Fp A Chief Financial

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David Simon Burbank, CA, US

*****.************@*****.***

linkedin.com/in/david-simon-30184aa/

Chief Financial/Operating Officer

Accomplished financial executive and corporate strategist with extensive experience building and motivating teams, providing data-driven guidance to support business objectives within fast-paced environments. Proven success directing and streamlining end-to-end finance/accounting functions, including controllership, planning & analysis, compliance, mergers & acquisition, systems integration, and auditing through exemplary development and leadership of the finance team. Credible history of identifying areas for improvement in existing processes, developing effective business solutions to ensure achievement of set milestones and capacity for growth. Successful ERP system implementations including SAP, NetSuite, and Sage for automating reporting procedures. Stellar track record steering annual budget/forecast processes. Integral contributor to business growth with demonstrated expertise creating cash-flow forecasts and scenario-based financial models, enabling informed decision- making for companies up to $660 million in revenue and $36 million in EBITDA. Skilled in cost reduction, margin improvement, and expense containment.

Areas of Expertise

• Financial Planning & Reporting

• Budget Control & Cashflow Forecasting

• Business Case Development

• Corporate Finance Management

• Enterprise Risk Management

• Compliance Management

• Policies/Procedures Improvement

• People Development/Leadership

• Stakeholder Engagement

Career Experience

Senior Consultant – Simon Business Consulting, Los Angeles, CA 2012 – present Acts as a trusted advisor and subject matter expert, providing guidance and direction to companies in the areas of corporate finance and accounting. Engaged in interim executive roles to establish solid leadership and implement formal policies, procedures, and best practices. Extended travel both domestic and international to provide personal leadership in critical events, turnarounds, fund raising. Bedrock Manufacturing – Financial strategic and process consultant to CEO for two portfolio companies in turnaround. Meetings with Board of Directors and Investors, successfully raising $15 million new capital. Review of accounting structure and personnel across three entities. Travel to Seattle and Detroit headquarters. Supervise external audits for investor and lender required financial statements. Intensive cash management and cash flow reporting during and after fund raising. Millionaire Media LLC – Business Process development and implementation for online learning platform and content provider. Forensic audit of financial records and multi-entity reconciliations. Review ecommerce data flow including affiliates, multiple gateways, banks and payment platforms. Design Standard Operating Procedures and workflows, streamline transactional input. Reconstructing statements and reporting records.

B&R Auto Wrecking – Consulting CFO advising and implementing financial integration of multistate auto salvage and parts distributor recently acquired by Highpoint Capital. Producing ASC 842 calculations and postings for all existing and new commercial leases. Due diligence and Sale-Leaseback accounting for ongoing M+A. Create Business Intelligence platform integrating legacy and new ERP systems to create consolidated financials for CEO and ownership, Board reporting. Naked Wolfe Ltd – Consulting CFO and technical advisor for rapidly growing vertical operation comprising global manufacturing, wholesale, retail, and ecommerce brand. Lead restructuring of corporate finance; execute global integration of industry specific RLM ERP system by Atean to include finance along with production. Create end-to-end business process Standard Operating Procedures. Recruit, interview, and train new finance team members in multiple countries. Conduct physical inventory audits on three continents. Advise on retail expansion planning. Antero Brands - interim CFO. Lead restructuring of e-commerce and retail companies in athletic shoes for private equity group Critical Point Capital. Forensic accounting project utilizing SAP system to audit financial records and prepare board decks. Planet Blue - interim CFO. Negotiated with trade creditors, banking and factoring partners, as well as legal advisor for apparel vertical backed by Breakwater Investment Management. Directed final disposition of receivership and liquidation of struggling brick and mortar retail operations, preserving online business for directional growth. Preparation for migration of system data to new SAP Business platform.

Crew Knitwear – interim SVP Finance/Operations. Provided leadership during SVP sabbatical, maintaining relationships with lending institutions and the Board of Directors. Developed combined financial statements into a unified Budget vs Actual program, restoring compliance with borrowing covenants. Built new model for revenue recognition of products licensed to third-party marketing partners. Created standardized procedures for product costing enabling expanded production with increased margin. Managed external audits, including government and lender required financial statement audits. Closet Factory Franchise Corp – SVP Finance & Admin. Launched a universal project management and scheduling system to integrate with CRM systems at all sites. Introduced screen-to-machine design-build software to unify workflow from designers and engineers through to machine operators. Led renovations to physical plants, upgrading equipment and capacity. Delivered a 35% improvement in productivity and a 75% reduction in return visits to repair completed projects. Improved revenue from established retail partners from $35 million to $49 million. Managed external audits for local and state government compliance. Extensive activity in building materials industry.

Halston Heritage – CFO and Corp Controller. Revised retail and wholesale reserve allowances across all divisions and established preliminary financial reporting system to provide immediate, accurate review at month-end. Direct integration of licensing into financial strategy to maximize return on intellectual property assets. Performed and reconciled physical inventory across 60 retail locations and five domestic and international warehouses. Create and standardize work process for transfer of data between platforms including SAP PLC, RLM, MS Dynamics POS, and five unique WMS formats at multiple 3PLs. Managed external audits, including government and lender required financial statement audits. Chief Financial/Operating Officer – Hybrid Apparel, Cypress, CA 2022 Directs planning and execution of integrated end-to-end business processes across all functional departments. Leads team leaders in identifying communication gaps among departments and systems, driving change management. Creates and presents business and financial results to directors and principals at Altamont Capital Partners alongside the CEO. Maintains compliance with all ABL lending facility covenants while charting and navigating a path through critical cash flow constraints, negotiating capital reserves, and leveraging company assets and vendor relationships. Protects company assets in multiple owned and third-party facilities by mandating physical inventory counts and verification.

● Performed as financial leader of the world's leading designer, manufacturer, and distributor of licensed property apparel, generating $660 million in annual revenue.

● Led push for repatriation of $12 million in owned inventory held by third-party 3PLs and contractors, enhancing the visibility of ATS and Blanks stock and increasing ABL availability by $9.5 million.

● Developed enticing credit application package to support increased lines and improved terms, thereby boosting production capacity by $20M.

● Directed the integration of E2E business processes and systems, enabling seamless processing of goods and information across the enterprise.

● Decreased labor and shipping expenses associated with distribution delays from 6.4% to 4.2% of sales.

● Increased delivery performance, restoring customer confidence and decreasing compliance violation chargebacks by $6.5 million in EBITDA.

● Oversaw reduction of vendor terms suppression from $20 million to $15 million by the end of Q3 2022, bringing all accounts within terms.

● Steered efforts in right-sizing of inventory, identification of aged and slow-turning merchandise, and reduction of stock levels from $113 million to $76 million, equal to 33 %, in six months through physical counts, accelerated shipping, and liquidation sales to discount partners and consumers.

● Lead role in evaluating acquisitions, drafting purchase agreements, negotiating purchase prices, due diligence.

● Managed external audits, including government and lender required financial statement audits. Chief Financial/Operations Officer – Fallas Stores, Gardena, CA 2021 Collaborated with new financing partners, restructuring debt and rebuilding relationships with vendors and service providers. Directed development of operating procedures and integration across all business entities.

● Delivered accurate guidance on the turnaround of sales base from $73 million to $146 million in single year.

● Boosted overall performance by rebuilding and directing corporate team from the ground up, hiring top-performing staff for Finance, IT, and HR.

● Directed strategy and planning for restructuring prominent discount retailer in Southwestern US, including 70 stores in 6 states plus Puerto Rico.

● Increased historical and current performance across the retail network, identifying locations with potential for growth as well as those earmarked for consolidation.

● Managed external lender required financial statement audit. Chief Financial Officer – Blue Medi Spa, Sherman Oaks, CA 2020 – present (fractional) Built professional academy to provide new practitioners with industry-specific training and a vision for the future in order to address the talent shortage in this high-touch industry. Developed new product lines for in-store and online retail, including in the scope of authority as well as planned analysis of human resources and finances. Rebuilt the provider network and sought partners to participate in the recruitment and training of high-performing providers.

● Increased sales by double digits through guided recovery from Covid-19 related closures. Acquired CARES ACT financing including maximum PPP and EIDL facilities through SBA and primary banking partners. Engaged CPEO partner in ERTC processing for retroactive and ongoing assistance.

● increased Net Income from 11% to 27% by evaluating the effectiveness of loss-leading procedures, optimizing productivity by and reducing personnel turnover.

● Presented proforma profitability plans for 2, 5, and 10-year expansions, communicating with diverse investor groups. Examined bids for a $10 million working capital fund and a $20 million capital expenditures program.

● Served as leader in rollout planning for expansion of highly profitable Aesthetic Medical Spa from a single location to 10 locations throughout Southern California, including Beverly Hills, Pasadena, San Diego, and Newport Beach. Chief Financial/Operations Officer – Rainbow West Apparel, Los Angeles, CA 2018– 2020 Oversaw vision, strategy, and execution for all facets of corporate finance for wholesale distributor of women's, children's, and infant's clothing, with an expanded scope of authority that included HR, contract administration, vendor negotiation, operations, and labor relations. Developed program of rigorous costing protocols, identifying all bill of materials variables and modeling for maximum contribution across product lines.

● Successfully managing succession of principals by establishing a team of top performers with expertise in legal and tax planning; outstanding results included avoidance of $2.4 million in estate taxes. Defined parameters for corporate valuation generating $1.4 million in savings.

● Recruited new Director of Production & Sourcing, serving as foundation for 70% increase in production capacity and expansion into additional product categories to meet market and customer needs.

● Successfully reduced the impact of tariff increases by negotiating prices with international vendors, positioning the company to capture $1.5 million in savings in Q1 2020 and achieve profitable margin for the year.

● Directed restructuring of company’s retirement plan, shifting focus from defined benefits to Profit-Sharing model. Managed recording and reporting of the Employee Stock Ownership Program. Additional Experience

Business Manager/Controller – RIBENKS CORP./BROOKS FABRICS, LOS ANGELES, CA Founder/President – GUILDFORD HALL REAL ESTATE DEVELOPMENT, BOSTON, MA Education

Bachelor of Science Degree in Business Administration Brandeis University, Waltham, MA Graduate Studies in Accounting & Finance Bentley College, Waltham, MA Post Graduate Studies in Financial Planning & Analysis Harvard University, Cambridge, MA Enterprise Forum Panel Judge Massachusetts Institute of Technology, Sloan Business School, Cambridge, MA

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