VP/CFO

Thomas Foskett, CPA

** ******* ****** ****** ****, NJ 08002

C:609-***-**** **********@*****.***

VP/CFO

Core Leadership Competencies

Team Leadership & Collaboration

Strategic Planning

Tactical Execution

ERP System Implementation & Upgrades

Capital / P&L / ROI/ Tax Matters

Financing Negotiations

Business Process Management

Forecasting and Budgeting

Pricing/Modeling

Professional Experience

Cetacean Marine Privately held Vessel management/maritime services company. Moorestown, NJ 2013 to Present

VP/CFO

Established a partnership with a billion dollar maritime company to team on governmental small business opportunities.

Negotiated current line of credit agreement.

Obtained security clearance to support Cetacean’s Facility Security Officer.

Facilitated full financial audit of Cetacean and its subsidiaries.

Coordinated the transition of new senior management with existing government contracting officers.

Lead acquisition team due diligence regarding the purchase of a maritime training company.

Implemented ADP into the corporation.

Coordinated the company move from Florida to New Jersey in March 2014.

TOTE Inc.Shipping and Logistics subsidiary of Saltchuk Resources, Seattle, WA a $2.5 billion holding company.

2002 – 2013

TOTE Services

VP Finance (2006 – 2013)

$120 million subsidiary engaged in Ship Management Moorestown, NJ

Promoted to lead day-to-day operations supporting all aspects of finance for the company. Oversaw IT function and its strategic direction, coordinated the pricing/modelling for RFP’s, banking relationships, employee relations, and process improvements. Liaison for both PwC annual financial audits and DCAA contractually mandated audits. Managed a nine employee department. Prepared and presented with the President the annual and five year strategic plans.

3% reduction ($400K per annum) in overall crew costs per annum achieved by relocating crewing department to Florida.

100%+ recovery in vessel arrest case settlement.

Successfully defended a rate assertion made by customer’s consultant the diplomatic resolution broadened the future customer relationship.

Obtained a 96% reduction in proposed fine from U.S. Customs and Border Patrol.

Negotiated positive rate adjustments from existing customer base all of which were accretive to EBIT.

Secured claim status reached in bankruptcy recovery claim in District of Puerto Rico, initially filed without legal assistance.

Instituted a mark-up for current services rendered to former customers for the defence of certain indemnified asbestos claims.

Salvaged relationship with commercial customer by revamping financial reporting to meet their specific needs.

Headed the implementation team of Lawson ERP system for TOTE Services.

Aggressively managed company through a loss of a significant commercial contract, guiding company back to profitability.

Sea Star Line

Corporate Accounting Manager (2002 – 2006)

$225 million high speed liner service U.S. domestic trade, Jacksonville, FL

Responsible for the overall integrity of the general ledger. Responsible for the accurate and timely submission of the financial statements and other business segment reporting. Hired and developed a staff of five. Workedextensively with operations to streamline the order to cash process.

Revised the accounting month to 5-4-4 scheme which provided an accurate measure of profitability.

Developed segment reporting for business.

Created an internal audit function.

Participated in the upgrade of Great Plains and aided in the selection of a VAR.

Managed the company through sales and use tax audits.

Selected to Learning Advisory Council and Quality Management Board.

Implemented positive pay and ACH.

Established formal written procedures for the basic transaction cycles.

NATIONWIDE MONEY SERVICES(GAXC)

Corporate Controller

2001 – 2002

$15 Million ATM owner/operator transaction processor, Jacksonville, FL

Responsible for all accounting operations, risk management and human resources. Supervised a staff of five. Evaluated banking relationships, and worked with president on the overall preparation of SEC reporting.

Renegotiated debt positions with former owner (First Data) and ATM note holder (Dana Credit Corp)

Established a profit by ATM model.

Demonstrated to public accounting firm that a going concern comment was not applicable to the entity.

PETROFERM

2000 – 2001

$90 million international chemical manufacturer Jacksonville area subsequently relocated to Chicago.

Corporate Controller

Newly created position. Developed and maintained corporate policies. Oversaw the monthly consolidation of the six subsidiaries.

Centralized the A/P function of the three U.S. manufacturing sites. Also implemented ACH.

Shortened the close cycle coordinated the annual audit performed by KPMG.

Managed a Dutch buyback of shares.

MEDTRONIC Xomed (MDT)

1997–2000

Medtronic $7 Billion Surgical Device Manufacturer, Xomed subsidiary $260M manufacturer of ear, nose and throat devices. Jacksonville, FL

General Accounting Manager

Responsible for maintaining integrity of general ledger. SEC reporting, sales tax filing in 45 states. Consolidated fifteen entities on a monthly basis, including five international subsidiaries.

Implemented ACH and positive pay.

Replaced the Chart of Account during an upgrade of the ERP system.

Represented the general accounting department as the Lean manufacturing representative from general accounting department.

Resolved a chronic PPV reconciliation with cost accounting.

Provided ad-hoch reports to support marketing, and overall profit by product reporting.

Successfully defended entity through several sales tax audits

Coordinated the PBC portion of annual audit (PwC).

Achieved VAT recovery through research and implementation of an approach.

GATX LOGISTICS (GMT) 1991-1997

$270 million subsidiary contract and public warehousing, Jacksonville, FL

Manager of Operations Accounting (1995-1997)

Responsible for IS accounting, fixed asset management, start-up accounting, pricing support and cost accounting

Obtained a significant sales tax recovery relating to long term lease rules.

Established a profit by customer report.

Hired and developed a staff of four accounting professionals.

Manager of Information Systems (1994-1995)

Leveraged the J.D. Edwards ERP system to provide for budgeting and forecasting of all IT Projects.

Wrote the white paper which provided the basis for capitalizing internally developed software.

Derived $50K in revenue per annum by recouping cost of programming.

Negotiated long term leases with IBM.

Guided twenty cost centers through the annual budget process.

Internal Auditor (1991-1994)

Performed operational audits and special projects nationwide.

Discovered a $1 million inventory shortage during due diligence work of a potential acquisition.

Education

STETSON UNIVERSITY, De Land, FL Bachelor of Business Administration, Major Accounting

CERTIFIED PUBLIC ACCOUNTANT (active Certificate from state of Florida)

SOFTWARE PROFICIENCIES

All Microsoft Office products, Dynamic GP and SL (Great Plains and Solomon), SAP, JD Edwards, Lawson, Epicor, Sage Business Works. OLAP tools such as Hyperion Essbase, Cognos, Impromptu and FRx.

Member of FENG – Financial Executives Networking Group

Member of the AICPA

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