treasury, credit and finance

DAVID J. HARRINGTON

** ******** ******* ****: 781-***-****

Stoneham, MA 02180 Cell: 617-***-****

Email:*************@*******.***

EXECUTIVE SUMMARY

A seasoned, highly motivated financial and operational executive with broad experience in manufacturing, distribution, services, consulting and start-up organizations. Exceptional insight into cash and debt management, budgeting and expense control. Accomplishments in financial and strategic planning, operational improvements, risk management and restructuring. Skilled at assisting teams achieve organizational goals. Focused on the bottom line. International experience.

PROFESSIONAL EXPERIENCE

LSG, INC., Medford, MA 2009 to Present

Principal

- Operate an independent financial and treasury consulting firm specializing in strategic business planning; strategic financing; cash and debt management; budgeting and expense control.

Current Engagement:

Provide CFO of 660 Corporation (wholly owned subsidiary of Boston University) with support for cash management, risk management; budgets, banking and investment analysis and expense control.

SPORTS IMAGES, INC., Woburn, MA 1995-2008

Vice President of Finance, Operations & Treasury

- A wholesaler of trading cards and sports memorabilia, annual sales $55 million.

Directed and managed all financial and operational activities including, accounting, cash and risk management, human resources, purchasing, capital spending, facilities, inventory control and distribution.

· Created and implemented the company’s strategic business plan targeted to focus on providing solutions to short and long term objectives, including acquisitions, joint ventures, expansion plans and human capital needs to support initiatives.

· Negotiated and acquired two companies that increased revenue by 65% with positive cash flow in the first year. Integrated sales and marketing plan reduced expenses.

· Introduced performance benchmarking and pushed accountability to the lowest levels, leading to headcount reductions, commission-structure adjustments and eliminations of inefficient practices.

· Grew revenue from $9 million to $55 million during major market shift in sports memorabilia and collectibles. Developed new revenue opportunities from ecommerce.

· Negotiated new corporate property and casualty, D&O coverage, umbrella package reducing cost by 25% in 2006.

· Increased line of credit by 50% during chaotic economic market in 2008. Managed cash flow and capital requirements.

GEO. E. KEITH COMPANY/WALKOVER SHOE, Bridgewater, MA 1991-1995

Vice President of Operations and Treasurer

- A manufacturer of men’s and women’s footwear, annual sales $12 million. ($8 million own brand and $4 million private label for Cole-Haan, LLBean, Faconnable, Armani, Neiman Marcus, Reebok Golf, Rockport and Brooks Brothers.)

Selected for a “fix now or close” turnaround assignment. Led team that assessed operations, identified immediate and ongoing cost reductions and established financial/operational controls.

· Designed reorganization and turn around plan for this financially troubled company including overall strategy, marketing plan, capitalization and financial projections.

· Negotiated and restructured credit facilities with lien holders and venture firms.

· Altered direction of company through changing of business forecasting system (JIT), reducing finished goods inventory and improving turnover.

· Maximized product line efficiencies to reduce costs via sell through analysis, internal line planning and production capacity.

· Created production plan for internal and external (private label) partners insuring product availability. Managed all private label accounts and customer service department.

THE TIMBERLAND COMPANY, Hampton, NH 1988-1991

Assistant Treasurer

- A manufacturer of footwear, apparel and accessories, annual sales $300 million.

Directed the activities of the treasury function including banking, global cash management, investments, leasing, risk management, credit and collections and foreign currency hedging.

Oversaw $60 million in accounts receivable and purchased $10 million in foreign exchange contracts. Specific accomplishments include:

· Negotiated and increased working capital line from $20 to $60 million with various financing options, lower rates and fees. Negotiated major equipment leases.

· Designed and implemented global cash flow programs with sweep accounts resulting in $300,000 savings of interest.

· Reduced accounts receivable (DSO) ten days by implementing a proactive collection system while sales increased 28% resulting in a doubling of working capital from the prior year. Results were cited in Annual Report.

· Invested short and long term cash with various financial institutions to maximize returns based on forecasts.

· Established and monitored duty drawback program that returned over $200,000 in duty.

CHOMERICS, INC./ W.R GRACE CO., Woburn MA 1980-1987

General Manager – Seriglif Division

Assistant Treasurer

Credit Manager

HONEYWELL INFORMATION SYSTEMS, INC., Needham, MA 1977-1980

Credit and Cash Manager-Incoterm subsidiary

Credit and Collections Specialist

FIRST NATIONAL BANK OF BOSTON, Boston, MA 1974-1977

Senior Credit Analyst – Factoring Division

PROFESSIONAL PROFILE

EDUCATION Cambridge College, Cambridge, MA

Masters in Education (M Ed.) Management

Bentley College, Waltham, MA

Finance- Management

American Institute for Banking, Boston, MA

Cash Management & Banking

OTHER Dun & Bradstreet, Advanced Credit & Financial Analysis

International Cash Management – Bank of Boston

Association of Commodity Exchange – Futures

OTHER PROFESSIONAL ACTIVITIES

Member of the Financial Executives Network Group (FENG)

Founder of Stoneham Youth Sports Organization - Fundraising

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