Financial Officer Chief
Resume:
KENNETH E. ELMER
Rescue, CA 95672
Mobile: 925-***-****
advarp@r.postjobfree.com
Big 4 CPA with over 30 years experience in public and private companies in the mobile, networking and software space
Managed international and domestic companies of up to $2 billion in revenue
Led several rounds of financing, acquisitions and valuations as well as sales of assets and packaging businesses for sale.
Led several software implementations from Quickbooks, Oracle 11i and Lawson
Government contract, Software revenue SOP 97-2 and Contract accounting SOP 81.1 experience
Experience with various VC’s (Mayfield, Rosewood Capital, Carlyle Group, Norwest, Scale)
Self Employed 2013 – Present
Angel investing, start-up counseling, contract CFO to a handful of companies in the telecom and high tech industries
Simple Mobile, LLC (Irvine, CA) October 2011 to December 2012
CFO/EVP Finance
$500 million in Revenue
Simple Mobile, privately held, has been the fastest growing MVNO in the US adding greater than 2 million subscribers in its first two years of operation.
Joined the company to improve financial accountability and reporting which had not kept pace with the company’s aggressive growth. With improvements readily made we entered discussions with Tracfone which resulted in agreement to sell Simple Mobile. The transaction closed in June 2012.
mBlox, Inc., (Sunnyvale, CA)
Vice President Corporate Controller March 2008 – June 2008
Chief Financial Officer June 2008 – September 2010
$125 million in Revenue
mBlox, venture backed, is the world’s largest mobile transactions network with connections to more than 600 wireless carriers globally, processing greater than 3 billion messages in 2009.
Accomplishments included securing a $25M bank line and enhancement of planning, analysis and cost management which contributed to improved financial performance. This was while reducing the cost of financial administration through consolidation of global accounting tasks and implementation of a new global billing platform. Managed a team of 30.
Tiburon, Inc. (Pleasanton, CA)
Senior Vice President Finance & Administration January 2005 – December 2007
$70 million in Revenue
Tiburon, a software subsidiary of CompuDyne, Inc., is a leading provider of computer aided dispatch and records management software systems to police, fire and emergency medical service agencies throughout the United States.
The role included accounting, finance, contracts management, human resources, facilities and internal information technology services. Accomplishments included aiding the strategic focus of the management team on a product retooling while driving the successful negotiation of two of the largest services contracts in the company’s history. This was during a time of rebuilding the accounting organization, assuring successful compliance with Sarbanes-Oxley (SOX) requirements and the implementation of a new ERP system ( Lawson).
TCSI, Inc. (Alameda, CA) March 2001 - March 2003
$20 million revenue
Chief Executive Officer & Chief Financial Officer October 2001 - March 2003
Chief Financial Officer March 2001 – October 2001
TCSI, a NASDAQ listed company, provided network management solutions to the telecommunications industry with over 300 customer installations globally. In March 2003, the company was acquired by Rocket Software.
As CEO -
Represented the company to analysts and investors while restructuring and redirecting its focus
Downsized company by 50% producing quarterly savings of $2M
Refocused efforts toward existing customer relationships while pursuing an exit strategy.
Results:
Positive earnings in Q12002 representing the first positive quarter in 5 years.
Stock sell to Rocket Software completed in March 2003.
As CFO –
Restructured lease obligations
Implemented a new sales incentive program
Worked closely with the board improving their understanding and participation in strategic direction.
Xpede, Inc. (Oakland, CA) 1999 to March, 2001
Vice President, Finance and Administration
Xpede was a Mayfield backed start-up providing private labeled ASP web-hosting of loan origination systems for large financial institutions. Customers: Citibank, First Union, Cendant and Washington Mutual. Series B financing round completed in early 2000 raising $43 million with a pre-money valuation of $103 million. In March 2001 the assets were sold to Alltel, Inc.
Personal accomplishments included:
Lead the Series B financing round which exceeded its target during a period of market volatility.
Lead many initiatives as the company grew from 30 to 130 employees in its initial 12 months then downsized in 2001 to 45 employees. These responsibilities included finance and accounting responsibilities plus facilities expansion, contract development, recruiting and preparation of monthly board presentations.
Worked with the CEO in negotiating and executing the sell to Alltel.
The MapFactory (Walnut Creek, CA) 1998 - 1999
Vice President, Chief Financial Officer
This start-up specialized in providing geographic information in off-the-shelf, fully integrated, multi-layered products including aerial and satellite imagery combined with digitized topographic maps.
Accomplishments as CFO included:
Development of initial business plan and valuation model enabling management and its angel investor to more clearly understand business and product launch risks and capital requirements.
Lead role in $7 million acquisition of a key subcontractor which included business plan analysis, contract negotiation, due diligence activities and finally business integration.
The Charles Schwab Corporation (San Francisco, CA) 1997 - 1998
Schwab Services for Investment Managers (SIM)
Senior Vice President - Finance and Administration
This fast growth subsidiary provides comprehensive services to more than 5,000 independent investment managers with combined assets under management over $120 billion. This was a new group that was spun off of Schwab Institutional. This strategy was ultimately reversed and the division was reabsorbed back into Schwab Institutional.
Accomplishments included improved strategic planning with a focus on customer segment profitability to drive sales and service initiatives.
Pacific Telesis Group 1987 - 1997
Pacific Bell Mobile Services -now part of AT&T Wireless (Pleasanton, CA) 1993 - 1997
Chief Financial Officer
Subsidiary was formed to develop, construct and service the next generation of digital wireless telephony in California and Nevada. Revenues grew to exceed $100 million upon the initial launch of services.
Personally led the valuation model development and auction team resulting in license acquisition for $700 million. Managed many facets of business development including:
$300 million contract with network equipment vendor.
300K sq. ft. of facilities expansion to support personnel growth from 30 to 1,100.
Installation of Oracle financial system and building of accounting department.
Selection and implementation of billing/customer care system.
Steering committee participation in guiding network development.
Pacific Bell - Los Angeles Business Unit (Pasadena, CA) 1990 - 1993
Business Unit Chief Financial Officer
Unit was the largest of the company’s geographical wireline business units with revenues in excess of $2 billion. Operations included all aspects of service delivery including residential and business sales and service, network operations and maintenance, and plant construction and engineering.
Pactel Paging (Dallas, TX) 1987 - 1990
Vice President Finance and Management Information Systems
Previous positions:
USACafes, L.P., Controller
Gaylord Broadcasting Company, Controller
Austin Industries, Subsidiary Controller
Price Waterhouse, Staff Accountant
Education: University of North Texas, BBA - Accounting Major, graduated magna cum laude
Certified public accountant, inactive.
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