Dennis Kring

Madison, IN ~ 812-***-**** ~ ac03mz@r.postjobfree.com

PROFESSIONAL SUMMARY

Corporate Business Leader with 24+ years of experience and demonstrated expertise in the areas of Finance and Accounting Management. Delivers the background, drive and experience to make a significant contribution to strategic planning, operational efficiency and bottom-line profitability.

Successful international business and export track record.

Extensive Merger and Acquisition expertise

Visionary Program Manager able to direct enterprise-wide process improvements

MBA with strong Sarbanes-Oxley (SOX) compliance

International and multi-plant financial leadership experience

Software: MS Office Suite, JD Edwards, MS Dynamics AX, SAP, Quick Books, AS 400

EDUCATION

Indiana University Southeast – New Albany, Indiana, MBA May (2002)

Indiana University Southeast – New Albany, Indiana

BS in Business Administration, Concentration in Accounting (1983)

CAREER ACCOMPLISHMENTS

Marcus Paint Company 2016 to Present

Well-established private company in business for over 160 years, providing OEM’s with high quality

cost effective coating products and consultation

CFO

Financial leader for company in the business of producing high quality custom coatings for OEMs. In

business for over 160 years, Marcus Paint provides our customers with a carefully researched custom

designed armor that protects their products in the most attractive, efficient and cost-effective manner.

As a business leader, I direct all accounting, budgeting, forecasting, HR and reporting processes, assuring

that all financial information is in direct alignment with successful implementation of operating and

strategic plans, including an effective KPI process. Active participant in creation of strategic plan with

concentration on increasing bottom line results through cost control and reduction and profitable top line

growth. I also have all responsibility for Operations, Safety and Quality, assuring safe processes that

deliver the highest quality product on time with zero defects.

Drove inventory reduction of $250,000 through increased visibility, elimination of “just in case inventory” working with customer to reduce on hand requirements. Also worked with operations and customer service to reduce or eliminate batch movements.

Established monthly metric system

Focusing on product and customer profitability, implemented pricing changes to increase top line growth estimated to be $25,000

Interim Controller 2016 to 2016

Lead and direct all accounting functions and processes including month end close and reporting for a

small, family-owned business. Leading effort to create budget and related key performance indicators, as

well as establishing process to prepare rolling forecasts

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Super ATV, LLC 2015 to 2015

Fast growing private company that engineers, manufactures and sells consumer ATV/UTV vehicle parts

Accounting Manager/Financial Analyst

New position created for fast growing company that buys, manufactures and sells consumer ATV/UTV

vehicle parts. Directed all accounting and internal controls, working closely with senior management and owners to assure accurate reporting structure exists to provide evidence and explanation as to progress towards strategic objectives, including development and implementation of metrics, product profitability, capital budgeting, cash flows, budgeting and forecasting and other information reporting as needed.

Reviewed all vendors/invoices to determine opportunity for tax refunds, and successfully recovered $35K in overpaid sales tax

Developed forecasting model for owners, highlighting impacts of growth

Designed and implemented monthly product class profitability reporting, focusing on 80/20

Revamped chart of accounts and G/L) to better align with reporting and information needs

Led initiative involving owners and supply chain to rationalize product offering utilizing 80/20 analysis, eliminating approximately 20-25% of unprofitable SKUs. Related project to implement inventory reduction initiatives was also done, identifying opportunities to reduce inventory by up to 40%.

Marmon Retail Products, Inc., dba Cerro Electrical 2014 to 2015

A $250MM, 200 employee operating company of the Marmon Group, a $9B Berkshire Hathaway

(NYSEE-BRK.B) international company

Controller

Directed accounting function of the Electrical segment, which manufactures building and other

specialty wire selling mainly to customers such as Home Depot and Menards. Responsible for

leading the accounting team of six in accomplishing on-time and error free monthly reporting,

forecasting, budgeting and in depth analysis of operating and financial results. Championed

improvement opportunities within the accounting group as well as actively participated in

segmentation reporting, ensuring cost allocations are reasonable and tied to correct cost drivers.

Led Kaizen event to streamline closing process resulting in reducing closing from four days to three days

Directed cleanup of Accounts Receivable, reducing 90+ day past dues from 8% of receivables to less than 2%

Created breakeven analysis as management tool for operations, focusing efforts in areas for greatest opportunity, resulting in reductions of overtime by 20%.

Revamped reporting process, combining operations focused reporting with GAAP reporting, assisting plant leadership in better understanding financial impacts of decisions

Martinrea International, North Vernon, IN Division 2013 to 2014

Tier one automotive supplier with just under 200 employees and a division of Martinrea Industries

(TSX:MRE) a multi-national $3 billion dollar company. Main customers included GM, Ford and

Chrysler

Controller

Lead the accounting team of three in accomplishing on-time and error free

monthly reporting, forecasting, budgeting and in depth analysis of operating and financial

results. Also directed supply chain group of one direct and four indirect employees. Provided cross

functional financial leadership with other functional managers as a partner to assure they receive timely

and relevant information to assist in decision making.

Established process for month end close, including development of close calendar including journal entry responsibilities, reconciliations, and a monthly operating report. Reduced close time from 4 days to 3 days, allowing more time for monthly performance analytics

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Led reduction of inventory by $500,000 and increasing turns by 25%

Strengthened working capital and cash flow; collected over $1 million of past due tooling receivables, and established visual metrics and focus on current working capital and countermeasures for problem areas.

Lead budget process, working with other managers to assure responsibility and accountability. Budget was completed timely.

Flow International, Inc. – Jeffersonville, Indiana 2009 to 2013

Flow was a publicly traded $250-300 million, multi-national company (NASDAQ:FLOW).

Plant Controller

Directed accounting functions of local plant in Jeffersonville, which had an operating budget of $80

million and 120+ employees. Responsibilities included budgeting and forecasting, project POC

calculations, month end closings, SARBOX compliance and financial process improvements.

100% on time completion of month end processing

Aided in 20% inventory reduction by highlighting disconnects in material procurement and project schedules

Began movement from standard costing to actual costing

Elimination of one position from accounting department

Oversight of accounting transition to new Dynamics AX business ERP system

Serve as Financial Partner on Local Management Team, with focus on developing short and long term strategic plans

Rotary Lift - Madison, Indiana 1995 to 2008

$300MM multi-plant, multi-national operating company of Dover Corporation (NYSE: DOV), at the

time a $6 billion multi-national company

Operations Controller/Project Manager

Managed company wide projects for formation, direction and management of cross-functional teams. Work with all levels of employees to bring projects in on time and within budget. Served as interim controller for manufacturing site that was shut down in 2005.

Assimilation/integration of Chinese merger partner into Rotary Lift including accounting, customer service, sales and inventory. Served as “de-facto” product manager during integration phase directing customer service personnel and product management. This business represents about $20M in sales with profit margin of 10-12%.

Headed team to close manufacturing facility in Fort Worth, TX. Assisted in developing severance packages, disposing of fixed assets, relocation or disposal of remaining inventories, integration of manufactured products into existing facilities. Closure netted gains in fixed asset disposals of approximately $500K and eliminated overhead costs of $1.5M.

Participated on team that developed justification and development of plan to close Canadian production operation. The closure eliminated redundancies in accounting, sales and shipping functions, added approximately $1 million to earnings.

Spearheaded several improvement projects, called Kaizen Events. Some examples are:

Scrap reduction – led team to i.d. process errors, unrecovered costs, and minor improvements. Scrap reduced from $36K to $20K per month in first 6 months.

Month End Close – eliminated 1 day from monthly accounting close, from 5 to 4.

Reduction of Working Capital – spearheaded reduction of working capital by 20%

Accounting and MIS Coordinator

Accounting and finance oversight and reporting for satellite companies included in consolidated operations. Directed development of information systems.

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Reorganized IT department to integrate disparate systems. Results include development of a distributor website to manage leads, creation of sales data base and distributor performance reports, implementation of Budget Plus, a budgeting software, providing OLAP capabilities.

Led accounting due diligence in acquisition of number one domestic competitor, a $25M company. Reviewed all balance sheet items as well as developing comparative income statements after creating GAAP adjustments. Prepared the corporate acquisition workbook, including projections of future earnings to determine ROI and internal rate of return.

Served as project leader for exploring the implementation of a new ERP system. Team selection, contract negotiation, project planning were among the major, including timing, scope and costs

were among the major responsibilities of this project, which was ultimately stopped at the corporate level due to economic conditions.

Led efforts to create European sales offices in England and Germany, including formation of corporate structures, implementation of accounting and reporting systems, defining transfer costing process to align with various taxing authorities and aiding in the interview and selection of employees

Provided financial guidance during due-diligence and integration phases of $50MM German acquisition

Accounting Manager

Responsible for all accounting functions, financial reporting, budgeting and audit coordination. Worked with other senior managers to develop system of reporting and measures to help better manage the business during a time of rapid growth and massive cost reductions.

Developed and implemented a Direct Accounting System, which allowed for better understanding of true costs by expensing labor and overhead as period costs, and focus on inventory and cost reductions. In 5 years, profits grew by 100%, hours to produce the most popular product dropped from 16 to 8 hours, and inventory turns grew by 100%.

Designed a reporting system called “Gap Analysis” that pinpointed profit effects of market growth, market penetration, process improvements, acquisitions, and fixed cost changes. After presenting this tool to the Dover Presidents Meeting, it was adopted corporate wide.

Directed organization in satisfying all Sarbanes-Oxley requirements, working with consultants and outside accountants. No significant findings during my tenure.

Hanover College – Hanover, Indiana 1989 to 1994

Comptroller

Managed internal operations including Human Resources, Purchasing, Contract Administration, Systems Administration, and Information Systems. Directed accounting functions including Payroll, A/R (credit and collection), A/P, Student Aid, and General Ledger. Trained and supervised 10 personnel. Managed cash flow, revenue projections, management reporting/training, financial statement reporting, and budgeting process. Served as liaison for year-end audit processes and procedures.

Business Office Manager

Managed the business office, which included supervision of Student Accounts Specialist, A/P Specialist and Cashier. Directed monthly close procedures and had full responsibility for General Ledger. Served on committee to select new enterprise software, and led the implementation of accounting module by developing new chart of accounts and financial reporting more conducive to fund accounting. Spearheaded fixed asset inventory, evaluation and depreciation due to accounting change for non-profit organizations. Developed methodology to allocate and record investment income in correct funds. Coordinated annual audit.

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