Management Sales

THOMAS J. ASPINWALL, CPA

** ******** **** ***************, ** 10992 845-***-**** ***********@*****.***

CHIEF FINANCIAL OFFICER / VICE PRESIDENT – FINANCE / CONTROLLER

Consummate Finance Leader – Valuable Member of Executive Management Teams

Partnering Corporate Finance with Core Operations & Enterprise-Level Strategies, Initiatives & Goals

Process Reengineering, Turnaround & Performance Improvement

Distribution & Manufacturing – Multinational / Multi-Site / Multimillion-Dollar Public & Privately Held Companies

Exceptional track record of success in driving the financial direction and health of dynamic start-up, turnaround and high-growth enterprises. Results-driven and decisive executive with technical proficiency in all aspects of finance, a strong work ethic, experience-backed judgment, and uncompromising ethics/integrity. Easily interface across all internal/external organizational levels, ranging from the shop floor, internal teams, C-level, third parties, and customers. Effective in evaluating new situations, quickly addressing and resolving issues, and overcoming complex challenges. Core Competencies:

• Strategic Planning – Business & Finance • IT & ERP Implementations

• Corporate Finance & Accounting Management • Process Reengineering

• Financial Planning, Analysis & Reporting • Working Capital Management

• Budgeting & Forecasting • Activity Based Costing

• Insurance & Risk Management • Negotiations – Union, Banking & Vendor

• Asset-Based Financing • Pension & Benefits Administration

• Due Diligence & Corporate Acquisitions • Human Resources & Employee Management

• Treasury, Tax & Payroll • P&L / Balance Sheet Management

PROFESSIONAL EXPERIENCE & ACHIEVEMENTS

FRANKLIN STAINLESS CORP – Bethpage, NY

Stainless Steel Service Center generating $30 million in sales and with 40 employees.

Chief Financial Officer (2007 to present)

Recruited by Principals to lead the company through an acquisition. The company was successfully acquired in June 2008. Accountable for corporate finance, legal, strategic planning, financial planning/analysis, tax, treasury, accounting, budgeting, IT, HR, production, operations, and administrative functions. Focused on the selection of an appropriate suitor; then pre- acquisition due diligence. Managed 5 direct reports and 21 indirect reports.

• Performance Improvement–Strengthened management performance and achieved timely and accurate financial management and reporting by instituting first- time internal controls, sound financial policies and procedures, and a daily scorecard reporting system that provides managers with key metrics in their areas of responsibility.

• Working Capital Management – Improved working capital management, achieved efficient use of credit lines, and decreased past due A/R from 34% to 17% as a percentage of total receivables by developing and implementing first -time customer credit policies/procedures and a 12-month rolling cash, A/R, and inventory forecasting model.

• Negotiations & Cost Savings – Fostered negotiations that resulted in favorable contract terms and significant savings.

– Achieved $1,200,000 annual savings by developing and instituting a company- wide cost reduction program.

– Handled complex and sensitive union contract negotiations: Negotiated wage, healthcare, and pension cost freezes in year 1 of our new contract. Wage increases in years 2 and 3 were 2% compared to 6% for prior contract.

– Successfully negotiated first time working capital and equipment lines of credit with financial institutions.

Thomas J. Aspinwall, CPA Page 2

RAB LIGHTING, INC. – Northvale, NJ

Leading manufacturer of professional grade energy conservation motion sensors and outdoor lighting equipment with $62 million in sales and 130 employees; products are sold via electrical distributors and are available nationwide.

Chief Financial Officer (1998 to 2007)

Key member of the management team; accountable for corporate finance, including strategic planning, financial planning/analysis, tax, treasury, accounting, budgeting, IT, HR, operations, and administrative functions. Brought on board to create and lead the corporate finance organization. Focused on improving the IT infrastructure, optimizing working capital, negotiating favorable contracts, increasing factory productivity, and containing the rising cost of healthcare. Member of executive team that investigated and selected

the solution to establish an IT infrastructure suitable for growth. Directed 6-person team and provided indirect oversight to an additional 11 employees. Oversaw an additional 77 employees while directing manufacturing operations during past 2 years.

• ERP Implementation – Drove measurable improvements in operational efficiency, data accuracy, and long-range business planning by implementing Prelude, a UNIX-based ERP system that enabled RAB to grow 12% per year from $36 million to $62 million and reengineer plant operations.

• Working Capital Management – Improved working capital management, achieved efficient use of credit lines, and decreased past due A/R from 34% to 11% as a percentage of total receivables by developing and implementing a new customer credit policies/procedures and a 12-month rolling cash, A/R, and inventory forecasting model.

• Strategic Planning – Key member of the executive team that introduced the practice of strategic planning and prepared the company’s annual, 3-year, and 5-year strategic plans.

• Negotiations & Cost Savings – Fostered negotiations that resulted in favorable contract terms and significant savings.

– Generated $300,000 annual savings by negotiating a new $17 million line of credit (secured with RAB’s inventory and A/R) that drove a decrease of 100 basis points on the line, and removed sub-limits and most covenants.

– Achieved $100,000 annual savings by negotiating open payment terms with import vendors, which eliminated the need for traditional letters of credit.

– Drove $300,000 annual savings by renegotiating freight carrier contracts at a 25% increase in discount rates.

– Handled complex and sensitive union contract negotiations: Changed contract period from 3 to 4 years with 6% compensation increases per year compared to 7% for prior contract and secured $52,000 in medical plan givebacks.

• Healthcare Benefits & Savings – Generated a $100,000 savings while improving quality/choice of benefits by restructuring employee healthcare benefits to include optional lower cost alternative health plans.

• Process Reengineering – Increased output 30% over a 3-year period while reducing factory headcount 34% as a key member of an executive team that reengineered plant operations (e.g., assembly/shipping/warehousing processes, installed faster picking equipment, changed from cell manufacturing to assembly line techniques).

• Performance Improvement – Strengthened management performance by implementing a daily flash reporting system that provided managers with key metrics in their areas of responsibility.

• Hiring & Staffing – Grew the finance organization to 6 full-time accounting professionals, and hired 3 IT professionals and a full-time HR professional.

AMERICAN STRIP STEEL/NORBET TRUCKING CO. – Kearny, NJ

Steel Service Center and captive trucking company (one owner) generating $100 million in annual revenues.

Vice President – Finance (1996-1998)

Recruited by the CFO to manage the corporate finance function (general and cost accounting, financial planning and analysis, risk management, IT, HR, treasury management) while challenged by a turnaround situation involving both companies and their finance organizations. Brought on board to fix several problems (e.g., American Strip Steel had neglected closings/financial reporting for months and never integrated an acquisition; Norbert was still on a manual accounting and operational system) and focused on totally rebuilding both companies’ financial organizations. Managed 3 direct reports and 20 indirect reports.

• Turnaround & Profit Revitalization – Integral member of a turnaround team that strengthened the business infrastructure, reversed combined losses of $2 million per year and restored profitability in 2 years.

Thomas J. Aspinwall, CPA Page 3

– Recruited top-caliber professionals after restructuring accounting, IT and HR areas, and evaluating existing staff.

– Achieved timely and accurate financial/management reporting by instituting first-time internal controls and sound financial policies/procedures.

– Maximized operational efficiency and achieved timely and accurate operational/financial information at Norbet Trucking Company by researching, selecting, and launching a new financial management reporting system (TMW Trucking Software) that integrated real-time data from all facets of the operation into a single system.

– Key components of American Strip Steel’s return to profitability: Changed the sales commission program to one that required attainment of minimum gross margins before orders were approved/shipped; also developed a daily scorecard reporting system that provided managers with daily feedback (key metrics) to improve their performance.

CENTRICO, INC. – Northvale, NJ

$100 million capital equipment manufacturer.

Controller (1990-1996) / Assistant Controller (1985-1990)

Promoted to senior member of the core management team and corporate finance organization with responsibility for general/cost accounting, budgets, IT and HR. Managed 3 direct reports and supervised 15 indirect reports.

• Reengineering & IT – Facilitated a successful acquisition, improved company’s ability to meet business requirements, and enhanced reporting systems and existing IT infrastructure by driving reengineering and ERP initiatives.

– Completed post-acquisition reengineering of company-wide business processes with Boston Consulting Group.

– Increased accuracy in job costing and inventory by selecting and launching MK Knowledge (Windows-based ERP system).

– Achieved timely and accurate financial transaction processing/reporting by researching, selecting, and launching Integral Systems, a financial reporting system on an AS400-based ERP platform.

EDUCATION / ADDITIONAL INFORMATION

B.S., Accounting – St. Peter’s College, Jersey City, NJ

Key Executive Program – Harvard Business School, Boston, MA; Certified Public Accountant – New Jersey

Member – American Institute of Certified Public Accountants; New Jersey State Society of Certified Public Accountants

Computer Applications & Systems: Microsoft Office, QuickBooks Certified, Prelude (distribution ERP system), MAI Basis, MK Knowledge, BAAN, MAPICS, TMW ( Freight System) StelPLAN, Integral Systems, QuickBooks Enterprise, Microsoft Project, Visio, Enmark

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