Operations Support Project Management

R. Michael (Mike) Pennoni, MBA

Grandville, MI ***18 239-***-**** **********@*****.*** LinkedIn/MPennoni Executive-level professional with vast experience in all aspects of Finance and Accounting. Fast-paced, results- oriented, hands-on individual who works to develop staff and colleagues. Focused on cost reduction, process improvement, and operations support. Extensive experience in developing and maintaining standard costs

(labor, material, overhead). Well-developed leadership qualities used in the implementation of new systems and processes to improve overall efficiencies and financial performance. Action-oriented and results-driven with a partnership approach working together with executive leaders. Financial Modeling Significant SOX Compliance JDE

Budgeting/Forecasting SAP KPI Dashboard

M&A Government DCAA/FAR/CA Oracle VAVE

Financial Planning, Analysis &

Reporting

Project Management/Systems

Implementation

Process Development &

Improvement

PROFESSIONAL EXPERIENCE

Techniplas

North American Controller, Grandville, MI Feb 2023 – Present

● Report to the CFO with financial accountability of 7 domestic manufacturing plants, including direct leadership of the 7 Plant Controllers.

● Tasked with developing and improving consistent financial reporting across the footprint.

● Working to drive the overall approach to leverage the Financial team members to act as partners to the operations leaders in order to drive action that directly affect results.

● Lead continuous improvement initiatives driven by KPI and metrics. Industrial Magnetics, Inc.

(Magnetic assembly manufacturing)

Director of Finance, Boyne City, MI 2019 – Feb 2023

● Managed all Finance and Accounting for a $70M PE-owned manufacturing group.

● Cash management to ensure compliance with lender covenants.

● Demonstrated strengths in driving cost control/reduction on an operational level.

● Key member in all company acquisition initiatives.

● Generated and reported all financial KPIs and performance for three companies in the group.

● Worked directly with all functional areas to drive operational improvements and improve cash flow.

● Led senior management in all financial-related initiatives, projects, expenditures, etc.

● Worked directly with suppliers to reduce costs and improve margins.

● Led Operating Plan, Budget, Forecasting, and Monthly Performance reporting.

● Point of Contact with both Internal and External Auditors. Magna Seating

(Tier 1 to OEM)

Division Controller, Spring Hill, TN 2017 – 2019

● Managed all Financial and Accounting functions for Tier 1 supplier to the Automotive OEMs ($350M sales).

● Member of Plant Operations Leadership Team, driving strategic initiatives for present operations and future business opportunities.

● Developed, instituted, and oversaw all Policies and Procedures to ensure compliance with all regulations (SOX).

● Led CO/FI SAP implementation for Spring Hill facility.

● Led all Finance in Five Year Operating Plan, Budget, Forecast, Monthly Performance, and presentation to Senior Management.

Decorative Panels International

(Interior furnishing to home remodeling)

Plant Controller/Asst Operations Mgr, Alpena, MI 2014 – 2017

● Performed M&A activities for $15M acquisition of a wood pulp company (due diligence, EBITDA, A/R aging, quality of sales, pro-forma financials, cost reduction synergies, etc.).

● Worked with Private Equity in the acquisition and divestiture of assets (cash flow, EBITDA, forward projections).

● Led the on-schedule and under-budget installation of $4M boiler conversion project.

● Reduced operating budget by 10% to meet the objective of increasing operating profit by 2 basis points.

● Developed staff for increased workload and complexity with the growth of the company.

● Implemented an inventory pull system and product supermarkets to reduce total inventory by 18% year-over-year.

AAR Mobility Systems

(manufacturing to government DOD)

Business Unit Controller, Cadillac, MI 2010 – 2014

● Key Operations Finance and Accounting support for the General Manager in a $300M business unit (3 locations; MI, NC, AL).

● Ensured DCAA compliance for cost classification and revenue recognition.

● Maintained documents and procedures to support certified costing rates per SOX, FAR, and CAS.

● Standardization of Financial Reporting systems (JDE) and formats across all facilities.

● Supported sales and business development in preparing bids, quotes, and contracts.

● Extensive work with both internal and external auditors, including DCAA.

● Established a reporting system to track Profitability Margins by Customer and Product. First Home Builders

(single-family homebuilder)

Manager Cost Analysis/Operations Support, Cape Coral, FL 2004 – 2010

● Led the organization in the use of Lean manufacturing techniques in the home-building process.

● Performed M&A activities for $10M acquisition of a building supply company (due diligence, EBITDA, A/R aging, quality of sales, pro-forma financials, cost reduction synergies, etc.).

● Prepared necessary financial information for auditors and creditors for acquisitions.

● Developed models to track, measure, and follow-up cost reduction initiatives.

● Developed staff for increased workload and complexity due to company growth. Ford Motor Company

(automotive OEM)

Asst Controller/Mgr Internal Audit/Mgr Financial Analysis, Dearborn, MI 1998 – 2004

● Extensive “on floor” experience within Powertrain and Vehicle Interior operations.

● Increased cost and analysis responsibilities through multiple assignments at both operations and staff locations.

● Consistently exceeded task of 5-10% year-over-year cost reductions without the loss of product integrity.

● Conducted and led VA/VE and cost management workshops with suppliers to control and reduce costs.

EDUCATION

● Master of Business Administration: Finance, Wayne State University

● Bachelor of Arts: Accounting (with high honors), Michigan State University

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