Michael Ascenzi Email & Phone Number

San Jose, Ca, Us

CFO of Cisco’s Acacia Division-Responsible for full P&L management of newly-acquired Acacia Division ($800M+ revenue)-Leader of finance team, consisting of 25 professionals-Acacia was acquired by Cisco in 2021 for $4.5B

Maynard, Ma, Us

• Created pricing model for the company to optimize margin for highly diversified product portfolio and customer base. Responsible for approving pricing deals. Created standard margin targets by customer and product.• Initiated company-wide cost out program. Working cross-functionally to set goals and schedule by function, including Value Engineering and Procurement. Expected overall impact is ~$30M+ savings in 2020 (10% of COGS).• Conceptualized potential incremental ~$2M revenue stream for the company via an extended warranty program. Created pricing structure to include leveraging entire install base and a program to capture new sales.• Architected product lifecycle ROI standard for all existing and new products at Acacia, used in product gate reviews

Shelton, Ct, Us

Summary: Joined PKI to start Supply Chain Finance function from scratch, including developing processes and KPIs, forecasting, cost out, inventory and standard cost setting. Became responsible for forecasting corporate Gross Margin during monthly Executive reviews. Reported directly to PerkinElmer CFO; business partner to COO.Key Accomplishments:• Managed ~$1.2B company-wide cost, including Direct and Indirect Materials, Factory Direct Labor, Overhead, Inventory, OCOGS, across 14 worldwide factories and ~1700-person org• Presented corporate Gross Margin forecast, monthly Ops strategy, performance metrics and cost out updates to CEO and Senior Leadership team• Led company-wide working capital initiative to generate $40M incremental cash flow through Raw, WIP, Finished Goods inventory controls and AR/AP improvements• Implemented new Gross Margin standard at PKI to quantify impact from mix, price and cost from two P&Ls within PKI • Created site footprint strategy and evaluation metrics for site consolidation and product movement ideas

Hopkinton, Ma, Us

Summary: Took over highly capable 30-person Finance organization. Focused on innovative cost reduction ideas, how to compare factories, and orchestrated complete morale transformation of a geographically dispersed Finance team. Transitioned organization through Dell acquisition and contributed to identification of Deal synergy creation and tracking. Among 20 individuals selected to EMC’s Global Finance Leadership Program.Key Accomplishments:• Managed all financial activity of ~$1.0B+ overhead and ~$4.4B+ COGS, worldwide manufacturing at 3 internal factories and 6 contract manufacturers, as well as Procurement and Logistics for a 2400-person organization• Directly influenced $57M of total P&L impact via: 1) sourcing decisions with contract manufacturers, 2) product line make vs. buy strategies, 3) factory consolidations, 4) Ops headcount reductions • Drastically improved employee satisfaction survey scores within Finance via global recognition program, expectations matrix, and an open culture of collaboration and job sharing• Conceptualized and created worldwide Director Forum, consisting of 80+ worldwide Finance Directors

Santa Clara, California, Us

Summary:Responsible for overall factory profitability of an older factory ($800M transfer price, ~800 headcount). Explored alternative technologies unique to Intel (MEMS) and new strategy (Fab as a Foundry business). CEO decided to shut down factory; tried (unsuccessfully) to overturn decision through extreme cost cutting. Spent final year planning shut down and EOL product supply planning. Implemented factory closure strategy and headcount reduction strategy. Key Accomplishments: • Provided M&A valuation recommendations and sought opportunities to sell facility as Operating Fab. Actively worked with 3rd party brokers and potential buyers to maximize cash outcome for Intel.• Articulated ROI for in-house design and production of a first-of-kind tablet and smartphone power management chip, which would have resulted in $880M of additional revenue for Intel• Influenced and implemented $10M self-funded retention bonus strategy, based on output and quality parameters, with goal of retaining factory personnel, while pulling in end of life factory date

Santa Clara, California, Us

Summary: Intel was attempting to compete with discrete graphics products with embedded graphics within its chips. Responsibilities included creating and presenting quarterly topics to CFO on developments in graphics industry, and recommendations on ways to maximize Intel’s Market Segment Share.Key Accomplishments:• Co-created marketing collateral to compare performance of Intel products vs. competition, impact was successful implementation of corporate-wide sales goal of 30M units of newly-introduced semiconductors.• Influenced Intel’s product development, R&D, pricing, and marketing strategy by providing competitive research and benchmark information of Intel graphics products

Santa Clara, California, Us

Summary: Accepted expatriate assignment to prepare for significant growth in Asia. The role was a priority for Intel due to the significant amount of forthcoming Intel revenue to be tested within Malaysia’s 6 factories.Key Accomplishments:• Responsible for recruiting, hiring, coaching, performance managing and developing regional organization, with specific focus on building team’s financial acumen, results orientation and partnership• Managed 66 unique construction and tool install projects ($137M annual spend). Optimized cost through value engineering, scope reduction, contracting strategies, schedules, and conducted business ethics audits to reduce collusion• Orchestrated closure of two local factories; included movement and re-installation of 500+ manufacturing tools. Identified $7.9M of cost opportunities and presented to worldwide Finance VP.

Santa Clara, California, Us

Responsibilities included auditing specific high risk areas of company, including multi-billion dollar factory construction, new product introductions, and assembly/test manufacturing.

Santa Clara, California, Us

Managed all financial activity ($120M annual expenses, plus $100M capital for new construction) to support the maintenance, operations and new construction cost for Intel’s 16 offices and semiconductor manufacturing facilities throughout Eastern US and Canada. Directly supervised team of nine financial analysts.

Santa Clara, California, Us

Responsibilities included maximizing Intel’s profitability and competitive position by forecasting financials for new product introductions in telecommunications segment, and by recommending price points and R&D and marketing budgets to executive management. Performed ROI analyses by implementing Monte Carlo simulations and presented investment recommendations and sensitivity analyses to management for 30+ new product introductions.

Santa Clara, California, Us

Responsible for budgeting, planning and analysis of Intel’s server microprocessor marketing program with ~$100M annual spending. Presented monthly spending results, approved all spending and suggested areas of improvement, implemented budgetary controls, implemented budgeting and forecasting tool and trained 200 employees.

Bachelor Of Science, Applied Economics & Business Management

Mba, Business Administration And Management