Financial Management
Resume:
Ted Myers
Wadsworth, IL *****
***********@*****.***
www.linkedin.com/in/tedmyerscpa.com
https://twitter.com/Tedmyerscpa1
Diverse financial leader experienced with “Big-4” public accounting multinational and midsize private, private equity owned companies. An accomplished history creating leading, evaluating financial programs and supporting information systems which include budgeting, tax planning and real estate conservation of assets. A proactive leader who interacts well with other financial leaders providing consultative guidance and support of company planning initiatives.
Specialization
Mergers & Acquisitions
Consolidations
Business Valuations
Foreign Currency Translation
Standard Cost Analysis
Organizational Restructuring
Business Strategy
ERP Advisory
Financial Modeling
Skein Integrated Systems LLC/Advanced Integration Technology- Chesterfield, MI. 2017 – Present
www.aint.com/
Interim CFO - A $150MM plus private equity financed aeronautics automated tooling business. Specializing in automated robotics, tooling assembly and manufacturer of private, commercial and U.S. department of defense aircraft.
Implemented cash flow management strategy
Generated 20% improvement in cash flow results
Designed ERP migration strategy, successfully executed plan
Saved $150,000 in third party ERP support costs
Analyzed, reconciled working capital components uncovered significant differences
Uncovered $2,000,000 savings
Implemented cost reduction plan
Achieved 8% reduction and operating costs
Implemented accounts receivable collection strategy
$5, 000,000 in delinquent receivables collected
Created business integration plan
Integrated business operations within four months vs. planned six
Hospira, Inc. - Lake Forest, IL. 2016 - 2017
www.hospira.com/
Senior Finance Manager - $1BB+ division of Pfizer Inc. Business unit provides injectable drugs and Infusion technologies, develops, manufactures and distributes their products worldwide. Managed intercompany profit-in-inventory accounting and reporting activities, six-month contract role.
Rewrote, (Mumbai outsourced) work instructions and financial analytics.
Improved close process by 10%
Medical Murray, Inc. - Barrington, IL. 2013 - 2015
http://medicalmurray.com/
Chief Financial Officer - A $15MM plus privately held life sciences company specializing in design, development, and contract manufacturer of unique medical catheter implants, and less invasive vascular, urologic, and surgical components.
Implemented financial dashboard and established key target metrics
Generated 10% improvement in financial results
Established stakeholder accountability program
Saved 25 % in Cap-X costs
Advocated, gained leadership team support for financial forecasts - quarterly and annually
Realized 8% improvement in operating profit
Re-evaluated, revised standard cost of production measurement process
Improved profit margins by 3%
Produced monthly quarterly cash flow forecasts
Improved cash flow management by 15%
Implemented annual budgeting process
Improved top line results by 10%
Kraft Foods/Mondelez International Inc. - Northfield, IL 2012 - 2013
http://www.kraftheinzcompany.com/
Senior Finance Manager - A $54B dollar publicly owned company.
Provided export accounting replacement staff training, database migration management and financial reporting.
Led export department team to successful business divesture
Saved $150K in disruption costs
Clearlight Partners LLC - Newport Beach, CA. 2010 - 2012
http://www.clearlightpartners.com/about/portfolio-companies/
Interim Chief Financial Officer - Pure Health Solutions, Inc.- A $55MM Clearlight private equity owned portfolio-company. Provided audit, accounting, financial consolidation, reporting and integration support for major acquisition target opportunities. Oversaw month-end close process, standard cost variance analysis and annual standard cost roll-forward
Provided goodwill impairment testing analysis and valuation modeling
Saved $150K in third party valuation service costs
Led consecutive year-end audit activities and produced company annual report
Saved $100K in audit fee service
Created financial models & analyzed break-even strategies
Achieved top line growth of 12%
Analyzed, evaluated business acquisition opportunity
Saved costs $100,000 in third party valuation services
Created monthly quarterly cash-flow analysis
Improved cash-flow management by 15%
Hamilton Schuyler, LLC -Wadsworth, IL. 2009 - 2010
http://www.tedsonmyerscpa.com
Provided financial management services to midmarket and Fortune 500 client firms.
Serving the manufacturing, distribution, healthcare and retail industries.
Public companies: Electro Motive Diesel, Filtrona, Mar’s retail; Private Firms: Hammacher Schlemer,
Transforming Solutions, Inc.
Analyzed, mitigated inventory losses due to – pre-acquisition overvaluation
Save $750,000 in post-close acquisition costs
Created automated Inv. posting process JDA vs. SAP
Reduced close process by 25%
Insight Beverage, Inc. - Lake Zurich, IL. 2008 - 2009
www.insightbeverages.com/
Controller - $100MM plus privately held organization.
Calculated standard costs and converted company’s current average product costs of production to standard cost.
Performed production simulation and calculated company’s new standard product costs.
Saved $75K in third party consultant fees
Identified, recommended alleviation of non-profitable product lines
Potential company savings of $1,500K annually in inventory carrying costs
Supported, modeled, led company’s costing strategy - standard cost vs. historical average
Company realized 10% margin improvement
Automated month-end financial close and reporting process
Realized 20% closing process improvement & alleviated cost of one employee
Established internal Excel template budget process
Realized $250,00 in annual operating cost savings
ETA Circuit Breakers, Inc. - Mt. Prospect, IL. 2006 - 2008
https://www.e-t-a.com/home/
Division Controller - $150MM manufacturer, distributor of circuit breaker products to other OEMS
Designed, presented, timely financial reports and communicated profitability results to leadership team.
Redefined inventory audit action plan
Saved $250,000 in consulting costs
Revised comingled inventory cost structure, euros vs. dollars
Saved $150,000 in potential audit fees
Automated month-end close & financial reporting process
Recognized 30%-time improvement in closing process
Revised inventory procurement and costing strategy
Inventory turned-over five times annually vs. historical three
McDonough Medical Products Corp. - Buffalo Grove, IL. 2002 - 2005
http://www.mcdonoughmedical.org/
Corporate Controller - $125MM life sciences company. Leading developer of dental and medical imaging equipment. Provided monthly consolidated financial reporting, target acquisition services including financial modeling, due diligence, business integration, goodwill impairment testing, product breakeven analysis strategy and evaluation.
Provided due diligence services Gendex Dental target acquisition opportunity
(out-bid by Danaher Corp.)
Saved over $150,000 in third party deal costs
Renegotiated credit line, revised capital structure maintained banking covenants
Improved overall banking relationship between bankers and management
Consolidated three business unit cash flow management process and improved cash resources
Cash flow improved by 30%
Hologic, Inc. - Bedford, MA. 1998 - 2002
http://www.hologic.com/
Director of Finance – Flouroscan - A $55MM, division of $1B + Hologic Inc., leading publicly owned life sciences company. Flouroscan product line is the leading medical imaging brand in sports medicine.
Provided annual budgeting, quarterly financial forecasting, cash management, manufacturing costs and product analysis, reporting of transactions of foreign subsidiary, quarterly and annual financial reporting and maintained strong audit relationship with major international public accounting firm.
Designed effective organization benchmarking standards
Provided industry targets and improved ROE by 50%
Implemented MRP program and improved inventory turnover ratio
Improved inventory turn-over ratio by 1.5 times 2.5 to 4 times annually
Previous Experience: Ameritech Communications, Inc. Middleby Inc., Plante Moran & Deloitte Touche
Education & Professional Certifications:
Degree
Program
SFLP
Tuck Grad. School of Bus. (Dartmouth)
Hanover, NH.
MBA, Finance & Accounting
Loyola University
Chicago, IL.
BAS, Accounting
Northeastern Illinois Univ.
Chicago, IL.
University of Illinois
Certified Public Accountant (CPA)
State of Illinois
Software fluent:
SAP FI/CO & Business Intelligence trained, Great Plains 9.0, Dynamics AX, Navision 4.0,
Ecometry & I-Renaissance, Macola, FRX report writer, Microsoft Office Suite
Other Certifications: Current in: IFRS; Sox 404
Six Sigma Green Belt Trained, Chicago Deming Assoc.
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