RAYMOND J. MCELHANEY

*** **** ***** ● Trafford, PA 15085

Home 412-***-**** ● Cell 412-***-****

acyz2l@r.postjobfree.com

FINANCIAL EXECUTIVE / CHIEF FINANCIAL OFFICER

As a highly accomplished senior financial executive, I have diverse experience in financial, sales and marketing, and operational management for a broad range of companies. I excel at strategic planning, financial reporting, cash flow management and cost controls. I am an exceptional leader with the ability to quickly comprehend the financial complexities of an organization to increase efficiency and maximize enterprise value.

PROFESSIONAL STRENGTHS

Operational Management

Cash Flow Management & Forecasting

Mergers & Acquisitions

Contract Negotiations

Budgeting & Analysis

Strategic Planning

Legal & Contract Management

Global Sales & Marketing

Strategic Partnerships & Alliances

Human Resource Management

Regulatory Compliance

Banking & Investor Relations

PROFESSIONAL EXPERIENCE

R. J. MCELHANEY & ASSOCIATES (Small Business Consultants)

Managing Director (September 2016 – Present)

●Developed a sales and marketing plan for a small retail operation.

●Consulted with company to develop a five-year succession plan.

●Helped management develop a five-year business plan for a small manufacturing company.

CORSA COAL CORP. / PBS COALS INC

Chief Financial Officer / NAPP Division (August 2014 – January 2016)

Appointed Chief Financial Officer after the acquisition of PBS Coal Inc. by Corsa Coal Corp. (CSO), a Canadian publicly traded company majority owned by private equity funds. Responsible for the accounting, finance, legal, IT, and purchasing departments of the Northern Appalachian coal division.

●Integrated and restructured the accounting and finance teams of two separate companies that formed the NAPP Division of the company and implemented a new ERP system.

●Instituted an aggressive cash flow management program to maintain liquidity in a down market.

●Financed over $20 million in equipment with debt and leasing financing.

●Negotiated a new corporate insurance program that reduced annual insurance cost by over 15%.

●Developed a successful asset rationalization program that targeted over $20 million in idle assets including real estate to be sold.

●Streamlined the purchasing and warehouse departments and instituted new purchasing controls that decreased inventory and reduced costs by 8%.

PBS COALS INC. (a division of Severstal Resources)

Vice President Sales & Logistics (January 2011 – August 2014)

In charge of the sales of metallurgical and steam coal to the steel and utility markets in the US and internationally. Responsible for logistics and supply chain management of both domestic and international sales.

●Part of the senior management team that successfully marketed and sold the company to Corsa Coal Corp.

●Negotiated a favorable settlement to a disputed coal sales agreement that generated additional revenue of more than $79 million over the remaining life of contract.

●Developed a coal trading operation that increased revenue by over $60 million annually.

●Identified a market for a coal processing waste stream product that resulted in revenue and cost savings of $9 million annually.

●Negotiated a joint marketing and strategic alliance that enabled the company to improve quality of the product sold and increased sales revenue by over $21 million annually.

●Instituted a quality control and optimization program that resulted in a 5% increase in clean coal production and an increase in revenue of $10 million annually.

ALLEGHENY ENERGY INC.

Senior Fuels Consultant (September 2005 – January 2011)

Procured coal and coal transportation services for this electric utility consisting of 10 coal power stations with an average annual coal consumption of 18.5 million tons and valued at over $1.1 billion. Also responsible for purchasing and trading environmental emission allowances.

●Responsible for coal trading that contributed to the optimization of the company’s coal position and reduced fuel costs by approximately $5 million annually.

●Used effective management to decrease environmental emission allowance costs by over $25 million annually.

●Conducted due diligence on various coal mining operations to evaluate a possible investment or to help in the restructuring of the operations. Successful in restructuring two coal operations with the use of contract modifications and was able to maintain the value of the long-term contracts.

ANKER COAL GROUP INC.

President (November 2004 – September 2005)

Started as mid-level executive and progressed to president in less than 18 months to lead this mid-size coal company with production of 6 million tons and revenue of over $160 million.

●Successfully negotiated and completed a merger with International Coal Group at a price of over 15 times EBITDA.

●Negotiated a long-term coal sales contract for a new mine, which would have resulted in over $100 million gross margin over the life of the mine.

●Developed a detailed long-range strategic business plan, which included the development of over 6 new mining complexes and would take the company to over $600 million in sales in the next six years.

Chief Financial Officer (February 2004 – November 2004)

●Lead member of due diligence team for WL Ross Group that acquired the assets of Horizon Natural Resources out of bankruptcy, which led to the formation of International Coal Group.

●Instrumental in forming Lexington Coal Company, which was formed from the remaining assets of the Horizon Natural Resources bankruptcy.

●Successfully renegotiated long-term coal sales contracts, which protected the gross margin of the contracts at a time of rising cost.

●Restructured accounting and financial reporting systems to improve timing and quality of reports.

●Secured a $20 million credit facility.

Director of Asset Management (June 2003 – January 2004)

●Successfully negotiated new vendor purchase agreements, which resulted in savings of over $2 million annually in supply costs.

●Instituted a new purchase order system, which included consolidation of buying, which reduced inventory and decreased supply costs by over $1.5 million.

CONSULTANT

Financial Management Consultant (April 2002 – May 2003)

●Consulted with a $200 million company as it prepared to file a chapter 11 bankruptcy.

●Reported on existing contracts and made recommendations for changes in bankruptcy.

●Developed and implemented business plan for a small retail operation.

Earlier Positions:

Robert Wholey & Company Inc. (Wholesale & Retail Food Service) – CFO (January 1999 – March 2002)

Canterbury Coal Company (division of Murray Energy Corp) – Vice President of Finance (July 1998 – January 1999)

Canterbury Coal Company (Coal Mining) – President (March 1998 – June 1998)

Canterbury Coal Company (Coal Mining) - Chief Financial Officer/Controller (May 1993 – February 1998)

Reed Smith (Law Firm) - Financial Analyst (April 1992 - May 1993)

Total Service Inc. (Office Equipment & Supply)– Controller (July 1988 – April 1992)

EDUCATION:

Indiana University of Pennsylvania

Bachelor of Science Degree

Major: Accounting

Minor: Management Information Systems

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