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Media, Pennsylvania, 19063, United States
January 15, 2018

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Joseph S. Friedman

*** ******** **

Rose Valley, Pa 19063

(215) ***-****


Chief Financial Officer with significant experience leading complex organizations. Proven skills and outstanding record of talent management, transformational activities, portfolio management, and development and support of strategic plans. Key areas of expertise:

Control, Compliance

Operations Management

M&A Planning, Execution

Tax Planning, Implementation

Capital Market Planning, Management

Restructuring Activities

Investor Relations

Strategic Planning

IT Strategy, Management

Global Businesses

Risk Management

Portfolio Management


Cushman & Wakefield – A TPG Portfolio Company (April 2012 – September 2016)

EVP of Finance (CFO), Global Controller, Chicago, IL, Los Angeles CA

Cushman & Wakefield, created by the merging of DTZ, Inc, Cassidy Turley, and Cushman & Wakefield, is a current portfolio company of TPG, representing a $6 Bill fully integrated provider of corporate real estate/property services catering to global investors, owners, and occupiers of all types of real estate across all geographical areas. Service lines provided to a wide array of clients including investment agency, leasing agency and tenant rep, property and facilities management, project and building consultancy, valuation, portfolio and development consulting, research and investment and asset management

Selected Accomplishments (as previous CFO and current Controller):

Created stand alone division infrastructure for accounting, finance, and financial reporting in a newly developed Global Divisional office in Los Angeles CA

Responsible for Global finance, accounting, and IT organization in excess of 500 people. Integration of Global Team into new Global Divisional construct

Integration of finance, accounting, reporting, controllership functions as a result of DTZ acquisition ($500 mill Global real-estate Company closed in Dec ’11)

Took ownership of Global tax and treasury system/infrastructure (located in London and Sydney)

Significant “simplification”, cost optimization projects managed around shared service, legal entity rationalization, and bank account and banking relations

Oversaw ($40 mill) Global ERP (Oracle) implementation

Managed Global cost-out programs geared to deliver 60 mill over a 3 year period

Prepared business for sale to Private Equity. Active participant in sale process including financials carve-out, management presentations, debt rating presentations and lender presentations

Managed debt placement process

Created standalone Global finance organization (Chicago) thru rationalization of three acquired Companies and building out finance/controllership staff as needed; Introduced new processes covering all aspects of accounting, finance

Preparing business for eventual IPO; activities include Sox readiness, creation of internal audit function, creation of Audit and Risk committee, systematic review and profile of current risk landscape, conversion of historical financials to US GAAP (from IFRS), preparation of S-1 and other required SEC filing doc’s and managing IPO timeline with key external advisors and internal Team

JSF CONSULTING (2011 – April 2012)

Private Equity consulting predominately in the mid market space that includes strategy, mergers and acquisition valuation, transition planning, market / industry intelligence, transformational change management, and exit planning

TYCO INTERNATIONAL (1989-October 2010)

Tyco International is a $17.0 billion diversified multi-national corporation specializing in the manufacturing, distribution, sales, and service of Security, Fire Protection, and Flow Control Products

CFO/VP of Finance, Flow Control (2006-October 2010) Princeton, NJ

Flow Control is a $4.5 Billion global provider of flow control (valves and controls) and heat management products/solutions. Segment makeup is a complex environment including 130 active legal entities, 80 manufacturing plants, 300 locations, 90 brands, and over 15,000 employees with 80% of all activities occurring outside the US. Led all finance, accounting, controllership, business analytics, planning and budget, IT, M&A, investor preparation, and execution of Company’s Tax and Treasury programs

Selected Accomplishments:

Creation of compliance and controls group to promote effective internal control environment. Group leveraged to implement Sarbanes Oxley programs with requirements implemented on time and under cost. Improved internal control environment resulting in the highest internal and external audit scores across the Tyco portfolio

Compliance program/review implemented covering FCPA, trade compliance and third party (agent/distributor) effectiveness creating a world class compliance environment

Execution of internal leverage programs that created a tax, treasury efficient environment with cash reparations generated in excess of $200 million and tax savings estimated at $50 million per year

Global internal transfer pricing program developed, implemented to improve tax compliance environment in a tax efficient manner

Bank account reduction program enabling the implementation of an improved cash pooling process that enhanced the movement and delivery of corporate cash

Global currency and commodity hedging program developed, implemented that had reduced economic exposures while enhancing cross border margin activity

Simplification efforts to establish back office transactional process centers in key geographical areas (North America/Latin America/Pacific/Asia/Europe) creating an enhanced internal controls environment, a 35% reduction in legal entities, and a reduction of disbursement points by 50%. New structure part of a developed overall plan that successfully reduced cost basis by 5% per year with these and other cost containment/ efficiency programs contributing to net savings of $20 million per year

Significant restructuring activities in excess of $200 million developed and executed over a 4 year period with financial paybacks in excess of 20% returns

First ever M&A process developed that enabled a disciplined approach facilitating key acquisitions/business disposals in Latin America, Europe and Australia

Developed portfolio strategy that was centered on vertical markets and product groupings. Strategy continues to be used as blueprint for acquisition, disposal, and restructuring activities

Working capital improvement plans initiated resulting in an improvement of $100 million free cash flow due to a reduction in inventory balances

IT environment overhauled with the development of a common network that has enabled a worldwide SAP implementation that will reduce ERP instance footprint from 70 to 3 over a 5 year period. IT operating costs reduced from $35 million to $30 million per year

Scenario planning developed and used as a guide during economic downturn to manage business at various activity levels. Guide helped to mitigate effects of global downturn, with business portfolio performing better than most peers

Enterprise Risk Management process developed with updated views presented to the Tyco board

Established and implemented a talent review process throughout the organization that resulted with most direct reports upgraded over a 1 year period and also enabled significant top talent moves across the Tyco portfolio

Reconstituted finance structure to align business analytics with new vertical structure

Interim President, Flow Control Americas (2009-October 2010) Princeton, NJ

$1.0 billion division of Flow Control covering all Americas commercial and operating activities. Responsibilities include full profit & loss and management for 12 plants, multi-sales/distribution/service sites, commercial staff of 300, marketing, engineering, human resources, and finance

Selected Accomplishments:

Successfully transitioned business focus from a regional format to an end market and product view structure

Significant working capital efficiencies accomplished resulting in inventory reductions in excess of $50 million

M&A activity resulting in key geographical acquisitions along with the disposal of non-performing assets. Brazilian acquisition completed that filled a notable product line gap and enhanced geographical presence. Disposal of several small, non strategic assets in an ongoing effort to optimize portfolio

CFO/VP of Finance, Fire & Building Products (2000-2006) Lansdale, PA

Responsible for all finance, accounting, financial reporting, M&A, and IT activities for a $1.5 billion division that is the world leader in design, manufacturing, sales/distribution of fire protection products

Selected Accomplishments:

Created a newly-formed division through the integration and combination of a large global fire sprinkler company acquisition with existing Tyco fire sprinkler businesses. New division enabled a business platform to serve as a basis for future growth by both organic and inorganic means resulting in compounded sales growth of 12% over a five year period

Business transformational activities that included plant closures and consolidations that resulted in 5 plant closures and a global footprint reduction in excess of 25%, rationalization of 3 distinct product lines into 1 that resulted in 50% less sku’s and an overhaul of operating structure from a regional model to a global product line model that resulted in a reduction of operating costs of 25%

Significant simplification efforts including the rollout of a global ERP system, legal entity restructuring that resulted in 30% less legal entities, and back office transaction processing contributing to cost savings and an enhanced internal control environment

Transformational efforts resulted in business net margins moving from break even to 15% of sales over a 5 year period and ROI returns doubling during the same period

Corporate Controller, Grinnell Corporation (1994-2000) Exeter, NH

Led all Controllership, reporting, consolidation, and M&A activities for a $1.0 billion division that manufactures and distributes industrial building products throughout the Americas. Management of substantial acquisition activities resulting in important additions to the portfolio, most notably in Latin America. Revamping of financial reporting process and controls with the implementation of Hyperion Enterprise

Regional Controller, Grinnell Corporation (1989-1994) Fullerton, CA

Operational Controllership responsibilities for a $200 million sales/distribution business covering the Western United States. Emphasis on inventory controls and operations management


Enserch Corporation was a $1.0 billion oil and gas exploration and service company

Regional Controller) Garden Grove, CA

Operational Controllership responsibilities for a $50 million oil well service business covering the West Coast of the US. Emphasis was on creating a strong internal control environment

Internal Audit Manager Houston, TX

Management of operational and financial internal audit function with a staff of 6 for a $200 million US oil well service division

Internal Auditor Houston, TX


MBA, Pepperdine University, Malibu, CA

BBA Accounting, West Virginia University, Morgantown, WV

CPA, State of Texas (License active)


American Institute of Certified Public Accountants (AICPA)

Texas Society of CPA’s


Involved with various non profit activities including board and board advisory committee support

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