Management Company
Resume:
Christopher L. Turner, CPA
Plano Texas 75024
Summary of Qualifications
Financial Vision Capital Budgeting Team Building
Financial Reporting Systems Selection/Conversion Training/Mentoring
Budgets & Forecasts Process Management Due Diligence
Cost Reduction Dashboards M&A
Financial Analysis ROI Deal Structure
PROFESSIONAL EXPERIENCE
Diagnostic Health Service, Dallas, Texas 1997 – 2012
Chief Executive Officer ( 1999 – 2012)
• Public company experience as both CEO and CFO including IPO, Secondary Offering, Investor Presentation Experience, Subordinated Debt Issuance, Mergers and Acquisitions, Banking and Investor Relations, Crisis Management and Turnarounds.
• Award winning turnaround experience. CEO of TMA Small Business Turnaround of the Year (2001). Featured in MD News, the Turnaround Management Journal, and American Way, the in-flight magazine of American Airlines.
• Emerged as the leader of the company during its most difficult period. Named Chief Executive Officer October 29, 1999.
• Successfully led a public company through Chapter 11 bankruptcy in seven months, filing March 20, 2000, Plan of Reorganization confirmed October 17, 2000, with no stockholder litigation and no SEC matters.
• Added over $1 million in new sales during the first six months following confirmation.
• Increased cash on hand from negative $500,000 to over $4 million, and returned the company to positive cash flow.
• Replaced and rebuilt the management team, including substantially all of the corporate operations and administrative staff, sales team, and over half of the Company's field management.
• Directed operational and financial restructuring plans, as well as strategic initiatives. At the time of promotion, the company was facing shutdown and liquidation. Thanks to dramatically improved financial strength and renewed interest from strategic buyers, the company successfully entered Chapter 11, divested itself of certain strategic assets, restructured its debt and reorganized around a stable and profitable core business.
• Following unsuccessful attempts by previous management to sell the Company, sold its California operations, utilizing proceeds to retire all senior secured debt.
• Closed or downsized unprofitable operations in seven states, reducing the workforce from 438 to 203 ($9.5 million annual savings), as well as reducing overhead expenses by more than $4 million annually.
• Replaced existing leases, upgrading the quality of the company's equipment while achieving cost savings of $1.8 million annually.
• Replaced and reorganized billing and receivable management improving collections and implementing electronic billing.
• Secured exit financing for accounts receivable and equipment.
Chief Financial Officer (1997 – 1999)
Relevant CFO responsibilities prior to, and during the turnaround phase, included the following:
• Responsible for all areas of financial reporting, including analyst relations, SEC filings, regulatory requirements and treasury issues. Departments reporting directly to this position include accounting, financial analysis, tax and audit, and investor relations.
• Following its IPO in 1993, DHS pursued an aggressive "roll up" consolidation strategy to increase market share (26 acquisitions). The acquisition strategy failed for a variety of reasons (changes in reimbursement patterns, decline in the healthcare industry in general and imaging services in particular, and a large failed acquisition prior to joining the company). DHS suffered a severe financial downturn beginning in 1998.
• Financial and accounting management oversight, internal and external reporting including SEC filings and compliance, budgeting and treasury functions.
• Ensures that efficient and accurate financial forecasting and planning systems are in place, directs the preparation of operating budgets and management reports, coordinates the ongoing financial analysis activities of the company's operations, identifying and measuring key metrics for operational success.
• Maintains and expands relationships with investment and commercial banks and institutional investors to support market access in the company's debt and equity sourcing activities.
• Oversees investor relations acting as lead support spokesperson in communicating with the investor community in establishing a reputation for credibility, vision and integrity.
• Coordinates the company's strategic planning process to evaluate growth opportunities through joint ventures, acquisitions and internal expansion.
• Manages tax planning and reporting activities and provides a liaison with regulatory authorities.
• Maintains a system of internal controls and audit procedures including managing the company's relationship with its outside audit firm.
• Responsible for the development and management of the financial organization and professional staff to meet the company's increasing requirements for support in this area.
• Lead financial representative on merger and acquisition projects, managing due diligence, and providing support in negotiations and deal structuring.
Turner & Turner, P.C., Dallas, Texas 1992 –1997
Shareholder
• Founder and shareholder of local CPA firm serving clients in diversified industries, including public and private companies.
• Responsible for all aspects of client service and practice management.
• Primary services included audit and reviews of financial statements, accounting and tax services, business and tax planning, and business valuations.
• Extensive experience with SEC compliance and mergers and acquisitions.
Grant Thornton, Dallas, TX 1990 –1992
Audit Supervisor
• Responsible for all phases of audit planning and execution for extensive client base, including SEC clients and numerous banks.
• Supervised and reviewed the work of staff members.
Various Staff Positions – Public Accounting & Bank Auditing 1985 –1990
EDUCATION & CERTIFICATION
Certified Public Accountant 1986
Master of Accountancy 1984
University of Missouri, Columbia, MO
BSBA, Accounting 1983
Missouri Southern State University, Joplin, MO
PROFESSIONAL MEMBERSHIPS
Member AICPA, TSCPA, FENG, CEO Netweavers
Contact this candidate