Michael P. Rogers

Professional Profile

Finance/Accounting professional with experience in corporate finance, accounting, management and administration leadership. A proven leader with expertise in accounting systems development, fiscal management, financial reporting, forecasting and strategic planning. Confirmed record of developing and implementing financial and operational controls to improve P&L performance.

Areas of Expertise

Financial and Strategic Planning, P&L Management, Operating and Working Capital, Budget Development and Management, Forecasting Revenue and Expenses, Cash Flow Management and Modeling, SEC reporting, Sarbanes-Oxley implementation, Banking Relationships and Credit Facility Negotiations, Revenue Recognition, High Tech Industry Experience, Business Development and Partnership Negotiations, Turnaround Specialist, Restructuring and Leverage Financing, Leadership of Administrative Departments. Excellent Presentation and Communication skills. Experienced in Oracle Financials, PeopleSoft/JDE, Hyperion and SAP.

Work Experience

Eurodesign Cabinets, Inc. Chino, CA

Chief Financial Officer, Vice President Finance, 2006-Present
Reporting to the CEO, directed comprehensive turnaround strategy leading to a successful sale of the company
Installed a comprehensive Accounting software package and restored data integrity to the financial reporting system.
Led financial turnaround program that increased profitability of the company by $10M+ in the first year
Successfully brought the company back into compliance with lending covenants within six months
Increased working capital by over seven figures in the first year
Successfully positioned the company to complete a debt restructure
Successfully brought company into compliance with DOL benefit regulations
Implemented aggressive inventory management techniques to reduce inventory by 37% within five months
Audited financial statements released within 59 days of year end with no adjustments to company records

Polycold Systems Inc. Petaluma, CA
Controller, 2004-2006
Reporting to the business unit General Manager, successfully directed comprehensive turnaround strategy leading to a profitable sale of the company.
Led strategic initiative to improve gross margin results. Within one year gross margin increased from 34% to 45%
Successfully overhauled the focus and strategic direction of the Accounting Department by leadership of a results driven, bottom line methodology.
Successfully implemented strategy to improve Net Operating Profit. NOP increased from 12% to 24% within one year
Leadership of a team that successfully installed Sarbanes Oxley compliance program
Revamped collection activity to improve cash flow by design and implementation of a credit program that yielded early identification of risk and active methods to resolve problems. DSO improved by more than 10 days with 4 months.
Through successful leadership and execution, increased cash flow in excess of $2M over corporate plans.
Working with the executive team, designed strategy to improve results in all operational areas. The company exceeded all financial metrics measured by the company for 4 consecutive quarters.
Working with the General Manager, produced monthly reports to Corporate detailing results of the business unit.
Working with the executive team, created and delivered presentation designed to divest the business unit. The effort culminated in a successful sale that exceeded expectation of gross proceeds.

INDUSTRIAL ELECTRIC MANUFACTURING Fremont, CA
Vice President Finance/Corporate Controller, 2000-2004
Reported to the CEO, accepted the challenge of overhauling company operations in a turnaround environment. Create and present reporting packages to the Board of Directors and five investor groups.
Present financial package to potential new investor groups. Negotiated 8 figure line of credit with a major bank.
Completely redesigned companys Finance and Accounting functions, implemented budget and financial controls, designed and instituted new revenue forecast procedures increasing accuracy of forecasts for this power distribution and service manufacturer.
Developed strategic and financial plan that integrates capital and operating budgets to meet the goals of the company.
Created new report format to provide comprehensive view of key metrics used to measure achievement across the geography.
Create timely and accurate financial records and reports, ensuring compliance with all corporate governance policies.
Implemented inventory control procedure to reduce inventory by 15% in the first year, increasing cash flow by over $2M.
Work directly with National Sales teams to structure terms and conditions of sale to major customers, increasing margins by 8%.
Created new internal control process that reduced expenses by $14.5M in the first year.
Direct staff of 14, including 5 department heads (including Accounting, Purchasing, HR, Inventory Control and IT).
Responsible for commercial contract acceptance, purchasing and facilities management.
Led restructuring project to increase throughput of transaction volume by over 40% in first year.
Completely redesigned company benefit plans resulting in a 12% expense reduction in the first year.
Completely reorganized accounting, financial and administrative functions at a related company resulting in a break-even operation within 9 months.
Successfully negotiated settlements on outstanding lawsuits on favorable terms, reducing pending litigation from 24 suits to 1 within 6 months.

IBM CORPORATION
Sequent Computer Systems - San Francisco, CA
Western Region Controller, 1998-2000
Reported directly to Division CFO. Successfully implemented control, management and administration of a $700 million sales and service region.
Redesigned system of internal control to ensure general ledger balanced within three days of month end.
Accurately produced monthly P&L statements for 6 sales districts and 3 service districts.
Performed BVA analysis to actively manage expenses, resulting in $850K savings during the fiscal year.
Created detailed HR reports and provided analysis for District managers and Region VP.
Created and implemented a new forecasting and expense control model for the region that was so successful it was implemented nationwide in the division.
Actively negotiated credit terms with several large customers resulting in incremental sales in excess of $35M.
Identified cost reduction opportunities resulting in an increase in gross margin of 5% in the first year.
Prepared SEC documentation package reporting region data.
Redesigned division reports to give a comprehensive view to all activity.

STOESSER INDUSTRIES - Mountain View, CA
Chief Financial Officer and Controller, 1989-1998
Member of the Board of Directors, 1989 2008
Reported directly to the President of this diversified manufacturing and service organization in a turnaround environment.
Directed all aspects of corporate financial planning and cash flow analysis.
Established and achieved strategic corporate wide goals and had ultimate responsibility for the bottom line results.
Successfully negotiated sale of a division generating $millions to reinvest and upgrade core business.
Developed and executed strategic plan to acquire two domestic competitors, increasing revenue 25% in the first year.
Negotiated European and Asian distribution agreements resulting in an increase in revenue of 35% in the first year.
Created international joint partnership venture that increased profitability of one division over 35%.
Reduced inventory over 20% producing a decrease in carrying costs of over 45%
Implemented new Insurance coverage resulting in a savings in excess of $100K
Led successful effort to reduce legal expenses by $100K by implementing program of communication and review of procedures.

VIASYN CORPORATION - Hayward, CA
Chief Operating Officer, 1986 to 1989
Reported directly to the President of this computer system and component manufacturer.
Directed a staff of 5 department heads, (including Operations, Accounting, HR, Purchasing, and Admin.) with responsibilities for planning, implementing and achieving corporate wide goals, including bottom line performance.
Actively participated in successful negotiations with foreign distributors and OEM's to carry the product line in various countries.
Chief Financial Officer, 1983 to 1986
Researched, identified and successfully negotiated a joint venture with a European distributor that resulted in a 33% increase in sales the first year.
Successfully negotiated joint venture partnerships with two domestic distributors resulting in a 22% increase in revenue

Bank of America
Corporate Lending Officer, 1978 to 1983
Reported to Group Vice President, Corporate Banking. Responsible for corporate lending portfolio targeting middle market corporate accounts.

Education
California State University, Hayward
M.B.A. Finance, 1980
B.S. Accounting, 1978