CFO

Mike Beard

**** **** ****** ** ******, GA *****

404-***-**** (cell) *********@*****.***

Chief Financial Officer

Strategic Business Planning Fiscal Management Operations & Administration

Highly accomplished professional with wide-ranging success driving profitability in a manufacturing product development, and distribution setting. Goal-oriented leader with progressive 25+ year career providing strong leadership, planning, and analysis in financial operations. In-depth understanding and expertise in managing manufacturing costs and variances while offering sound financial advice to guide significant corporate change. Demonstrated capacity to deliver outstanding, measurable results to the bottom line. Core competencies include:

Strategic Planning & Corporate Structuring

Forecasting & Profitability Analysis

Executive Advisory & Decisions

Accounting & Inventory Controls

Policy & System Development

Team Building & Motivated Leadership

Professional Experience

Home Source International, Inc., Home Source Manufacturing, Inc. – Atlanta, GA

Chief Financial Officer (5/2007-Present) Chief Financial / Operating Officer (6/2011-Present)

Demonstrated leadership in an entrepreneur organization with revenue growth from six million to fifty million in the last six years. Provided strong financial control with limited resources through M&A, strong cost controls, and restructuring. Also working as the COO, I am responsible for all departments with the exception of sales and product development. Created and implemented M&A strategies in my current role, and formally, as Director of FP&A at WestPoint Home, developed strategies that took a company from a negative $200 million in EBITDA to a breakeven before leaving for my current position.

Provided financial leadership for growing organization by obtaining financing for the acquisition of a competitor while implementing financial controls for existing business. Develop restructuring strategy and integration of both companies through common ERP systems, strategic hiring, training, and operational direction for the organization. Provided senior management with future profitability analysis of key retail programs and other financial models for planning and budgeting. Strong spreadsheet and database skills were utilized to assist in planning and coaching management planning goals.

Key Achievements:

Provided key bank financing for growth in such a way to provide for significant cash availability for large retail programs for Bed Bath & Beyond, Costco, Tuesday Morning, and Macys.

Modeled and implemented restructuring and consolidation scenarios to provide significant cost savings in both the plant floor and back office functions.

Implemented Microsoft owned NAV 5.0 ERP systems throughout entire organization.

Developed new commission programs for outside sales force.

Nurtured and grew existing and new bank relations.

Worked with state and local economic development groups to secure Closing and CDBG funds for private use.

WESTPOINT HOME – West Point, GA 1980-2007

Director Financial Planning and Analysis (3/2006-4/2007)

Demonstrated a commitment to maximizing profitability and reducing costs during extended tenure with WestPoint Home, a leading textile manufacturer with over $2 billion in annual revenues.

Develop vision and execute strategic financial and operational direction for the organization while providing ongoing business and fiscal analysis for shareholders and the Board of Directors. Define and prioritize objectives. Evaluate future profitability, and provide recommendations based on in-depth analysis and extensive industry knowledge. Work closely with direct reports and executive teams to offer a deep understanding of financial processes, such as manufacturing variances, utilization of fixed cost, contribution, and profitability analysis.

Key Achievements:

Created financial models and advised senior executives on the cost effectiveness of varying offshore configurations to transform organization from domestic to offshore manufacturer to several strategic areas in the Middle East. This effort resulted in the successful closing of a $250 million bank facility.

Partnered with Chief Operating Officer (COO) to model offshore joint venture and subsidiary initiatives, leading to the acquisition of new joint venture in Pakistan and subsidiary in Bahrain. Advised strategic configuration of subsidiary to maximize return on investment (ROI).

Delivered 40% reduction in time needed to complete the annual corporate budget, and established clearly defined goals for measuring manufacturing and sales.

Controller, Sheets and Accessories (2/2004-3/2006)

Managed and directed financial operations for $650 million division with eight distinct manufacturing facilities. Supervised and trained 13 employees in budgeting, cost system management, cost containment, variance reporting, and Sarbanes-Oxley testing. Controlled $135 million in inventory with over 20,000 SKU’s. Assisted in setting price points for Merchandising team.

Key Achievements:

Developed new financial models for various reorganization plans, and effectively managed current resources during extremely challenging two-year Chapter 11 period.

Improved “speed to market” initiatives by introducing new cost quoting procedures.

Enhanced productivity and efficiency by developing online reporting processes for labor and overhead earnings/variances for manufacturing facilities.

Skillfully implemented new costs systems each year for domestic facilities during rationalization.

Controller, Ralph Lauren Home Division (2/2002-2/2004)

Planned and oversaw inventory management procedures for flagship product line with over 5,000 SKUs from domestic and sourced production facilities. Prepared complex forecasts and budgets. Created and managed co-op programs and improved “speed to market” initiatives. Reported to the Senior Vice President of the division.

Key Achievements:

Successfully reduced inventory from $55 million to $30 million, and re-established focus on solving operational issues, increasing return on assets, and eliminating aged inventory issues.

Maintained excellent margins while liquidating aged inventory by introducing new monitoring tools during a time of extreme pricing competition.

Partnered with SVP to negotiate renewal of high-value Ralph Lauren license contract.

Corporate Credit Manager / Director of Claims (3/1995-1/2002)

Spearheaded strategies to address and resolve abusive payment practices for retail accounts valued up to $1.8 billion. Managed all aspects of customer accounts receivable portfolios; enforced terms and collected unauthorized deductions for major customers such as Wal-Mart, Kmart, JCPenney, Sears, Target, Linens N Things, and others. Maintained vital data systems such as customer master, A/R, and other tools for shipping, invoicing, and imaging. Reported directly to the CFO.

Key Achievements:

Reduced DSOs by over 10%, and minimized unauthorized deductions from $15 million to less than $9 million (a decrease of 10,000 disputed invoice deductions).

Saved $1.2 million in first year by collecting on disputing items and reducing write-offs of disputed/uncollectible invoices by 30%.

Significantly cut costs and improved productivity by introducing automated systems in place of manual efforts; reduced staff from 48 to 35 in the first three years.

Prior Experience:

Established groundwork for success by serving in progressively responsible positions for WestPoint Home. Initially hired as Internal Auditor, and advanced to Accountant and Accounting Director of Towel Operations, Director of Accounting for the Consumer Products Division, and Assistant Controller (Towel Operations and Consumer Bed Products, successively).

Education and Affiliations

Bachelor of Science in Accounting Troy University – Troy, AL

Professional Associations

Chairman CHICOR User Software Group

Member Institute of Management Accountants

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