Michael Bolander Email & Phone Number

Duluth, GA, US

Brussels, Brussels Region, BE

• Report to CFO and support Business Unit vice presidents of $1.5B sales turnover in USA, Europe and China for multiple markets including distributors, food and pharma packaging, consumer products, healthcare.
• Finance transformation leader to redefine processes for monthly rolling forecasts and accuracy improvement
• Extensive modeling to maximize sales prices, considering both raw material cost inflation impact and value-added pricing from external environment resulting in over $200M in price increases on $500M of sales
• Work closely with supply chain to develop optimization models for transportation costs
• Responsible for review and recommendations on more than $1B of capital project spend
• Serve on Board of Directors for Joint Venture in Japan

Represent Solvay as the audit member on the board of a joint venture with Sumitomo Chemical in Japan.

Brussels, BE

• Finance leader for business shift from product line focus to customer centric focus
• Support leadership teams for multiple markets including healthcare, environment, consumer products and construction
• Developed dashboards and monthly package for presentation to management team
• Supported multiple M&A projects

Brussels, BE

• Developed relationships with multiple business line teams and provided financial guidance to assist in growth plans
• Active member of multiple management teams
• Partner with operations to achieve inventory and other working capital targets

Brussels, BE

• Support Aerospace Vice President for strategic, commercial, and business financial requirements
• Redesigned monthly close and forecasting cycles to reduce time requirements by all functional partners
• Created Service Level Agreement as part of redesign of contract review process
• Support profitability assessments for military and commercial programs including F35 and Boeing 777X
• Responsible to identify financial analysis activities and provide training to expand role of shared service center in Riga, Latvia

Brussels, BE

• Acted as lead finance support to consolidate Cytec results and budgets in Solvay systems
• Developed new reporting tools to align with Solvay and educate Cytec leaders on new P&L and Simplified Cash Flow metrics

US

• Managed staff responsible for supporting FP&A, long-term strategic planning, customer contract reviews, capital expansions, procurement, market segment teams, sales, and R&D
• Created customer, market, and product margin reporting that allowed for detailed profitability analysis and uncovered profit improvement opportunities
• Partnered with commercial organization to develop detailed marginal income forecasting tool
• Established project accounting tool to capture expense spending in a systemic way, allowing for better understanding of expense spending, which resulted in better expense control
• Participated on customer focus team and provided training to all finance in North and South America
• Partnered with sales organization and operations group to implement a sales and operation planning process to improve timeliness and accuracy of sales forecasting and deliver annual strategic plans

US

• Launched new FP&A department and developed organizational capabilities to provide enhanced views on business and developed standardized processes for budget, forecast, strategic plan, and close cycles
• Supported acquisition team and identified attractiveness of potential acquisition targets
• Established and led ongoing IT steering committee to facilitate implementation of Cognos
• Developed standard costing tools to facilitate more accurate standards and better visibility into price variances
• Reduced monthly reporting results package to senior management from 120 pages to 30 pages while providing increased information and analysis in place of the previous large amounts of data

Nashua, New Hampshire, US

• Established understanding of how local financial systems linked to corporate systems and created chart of accounts mapping allowing for detailed variance analysis in corporate formats
• Supported four-year post-acquisition audit with complete, thorough data that the company was previously unable to provide
• Realized annual savings of over $1.0 Million through use of Travel and Expense metrics
• Led cash application project to reduce unapplied cash from $7 Million to less than $1 Million

Mentor, Ohio, US

• Generated financial results for six unique product lines and provided recommendations on how to improve profitability and ROTC
• Supported sales and marketing by tracking successfulness of marketing campaigns
• Created marketing ROI tool that allowed for more thorough design of projects and provided better use of marketing spend to generate positive returns
• Standardized monthly reporting package to allow analysts to spend less time generating reports and more time doing analytical work

Mentor, Ohio, US

• Provided financial support for annual capital spend of $10 Million and Six Sigma projects that generated annual savings of more than $25 Million
• Provided financial support, including buy vs. lease analysis, with accompanying costs and benefits, for one plant closure and for a new manufacturing site in Juarez, Mexico
• Assisted plants in becoming Sarbanes-Oxley compliant and participated in site testing
• Created simplified standard costing procedure that allowed costing to happen twice a year

Mentor, Ohio, US

• Created category contribution margin reporting to prove out category definitions and to determine if resources were being spent accordingly
• Developing metrics and standard processes for new shared services center

Mentor, Ohio, US

• Led SKU reduction team for Index business unit resulting in elimination of 20% of SKUs
• Furnished support and analysis for Index business unit move from Mexico to China

Orange County, California, US

• Worked as Database Administrator in Control (Excel front-end for Oracle, similar to Essbase) and provided support, including training, to corporate office and field finance professionals
• Supported Oracle implementation and conversion from MSA system
• Assisted in negotiation of nationwide office supply contract to save BAX Global $3.5 Million per year

Master Of Business Administration (Mba), Finance, General

Bs, Management, Finance