MICHAEL R. SHERMAN

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

Kildeer, Illinois 60047

847-***-****

acqnau@r.postjobfree.com

CAREER SUMMARY

Financial professional with extensive experience in technology, manufacturing, and distribution companies, both private and public. Partner to Presidents, Group Executives, and senior management. Demonstrated accomplishments in financial management, domestic and international business development, strategic planning, execution and process change management. Areas of expertise include:

Mergers & acquisitions ● Consolidation of multiple global entities

Strategic development and execution ● Business planning and forecasting

Corporate restructuring and reorganizations ● Corporate governance and regulatory affairs

Sarbanes – Oxley Act compliance ● International fiscal oversight

Strong analytical and decision support skills

PROFESSIONAL EXPERIENCE

ZUMBIER Inc., Waukegan, IL February 2013 - Present

Co-Founder and Corporate Officer

Responsible for all financial and corporate governance aspects of a start-up manufacturer of hand crafted artisan brews. Areas include: raising capital, equipment purchases, establishment of Board of Directors, stock issuance, legal registration and licensing, accounting policies and procedures, financial modeling, lease negotiations, tax filings, and banking relations.

Fischer Paper Products, Antioch, IL August 2013 – May 2015

$25 million manufacturer of paper packaging solutions for the Foodservice, Hospitality, and Agriculture industries.

V.P. Finance/ C.F.O

Reporting directly to the President and Owner, responsible for all aspects of finance, accounting, human resources, and information technology for a 3rd generation, family owned manufacturer.

Reduced accounting firm fees by performing all functions in-house that were previously outsourced while providing accurate interim financial statements.

Introduced and implemented logistics review resulting in savings of over $125k annually, representing an approx. 20% reduction, while improving service levels.

Raised the financial and professional acumen of the organization by creating numerous tools for several departments, as well as providing over 40 hours of training sessions to both financial and non-financial management.

Top Graded the HR and IT department heads with highly qualified professionals who had immediate and long term impacts on the organization’s success.

While improving the accounting to include G.A.A.P compliant policies and procedures, reduced month-end closing time from 14 to 8 days, including the preparation of an advanced financial review package for senior management.

Enhanced the organization’s strategic planning process by providing insight from years of experience, along with related tools.

Led the upgrade of the company’s ERP system (SYSPRO) on time and under budget.

Successfully led several performance improvement projects including reporting, quoting, inventory management, performance review (KPI’s), BOM’s and standard costing, expense reporting, economic batch quantities, etc.

TCS Education System, Chicago, IL April 2011 – February 2013

Global $120 million entrepreneurial, not-for-profit enterprise dedicated to training professionals in high level, applied fields such as law, psychology, and education.

Associate Vice President – Accounting/Corporate Controller

Reported directly to the Group C.F.O. Multiple entity responsibility for accounting, consolidation, control environments, financial acumen development, mergers and acquisitions, regulatory, legal and risk management, tax return preparation and filings, and regulatory and financial audits.

Reduced approx. $300K of outside services by performing such functions as technical accounting research, state and federal tax return preparation and filings, and acquisition related accounting previously outsourced.

Reduced audit fees by over $175K by managing an efficient audit process and providing accurate and complete financial records. Reduced amount of audit adjustments to virtually none compared to dozens in prior years.

Within 2 months, brought the accounting of multiple entities current from up to 9 months past due resulting in the first clean audit in multiple years and restoring credibility to the accounting and reporting functions.

Performed the accounting for two sophisticated acquisitions resulting in the elimination of audit derived significant weakness over acquisition accounting from the prior year.

Reduced payroll related expenses by $30K by performing internal review of policies and procedures.

The Sterno Group, Des Plaines, IL November 2008 – March 2011

International $75 million leading manufacturer and distributor of portable fire to the retail and foodservice industries. A unit of Blyth Corporation (NYSE:BTH)

Corporate Controller

Reported directly to the Group C.F.O. Group responsibility for multiple entity financial oversight, control environments and reporting to corporate and local management. Member of high caliber team hired to plan and execute divestiture (potential MBO) and/or sale of company.

Restored professionalism and credibility to accounting and control functions within 3 month time frame resulting in the remediation of significant weakness over financial reporting and avoidance of potential modified audit opinion for Blyth.

Introduced and implemented duty drawback procedures resulting in recovery of approx. $150K of duties paid on the importation of foreign products.

Initiated sales/use tax review on manufacturing purchases resulting in the refund of approx. $64K.

Upon review of freight payments, identified and recovered approx. $131K of improper billings for dunnage.

Liquid Controls Group, Lake Bluff, IL December 2006- September 2008

Global $185 million group of technology providers, manufacturers and distributors with a 360 orientation around precision management of high-value liquids and gases. A unit of IDEX Corporation (NYSE:IEX).

Global Vice President – Finance

Director of Finance and Accounting (2 months)

Reported directly to the Group Chief Executive Officer. Senior financial officer with global responsibility for finance and accounting; controls and financial reporting; mergers and acquisitions; international fiscal oversight; information technology; regulatory, legal and risk management; investor relations and participation on the Board of Directors of international entities.

Collaborating with senior management, evaluated and executed acquisitions of technology (Toptech Systems, Dec. 2006) and manufacturing (Faure Herman, Feb. 2007) companies expanding group’s growth via upstream opportunities from core competency. Transactions resulted in 50% increase in global revenues and further presence on the European continent.

Developed and led the successful implementation of accounting, finance, and IT integration plans for multiple acquisitions at the same time while continuing to meet or exceed corporate reporting deadlines.

Performed NEXIS study and related estimate of pre-acquisition sales/use tax, penalties and interest liability resulting in a $750,000 reduction in purchase price of acquired company (Toptech Systems). Developed plan for the negotiation of Voluntary Disclosure Agreements in 25 states in order to avoid potential taxes, penalties and interest of approx. $1.5 million.

Developed and led high performing global finance team and mentored non-financial managers to drive performance. Team consisted of five direct and 12 indirect reports, including domestic and international Controllers.

Successful implementation and compliance with Sarbanes-Oxley act, domestically and internationally. Directed risk assessment process, documented internal controls and testing, and enhanced corporate governance programs.

Formulated policies, tactics and pricing strategies with senior management team that facilitated sustained long-term revenue growth, superior operating margins and return on equity.

Led the implementation of Hyperion Financial Management System across group of seven entities within 3 months allowing consolidation of diverse systems, improvement in financial analysis, and reduction in month end closing by 1.5 days.

Planned and implemented changes in domestic and international shipping practices, negotiated energy contracts, and directed improvement in internal collections procedures resulting in aggregate cost reductions of more than $400,000 annually.

Enhanced charge back system for dormant Italian group company allowing the expedition in use of Tremonti tax benefit resulting in incremental reduction of 100K Euro in tax expense.

Created shared services environment for payroll, A/R and A/P across 4 group companies resulting in the reduction of functional area costs by 40%.

Participated in numerous investor relations visits that increased confidence and institutional ownership.

KaVo Dental, Lake Zurich, IL April 1996 – December 2006

Highly profitable, $210 million leading manufacturer and distributor of precision instruments and equipment for the medical and dental industry. A unit of Danaher Corporation (NYSE:DHR).

Group Controller, KaVo Dental (2004 – 2006)

Vice President - Finance and IT, KaVo America (2000-2004)

Controller, KaVo America (1996-2000)

Reported directly to the President. Responsible for the development and execution of business strategies; acquisition integration as the acquired and the acquirer; direction of purchasing and logistics; and conduct of the company’s financial, human resource, information technology, and administrative activities.

Restored professionalism and credibility to financial function within 5 month time frame resulting in timely and accurate monthly financial data and subsequent annual audit, without adjustment, for the first time in several years.

Working closely with senior management, drove organic growth from $18 to $80 million in 7 years while providing change management in a rapid growth environment.

Established and administered treasury program of hedging foreign currency with over $60 million in forward contracts resulting in approx. $15 million in realized foreign currency gains.

Saved company millions of dollars in potential sales/use taxes, penalties and interest by successfully negotiating Voluntary Disclosure Agreements in 37 states where company had NEXIS for over 10 years without registering or filing.

Conceived and initiated the assumption of sister company’s start up expenses allowing for the offset of current year income saving $280,000 in income tax expense. Relocated sister company’s mfg. operations 2,100 miles resulting in the achievement of economies of scale and related reduction in mfg. overheads of 40%.

Demonstrated strong technical skills by disproving proposed $1.1 million audit adjustment related to inventory valuation by big 4 accounting firm, as well as disproving proposed $755,000 audit adjustment by senior IRS foreign currency accounting expert.

Planned and implemented changes in inventory management and international shipping practices, and negotiated logistics contracts, resulting in aggregate annual savings of approx. $420,000.

Integrated the accounting function of acquired $20 million software company (DEXIS, April 2005) by closing office and relocating into shared services arrangement resulting in a reduction in headcount and other related costs of approx. $150,000 annually.

Led the successful implementation of integrated information system (SAP) in multiple locations reducing operating costs, improving management information, and improving seed to flower efficiencies. As a Key User in several modules, avoided significant debugging, training, and consulting fees.

Coopers & Lybrand, Chicago, IL December 1990 – April 1996

Certified Public Accounting Firm

Audit Manager

Reported directly to engagement Partners. Responsible for providing audit, accounting, and business advisory services to a portfolio of clients engaged in the manufacturing and distribution sectors.

Advised clients on a regular basis on accounting, auditing, taxation and business related matters.

Started with C&L as Associate, followed by promotions to Senior Associate/In-Charge Accountant and then Audit Manager.

EDUCATION

C.P.A., University of Illinois (1990)

B.S., Northern Illinois University (1990), Accountancy

A.A., Harper College (1988), Business

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