL EXPERIENCE

Owens Corning / Northern Elastomeric, Inc. Brentwood, NH December 2009 - Current

Chief Financial Officer / Vice President Finance

$70 million (Private) manufacturer of Ice and Water roofing underlayment’s. Acquired by Owens Corning in July of 2012.

Directed a staff of 10 for all Administrative, Accounting, Legal and IT functions. Responsible for finance and administrative

functions, Board Agenda, Bylaws, Voting, Shareholder Relations, and overall Corporate Governance.

• Directing the post acquisition integration into the OC SAP financial and PeopleSoft payroll and hr systems.

• Implemented all relevant Owens Corning SOX 404 policies down to the plant level

• Successfully guided founder and original shareholders thru the due diligence process and eventual sale of the

Company to Owens Corning.

• Spearheaded team that identified and eliminated manufacturing bottlenecks which increased thruput by 40%

with minimal capital investment and was the key driver for a 250% increase in enterprise value in just 3 years.

• Converted ERP system from standard to actual cost which provided better visibility of all the cost of

production creating opportunities to strategically increase market share from 12% to 19% by becoming the lowest cost

manufacturer in a market with 17 competitors. Volume increased 76% while the overall market grew 28%.

• Revamped Sales Incentive Programs (SIP) to targeted gross margin percentage improvements aligning sales

force compensation with specific corporate goals.

• Instituted tax avoidance strategies resulting in tax refunds of $310K.

GPX International Tire Corporation, Malden, MA January 2007 - November 2009

US Controller / Interim Tax Director

$660 million (Private) multinational manufacturer, marketer, distributor and retailer of off-road tires operating in

13 countries and 15 states. Directed a support staff of 10 professionals as well as operational controllers. Primary

responsibilities were the consolidated financial statements and external reporting to Investors and Bank Syndication

• Implemented closing procedures that reduced the month end closing process from 20 days to 5 days for all

worldwide business units.

• Integrated five acquisitions procured in 2007 into the Company’s ERP system within nine months of transaction

date

• Authored transfer pricing studies and implemented operational changes that resulted in the re-characterization of

income and transfer of expenses producing a cash tax savings of $3M.

Resume of Douglas N. Place, Sr.

page 2

Axsys Technologies IR Systems, Inc., Nashua, New Hampshire August 2005 – December 2006

Director of Finance and Administration

A $40 million high tech manufacturer of thermal imaging devices serving the Military and Commercial market. A wholly

owned subsidiary of Axsys Technology, Inc. a Public Company traded on NASDAQ Symbol: AXYS . Managed a staff of

16 direct reports overseeing all legal, accounting, IT and administrative functions.

• Presided over the post acquisition integration & consolidation of two entities into one facility.

• Reduced warranty, rework and scrap from 3.5% of sales to .5%

• Created a process and instituted a procedure to identify low margin and obsolete inventory.

Hitchiner Manufacturing Company, Inc., Milford, NH September 1993 - July 2005

Corporate Controller / Assistant Treasurer

$225 million (Private) multinational manufacturer of jet engine turbine blades, automobile components, leisure products

and hand tools with operations in four countries and two states. Acting CFO during search for new senior executive

team during 2001 - 2002. Managed approximately 50 professionals in the Corporate Accounting, Treasury departments

as well as divisional controllers. Attended all Board of Directors meetings, provided semi-annual reports to the Audit,

Pension, Executive and Compensation committees.

• As acting CFO; presided over the divesture of two business units investing cash in debt reduction, cutting

operations overhead expenses by $4.5M and corporate expenses by $5M while obtaining compliance with loan

syndication in 18 months after the financial collapse promulgated by the events of September 11 th.

• Negotiated a $44.5M private placement debt offering with several major insurance companies including offering

memorandum, covenants, interest rates and tenor.

• Oversaw ERP migration from HP MAN MAN to PeopleSoft / Oracle for U.S. and international business units.

• Performed first R&D tax study resulting in $5.6M in cash tax refunds.

• Converted health plans from full indemnity to large deductible plans resulting in savings of $1M per year.

• Implemented safety and health initiatives reducing worker compensation costs in excess of $350k per year and

reducing modification rate by 60%.

Asahi/America, Inc. Malden, Mass October 1981- August 1993

VP Finance and CFO 1987 - 1993

Cost Accounting Manager / Corporate Controller 1981 - 1987

$40 million (Private – Public NASDAQ: ASAM / acquired & delisted) multi state manufacturer, value added reseller and

distributor of thermal plastic valves, piping and fittings. Management responsibilities included all accounting, finance,

HR, IT and administration functions. Responsible for setting Board Agenda, Bylaws, Voting, Investor Relations, Legal,

SEC reporting and overall Corporate Governance.

• Performed several recapitalizations of the Company utilizing preferred stock, mezzanine financing and bank debt

culminated by an Initial Public Offering (IPO) raising $14 million providing the funding for a new extrusion

facility and corporate headquarters.

• Presided over the start up of a new manufacturing facility, the purchase of a machining company including the

financing and staffing while successfully integrating operations with all other business units.

• Implemented the company’s first automated shop floor reporting system, including bills of materials, overhead

rates and routing operations. Significantly reduced physical inventory adjustments

Belcher Oil of New England, Inc. Revere, Mass June 1980 – September

1981

Cost Accounting Manager

A wholly owned subsidiary with $800 million in revenues of Valero Energy Corporation a Fortune 500 NYSE listed

company with revenues of $27 billion.

Gordon, Harrington & Osborne, CPA’s Andover, Mass May 1978 – June

1980

Auditor

EDUCATION and CERTIFICATIONS

Southern New Hampshire University, Manchester, NH

MBA, Concentration: International Finance

Merrimack College, North Andover, MA

BSBA, Major: Accounting

Certified Public Accountant – Commonwealth of Massachusetts

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