Gary Townsend Email & Phone Number

North Olmsted, Ohio, Us

Oversee corporate accounting, accounts payable, accounts receivable, technical accounting and payroll.

Westlake, Ohio, Us

Supervised accounting, finance and treasury functions, including general accounting, cash management, lender relations, lessor relations, all treasury functions, financial planning and analysis, accounts payable, accounts receivable and credit.

Westlake, Ohio, Us

• Supervised all finance and treasury functions, including cash management, lender relations, lessor relations, all treasury functions, financial planning and analysis, accounts receivable and credit.• Partnered with senior executives from operations to improve the company's FP&A functions by enhancing knowledge exchange between operations management and FP&A.

Westlake, Ohio, Us

• Supervisesd the financial reporting (including internal & external reporting), treasury, tax, payroll & FP&A departments. • Led the refinancing of the company's line of credit in 2015, resulting in relaxed covenants and an increase from $100 million to $200 million in the facility's maximum borrowings, with an accordion feature that would allow for a further increase to $300 million based on availability of collateral.

Westlake, Ohio, Us

• Oversaw the company's initial SOX compliance efforts after going public in January 2007. Responsible for internal audit, supervising the completion of over 90 audits of the company’s retail locations each year. Reduced annual audit fee by $50,000 annually by using our internal auditors to complete certain audit work for the external auditors.• Key member of the team that managed the company's spin off as a public company in 2007, and also completed a secondary public offering later that year, completed the acquisition of one of our largest competitors, and put in place an asset-based borrowing facility that was secured by the company's inventory and accounts receivable.

Westlake, Ohio, Us

• Directly supervised the preparation of monthly, quarterly and annual internal and external reports (Form 10-K, Form 10-Q and Form 8-K) summarizing results for senior management, private equity owners, the Board of Directors and external financial statement users. Periodically met with individuals throughout the company to refine and improve reports.• Directly supervised the accounting for complex self-insurance reserves (workers’ compensation, general liability, and medical claims), accounting for income taxes, derivatives, stock-based compensation and asset retirement obligations.• Participated as a key member of company teams that completed various equity and debt offerings, including initial spin-off as a public company in 2007, two subsequent public stock offerings in 2007 and 2011 and three public debt offerings in 2013, 2014 and 2015. Before going public, participated in a $270 million bank refinancing to provide funds for two acquisitions, and a $608 million bank and high-yield bond refinancing to restructure all debt concurrent with the company’s acquisition by a new private equity group.

• Reported directly to the VP-Finance, with responsibility for supervising all activities of the 13-person Corporate Accounting Department, including general accounting, cost accounting, credit and collections, payroll and tax compliance. Supervised the general accounting, receivables, payables, payroll, credit and tax departments.• Assisted the VP-Finance and President in analyzing and evaluating potential acquisition targets, including performing due diligence procedures in-house.• Worked directly with personnel at foreign locations to identify and resolve thin-capitalization, transfer pricing and other tax-related issues, as well as identifying and adjusting foreign non-GAAP accounting practices for consolidation purposes.• Worked directly with personnel at foreign locations to identify and resolve thin-capitalization, transfer pricing and other tax-related issues, as well as identifying and adjusting foreign non-GAAP accounting practices for consolidation purposes.• Streamlined financial reporting by moving tasks previously completed at the corporate office to the accounting departments at the operating facilities, thereby more effectively utilizing existing personnel and reducing time spent on monthly closing by 20 percent.

• Supervised all aspects of the accounting, budgeting, cost accounting, IT systems, legal, human resources, payroll and safety functions, reporting directly to the President and Board of Directors.• Worked with plant personnel to simplify inventory movement and identification, resulting in a 40 percent reduction in rework. Implemented a rewards program that improved direct labor efficiency by 10 percent without increases in scrap or rework.• Refinanced the bank line of credit, resulting in a 50 percent increase in available borrowings, an increase in allowable collateral values, a 0.5 percent interest rate reduction, and LIBOR borrowing options that resulted in further interest rate reductions.• Responsible for the start-up of a second distribution center, including evaluating prospective sites, acquiring the selected site, arranging financing for the transaction, establishing operating procedures and controls, and ongoing cost evaluation after opening.

• Prepared and/or assisted in the preparation and review of financial statements and footnotes, and periodic reports (10-K, 10-Q and 8-K) to be filed with the Securities and Exchange Commission.• Acted as lead senior on public offering and private placement engagements, interacting directly with Securities and Exchange Commission personnel, client legal counsel, CFO, CEO, President, underwriter and underwriter’s legal counsel.• Planned, administered and conducted all aspects of six to eight audit engagements per year, including the supervision and evaluation of five to ten staff personnel per engagement.

Bachelors, Accounting

Bachelor'S, Accounting