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Internationally Experienced Financial Manager/Controller/CPA
06.346.R.05

A versatile Financial Manager/Controller with 20 years' experience in manufacturing, financial operations, cost accounting, acquisition integration, process improvements, SAP implementation, and profitability improvement for leading consumer and high-tech companies with revenues up to $50 billion.

Expertise includes outstanding accounting, finance, budget, leadership, and process management skills with more than ten years running financial operations in Japan, China, Taiwan, Hong Kong, Korea, Norway, Belgium, Denmark, Germany, Israel, Egypt, Greece, Turkey, United Kingdom, Netherlands, Singapore, Indonesia, and Bahrain.

EXPERIENCE

Ready Pac Produce, Inc., Irwindale, California 2005

Director of Cost Accounting/Consultant

Performed product cost analyses for a national, $750 million, fresh cut produce company with six major facilities and 2,000 SKUs. Set up gross margin templates by product line and SKU, determining product line P&Ls within four months. Conducted other accounting operations including gross margin analyses by SKU and by plant.

  • Using developed data, assisted the Marketing Department in developing a turnaround plan for two major product lines.
  • Standardized cost definitions throughout an acquisition, providing comparable costing methods at all manufacturing facilities.

Nestlé, Inc., Glendale, California 2002-2005

Cool Brands International, Inc., (Purchased Nestlé's Distribution Business in 2003) Ronkonkoma, New York

Assistant Controller (2004-2005)

Successfully led the integration of Nestlé's ice cream distribution assets valued at $250 million into the Cool Brands' business model valued at $350 million. Performed accounting and financial duties, developed key performance indicators, created financial reports, developed product line and business unit P&Ls using SAP. Trained more than 20 financial professionals in using SAP software for all accounting functions. Prepared the quarterly (10Q) and annual (10K) statements.

Nestlé Ice Cream, Inc., Bakersfield, California

Manager of Finance (2002-2004)

Originally managed accounts payable, cost accounting, fixed assets and the general ledger for a $700 million business unit. Subsequently, led the preparation of SEC required financial statements for the integration of Dreyer's ice cream business, valued at $1.7 billion, into the company.

  • Developed key performance indicators for analyzing cost by SKUs, by product lines, by brands and distribution channels for more than 1,000 SKUs.
  • Developed a plan that refined the SAP module that improved financial reporting and reduced the monthly closing process from 15 to 4 days.

QRS Corporation, Richmond, California 1999-2001

Manager of Finance

Led the financial reporting process for a public software company with $150 million in revenues. Oversaw general accounting, payroll, purchasing, treasury, and stock option reporting. Conducted cash flow analyses for possible acquisitions. Using Hyperion Pillar, assisted the Planning & Analysis Group, evaluating segments, revenues, costs, and gross margins. Set up accounting for a new subsidiary that grew to 100 employees in one year.

  • Automated HR, purchasing, accounting, treasury, and labor reporting functions to world class company standards, permitting 30% annual growth without additional staff. Facilitated five acquisitions that expanded payroll from 200 to 2,200.
  • Instituted new SAP R/3 reporting for more accurate cost accounting by product line and customers.
  • Centralized purchasing, accounts payable, payroll, and treasury functions saving $600,000 annually.
  • Developed and implemented a foreign currency policy and executed currency hedges that protected the company's overseas businesses.

ChipPac, Inc., Freemont, California 1998-1999

Director of Finance & Government Affairs/Consultant, Shanghai, China

Provided financial and accounting leadership in the successful turnaround of a semiconductor assembly and test company with $500 million in sales. Instituted GAAP accounting principles for the prior three years that met SEC requirements for an IPO.

  • In less than eight months the company achieved positive cash flow and went from a ranking of 13 to 3 in its industry.
  • Improved relations with the Shanghai Foreign Investment Ministry and participated in raising $500 million in private placement for the acquisition of ChipPac from Hyundai.
  • Developed daily, weekly, monthly and quarterly reports, providing data related to productivity, cost by product lines, gross margins, break-even points, and capacity planning.
  • Worked closely with the Shanghai Foreign Investment Ministry to allow additional plant capital investment and arranged with Shanghai Customs for an on-site inspector that saved three days of processing time.
  • Assisted in obtaining United States ISO 9001 certification for the company's Chinese facility.

Nelms-Donham Manufacturing, Inc., San Jose, California 1997-1998

Director of Finance

Improved the accounting staff and IT systems for a privately held $40 million semi-conductor equipment manufacturer making subassemblies for Applied Materials, Inc. Established global financial policies, streamlined procedures, and strengthened internal controls.

  • Managed entire financial, accounting, A/R, A/P, and budgetary functions. Restructured financial reporting by product lines, developed more accurate cost allocation methods, thus allowing better pricing decisions.
  • Developed effective treasury methods to minimize foreign currency risks, eliminated idle cash, and negotiated lower rates on borrowings, saving more than $100,000. Repackaged leases saving $75,000.
  • Led a cross functional team implementing Symix enterprise software throughout the company.

Aero Systems Engineering, St. Paul, Minnesota 1994-1997

Director of Finance

Managed accounting, finance, treasury, SEC reporting, and assisted proposal writing for a $35 million international hi-tech division of a $2 billion European company that designed and manufactured testing systems for automotive and airline industries. More than 60% of sales were for international customers.

  • Directed the entire finance and accounting functions. Developed detailed cost accounting reports by product line, individual products, customers, and cost centers. Communicated results and financial commentary for Wall Street analysts and bankers. Successfully integrated an acquisition including staff, systems, customers, and vendors. Directed risk management, insurance, workers' compensation, and health and medical benefits for 400 employees.
  • Worked closely with the Marketing Department on worldwide proposals for numerous commercial aircraft testing projects valued up to $8 million.
  • Completed financial due diligence related to the potential acquisition of several companies.
  • Assisted the U.S. Import-Export agency and commercial banks in arranging customer loans for the company's products. Created customized financing packages for international customers. Developed standardized contracts and letters of credits to facilitate sales.

Globalinx, Inc., Tokyo, Japan 1992-1994

Finance Manager

Instructed Japanese managers in American financial systems, metrics, and how to work with American financial staff for a private Japanese company specializing in accounting, finance, and human resources. Major clients included Mitsubishi, Toshiba, Sony, Kirin Beer, and Bank of Japan.

  • Used international financial experience, Japanese language, and cultural knowledge for training more than 100 executives.
  • Assisted Japanese clients with financial reporting, budgeting, operating metrics, process improvements, and cash forecasting.

Lockheed Martin, Inc., Fort Worth, Texas (formerly General Dynamics, Inc.) 1980-1991

Controller, Taiwan, Republic of China (1987-1991)

Directed accounting and finance for a $300 million electronics joint venture project located in Taiwan for a $8 billion electronics and aerospace company. Worked with a local accounting firm ensuring that accounting financials met Taiwanese reporting requirements.

  • Participated on a management team that turned around a marginal business into the company's most profitable division.
  • Implemented financial reporting by project, assembly, and item. Provided leadership and direction to financial staff. Reduced month end closing from four weeks to five days.

Manager of International Finance, Fort Worth (1985-1987)

Held accounting responsibility for 20 worldwide manufacturing subsidiaries.

  • Assisted in starting up financial operations in various countries, established financial procedures, and conducted compliance audits. Installed companywide general ledger for foreign operations.

Supervisor of Material Planning, Fort Worth (1984-1985)

Negotiated with worldwide vendors for more than $100 million in products and services. Oversaw scheduling, MRP, and inventory control.

Senior Financial Analyst, Fort Worth (1980-1984)

Performed financial budgeting, planning, variance analysis, project management, and treasury functions.

EDUCATION

University of North Texas, Denton, Texas

Master of Business Administration, Finance

University of Southern California, Los Angeles, California

Bachelor of Science, Finance

Shibusawa International School, Fukaya, Japan

Certificate in Japanese Language Proficiency

Other courses: Integration of company cultures, CPA continuing education courses, foreign exchange currency, activity-based costing, demand planning, and Federal Cost Accounting Standards

Software: SAP, Hyperion, Oracle MS Office Suite, MS Project, Windows, and Quick Books

Additional Language: Speak Japanese

CERTIFICATION

Certified Public Accountant, Texas, No. 35949

AFFILIATIONS

Financial Executives International American Institute of Certified Public Accounts
Commonwealth Club

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Copyrighted © Peter K. Studner 1997-2006
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Los Angeles - Burbank - Westlake Village - Irvine
Mailing Address: P.O. Box 241957, West Los Angeles, California 90024-9757
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