Joseph Mcdermott Email & Phone Number

Media, Pa, Us

South Bend, In, Us

I am extremely pleased to be joining Golden Malted Heartland as their CFO.

Philadelphia, Pa, Us

Chief Financial Officer: Manage a team of 25 responsible for Accounting, Finance and IT functions for a 174-year-old, privately held very large pasta food manufacturer operating 7 plants throughout the country.Selected Achievements:• Hired to replace retiring CFO and help put the business back on profitable footing. • Worked directly with syndicated banking arrangement during highly volatile inflationary environment causing massive spike in raw materials in the marketplace.• Completed pricing updates across the business resulting in a dramatic improvement in business performance.• Established cash flow forecast process in the business to help understand all aspects of working capital, forecasted borrowing needs and proper planning throughout the year.• Built a financial planning and analysis team to help drive forecasting and proper Operating planning and Capital planning throughout business.• Built proper accounting month end close process when structure and formality of that process had never existed. Took closing process from quarterly to monthly frequency. • Developed standard and enhanced financial and operational KPIs to help drive business performance and focus on key performance indicators throughout the business.

Aachen, North Rhine-Westphalia, De

Chief Financial Officer: Manage a team of 15 responsible for Accounting, Finance and Human Resources functions for a 127-year-old, $215m food manufacturer. Selected Achievements:• CFO to a privately held company hired to turn business around from 6+ years of loss making• Drove business from a 2019 Net loss of $12mm to a 2021 projected $1.7mm NI and positive CF. • Restructured product portfolio through SKU rationalization eliminating 15% of company SKUs and exiting poor performing customers and products helping drive $1mm of NI improvement.• Drove operational changes to reduce overtime from a peak of 38% to 15-18%, with future projected to be < 10%, helping drive almost $2.5M in improved Net Income.• Restructured business overheads to drive efficiencies and cut $4mm of unproductive spending.• Negotiated new sales agreements and price increases helping drive $3.5M NI improvement.• Built a new finance team and Human Resources leader including implementing new policies and procedures to improve reporting and reducing regular monthly close from 5+ days to 2.5 days.• Developed standard financial and operational KPIs to help drive operational performance and focus on key performance indicators throughout the business.

Devault, Pennsylvania, Us

Chief Financial Officer and Treasurer role on Board of Directors: Managed a team of 8 responsible for Accounting, Finance, IT and outsourced Human Resources functions for $80m manufacturer of portion controlled packaged burgers, meatballs, steak sandwiches and poultry. Selected Achievements:• CFO and Treasurer for Board of Directors to a privately held company hired to turn business around from 10+ years of loss making• Turned business from $2.6M Net Loss with $3M cash burn to projected $2.7M Net Income and positive cash flow in 2019. • Set business up by cleaning up portfolio and financial state for mid-2020 sale to Beyond Meats.• Restructured product portfolio through SKU rationalization eliminating 30% of company SKUs and exiting poor performing customers and products helping drive $500K of NI improvement.• Drove operational changes to reduce overtime from a peak of 24% to a new normal of 5-7%, helping drive almost $1M in improved Net Income.• Identified $1.5M of cost savings through new contract negotiations, vendor management and consolidation, and targeted overhead reductions.• Negotiated new sales agreements and price increases helping drive $1M NI improvement.• Led company to developing robust financial reporting across all products and lines of businesses as well as establishing standard KPIs and regular monthly board meetings.• Drove NCFO from $3M burn to breakeven, including DSO from 55 to 35 days • Managed ERP upgrade throughout business in 2018

Collegeville, Pa, Us

Chief Financial Officer for fastest growing staffing company on the east coast. Responsible for strategy, finance, accounting, treasury, tax, HR and Risk Management for $120m Private Equity backed staffing firm. Selected Achievements:• Hired in 2014, to build finance organization and turn unit around to prepare business for external sale to Private Equity unit.• Converted company from cash basis to accrual basis accounting including setting up traditional monthly close and review procedures as well as going back and closing company books for 3 previous years by month.• Led company to developing robust financial reporting across all lines of businesses as well as reporting across 17 separate branches and 6 legal entities.• Helped drive company from $62M in Sales and $3.2M EBITDA in 2013, to $110M and $9.1M of EBITDA by 2016. • Drove NCFO from breakeven to over $5M per year, including DSO from 47 to 38 days. • Developed restructuring plans to exit poor contracts and help improve profitability across all LOBs and branches. Improved Gross Margins 325 Bps from 2014 to 2017.• Developed and drove corporate innovation team from finance, risk and customer service teams to improving EBITDA by > 10% or $1M improvement• Managed IT upgrade of network and telephony infrastructure in 2017, improving operations and reducing cost.

Mclean, Virginia, Us

Global Accounting, Finance, IT and Human Resources leader for $50m segment within Mars Petcare.Selected Achievements• Drove unit from a major loss making, cash burning unit to one that has consistently delivered above Plan including greater than $13M or 10% improvement in EBITDA and NCFO from 2008. • Restructured North American route to market including contractual discount structure for key customers and distributors improving EBITDA from break even to in excess of $3M per annum.• Restructured European unit from > $6M in annual earnings and cash losses to +$2M 2013 earnings. • Led finance team to reshape business globally driving gross margins from 34% in 2007 to 44% in 2013.• Led organization to drive down > $13M in nonproductive overhead cost savings since 2008• Led business unit development of long term strategic plan supported by 4 year tactical execution plan.• Drove business to 175% of Plan in first year and 120% in 2011, 110% in 2012 and 104% in 2013. • Managed IT upgrade of network and telephony infrastructure in 2011 including connectivity to Mars corporate systems and network WAN/LAN.

Saint Petersburg, Fl, Us

Launched start up consulting company focused on next generation IP based services including financial consulting, business case preparation and strategic planning going from zero to $2M in sales in first year.Selected Achievements• Chief Financial Officer of startup consulting company responsible for all financial aspects of company including analyzing and evaluating potential investments, acquisitions as they relate to financial objectives. • Responsible for raising > $1.5M of capital through external investments• Helped lead start up consulting business from zero to $2M of annual sales in one year.• Built complete marketing portfolio of services for consulting unit

Basking Ridge, Nj, Us

Responsibilities included financial planning and analysis, budgeting, financial modeling, cost benefit analysis and customer consulting on best practices and financial implications to Verizon’s products and services.

Basking Ridge, Nj, Us

Basking Ridge, Nj, Us

Basking Ridge, Nj, Us

Mba, International Business

Bba, Accounting/Finance