CFO

HERMAN KULLAR

** ****** ***, *****, ** *****. Cell: 631-***-**** email:******@******.***

PROFILE

Operations International Business Management Sales P&L Responsibility Finance

Semiconductor / Automotive / Retail / Entertainment / Music / Media Industry Background

Recognized as an extensively experienced broad based senior level executive showcasing proven abilities in operational

management, general management, business development, global distribution, business strategies and finance (UK & US

GAAP / IFRS). Proactive and results driven. A superb communicator with an enviable record of change management.

Turnaround Specialist accustomed to restructuring corporate hierarchies/procedures by specifying roles/responsibilities;

clarifying and standardizing reporting practices; winning buy-in on goals and targets; substantially reducing costs,

increasing staff morale and boosting motivation.

Business Development-adept at identifying opportunities, building business relationships and generating sales.

Identifying/developing new markets through active competitive analysis, product differentiation and establishing a

motivated agent/distributor network.

KEY COMPETENCIES

• Operations Management • Contract Negotiations and Closing •

Cost Analysis and Treasury • Strategic Planning/Due Diligence •

Business Unit Troubleshooting and Turnarounds • Private Equity / Venture Capital

• Corporate Direction, Re-engineering, Mission and Focus • Financial Accounting & SEC Compliance

PROFESSIONAL EXPERIENCE

CHIEF FINANCIAL OFFICER

Plures Technologies Inc., Canandaigua, NY. 2011- 2014

High Technology Private Equity backed Public Company that acquired its first subsidiary a MEMS / Magnetics wafer

manufacturing fabrication unit AMS Corporation in May 2011.

Establishing finance operational strategies by evaluating trends; establishing critical measurements; determining

production, productivity, quality, and customer-service strategies; designing systems; accumulating resources; resolving

problems; implementing change.

• Facilitated integration of AMS into Plures implementing policies, procedure and internal controls.

• Restructured and realigned costs to deliver profitability in the second quarter of joining.

• Oversaw all SEC reporting.( 10-Q, 10-K related XBRL and 8-K )

• Revamped standard costing, bill of materials, overhead absorption for all product lines and projects.

• Accumulated a total of $9 million of Debt Financing to date and in the final stages of closing on a $25 million

deal. Dealt with banks/ lenders, maintained insurances, 401k plan, benefits etc.

• Negotiated and put into place development / manufacturing / licensing agreements with various local and

international (Chinese, Japanese and Korean) entities.

• Implemented ERP system which is scalable with growth.

• Supported the CEO and advised the Board of Directors on an ongoing basis.

TREASURY & FINANCIAL REPORTING (Europe)

Avon Automotive Inc., Cadillac, MI. 2007- 2011

Avon was a $365 million highly leveraged automotive component manufacturing group consisting of 7 plants in Europe

and 3 in the US & Mexico.

Developed financial strategies by forecasting cash, capital, facilities, and staff requirements; identifying monetary

resources; developing action plans. Monitored financial performance by measuring and analyzing results; initiating

corrective actions; minimizing the impact of variances. Reported financial status by developing forecasts; reporting

results; standard costing; inventory; analyzing variances; developing improvements. Evaluated, structured and

administered debt and equity institutional financing.

• Oversaw reporting of seven controllers converting financials into UK GAAP for holding company and then in US

GAAP for head office reporting.

• Generated $1 million+ in currency gains whilst managing EUR v USD currency fluctuations in 2010. Having

undertaken comprehensive analysis eliminated Product Warrant Claim to the value of $600k from Audi, VW Land

Rover and Jaguar.

• Revised/implemented Global Transfer Pricing and Treasury Policy to comply with US/Local/UK GAAP.

• Single point of contact for banks (credit facilities): managed to refinance $70 million of debt and $32 million

revolving facility. Maintained Debt Covenant Compliance on extremely low levels of liquidity through the last

automotive downturn.

• Single handedly managed divesture of a business unit to a Korean company and played a critical role in the sale of

the whole company to a European conglomerate.

• Implemented ERP system in the new Indian plant.

FINANCIAL DIRECTOR (CFO)

Outside Organisation., UK. 2006- 2007

Outside is a Niche PR Agency specializing in Music and Entertainment.

Had primary day-to-day responsibility for planning, implementing, managing and controlling all financial and accounting-

related activities of the organization. Provided strategic leadership by working with the President/CEO to establish long-

range goals, strategies and tactics as they relate to revenue forecasting, budget management, cost benefit analysis and

reporting.

• Prepared the company for a strategic sale and introduced and implemented new business model moving away

from the traditional monthly retainer format.

CONSULTANT

Various Companies., UK. 2004- 2006

Clients included: The Future is Wild Ltd, 2F Ltd, Play it now Ltd, Firethorn Plc., Employment Opportunities, Anchorage

Capital and Current Technology Inc.,

Partnered with a variety of CEO/CFO’s defining improvements in business planning, improving systems, policies and

procedures, implementing strategies and efficiencies to improve business performance. Established/ restructured

organizations to enable start up’s and turnaround’s to attract Private Equity funding.

• Negotiated and concluded terms of agreement with owners/ accountants with a view to acquiring a small SME.

• Presented various funding options and initiated the process of raising $7 million.

• Analyzed, evaluated, identified and proposed fastest route to market for on-line music teaching company.

• Produced and presented a comprehensive business plan as well as due diligence package to numerous VC’s.

• Reviewed and proposed new strategic and operational plans with a view to entering new markets.

VICE PRESIDENT & CHIEF FINANCIAL OFFICER

Very Small Technologies Inc., Great River, NY. 2003- 2004

Identifying historically unique opportunity in the emerging Mems/Nano technology market, working directly between the

management staff at Real World to buy assets out of bankruptcy and initialize the business startup. Provided leadership,

management and vision necessary to ensure the company has the proper financial controls, systems and resources in place

to effectively support the organization.

• Instrumental in assembling the start-up team, relocating stateside to provide hands on, daily project management.

• Negotiated and concluded purchase/sale agreement between Bankruptcy Court, secured creditors and private

equity firms.

• Authored and shopped shareholders’ agreement, raising both seed funding and a total of $8 million equity

funding.

• Licensed the Intellectual Property acquired to a listed Hi –Tech Company creating an ongoing royalty stream.

FINANCIAL & COMMERCIAL DIRECTOR (CFO/COO)

Peter Gabriel, Ltd. / Real World Group., UK. 1995-

2003

A $45 million Group with twelve UK based subsidiaries and three American units, based on the activities of Peter Gabriel .

Served as a business partner and provided financial and commercial leadership to the organization. Had direct

responsibility for financial reporting, both internal and external; forecasting and budgeting; accounting policy; and

financial regulatory compliance and tax. Developed finance organizational strategies by contributing financial and

accounting information, analysis, and recommendations to strategic thinking and direction; establishing functional

objectives in line with organizational objectives.

• Imposed separate financial and operational accountability for each of fifteen entities to ease monetary dependency

on the Parent Company/Chairman. Provided total operational and fiscal turnarounds for two troubled, unprofitable

businesses.

• Identifying inherent inefficiency, created a new structure within the finance department, resulting in annual staff

costs savings of $400k+. Slashed audit bill by 90%, a savings of over $750k.

• Rejected unfavorable international guarantees and took direct control for the global marketing of a new

multimedia product. Generated $4 million plus in revenue the first nine months and a total of $12 million over

four years, turning the company into profitability.

• Introduced various tax planning exercises, which resulted in either significant rebates or minimal tax liabilities.

(Personal, Corporate, Inheritance, Capital Gains, VAT and International Tax issues.)

• Evaluated, selected and implemented a new accounting/operational costing software package that could not only

cope with the diverse nature of the group but also with the chairman’s personal requirements.

• Consolidated redundant 401k plan; computerized publishing and performance royalty systems; implemented a

group personnel function; introduced group death in service, permanent health and stakeholder 401k benefits.

• Dealt with all property management issues – residential and commercial in UK/USA and Italy.

• Administered Trade Marks and Patents world-wide.

• Managed all relevant external relationships including bankers, auditors, artists, promoters and publishers. Dealt

with Group’s/Chairman’s publishing and record royalties.

• Undertook Event planning/ production/ monitoring and reporting. Controlled all financial aspects for the

Chairman’s UP Performance Tour.

MANAGING DIRECTOR; BUSINESS DEVELOPMENT; CHIEF ACCOUNTANT(CEO/CFO)

General Instrument Corp; Semitron Industries, Ltd., Swindon, Wiltshire, UK. 1990- 1995

Developed this Hi-Tech Semiconductor Manufacturing Organization’s corporate, financial and business development

strategies by projecting acquisition and expansion prospects; analyzing organization operations; identifying opportunities

for improvement, cost reduction, and systems enhancement; accumulated capital to fund expansion. Took hands-on lead

position of developing, implementing, and maintaining a comprehensive cost-accounting system.

• Duties as included the day-to-day operation of the accounts department, supervising seven staff, producing

periodic month end, quarterly, year-end, statutory accounts,reporting to parent in compliance with US GAAP.

• Presided over the due diligence, negotiations and final acquisition of a company from a $1 billion+ US

conglomerate.

• I evaluated and implemented financial systems incorporating bill of materials costing, stock, WIP, product line

analysis for up to 1800 different variants.

• Oversaw accreditation and maintenance of BS5750 and ISO 9000.

• Led a complete reconstruction of the company, making radical changes including the formation of a new, focused

management team and establishing the corporate mission.

• Attracted $8 million of VC equity funding. Managed all banking, insurance, 401kplan relationships.

• Achieved a dramatic turnaround with an 800% increase in sales (from $2 million to over $18 million in three

years), achieving and maintaining a 33% operating profit. Accelerated growth in revenue and increased the

company’s export market from 35% to 70% of turnover.

• Took products through quality and specification approvals with intense multinational and national companies to

achieve preferred supplier status.

• Generated and presented a comprehensive Financial, Marketing and Industry analysis package to potential

Merger/Acquisition Parties, resulting in the eventual trade sale of Semitron.

REGIONAL PROJECT ACCOUNTANT

Jewsons Ltd., Swindon, Wiltshire, UK 1988- 1990

$180 million Building Products Retailer.

• Produced consolidated month end accounts for South West Region $44 million) consisting of 62 branches,

including sales and profitability analysis; variance analysis; preliminary profit estimates as well as producing

forecasts and budgets.

ADDITTIONAL INFORMATION

Bachelor of Arts degree in Accounting, with Honors: University of Central Lancashire, UK.

Fluent in Punjabi, Hindi & Kiswahili.

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