Tom McKernan CPA

CFO, Finance Director, Controller, Director of Accounting

acy1m3@r.postjobfree.com - 713-***-****

Proven track record of driving actions that increase profitability and generate growth. Enthusiastic, innovative and transformational team leader that consistently meets targets and leads broad financial initiatives with the highest integrity. Strong communicator with the ability to positively interface with customers, lenders, vendors, industry groups, and within all levels of the organization.

EMPLOYMENT HISTORY

VP and Chief Financial Officer

Palapadise LLC, Houston TX 2016-2017

Privately-held contractor servicing commercial and high end residential customers. Contract position to generate and implement a comprehensive business plan with supporting business processes and appropriate tools.

•Introduced iPad based bidding tool that has reduced sales cycle by 7 days

•Identified and reduced scrap by 50%

•Sold the largest project in the company’s history

•Reduced cost of insurance and cost of capital

Director of Sales and Service – Transit Mixer Division

Putzmeister America, Inc., Houston TX 2014- 2016

Global German manufacturer of Concrete Pumps, and related equipment. Full Profit and Loss responsibility for the Concrete Mixer Division. Dual report to the President of the Americas and the Group CFO. Responsibilities included Houston Sales and Service Center, Plant Controller (Mexico) and three outside salesmen.

•Opened and staffed Houston Sales and Service Center below budget

•Decreased labor cost by $2,000 per unit by shifting production to Monterrey Mexico

•Personally secured and maintained key customer accounts

•Achieved over 100% year over year increase in sales in consecutive years

Controller and Chief Accounting Officer

General Plastics and Composites, Houston TX 2013-2014

World class manufacturer of engineered components and turnkey products including composites, elastomers and/or metal for oilfield service companies worldwide. Reporting to the President, I was responsible for Financial Statements, FP&A, External Audit, Treasury, Risk Management, Payroll, AP, AR, FA and collections.

•Introduced inventory control processes that enabled accurate lot control, doubled inventory turns and reduced lead times by 20%

•Moved to electronic filings eliminating virtually all paper records

•Generated automated metric tracking which improved On Time Delivery by 30%

•Reduced DSO generating an additional $3 million in cash flow

Director of Accounting

ABM Industries, Inc. Houston,TX 2012-2013

NYSE Listed, Fortune 500. I was responsible for the accounting, financial analysis, consolidation and financial reporting for the engineering and construction division, a $1.0 billion division of a $4 billion fortune 500 company.

•Reduced division’s monthly close cycle by two days

•Eliminated 99% of prior year’s SOX exceptions

•Automated SEC reporting, eliminating 120 manhours per quarter

•Assimilated $400 million in acquisitions without staff additions.

Navistar, Inc. – Houston, TX 1994–2011

VP of Finance& IT for Navistar – Continental Mixers (2009-11)

Directed a combined organization of Accounting, Financial Planning, IT, and Asset Management for the recently acquired Continental Mfg. subsidiary, a manufacturer/distributor of truck mounted construction equipment and related service parts for this SEC listed fortune 200 manufacturer and distributor of heavy trucks.

•Successfully integrated all administrative functions at Continental with Navistar resulting in a $3M cost savings to the combined entity.

•Consolidated IT resources with Navistar and selected external partners to reduce in-house cost by 50%.

•Led the initiative to merge the 401K assets from the Continental Plan into the Navistar 401K Plan resulting in $200K in annual administrative savings.

•Designed and implemented a standardized set of business metrics which reduced, month over month per unit man-hours, accident frequency rates, and substantially improved profitability.

•Successfully managed tax audits from 7 states and 3 departments from within the IRS.

•Managed the preparation and recording of all purchase accounting adjustments relating to the Navistar and Continental Stock Purchase Agreement including the identification of $25M worth of intangibles

•Created a SOX Control Environment and SEC reporting format

Executive Vice President (2002 - 2009) moved to Navistar thru acquisition

Accountable for Manufacturing Plant Operations, Sales, Financials and all Administrative functions. Served as Chief Financial Officer of Continental while managing 12 direct reports for this $50 million dollar privately held organization that was acquired by Navistar.

•Facilitated customer-centric and metric-driven culture by improving collaboration between commercial and operations teams, eliminating waste, creating accurate sales reporting tools, and implementing enhanced pricing practices resulting in an improved standard margin of 15%

•Personally secured and maintained key customer accounts generating increased sales and profits

•Transformed the lowest performing sales region into the highest producing region within two years.

•Initiated the implementation of an injury free culture which reduced accident incident rate by 90% (YOY)

•Established a finance subsidiary which accounted for $2.5M in additional pre-tax profits per year

•Negotiated a Joint Venture agreement which allowed the company to expand its reach to the west coast without additional capital outlay

•Lead company spokesperson to the industry, banks, insurance companies, bonding organizations, and regulatory agencies related to corporate financials and marketing programs

•Chaired two industry associations bringing additional creditability and positive publicity to Continental.

•Directed the solicitation of potential investors and/or buyers resulting in the successful sale of the Continental to Navistar

•Led the due diligence and participated in the development of the stock sale agreement of Continental by Navistar on extremely favorable terms.

Chief Financial Officer (1994 - 2001) promoted to EVP and CFO

Responsible for all External Reporting, Financial Planning & Analysis, IT, Treasury, and Procurement. Directly accountable to the Ownership Board. I was recruited to stabilize and grow the organization.

•Facilitated the development of a company vision and strategic business plan to set the stage for 7 consecutive years of growth resulting in a 12X increase in sales within a mature industry.

•Secured financing and re-negotiated credit agreements reducing interest rates by 200 basis points and administrative costs by 25%. Cultivated productive relationships with customers, banks, creditors, auditors, regulators, and key vendors

•Directed the selection and implementation of an Enterprise Resource Planning (ERP) solution that replaced independent systems resulting in annual savings of $500K while dramatically improving the information flow between departments.

•Created new procurement procedures and controls that generated a 10% across the board cost savings.

•Reorganized the business structure to achieve a $300K savings in TX Franchise Tax

•Created targeted sales campaigns, implemented prospecting and lead campaigns, and developed incentive programs and compensation plans for sales team

•Implemented recording procedures for R&D tax credits that led to US Tax savings of $2.5M.

•Cut personal property taxes in half by filing Freeport Exemptions in 11 taxing jurisdictions

•Directed the development of a set of financial policies and employee & safety manuals to provide financial controls, consistent standards, and compliant practices across the organization

VP Finance and Administration, Group Controller, Senior Accountant

CEMEX USA and Lone Star Industries, Dallas, Seattle, Houston 1985-1992

Positions of increasing responsibility and authority for these Global manufacturers and distributors of Construction Materials, including Cement, Aggregates and Ready-Mix Concrete.

Financial Analyst, Accountant

Brown and Root, Inc. Houston, TX 1982-1985

Global Engineering and Construction concern with an excellent new grad training program

EDUCATION

MBA, completed 18 hours at City University with 3.90 GPA, Bellevue, WA

BBA, with a concentration in Accounting, Texas State University, San Marcos, TX

PROFESSIONAL ASSOCIATIONS

Texas Certified Public Accountant - #37349

Member, Financial Executives International

Member, American Institute of CPAs

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