Company Sales

J. Sydney Whalen

P.O. Box ***, Alamo, CA *****-**09 925-***-**** ( *********@***.***

CFO / CONTROLLER / PROBLEM SOLVER

Financial Controls / Risk & Cost Containment / Treasury / Taxes /

Startups / Workouts / Restructurings / Divestitures / Bankruptcy

Proceedings / Liquidations / M & A / Domestic & International

Accomplished executive skilled in working with healthy or distressed

companies to maximize potential. Assisting mid-sized to large companies in

diverse industries. Revitalized operationally and financially troubled

domestic and international subsidiaries of Kaiser Engineers. Designed

risk/cost containment strategies, restructured operations, and negotiated

divestitures.

Key Skills: Minimizing liability exposure to maintain corporate financial

integrity. Orchestrating major changes with maximum buy-in. Overhauling

ineffective procedures and systems to increase efficiency and cut costs.

Leading cross-functional teams to achieve targeted goals. Managing real

estate financing, shortage and over capacity.

CPA Equivalent, Canadian Chartered Accountant. Canadian Institute of

Chartered Accountants.

Career Summary

Turnarounds & Workouts, Forensic Financial Analysis, Whalen & Associates,

Inc., 1983 - Present.

Provided hands-on executive management services to mid-sized companies

experiencing operating and financial difficulties. Served as Acting CEO,

COO, GM, and CFO of numerous organizations in diverse industries. Services

included turnarounds, workouts, restructurings, divestitures, mergers and

acquisitions, and various bankruptcy proceedings.

Performed forensic financial analysis services on complex financial

transactions and in divorce proceedings. In the latter, assured the

divorcee client received her share of the marriage estate.

Previously, VP Finance & Administration/CFO, Kaiser Engineers.

Managed $6M budget and 600 people after building organization to support

company's rapid growth. Supervised all financial and administrative

activities worldwide. Turned around and sold distressed subsidiaries.

Returned Brazilian and Korean subsidiaries to profitability and negotiated

profitable sale. Started as Controller, growing supervised staff from 55

in Oakland to 600 worldwide after parent company divested division,

creating stand-alone organization of 39 companies.

Highlighted Accomplishments

Returned six affiliated companies to profitability in two months, closing

Chapter 11 proceedings in 14 months. Companies in ready-mix and

cement/aggregates suffered from industry recession, mismanagement, and

competition. Forced by Creditor's Committee to take two companies into

bankruptcy proceedings. Acting as GM and CFO, liquidated portion of

operations and implemented reorganization plan. Reversed decline,

generated profit and resumed operations.

Negotiated sale of wholesaler in Hong Kong, recovering 183% of expected

return to bank lender and relieving owner of $.4M guaranteed debt. US

leader in wholesale wicker products had $28M in annual sales, but had lost

entire net worth after relocating. Acting as COO/CFO, cut staff 52% and

inventory 50%. Negotiated sale of company through Chapter 11 proceedings.

Recovering more than expected return, bank lender waived $.7M loan to

owner.

Implemented liquidation plan for $30M leasing company, cutting guarantors'

exposure from $9M to $2M before settling. Equipment leasing company had

been hurt by recession in agricultural industry and mismanagement. Debt

had risen to $30M. Elected President/CEO/Director. Reduced size of

operations, eliminated unprofitable units, cut staff, and sold

properties/equipment. Developed liquidation plan. Cut bank debt and

guarantors' exposure. Avoided bankruptcy.

Co-founded/built two financial services companies, growing one to $20M and

profitably sold interest. Started independent securities broker/dealer

firm with partner. Managed all non-regulated operations. Formed holding

company, corporate broker/dealer, and third subsidiary for non-securities

activities. Established branch operations and recruited staff. Grew

company from four brokers in one location to 190 brokers in 50 branches

over six years.

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