*** *. ******* ***** **** R. Harke 715-***-****
Wausau, WI 54401 **********@*****.*** Mobile 715-***-****
Qualifications Summary
Roll-up the sleeves financial and operational leader with broad experience
in manufacturing and turnaround organizations that is adept at managing in
a down market. Exceptional insight into efficient and profitable
operations, cash management, cost control, cost drivers in manufacturing
environments, and strategic and tactical decision making. Develops and
implements profit improvement plans, detailed forecasting models, and
working capital management improvement. Analysis of product introductions,
acquisitions, and strategic alliances. Skilled at assisting teams achieve
organizational goals. Focused on process improvement and resource
management in order to achieve growth and profit goals. International
experience. Johns Hopkins University MBA.
Professional Experience
HWD Acquisitions, Inc. d/b/a Hurd Windows And Doors, Medford, WI
April 2009 - Present
Was a $110MM manufacturer of high-end wood and aluminum clad residential
windows and doors. Revenue fell by 67% due to the recession and loss of
customers due to Chapter 11. HWD is a portfolio company of the Longroad
Asset Management private equity firm. Longroad specializes in buying
companies that are financially distressed.
Chief Financial Officer
Recruited to stabilize the business, consolidate facilities, reduce
inventory, and lower cost structure. Executive team member responsible for
all elements of Finance, Puchasing, Information Systems, and Acquisition
due diligence.
. Joined HWD shortly after they emerged from Chapter 11 and were under new
ownership. Highlights include:
. Consolidated 3 manufacturing plants in 2 cities into one plant. This
was done ahead of schedule and under budget. This freed up 384,000
square feet of manufacturing space and reduced operating costs by
$1.8MM on an annual basis. During this time also spent $2MM on plant
upgrades. Was able to do this with cash generated from Inventory
reduction and rework.
. Reduced Inventory from $13MM to $4MM in 12 months. Increased
Inventory turns from 3 to 6.
. Developed a very accurate rolling 52 week cash flow model that is
reviewed weekly with Longroad Asset Management.
. Accounts Receivable - reduced DSO by from 46 days to 33 days. 61 days
and beyond has dropped by 60%.
. Implementation of Information System infrastructure upgrades (A/S
400), robust customer-oriented front end (Ebid), and tied this to a
brand new MAPICS MRP system. Also implemented a Managed Print
Solution that has thus far resulted in a 35% cost reduction.
. Purchasing - aligning the entire value chain from vendors through
Production and Shipping. To begin to achieve this, implemented a
program to qualify Suppliers. Reduced the overall number of suppliers
by 20%. Implemented Consigned Inventory programs with top suppliers.
Supply agreements are in place with several suppliers.
. Leading Material Cost Takeout team that has thus far resulted in a 10%
reduction in Direct Materials.
. Using Lean Manufacturing techniques to reduce Direct and Indirect
Labor. Have thus far achieved an 11% reduction in Direct Labor, 14%
reduction in Indirect Labor, lowered Scrap by 25%, and have increased
Delivered On-Time & Complete to 97% in the first week and 99% in the
second week.
. Implemented a freight optimization program that has thus far resulted
in a 14% reduction in Freight costs.
. Led due diligence on 4 acquisition targets. Currently in negotiations
to purchase another distressed window company.
. Made numerous personnel changes in all departments and am developing
bench-strength in all areas.
. Currently negotiating terms for a Revolving Line of Credit.
Wausau Window And Wall Systems, Wausau, WI
March 2008 - April 2009
Was a $140MM industry leading manufacturer of highly sophisticated
commercial window and curtainwall products. Revenue fell by 55% due to the
recession. Wausau is a wholly owned subsidiary of Apogee Enterprises a
$900MM publicly traded company (NASDAQ: APOG).
Vice President - Finance
Recruited to reduce cost structure, consolidate facilities, and increase
plant efficiency. Executive team member responsible for all elements of
Finance, Purchasing, and Strategy, including financial planning, budgeting,
forecasting, audit, tax, and cash management.
. Worked with Operations to drive increased efficiency, utilization, and
productivity, and to reduce indirect labor and underabsorption.
. Responsible for all internal processes and controls, Audits, and SOX 404
compliance.
. Drove expense management and cost controls which led to less headcount
reduction and increased competitiveness.
. Led working capital and cash management with strict A/R, A/P, and
inventory control. Return On Capital Invested (ROCI) improved 23% during
my tenure.
. Prepared Annual Operating Plan (AOP), Quarterly and Monthly Forecasts and
Results.
. Oversaw and approved Lean Manufacturing and Six Sigma continuous
improvement projects.
. Fully involved in the implementation of a new Epicor ERP system that
replaced a 10-year old legacy system.
. Responsible for all job costing and budgets
. Developed and implemented a new corporate culture and core values.
. Team member responsible for helping design, plan, and move company into a
newly constructed 370,000 square foot, $20MM manufacturing facility and
corporate office. This combined three production facilities and offices
into one.
. Approved all capital requests and demanded short paybacks and clear
benefit tracking.
. Successfully operated in a Shared Services environment between the
Corporate Office and sister companies.
. Excellent, close working relationship with Apogee Executive Management.
Presented to Apogee Board of Directors.
. Engaged people with a sense of communication and openness
American LaFrance, LLC, Summerville, SC
December 2006 - January 2008
Was a highly distressed $325 million manufacturer of fire and commercial
vehicles that is a portfolio company of Patriarch Partners a Manhattan
based private equity firm. I joined shortly after they emerged from Chapter
11 and were purchased by Patriarch Partners.
Director of Corporate Finance & Strategy
Recruited to drive-out costs, increase efficiency, and get parts flowing
back into the company in order to build vehicles. Oversaw all financial
planning, budgeting, forecasting, cash management, and vendor management
for 4 production facilities, 3 refurbishment/modification centers, and 1
parts distribution center. These were located in 4 different states.
. Daily walks of the production floor and heavy involvement with Operations
reduced labor hours by 23% and scrap rates by 52% by planning and
directing new operational procedures aimed at increasing efficiency and
reducing costs.
. Negotiated payment plans with hundreds of vendors to allow for the flow
of parts in order to continue to build vehicles.
. Cleaned up the consolidation of plants that were closed and their
operations moved to the main manufacturing facility.
. Finance team member that worked with IT to streamline and optimize
processes in alignment with the implementation of an Oracle Enterprise
Resource Planning (ERP) system.
. Worked with Operations to prepare business cases for the termination of
certain product offerings and the introduction of new models.
. Developed business plans with Sales and Operations for the closing and
possible sale of several company facilities.
. Reviewed and made recommendations on agreements with OEM suppliers.
TIDI Products, LLC, Neenah, WI February 2005 - December 2006
$112 million manufacturer of disposable medical/dental products that were
owned by Fidelity Capital Management and eventually sold to Beecken Petty
O'Keefe.
Finance & Strategy Manager
Recruited to restructure and turn around the company to get it ready
for sale. Directed financial operations, budgeting, planning, reporting,
and strategy. Collaborated with C-level executives as a member of core
management team, contributing to production, product development and
implementation, and data strategy development.
. Worked with Operations and Sales to positively impact EBITDA by $800K
through the reduction of converted Stock Keeping Units (SKU) by 18% and
domestic and international Purchased for Resale (PFR) SKUs by 24% through
a SKU rationalization process.
. Reduced raw material SKUs by working with Operations and major suppliers.
In packaging alone, reduced corrugate SKUs by 90% (from 350 to 35) with
a significantly lower per box cost.
. Used best practices (employing Lean techniques) to streamline the sales
to shipment cycle, reducing cycle time from days to minutes.
. Provided strategic leadership by identifying mission critical operating
objectives, appropriate implementation approaches, and performance
metrics. Produced monthly management reporting on key metrics and
recommended expense cuts and restructuring.
. Applied Lean techniques to the entire operation (Manufacturing and
Office), resulting in carrying $1MM less Inventory with improved service
rates, reduced headcount, and increased office efficiency. Brought items
in-house that were previously made overseas.
. Worked with a third party to put the company up for sale. Made 22
presentations to prospective buyers and their representatives.
USEC, Inc, Bethesda, MD February 2002 - December 2003
$1.5 billion publicly traded supplier of fuel for nuclear power plants
(NYSE: USU).
Manager, Financial Planning & Analysis (FP&A) and Strategy
Directed financial planning, budgeting, forecasting, and analysis.
Prepared company long range plan. Led reviews of sales and marketing
initiatives, acquisition targets, and competitive information. Monitored
and analyzed changes in key business indicators. Served as primary
financial support to multi-functional teams. Provided C-level executives
with weekly status of key financial and operational metrics.
. Provided finance leadership by:
. Directing the development of vision, mission, and strategic
plan for the finance and accounting department.
. Performing due diligence on a $35MM acquisition of a
consulting & engineering firm.
. Serving as finance lead on multi-disciplinary product
management and marketing work teams.
. Reducing SG&A expenses by 22% over tenure.
. Led implementation of Lean techniques that resulted in a 30% reduction of
HQ staff but with increased efficiency.
Time Life Inc, Alexandria, VA February 1999 - February 2002
$700 million creator and marketer of CDs and DVDs to individuals and
through retail and catalog outlets.
Manager of Financial Planning
Responsible for financial planning of the entire $400MM Music budget. This
included three catalogs, direct marketing (television & print media), and
retail sales of all music products.
. Provided channel, account, and product analysis of sales and
profitability.
. Performed detailed analyses of subscribers including Average Revenue Per
Customer, Cost Per Gross Add, and customer churn.
. Analyzed advertising placements, catalog layouts, and mailings to
determine the effectiveness of products and campaigns.
. Led budgeting, forecasting, planning, and developed long range and
strategic plans.
. Performed due diligence on 5 successful acquisitions (2 domestic and 3
foreign).
. Responsible for analysis of all aspects of finance for three music
catalogs with 60 annual mailings to over 1,000,000 households.
GENICOM Corporation, Centreville, VA September 1993 - February 1999
$500 million manufacturer and service provider of printers for the mid-
range document solutions market. Went Chapter 11in 2000.
Senior Financial Analyst
Performed financial planning and analysis of sales on a channel and
account basis for both the manufacturing and service divisions.
Technautics, Inc., Arlington, VA October 1989 - September 1993
Privately held government contractor that had contracts (PHALANX Close In
Weapon System (CIWS) and MK46 Torpedo) with the Department of Defense
Financial Analyst
Staff financial analyst that prepared and reviewed business cases for the
sales of weapon systems to foreign governments (Foreign Military Sales FMS)
Education/Computer Skills
Johns Hopkins University, Baltimore, MD
Masters of Business Administration (MBA) - Finance - 2003
University of Essex, Colchester, England
Diploma - Government & Politics - 1989
University of Wisconsin, Madison, WI
Bachelor of Arts (BA) - Political Science - 1987
Numerous Lean, Six Sigma, and TQM courses
Oracle 11i, Epicor, Microsoft Excel, Access, Word, SAP, MAPICS, E-Bid,
Hyperion Essbase, Cognos, Peoplesoft, Demand Solutions, InfoManager
Professional Activities
. Member: Financial Executives Networking Group (FENG)