Edwin F. Westfield, III
** *** ****** **** ****, Woodbury, CT 06798 203-***-**** ******@***.***
SENIOR FINANCIAL MANAGEMENT EXECUTIVE
Cross-Function Experience & Cross-Industry Experience
Highly qualified Executive Manager offering 20 years of finance, operations
and sales management experience serving flexographic / offset printing,
flexible packaging, rigid packaging, specialty chemicals, metal stamping,
injection-molding/ blow-injection molding, assembly, construction and
service industries.
( Acquisitions/ Divestitures/ Integration ( Profitability
Improvement
( Strategic Planning ( Operating System
Development &
( P&L Management Implementation
( Topgrading & Team Development ( Restructuring
( Project Management ( ERP System Implementation
( New Product Development & Launch ( Structured Sales
Development
Professional Experience
Risdon International, Inc. - July 2008 - Present - Watertown, CT
Executive Vice President - Finance & Operations - Full responsibility for
all aspects of the business excluding sales and research for a $90M global
leader in cosmetics packaging with 8 plants worldwide reporting to the
President/ Chairman. Distressed/undercapitalized business with high risk
as a going concern.
. Established restructure plans to provide a path to profit executing
plant closure.
. Provided confidence to both internal and external parties to maintain
business relationships.
. Managed trade creditors to allow continuity of supply while minimizing
cash outflow.
. Team lead on sub-debt cash infusion approval with State Agencies.
. Maintained operations for six months post foreclosure proceedings
without new capital.
. Primary contact working with investment banking firm to recapitalize
the business.
MacDermid, Inc. - May 1998 - June 2008 - Atlanta, GA / Waterbury, CT
Vice President & General Manager Offset Americas & Latin America - 2005-
June 2008 - Full P&L responsibility for 2 business units totaling $35M
encompassing sales, technical service, manufacturing, research &
development, and customer service with over 120 employees in 4 countries.
Moved business from loss position with declining profitability to
growth/increasing profitability which led to divestiture of the business
unit to a competitor.
. Topgraded business over a 2-year period developing a team that is
executing a growth plan in a declining business.
. Established leadership presence and confidence in an organization
lacking trust and hope.
. Developed direct sales model with market focused sales plans to
identify gaps with targeted growth initiatives that increased the
sales funnel and stopped a multi-year sales decline in both US and
Latin America businesses.
. Executed on formal strategic planning process that has focused
business on long-term initiatives that impact results and position the
business to compete.
. Successfully negotiated and integrated acquisition of dealer channel
retaining 100% of the sales organization and minimizing customer
losses due to change in control.
. Successfully developed and commercialized new products to meet changes
in market and resolve customers' problems.
Edwin F. Westfield, III 203-***-**** ******@***.***
. Re-established brand equity after a significant loss in confidence due
to prior product performance issues. This translated into a 25%
growth in sales in full year prior to divestiture.
. Developed equitable variable sales compensation plans that paid for
performance, were achievable, and gained the trust of the sales force.
Low risk plans that allowed for comfortable base with limited upside
to high risk plans that paid a low base with substantial upside
potential.
Vice President of Finance and Operations - 2003-2004 - Full oversight of 3
manufacturing locations and all shared service functions for a $150M
division including Finance, IT, Marketing and Human Resources.
. Developed and implemented 2-year change management plans to establish
cost/inventory control, world class EHS, quality and a high
performance work environment in manufacturing.
. Successfully closed, relocated and integrated a manufacturing process
for a $4M product line which required successful process reformulation
to meet Title V permit restrictions while maintaining customer
performance and quality requirements.
. Reduced customer returns over a 2 year period with an annual savings
of over $800k per year through a "Zero Defect" quality initiative that
empowered the entire manufacturing organization to prevent adding
value to defective products, identify root cause and implement
corrective action to prevent repetition.
. Successful trainer and co-developer of modules of the MacDermid Owner
Earnings course focused on educating the entire business on basic
finance terms, reading financial statements, strategy and success
measures.
Vice President of Finance/ Director of Finance - 2001-2003 - Managed all
shared service functions for $250M+ combined business units, which
encompassed Accounting, Credit/Collections, and Information Technology.
. Reduced closing schedule by 2 days and financial reporting
distribution by 4 days through increased automation.
. Targeted financial reporting to focus on results and metrics driving
the business.
. Reduced DSO through increased cash collection focus, rigorous customer
filtering and increasing accountability beyond the credit department.
Controller - 1999-2001 - Managed all accounting functions for $150M
division in the US.
. Established subsidiary accounting functions in Mexico.
. Successfully integrated all back office functions including inventory
cutover of $25M acquired subsidiary on plan.
. Successfully negotiated positive settlement of $8M distributor
minimizing exposure related to old stock and maximizing cash flow to
MacDermid.
. Developed shared services team to function as an integrated portion of
the business.
Corporate Financial Analyst 1998-1999 - Reporting to the CFO, performed ad
hoc reporting/analysis, special projects, quarterly SEC reporting, due
diligence on acquisitions.
Matty's Paving & Construction Co. 1995-1998 - Business Manager - Watertown,
CT
Bowman, Monaco & Co., PC CPA's 1992-1995- Senior Accountant - Cheshire, CT
T.M. Byxbee & Co, PC, CPA's - Staff Accountant - Hamden, CT
Education and Certifications
BBA with a concentration in Accounting, Western Connecticut State
University - 1990
CPA - Connecticut State Board of Accountancy - April 1994
( Six Sigma Green Belt Certification - June 2004 ( PSS Sales Training
and Certified Trainer - 2003
( Complex Sale - RADAR Sales Training - 2005 ( Phoenix Training -
1999, 2002
( Negotiating Skills Training - 2004 ( Financial Acumen
Trainer - 2009