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As a Strategic, Collaborative, and Results-Driven CFO in the Industrial and Manufacturing industries, I have held impactful leadership roles in organizations ranging from $70M to $10B global businesses with proven performance managing revenue goals of up to $650M, operational expense budgets over $200M, and capital expense budgets of up to $45M.I am a capable leader with a track record of attracting, recruiting, and mentoring high-performing teams, establishing the infrastructure that has repeatedly accelerated performance and maximized growth, profitability, and cash generation. I am proficient in executing critical initiatives across multiple industries in both stable and unstable environments while consistently creating and executing cost-conscious business solutions that drive and sustain profit, cash, and growth.ACHIEVEMENT CATEGORIES REPRESENTED BELOW• New Market Penetration• Transformation• Strategic Planning• Offshoring Strategy• Profit / Revenue Optimization• Financial Planning & Analysis• Cash Flow Optimization• Sales Optimization• Team Development• Value Creation• Investor Relations• Turnaround• Budgeting & Forecasting• Reporting & Analytics• Mergers & Acquisitions• Process Optimization
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Chief Financial OfficerFlexcon Dec 2022 - PresentSpencer, Massachusetts, UsCORPORATE PROFILE: A Global Industrial Manufacturing business with 900 employees specializing in laminated films, adhesives, and functional products. RESPONSIBILITY PROFILE: I report to the CEO with 60 employees and 5 direct. I am responsible for all aspects of Accounting, Finance, and IT.SCOPE OF RESPONSIBILITY & ACHIEVEMENT: As part of the Executive Leadership team, I am responsible for leading all aspects of Finance, Accounting, and IT for a global business that designs, manufactures, and distributes coated/laminated films and functional products used in graphics applications, packaging, healthcare, transportation, durable goods, and industrial applications. I led and mentored the Operating Team through contingency plan development/execution while supporting an enterprise-wide ERP implementation as the ERP Steering Committee Chair, Business Process Owner, and Executive Owner. I entered the business as CFO of North America and was promoted to the Global CFO position within the first 5 months. In year one, I built a financial model, which helped support a cultural shift toward organizational transformation, resulting in structural cost changes and contingency cost and revenue countermeasures to offset industry-wide revenue declines while freeing up capital to fuel investments in strategic growth initiatives and the ERP implementation.ACHIEVED IN THIS ROLECASH FLOW OPTIMIZATION• I integrated into the business as it entered a significant downturn driven by macroeconomic headwinds which caused year-over-year revenue declines of ~21%. Directing the Operating Team, a contingency plan was enacted immediately, resulting in over $30M of non-material cost reductions versus the budget. -
Chief Financial Officer Pt 2Flexcon 2022 - PresentSpencer, Massachusetts, UsACHIEVEMENTS CONTINUED To drive sufficient cash flow to weather the downturn and maintain the ability to fund strategic investments, additional initiatives focused on improving working capital led to a 56% YoY reduction in inventory and an improvement in accounts receivable by 38%. These initiatives resulted in a ~$40M year-over-year increase in cash from the prior year and drove increased ongoing performance and predictability in cash flow.REVENUE OPTIMIZATION• Within 30 days of joining the business, revenue began dropping due to an industry-wide headwind as end markets began de-stocking significant excess inventories as supply chain pressures eased. I recalibrated the FP&A team and enacted a business partnering model to support revenue countermeasures and strategic growth initiatives in an effort to capitalize on incoming revenue opportunities. This business partnering model has been cascaded to support operating expenses and ensure spending/productivity targets were also achieved, leading to $8M of incremental annualized revenue within the first 6 months in addition to cost and cash flow benefits. This initiative helped position the business to more than double profitability in the following fiscal year despite planned low single-digit revenue growth and increased investment in innovation, ERP, and strategic growth initiatives. -
Vice President Finance, Industrial Inkjet DivisionEfi Feb 2017 - Nov 2022Londonderry, Nh, UsCORPORATE PROFILE: A $800M Private Equity-owned company with 3,000 employees. RESPONSIBILITY PROFILE: Responsible for a $200M OPEX, $15M CAPEX, $650M Revenue Goal, and 35 employees with nine direct reports. I served as Business Partner to the Chief Operating Officer of the Industrial Inkjet Division.SCOPE OF RESPONSIBILITY & ACHIEVEMENT: A long-term Senior VP/GM left the business. I was then tasked by the CEO to take over the most significant business unit (with $375M P&L and 800 global employees) and led the completion/transfer of the business to a new $40M facility during an ongoing raw material crisis. I created a dedicated sustaining team that delivered $1.5M in value engineering cost reductions in the first 90 days while driving projects to reduce warranty expenses by $4M annually. I then commercialized 8 new products, which have generated over $150M in revenue and over $50M in margin. Successfully led the relocation of America’s spare parts fulfillment center and the addition of a second ink manufacturing site in the UK, reducing $1M+ in annual freight/duties expenses and finishing good scrap by $500K+ annually. This increased customer satisfaction in the second-largest market by significantly reducing lead times, eliminating pressure, and allowing EFI to choose the proper replacement easily. The new Ink manufacturing location supplies 40% of the global ink demand, and these efforts were catalysts in the sale to Siris Capital. Since the acquisition, select business development initiatives have increased profits by $60M (1,100bps), including a 39% YoY profit increase during the COVID pandemic year (despite a 31% drop in revenue), and reduced past due A/R by 40%+ from the previous year delivering needed cash flow. -
Vice President Finance, Industrial Inkjet Division Pt 2Efi 2017 - 2022Londonderry, Nh, UsACHIEVED IN THIS ROLEOFFSHORING STRATEGY• After Siris' acquisition, I was tasked by the CEO and CFO to drive a transformation initiative to improve division profitability by $80M annually. After thoroughly analyzing various scenarios, I partnered with the SVP of Operations and Supply Chain to lead an outsourcing initiative. Personally navigated change resistance to move manufacturing out of the New Hampshire facility, which reduced total manufacturing costs by 12% ($5.2M YoY) and freed up 140K sq. ft. of space to be leased to other companies. This project will free up $40M in borrowing capacity in the next 12 months and improve margins by $10M annually when fully implemented over the next three years.STRATEGIC PLANNING• After China passed its “Blue Sky” Initiatives, raw material costs spiked dramatically, decreasing margins by 700 basis points ($10M). I partnered with stakeholders to drive a profit-level restoration initiative. This cut costs by $8M annually by developing second sources of raw materials to mitigate future supply risks in addition to operational improvements. The decreased expenses realized a $1M annualized benefit within 90 days. Approved a subsequent targeted price increase to drive another $4M annualized profit. As a result of the inaugural ink price increase, efforts broke through a cultural block to offset inflationary pressures through seamless mitigation post-pandemic, increasing overall cash flow and bolstering margins by $12M annually. -
Vice President Finance, Industrial Inkjet Division Pt 3Efi 2017 - 2022Londonderry, Nh, UsACHIEVEMENTS CONTINUEDPROFIT OPTIMIZATION• For over 7 years, no revenue tracking or margin measures existed to monitor the global services business significantly. I scoped and led a cross-functional initiative over six months to build a Service P&L that combined several disparate data sources and enabled a complete and ongoing analysis of the Services business, which revealed opportunities to drive additional profitability. These efforts significantly increased timely visibility into the business and helped grow revenue and profits by $20M within two years. The improvement in the Services business was a significant benefactor in the sale to Siris, as it was seen as a space to develop substantial value creation.PROFIT OPTIMIZATION / RESTRUCTURING / FINANCIAL ANALYSIS• Exchange rates gave European competitors a competitive advantage in one of EFI’s largest markets. The CEO and CFO commissioned me to improve gross margins in the core businesses. I then led analysis and implemented tactical and strategic initiatives, which reduced manufacturing overhead costs by 18% ($5.6M annual savings) and delivered a total $9.2M YoY margin benefit. This drove a 175 basis point improvement to the bottom line. -
Interim General Manager, Display Graphics Business UnitEfi 2018 - 2019Londonderry, Nh, UsRESPONSIBILITY PROFILE: Responsible for the largest business unit of a $1B public company while maintaining all VP, Finance functions. -
Senior Director Of Finance, Industrial Inkjet DivisionEfi 2015 - 2017Londonderry, Nh, UsACHIEVED IN THIS ROLEREVENUE / PROFIT OPTIMIZATION• After discussions with Sales and Management, a hybrid asset finance program was created to allow customers to upgrade their equipment and acquire hardware products and services by purchasing consumables. I then collaborated with functional leaders to streamline processes for optimal revenue and margins, then implemented over 90 days. This initiative drove market share and stability. I won an initial $3.2M sale, which yielded $2M in profit over three years. Over six years, this program delivered greater than $50M in core hardware revenue, and this strategy has since been duplicated for other product lines. -
Director Of Finance, Inkjet Solutions DivisionEfi 2012 - 2015Londonderry, Nh, UsACHIEVED IN THIS ROLEBUDGETING & FORECASTING ACCURACY RESTORATION• I was recruited by the CFO and division SVP/GM to restore forecast accuracy and manage operating expenses in challenging areas of spend. In the first 90 days, I established forecasting tools, tightened spending requirements, improved data transparency, analyzed findings weekly, and delivered actionable and timely information to senior leadership. Through this process, I substantiated to the FP&A team that certain tasks, though difficult, are possible, shifting perspectives. This thwarted excessive spending in real-time, enhanced course correcting, and restored forecast accuracy; the company began to hit its quarterly forecasts. -
Division Finance Manager / Spring Manufacturing Operations Manager / Plant ControllerFreudenberg Sealing Technologies 2007 - 2011Weinheim, DeCORPORATE PROFILE: A $125M Business Unit of a $2.7B Global Division of a $10B company. RESPONSIBILITY PROFILE: I managed a $35M OPEX, $5M CAPEX, $125M Revenue Goal, and four employees with two direct. I was responsible for providing leadership in all aspects of financial management and partnering with the GM to accomplish company objectives.ACHIEVED IN THIS ROLECOLLECTIVE BARGAINING PLANNING & EXECUTION• I was tasked by the VP of Manufacturing and Operations and CEO to lead difficult collective bargaining for 5 manufacturing plants to achieve breakeven within 3 years, reducing 401K match from 9% to 3% and removing the popular (but non-compliant) IPC Separation benefit. I assembled the data/team, built a dynamic financial model, created potential scenarios, and acted as a company spokesperson by leading negotiations. These efforts exceeded leadership expectations, reduced company spending, and the strategy was duplicated with another union in a smaller facility.PROFIT OPTIMIZATION / GROWTH / RESTRUCTURING / FINANCIAL ANALYSIS• In the wake of the 2008 automotive downturn, I was promoted to reverse revenue and profit erosion of 56% over 2008-2009 and elevate profits by $5.5M. I met with functional leaders to brainstorm and categorize profit improvement initiatives (including Just Do It, Six Sigma, Kaizens, etc.) and assigned and monitored leaders by initiative. I then consolidated manufacturing and served as executive lead on all make vs. buy decisions and sourcing, delivering new products and formulations. The synergies realized permanently reduced costs, bolstered against future market fluctuations, and drove a $7M annual profit improvement, which exceeded leadership expectations. -
Financial AnalystGraphic Packaging International Dec 2005 - May 2007Atlanta, Georgia, Us -
Area Sales ExecutivePitney Bowes Jul 2002 - Nov 2005Stamford, Ct, Us
Matthew Gardner Skills
Matthew Gardner Education Details
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Southern New Hampshire UniversityBusiness/Accounting -
Unh Peter T. Paul College Of Business And EconomicsMaster Of Business Administration - Mba
Frequently Asked Questions about Matthew Gardner
What company does Matthew Gardner work for?
Matthew Gardner works for Flexcon
What is Matthew Gardner's role at the current company?
Matthew Gardner's current role is Chief Financial Officer.
What is Matthew Gardner's email address?
Matthew Gardner's email address is ma****@****efi.com
What is Matthew Gardner's direct phone number?
Matthew Gardner's direct phone number is +160367*****
What schools did Matthew Gardner attend?
Matthew Gardner attended Southern New Hampshire University, Unh Peter T. Paul College Of Business And Economics.
What are some of Matthew Gardner's interests?
Matthew Gardner has interest in Hiking, Lean Financial Accounting.
What skills is Matthew Gardner known for?
Matthew Gardner has skills like Forecasting, Financial Analysis, Cost Accounting, Process Improvement, Finance, Cross Functional Team Leadership, Six Sigma, Lean Manufacturing, Strategic Planning, Manufacturing, Financial Reporting, Financial Accounting.
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