An accomplished senior executive, offering 26 years financial and operating management experience guiding organizations through rapid change, growth, cost rationalization and improved profitability. Results-driven leader with proven ability to blend professional and entrepreneurial oriented management and culture. Demonstrated ability to build and lead collaborative teams through complex strategic and operating initiatives to support corporate vision and performance goals across multiple industries and organizations.
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Corporate Vice President, Clinical Trial Supplies & LogisticsParexel 2011 - 2014Waltham, Massachusetts, United StatesWorldwide Head of Strategic Business Unit (SBU) responsible for charting the businesses strategic direction, driving topline growth, operational execution and ensuring financial performance objectives were achieved (full P&L responsibility).• Profitably grew revenue from $17M to $60M+ over 3 year period.• Annual new business authorizations grew from $30M to $120M+.• Restructured senior management team and reorganized global operations to enable scaling of business and better align with client delivery expectations as well as overall study execution.• Recruited senior level talent to fill key leadership roles in sales, project management, global trade compliance and depot operations.• Expanded clinical supply distribution capabilities by building out and opening new, larger distribution/warehouse facilities and drug depots in the US, Europe, LA and Asia. -
Corporate Vice President, Crs Business Operations & Clinical Logistics ServicesParexel 2009 - 2011Waltham, Massachusetts, United StatesFunctional head of the Proposals & Contracting group for the Clinical Research Services SBU (PAREXEL’s largest SBU with annual revenues of $1.0B) and served as the Clinical Logistics business CFO.• Implemented proposal & contracting process improvements which shortened turnaround times, improved deliverable quality and increased business development group and sponsor satisfaction. Annual proposal volume of $5.5B+.• Provided oversight of numerous system/application enhancements to better align study scope and pricing with project execution.• Recruited, developed and promoted staff to support business growth and address increasingly complex strategic partnerships and preferred provider sponsor relationships.• Instilled financial discipline within the Clinical Logistics business- improving the turnaround time and accuracy of forecasts, attainment of annual budget and quality of earnings reported. -
Corporate Vice President, Crs Operations Finance & Cfo Perceptive InformaticsParexel 2006 - 2009Waltham, Massachusetts, United StatesServed dual roles as the principal Financial Officer for PAREXEL’s largest SBU (CRS with annual revenues of $800M) and Perceptive Informatics with annual revenues of $125M. Responsible for financial management strategy, long range planning, budgeting, forecasting, capital investment, revenue recognition, expense control, KPI development, financial policies & procedures and SOX compliance.• Led SBU financial integration for 3 acquisitions with a combined deal value of $300M.• Helped drive doubling of CRS annual revenue to $800M and expanded margins by 170bps over a 3- year period.• Led transition to proportional performance-output based units for revenue recognition from input based (ie., cost based percentage of complete, time & material).• SBU point person supporting corporate roll-out of Oracle 12i, Hyperion, TIME, Ariba T&E, and other enterprise applications.• Improved overall control environment and business decision-making discipline through standardization of financial processes, introduction of KPIs, more comprehensive policies & procedures and reduction in manual processes/activities.• Doubled the size of Ops Finance team to support business growth. -
Corporate Vice President, Cfo- Perceptive InformaticsParexel 2001 - 2006Waltham, Massachusetts, United StatesServed as Chief Financial Officer and integral member of the SBU senior management team. Responsible for financial management strategy, long range planning, budgeting, forecasting, capital investment, revenue recognition, expense control, KPI development, financial policies & procedures and SOX compliance.• Led development of financial strategy to support overall SBU business strategy and corporate performance goals. 5-year revenue CAGR of 36%.• Successfully completed 2 acquisitions. Led business valuation analysis, due diligence and post deal financial integration.• Developed business case to leverage lower cost locations to support increasing R&D investment in sponsor facing software applications resulting in $500k in annual savings.• Enhanced project/study level financial reporting, analysis and support resulting in improved project management decision making and profitability.• Built and developed the SBU Operations Finance team. Strengthened cross-SBU and corporate finance relationships/trust, knowledge and capabilities.• Redesigned the annual budget and monthly forecasting process resulting in more timely, insightful and reliable information to SBU and Corporate management.• Improved the overall control environment, raised the quality of earnings reported and instilled a fact based, business decision-making discipline within the SBU. -
Financial Advisor & ConsultantSelf-Employed 1999 - 2001Financial Advisor- Medical Profiles, Inc.Assisted management team in negotiating and executing a leveraged buyout of Bio-Life System’s medical products business. Provided financial modeling, due diligence, transaction structuring and valuation services to assess the viability, fairness and economic returns of transaction.Interim Chief Financial Officer- Argent Healthcare Financial Services, Inc.Provided financial leadership and facilitated the reengineering of the financial infrastructure of this high growth consolidator of outsourced receivable management services.Financial Advisor- NextEra Therapeutics, Inc.Advised management and investors seeking to raise $2.5 million in capital for a biopharmaceutical firm focused on the discovery and development of various therapeutic products utilizing C-Reactive Protein.
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Vice President FinancePrimecare International, Inc. 1996 - 1998PRIMECARE INTERNATIONAL INC. (Acquired by Phycor, Inc. 1998), 1996 - 1998A $300 million, privately held healthcare management services company with 1750 employees and 35 satellite locations throughout Southern California, New York, Florida, Oklahoma and Illinois.Key member of the senior management team. Responsible for the capital structuring, merger & acquisition, budgeting, strategic & operating plan development, treasury operations and risk management activities of a high growth, privately held company.• Key player in the preparation of offering memorandum and negotiations with investment bankers, corporate buyer, lawyers, commercial lenders and accountants involving the successful sale of the company for $210 million, a 65% premium to underlying stock value. • Led or co-led various elements of a $105 million corporate recapitalization, completing a $30 million equity issuance and securing a $75 million credit facility syndicated among eight financial institutions. • Successfully re-negotiated a $27 million real property lease as part of larger recapitalization effort, resulting in $250,000 in annual cost savings and added financial flexibility to further support the company’s strategic objectives.• Played a key role in the development and implementation of financial and operational strategies that, over a 15-month period, resulted in a corporate reorganization, completion of 3 acquisitions and the divestiture of unprofitable and non-strategic businesses, leading to a $20 million improvement in annual operating profit and significantly enhanced cash flow. • Developed from scratch and implemented the company’s first ever annual operating plan which significantly improved line management’s decision making and focused efforts on achieving individual business unit operating objectives resulting in revenue expansion, lower costs and higher operating profit. • Key contact and relationship builder with financial institutions.
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Director, Finance- Physician Services DivisionCaremark International, Inc. 1994 - 1996CAREMARK INTERNATIONAL INC. (Acquired by MedPartners, Inc. 1996) , 1994 - 1996A rapidly growing $2.5 billion public healthcare company leading the development of physician management services, prescription drug benefit management, and disease management services worldwide.Directed the financial activities of a high growth Physician Practice Management business generating $1.0 billion in annual revenues with 10,000+ employees and 100 satellite locations.• Controllership responsibility for all monthly, quarterly and annual accounting closes, consolidation, short-term forecasting, annual budgeting, long-range planning and annual tax reporting for 30 corporate entities.• Provided leadership and built from scratch a strong, well organized, and efficient division accounting/finance organization staffed with highly skilled, competent, and motivated professionals to support corporate growth objectives. • Developed sophisticated operational and financial valuation models, engineered creative financial structures, co-led the due diligence process, and assisted in the negotiation of transaction structures for large-scale acquisitions fueling the division’s 92.5% three-year compounded annual growth rate. • Over an 18-month period, led the successful financial integration of seven acquired businesses with combined revenues in excess of $710 million. Implemented common financial platforms/accounting systems, policies, procedures, and controls. • Directed the analysis of existing business “add-on” acquisitions that resulted in closing 20 transactions over a 21-month period, adding $20 million in annual revenues and $1 million in annual operating profit. • Co-developed and implemented a division cost reduction plan which cut overhead spending 10% and increased operating profits $1 million through realignment of management to more clearly define responsibilities, eliminate redundancies, and streamline procedures.
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Senior Account ExecutiveWhirlpool Financial Corporation 1991 - 1994
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Manager, Audit & Due DiligenceWhirlpool Financial Corporation 1990 - 1991
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Manager Field Examinations & Secured Lending OperationsChase Manhattan Bank, N.A. 1988 - 1990
Kurt Norris Education Details
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Master Of Business Administration (M.B.A.) -
Cfa/Wharton Institute Of Secured Lending -
Winona State UniversityFinance
Frequently Asked Questions about Kurt Norris
What is Kurt Norris's role at the current company?
Kurt Norris's current role is Strategic Minded, Operationally Oriented Financial Executive experienced in Pharmaceutical Services, CRO, Technology & Healthcare Industries.
What schools did Kurt Norris attend?
Kurt Norris attended Northwestern University - Kellogg School Of Management, University Of Pennsylvania - The Wharton School, Winona State University.
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