Finance Executive CFO

CLIFFORD J. LUDWIG

*** ********* **** **. ********, KY 41017 859-***-**** *******@***.***

Global Transportation & Logistics Finance Executive

Accomplished senior financial executive with expertise in financial reporting, planning and analysis, strategic planning, project management and employee development. Operationally oriented with excellent analytical, decision-making, problem solving, communication and general management skills. Dedicated leader applying sound business judgment and high standards for achievement when facing challenges to improve bottom line results and to drive operational performance.

Professional Experience

GAP INC, Erlanger, KY 2005-Present

Director of Finance, Global Transportation, Logistics Division

Scope of responsibility expanded to include financial leadership over International Ocean and Air freight, and Global Parcel shipping (Total Scope $500M). Including valuation of In-Transit Inventory; financial reporting; support third party freight procurement process; oversee freight claim and invoice audit vendors. Leverage expertise to provide consultation to Logistics operating departments, and Senior Logistics leadership. Develop competencies of the team, and provide mentorship across the division.

Director of Finance, North American Transportation, Logistics Division

Financial leadership responsibilities for an outsourced transportation operation with annual spend of $140M. Ensure recording of expenses in compliance with GAAP, oversee preparation of annual operating budget, rolling forecast and strategic plan; report on monthly performance to plan.

Led and participated in major transportation and logistics cost saving and service improvement initiatives. Tracked and reported financial impact.

Re-engineered the budget, forecast and monthly close process to improve accuracy. Established standard costing base and develop appropriate metrics to drive models; communicated process to stakeholders.

Evaluated financials of third party providers to ensure continuity; delivery of service to standards.

Prepared financial impact analyses of changes to the logistics network resulting in annual savings $5.5M.

Led cross functional logistics initiative to improve inventory integrity and reduce freight claims exposure.

Assumed responsibility for compilation and publication of Logistics Performance Dashboard and drove improvement in content and quality of metrics.

BUSH TRUCK LEASING, INC / PTG LOGISTICS LLC, Cincinnati, OH 2003-2005

Chief Financial Officer – Consolidated Annual Revenues aprox. $50M

Oversaw and managed all financial matters including Accounting, Finance, Tax, and Cash Management; also Human Resources, Information Technology, Insurance and Legal issues for three entities. Managed relationships with banks, PEO, investment bankers, outside accounting firm, insurance providers and legal counsel.

Partnered with CEO to secure lines of credit with financial institutions. Prepared formal offering document, directed compilation of due diligence material and negotiated terms of borrowing agreements. Implemented a vehicle titling trust to provide added security for financial institutions.

Developed an administrative reorganization plan to centralize functions for the three companies to reduce costs. Implemented staffing changes to recruit higher skilled personnel without increasing costs.

Researched standards governing lease accounting and restated financial statements accordingly.

Revised daily cash management procedures to reduce weekly borrowing on operating credit line.

Interface with outside legal counsel on a variety of matters. Directed negotiations to reduce settlement outlays or to maximize recovery. Dissolution of a predecessor company following bankruptcy, including termination of an ESOP.

Evaluated insurance policy and negotiated with a new carrier to obtain coverage at lower cost.

Reviewed and modified health benefit plans to reduce the cost to the company.

THE OHIO RIVER COMPANY/MIDLAND ENTERPRISES LLC, Cincinnati, OH 1979-2003

Corporate Controller (2000-2003) – Annual Revenues aprox. $400M

Responsible for departmental operations in Corporate Accounting, Tax, Financial Planning and Analysis, Rate Development, Contract Administration, and Cash Management. Ensure compliance with GAAP and direct compilation of quarterly and annual SEC reports. Managed relationships with banks, accounting firm and parent company. Led and developed twenty-eight management, professional staff and clerical personnel.

Represented the company in providing information to prospective buyers during the due diligence process, and supported the financial position of the company. Prepared and delivered formal presentations to management and awarded a special bonus to acknowledge extra effort put forth.

Led a team charged with reviewing the operations, contracts and finances of an under performing division. Made immediate operational improvements; initiated cost saving programs; implemented routine performance measurement reporting.

Prepared and directed analyses supporting numerous capital investment decisions. Ensured projects qualified for capitalization according to company policy and GAAP standards.

Oversaw planning and scheduling of physical inventories at subsidiary companies.

Assistant Controller (1998-2000)

Served as project sponsor and senior financial representative on a team that developed a data warehouse that improved the quality of analysis and financial reporting. Analytical staff was reduced over time and profits were further enhanced through the availability of productivity information. Awarded a performance bonus to acknowledge the effort to deliver the project on time and within budget.

Implemented invoice review process generating annual savings exceeding $300,000. Developed the system and procedures, determined manpower requirements, directed the implementation and established progress reporting. Awarded a performance bonus to acknowledge efforts on the project.

Improved the strategic planning process by enhancing the computer models. Expanded the functionality and improved the metrics driving the models to enable the development of multiple scenarios.

Director of Financial Planning (1994-1998)

Responsible for financial planning functions including preparation of the corporate strategic plan. Collaborated with senior management of Midland and the parent company, and an investment-banking firm, in evaluating a major acquisition. Primary responsibility for modeling and analyzing the target company. Served as the business user representative on a team assembled to construct a data warehouse. Presented demonstrations of the system to financial groups as well as parent company senior executives.

Researched and acquired data on competitor barge fleets to perform analyses for strategic planning. Developed model to analyze characteristics and project future retirements. Self-taught database software.

Developed a ten-year capital and maintenance expenditure plan that resulted in improved long-term cash flow forecasting and better information flow to management regarding the condition of equipment.

Created an industry barge supply and demand model that became an integral part of the strategic plan.

Prepared evaluations of subsidiaries to propose reinvestment or divestiture strategies.

Computer Skills

Microsoft Office products: Excel, Word, Outlook, Power Point

Hyperion Essbase & COGNOS Impromptu and PowerPlay – business intelligence tools for data warehousing

ALCAR Business Planning and Analysis software

Education

Northern Kentucky University, Highland Heights, KY

Bachelors of Science (BS), Accounting

Northern Kentucky University, Highland Heights, KY

Metropolitan Education and Training Services MBA Essentials Certificate

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