Kenneth Krause Email & Phone Number

Extensive experience in cost reduction projects.

Independent financial consultant for Durr systems, Inc.on contracts, supplier claims, US and Canadian tax audits, license agreements and joint ventures. Coordinate response to litigation matters; subcontractors claims and manage outside legal expenses. Compensation and Benefit Committee member managing outside ERISA counsel for restatement of 401k and defined benefit plans. Review employment policy updates and benefit plan administration. Commercial Manager on Patent Committee responsible for patent management and enforcement, commercial insurance program and reviewing contract terms and condition with customers, suppliers and subcontractors.

Budgeting, forecasting and financial performance analysis for $250 million paint finishing division. Senior financial officer with the responsibility for financial results of projects, division, cash flow and operations; reporting to US Division Vice President and German CFO. Projects were as large as $250 million with duration of 2-3 years, revenue recognized on percentage of completion construction accounting (US GAAP and IFRS). Reduced operational expenses of division from 2005 to 2007 by 55% through expense reductions and introducing operational efficiencies. Helped to develop diversification strategy to lessen dependence on Detroit 3 auto makers and create new Service group that within 2 years recorded $20 million in sales with a 17% gross profit.

High performance, results driven chief financial officer for US division of German paint application and environmental service company with strong leadership skills and technical expertise in finance and operational management. Successfully turned around 2 loss divisions; returning to profitability within 2 years through reducing operational expenses by greater than 50%. Strong communication skills and diversified background in all areas of finance and operations management. Led site selection and managed overall construction budgets for multi-million dollar expansions and new facilities in Plymouth, Wixom and Auburn Hills. Negotiated property tax abatements and obtained educational grant funding.Responsible for Finance and Administration which included human resources, information systems, treasury, income taxes, litigation, mergers and mergers and acquisitions. Introduced self insured group health benefits with flexible spending accounts and high deductible plans reducing health benefit costs by over 40%. Negotiated bank lines of credit and USA based cash management systems reducing finance costs by over 25%. Led financial intervention with suppliers and subcontractors in financial distress;minimizing risk to project schedules and financial outcome of long term construction contracts.Managed subcontractor claim settlement negotiations with external and internal legal counsel; minimizing legal fees and court costs. Financial representative in alternative dispute resolution (medication and arbitration) proceedings.

Corporate treasurer responsible for cash management, human resources and payroll, employee benefit plans, information systems, corporate insurance, litigation support and corporate accounting department.

Manage accounting department and prepare monthly and annual division financial statements. Responsible for business insurance program and managing external audit resulting in 40% reduction in annual audit expense.