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Gilroy, California, United States
April 26, 2019

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Gilroy, CA ***** 831-***-****

CFO/Controller/Director of Finance/Consultant

Financial Analysis & Reporting / Business Strategy / Cost Control / Six Sigma / Startups / Turnarounds / Cloud

FP&A / SWOT & Needs Analysis / Process Improvement / ERP / Multi-Sites / Non-Profits / KPI’s / Leadership

IPO’s / Problem Resolution / Vendors / Negotiations / Operations / Outsourcing / Policies & Procedures

Forecasting / Audit Management / SOX / Board Management / ROI Analysis / Cash Management / Fundraising

High performance, dedicated and persistent executive with the ability to manage and meet executive management and board demands while aligning scope to meet all financial needs. Results driven leader that values customer and client feedback to build profitable, win-win business outcomes in Fortune 500 organizations.

Exceptionally adept in analyzing financial needs, improving productivity and consistently growing revenue by protecting creep expense costs. Energetic and quality aligned to solve difficult program, project and business roadblocks. Managed auditor, banking and risk partnerships.

My executive strengths include:

Diverse industry experience in High-Tech, Medical Devices, Manufacturing, Consumer Products, Food & Beverage, Healthcare, Construction and Non-Profits

Strengthening internal controls, clarifying managerial authority levels and increasing accountability

Adapting technology through superior hardware and software solutions

Delivering significant cost-savings repeatedly

Understanding manufacturing, processes and budgetary standards

Communicating to all levels of management and employees clearly and effectively

Education: MBA, University of California, BS, Finance & Accounting, University of California. CPA – State of Oklahoma, (Inactive). Technologies: ERP (Expandable, Oracle, JD Edwards, Sage 100, QuickBooks, Computer Ease, Account Review), Planning Tools (Alight Planning, PPM, Excel), Electronic Expense Reports (Concur/PCard – Three Implementations)

Career History and Highlights

Recent CFO

Ginger People Group

2018 to February 2019

For profit manufacturer and distributor of ginger-based products worldwide with sales of $30M

Key leadership member with CEO/Owner and Executive Staff supervising 5 employees including IT and HR.

Developed first integrated P&L and Cash flow budgeting tools for four entities

Replaced ADP payroll with Paylocity to improve service and reduce fees

Implemented Concur expense reporting to reduce clerical overhead and automate expense reporting

Developed analytical database for profitability analysis of all products…gross margin by product

Implemented revised processes for sales deductions and trade-spend accounting impacts $4M of P&L

Guided new cash forecasting process and control of inventory payments to match inflows and outflows

Introduced owner to potential investor contacts

Managed all insurance and benefit areas of the business…hired third party personnel service TPO

Published revised employee handbook updated for all labor law changes in California

Managed IT staff and third party…implemented EDI with Walmart

Interfaced with audit partner for annual audits

Managed banking relationship with Bridge Bank which held a $3M line of credit based on AR and Inventory

Outsourced portions of AP to third party to reduced exposure to employee turnover

Hired new AP Accounting Manager to improve staff and provide professionalism

Developed ROI models for new products and promotion spending

Developed first Chart of Authority to defines roles and responsibilities for all staff

Supported Sales in performing new product and promotion spending payback determinations…go/no go


Clinica de Salud del Valle de Salinas

2015 to 2017

Non-Profit provider of medical, dental, mental health and optometry services to the underserved client population in Monterey County with 250 employees and sales of $36M.

Provide leadership to a staff of five direct reports and oversight of 12 finance and billing professionals.

Researched telecom budget and saved significant costs. Analyzed $2M annual telecom budget for the first time in five years. Engaged a cost recovery third-party to identify potential savings. Realized savings of $400K annually, after less than one year.

Delivered automated reporting solution. Company processed more than 200 manual expense reports monthly. Implemented Concur’s PCard and web-based expense reporting solution. Additionally, reduced the number of purchase orders by thousands and saved up to $100K annually.

Evaluated and presented systems improvement to the BOD. Current system did not allow for workflow and management approvals on-line. Presented $50K solution to the Board. Eliminated paperwork; users order items on-line allowing for faster shipping. New system includes an inventory system.

Michael R. Underwood Experience Continued Page 2

Achieved approval to automate AP invoicing. AP processes more than 1500 invoices each month manually. Evaluated and received approval from the BOD to implement the Consur third-party product. Current implementation in process will allow for one FTE to address more value added work for finance.


Rose Ryan, Inc. Consulting


Financial analysis at a public company was being split into two separate firms. Charged with identifying which IT assets were to be associated with each new legal entity. Researched and sorted out several thousand servers to specific countries and cities. Resigned for full-time opportunity at CSVS.


Rebekah Children’s Services

2011 to 2014

Non-Profit provider of mental health services for children up to 17 years old with a staff of 225 full-time employees and an expense budget of $21M.

Led five direct reports for all finance, HR and facilities functions. Partnered with CEO and executive team to evaluate the winning combination of programs to bring agency to cash breakeven by FY16.

Brought agency back to sound financial footing. Identified recurring expenses that were $2M over budget and unsustainable. Worked with CEO and department managers crafting a new budget. Eliminated some staff and increased productivity. Saved $700K annually by switching benefit providers. Achieved total savings of $2M annually over one year.

Significantly reduced back payment. County had failed to maintain reporting system with CSVS and imposed a retro-active back payment of $2.9M. CEO and CFO negotiated with the Department of Social Services to reduce the amount. Engaged attorney to assist in securing a favorable outcome for RCS. Achieved reduction of $1.6M after six months of negotiations.

Contract CFO

Concept Excellence

2009 to 2011

Assisted telecom company to wrap-up operations and conclude an acquisition by a large public company. Managed the financial function including cash-flow, supporting CEO, assisting VC’s selling the firm and guiding employees as they were integrated into the new company or let go. Assignment concluded after the was purchase completed.

Director of Finance & Accounting

Monterey Gourmet Foods

2007 to 2009

Public company with multiple product lines and four manufacturing facilities. Distribution network included 11,000 store fronts. Key customers were Costco, Sam’s Club and Safeway. Purchased by a Korean food manufacturer and restructured operations.

Managed a staff of 15 and all financial functions including, cost accounting, AR/AP, inventory control and software solutions for multiple locations.

Revised reporting cycle to improve reporting tools. Collaborated with CEO and CFO to align all four locations and management. Put in place monthly reviews between functional heads and the CEO/CFO. Improved

Michael R. Underwood Experience Continued Page 3

business operations details brought into to the reporting cycle. Increased overall understanding of the interaction between operations, sales, marketing and finance that facilitated results, in 90 days.

Collaborated with consultant to implement SOX requirement. Directed managers for accountability in following regulations, including establishing a software tracking tool. Reduced closing cycle by seven days, eliminating wasted steps and delays.

Business Unit Controller

Milgard Windows & Doors

2005 to 2007

Provider of products to the Bay and Central Valley of California producing 4,000 units per day with sales of $120M

Drove profit improvement and spearheaded improved annual budgeting and planning cycle. Extensive Six Sigma involvement to reduce plant losses and automate quality failure data collection. Managed staff of five.

Reversed product losses. Company in rapid growth mode was incurring losses of $1.7M annually. Reviewed bills of material and attendant costs discovering certain costs were being paid, but not built into the product pricing. Recaptured $1.7M after three-month discovery process.

Contract Corporate Controller

Odwalla (Coca-Cola)


Provider of a variety of drinks and food products via a national distribution system with $120M in sales.

Delivered support to all management levels and specifically the CFO. Supervised all accounting and finance operations for a nationwide brand. Implemented SOX regulations. Managed 15 staff. Contract ended.

Vice President of Finance

Accordion Networks

2001 to 2003

Venture backed startup with $38M invested. Key investor was Intel Capital and product was a wireless device for in-room connectivity for high speed internet and video on demand for the hotel industry. Restructured $6M in debt through workout agreement with 140 vendors for equity and small cash payment. Sales of $5M.

Key player in generating infusion of cash. Company needed to raise $8M quickly and potential investors required unsecured debt cleared. Formed debtor committee with outside attorney and completed a workout. Allowed the funding to close and continue operation for eighteen months.

Earlier positions included: Corporate Controller, Omnicell / Director of Finance & Administration, RadioLan / Finance Director, LifeScan (Johnson & Johnson), Division Controller, Network Equipment Technology / Manager of Operations Accounting, Anthem Electronics / Assistant Controller, Plant Controller & Corporate Planner, Shaklee Corporation

Professional Affiliations / Personal

Past Member – Financial Executives International (FEI), Silicon Valley Chapter

Past Member – Institute of Management Accountants (IMA), South Bay Chapter

Avid reader of history. Completed several ancient history of the world and Central American courses. Enjoy the outdoors and fitness. Active in Church Service Organization activities that support my community.

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