Evp - Chief Operating Officer And Chief Financial Officer
Rutherford, Nj
Oversaw all operations/finance functions, including Supply Chain, Technology, Real Estate, Finance and Accounting, Investor Relations, Legal, Controls and Compliance, and Human Resources for publicly held, turnaround infant and juvenile consumer products and furniture company. Collaborated with investment bankers in pursuing strategic alternatives to recapitalize business; sourced strategic buyers of the Company and/or sold assets of individual business units. • Product Cost Reduction & Sourcing Strategy: Slashed annual landed product cost by ~$3.1M through implementing a diverse range of initiatives; minimized reliance on top suppliers through expanding sourcing alternatives/base.• Distribution Consolidation: Consolidated five distribution centers into one 3rd-party logistics provider in CA, effectively driving faster service-to-market at optimized cost and generating ~$2.5M in annual cost savings.• Cost Savings & Reduction: Consolidated Finance, Logistics, Technology, Human Resources, Benefits and Real Estate), resulting in an annual cost savings of ~$4.5M; renegotiated key insurance and benefits arrangements, resulting in an annual cost savings of $250K.• Reporting & Metrics Optimization: Developed/launched ERP system to establish consistent platform for financial/operating reporting; created/implemented operating and financial metrics dashboards to monitor performance and allow early read on “red flags.” • Operations Oversight: Instituted monthly operations reviews focused on inventory management, factory performance, factory social compliance standards, customer issues, distribution center productivity, retailer performance metrics, e-commerce growth, etc. • Financial Management: Governed external SEC reporting, management reporting, investor relations, zero-based budgeting, and forecasting. Instrumental as key partner to lender for managing asset-based loan agreement; negotiated loan amendments and monitored covenant compliance.