Ray Salomon Email & Phone Number

Asked to lead finance and accounting for Hattori Hanzo Shears, the rapidly growing supplier of the world's finest scissors to the hair care industry. Negotiated a large bank line of credit to address cash flow needs and facilitate growth.Resolved long-standing accounting issues and converted cash-based financials into the fully GAAP compliant statements required to obtain a major line-of-credit.Enabled rapid growth by addressing varied operational issues ranging from Human Resources to Risk Management.

I presently offer fractional CFO and revenue management services to varied clients including a medical device start-up and an iPhone App venture.

Davis, Ca, Us

Unanimously appointed by the City Council to this volunteer commission to provide advice and analysis on financial and technical issues related to the $200 million city budget.Helped drive consensus recommendations to reduce the city's structural budget deficit. Identified additional financial issues related to deferred road and building maintenance which were not part of the identified budget shortfall.

Selected lead finance and IT operations for Schilling Robotics LLC, the world's leader in undersea remotely operated vehicles and manipulator arms. This subsidiary of FMC technologies combines sophisticated engineering and manufacturing to produce remotely operated robotic vehicles that work up to 13,000 feet below the surface of the ocean.Identified and corrected significant long-standing accounting issues related to revenue recognition, fixed assets, inventory, and personnel cost reporting.Reduced business risk and improved operational performance by addressing significant shortfalls in IT infrastructure and disaster recovery planning.Helped drive sales by negotiating attractive vendor leasing proposals from major lenders.

Chosen from a large field of candidates to lead finance and operations at SynGen, Inc., a start-up bio-medical device firm that has recently received venture capital funding. I also served as the acting head of quality assurance and regulatory affairs. During my tenure with Syngen, I:Capitalized on my knowledge of ISO quality systems to co-lead the extraordinary effort that achieved full ISO 13485 (Medical) certification in 6 weeks vs. the planned 5 months. This allowed SynGen to bid on a major contract with a European government agency.Brought financial reporting into full compliance with GAAP (as confirmed by the recent year-end audit). This extensive effort required review of all transactions and their accounting treatment, research into various accounting issues, and corrections to the prior reporting.Initiated and managed the upgrade to a modern multi-user ERP/Accounting system to meet the needs of both operational and accounting users.Developed a comprehensive business planning model that facilitates financial forecasting and operational planning.Led the effort to obtain an independent valuation of the company by working directly with an outside appraiser.Negotiated a multi-million dollar line of credit with a major venture financing firm to allow continued operations.Earned a promotion to Senior Vice President based on demonstrated performance.

Havant, Hampshire, Gb

Asked to serve as the head of finance operations, with dual responsibility for both all North American accounting operations and Xyratex's largest manufacturing facility ($700 million+ revenue). As a partner to operating management, my responsibilities encompassed accounting, finance, Sarbanes-Oxley compliance, integration of newly acquired companies, and customs compliance.Xyratex is the leading manufacturer of high-end data storage units and data storage manufacturing equipment for server and cloud computers.

Asked by major investors to serve as CFO of a medical device start-up as it sought new funding.Developed alternatives for product engineering and design, component selection and sourcing, intellectual property management, marketing, manufacturing, debt restructuring, and recapitalization. Obtained investor support for recapitalization plan through presentations to key shareholders.

Us

Selected to be CFO of a publicly traded company with a proprietary, environmentally friendly process to recycle plastic containers. Responsible for finance, accounting (including SEC filings and other requirements), IT, HR and purchasing in this green technology start-up as it began volume production.Improved operational performance by developing a robust and comprehensive financial planning & analysis model, and implementing enhanced management reporting.Identified and implemented necessary organizational changes and process improvements to reduce costs, optimize results, and ensure public company reporting compliance.Achieved full Sarbanes-Oxley certification by developing and implementing detailed accounting and internal control procedures.

Recruited to be the first CFO of this leading manufacturer of highway safety products following its acquisition by Lindsay Corporation. Directed finance, accounting, information technology, and human resources in a high-growth environment. Facilitated rapid world-wide growth (revenue doubling in 10 months) by designing and implementing processes, systems, and management reporting.Replaced the existing Sage MAS 90/200 accounting/ERP system with Microsoft Dynamics – NAV (formerly Navision) to improve financial reporting and inventory planning & control.Resolved major operational issues and assumed financial management of Snoline S.p.A., a leading European highway safety firm headquartered in Milan, Italy.

Dearborn, Michigan, Us

Chosen to launch a new organization which added a senior finance manager to 11 sales regions to serve as controller, revenue manager and business advisor. Promoted and transferred to Irvine, CA, to lead this group for the Western & Central United States. Increased the Western & Central regions from 54% to 58% of U.S. sales by collaborating with regional marketing & sales managers to implement innovative pricing and marketing actions.Improved decision quality and drove results in the sales regions by introducing full budget reporting and forecasting (including complete P&L and detailed management information).Identified and resolved significant accounting and internal control issues thereby achieving unqualified financial statement certification and Sarbanes-Oxley compliance. Awarded multiple recognition rewards for outstanding performance.

Dearborn, Michigan, Us

Led groups responsible for setting vehicle prices ($50+ billion annual revenue) at the Lincoln Mercury Division [2001 - 2003] and Ford Division [1998-2000]. Developed pricing strategies, detailed analysis and projections of competitive actions, estimates of consumer response and sophisticated econometric models. Managed revenue forecasting and accounting. Increased revenue by 2% to 4% year-over-year despite industry-wide price reductions by developing and implementing innovative pricing and revenue management strategies.Championed Six Sigma quality projects that reduced logistics costs by $4 million annually.

Dearborn, Michigan, Us

Selected from 27 candidates to move to Lincoln Mercury Headquarters in Irvine, CA, into a new Director position. Worked closely with the Division Vice President to develop and implement the five-year strategic plan for the newly-separate division (with revenue of more than $10 billion). Launched comprehensive revenue & cost forecasting and reporting system (including a balanced scorecard system) that provided external reporting and insightful management information.Increased profits by $30 million by developing a comprehensive analysis which led to the Mazda-produced Mercury Cougar being discontinued a year earlier than planned.

Dearborn, Michigan, Us

Promoted to serve as the first Controller (Division CFO) of a newly-formed global logistics organization with an annual budget exceeding $3 billion. Position combined global finance, accounting and audit functions with direct operational responsibility for inventory management.Received recognition award for successfully merging 31 accounting/finance and 24 logistics professionals in the United States, Britain, Germany, and Brazil into a single organization. Reduced costs by more than $65 million annually by developing a comprehensive analysis of logistics and operational costs, and leading a rigorous control effort.Personally led an aggressive global inventory control project that resulted in a 13% ($1.2 billion) reduction in one year.

Dearborn, Michigan, Us

Promoted to be Controller, with full P&L responsibility, of a $270 million, non-automotive operation with 23 diverse business units (including graphic arts, truck and rail transportation, construction and facilities management, and an electrical co-generation plant). Managed accounting and finance functions, along with purchasing, quality control, and the administrative staff for this 1,600 person organization.Improved profits by $32 million over two years through detailed activity based cost analyses and rigorous cost and revenue control efforts.Partnered with operating management to achieve ISO 9000 and Q1 quality certification.Led the spin-off of an unprofitable $25 million printing/reprographics unit by developing a comprehensive analysis of strategic alternatives and a full due diligence review.

Mba, Finance

Ba, Economics

H.S. Diploma, College Prep