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ОглавлениеCHAPTER 6
FOUR EXHIBITS OF C-LEVEL HIRES FROM SKIN IN THE GAME SEARCHES
Below are the Indiana Jones Bio, resume, and cover letter exhibits of four skin in the game senior executive functions: hired CEO, CFO, VP Operations and VP Sales and Marketing.
*Read only the Indiana Jones Bio, resume, and cover letter exhibits pertaining to your own particular functional job title.
N.B. stands for Nota Bene or Note Well. All names of candidates, companies and locations have been changed for confidentiality purposes. Any similarity of fictional names used to actual names of persons, employers, and locales is purely coincidental.)
Below are the Indiana Jones Bio (IJ), resume, and cover letter exhibits of Tom Frederick, a skin in the game CEO hired as Architectural Building Products Manufacturer CEO.
Indiana JonesEarly Background
Tom Frederick was born at Altus Air Force Base, Altus, Oklahoma. When Tom’s father completed his military service, the family settled in a suburb of Philadelphia, Pennsylvania until the family moved to Denver, Colorado when Tom was thirteen. Tom’s father worked as a mining engineer consultant in the domestic oil and gas mining sector. His mother was a stay-at-home mother for most of his early childhood. After moving to Denver, CO, his mother went to work in the library of the local school. Both parents are currently retired.
Tom is the second of three siblings. He has an older brother who now resides in Houston, Texas, where he directs marine operations for an international engineering and construction company. His younger sister graduated from The University of Oklahoma. She resides in Tulsa, OK, where she teaches high school algebra and trigonometry.
During high school, Tom was very active and achieved a high degree of academic and athletic success. He was the valedictorian of his class and received several merit-based scholarships. Tom also lettered in football, wrestling, and track. Tom was the East High School football team captain and earned All-District honors.
Secondary Education
Tom attended The University of Texas, Austin. During the school year, he worked twenty hours a week at various jobs including tutoring in calculus and substitute teaching at a local high school. He was also a leader in the Residence Hall Association and active in intramural sports. Tom was recognized as a Distinguished Student and graduated cum laude in August 1980 with a Bachelor of Science degree in Civil Engineering (Structural Engineering concentration). He was awarded membership in the Tau Beta Pi, Chi Epsilon, and Phi Eta Sigma national honor societies.
After a few years of work experience, Tom returned to school to broaden his understanding of business operations. He attended The University of Chicago. Under a graduate assistantship program, he worked thirty hours a week as a career counselor in the Business Placement Office at The University of Chicago. Tom graduated in May 1984 with a Masters of Business Administration in Finance.
Throughout Tom’s career, his professional education has been continually enhanced through attendance in numerous seminars and short courses in topics including leadership development, strategic planning, corporate development, sales and marketing, communication, lean manufacturing, recruiting, safety, and software applications.
For several years, Tom served as the Diamond APG industry representative to the Remodeling Futures Program of the Joint Center for Housing Studies. This program was based at the Kennedy School of Harvard University.
Entry Level Work and Early Work History
Transocean, Inc., Houston, TX – summers (two years)
While attending The University of Texas, Austin, Tom worked during the summers on offshore drilling rigs. He started as a roustabout and was promoted to roughneck and derrickman. Work hours were long, sometimes requiring thirty-six-hour shifts. The compensation was good, but the job was hard, dirty, and dangerous. This experience gave Tom a great appreciation for the value of a good education.
McGregor International, Inc. ($6.6 billion - revenue)Houston, TX and New Orleans, LA - 1980 to 1982Title(s): Structural Design Engineer - 1980 to 1981Field Engineer - 1981 to 1982
McGregor International is a market leader and worldwide provider of engineering, construction, and project management services to offshore oil and gas developments. Tom was hired as a Structural Design Engineer in McGregor’s Houston office. Initial projects included the design of a compressor station, flair boom tower, deck extensions, and jackets for offshore platforms. He was a lead engineer on a unique jacket replacement for a storm-damaged structure.
In 1981, Tom was selected from a pool of over twenty candidates for a one year reassignment to McGregor’s New Orleans office. In his new capacity as a Field Engineer, Tom supervised offshore construction and subsea pipeline installations. He was second in command of construction barges with crews ranging from 200 to 350 men.
When he returned to the Houston design group, Tom realized that his passion was in operations vs. office-based design work. At the same time, he recognized that he would benefit from a greater understanding of business fundamentals. To accomplish these goals, Tom applied for admission to graduate business schools.
Reason for Leaving
Tom left McGregor International to pursue a full-time MBA curriculum at The University of Chicago, IL.
D.W. Alexander LLC Management Consulting ($9.9 billion - revenue)Dallas, TX - 1984 to 1995Title(s): Associate Consultant - 1984 to 1986Senior Consultant - 1986 to 1987Manager - 1987 to 1990Senior Manager - 1990 to 1995
D.W. Alexander LLC is a leading management consulting and financial advisory firm to top organizational leadership on issues of strategy, organization, and operation.
The consulting challenge was to diagnose complex business problems and implement corrective solutions in a time sensitive environment. Tom enjoyed the dynamic, high pressure environment where he was constantly exposed to new ideas and practices, and fresh challenges. He thrived as a consultant and was promoted three times in eleven years.
Tom was a member of D.W. Alexander’s Reorganization Advisory Services Group. He led business reorganization teams to improve marketing and sales, product mix, cost controls, customer service, cash management, financing, compensation systems, and asset deployment. Project teams consisted of managers and senior staff from D.W. Alexander’s consulting, audit, tax, actuarial and benefits, and business valuation groups. Representative engagements included Hale Corporation, Wethersfield Communities, Universal Homes, John Deere, Dallas Fort Worth Bank, Silicon Valley Bank, and Third Republic Bank.
Many of Tom’s engagements required complex financial and operational analysis. He directed teams that identified billions of dollars in annual cost savings and productivity enhancements in supply, distribution, marketing, customer service, finance, work force management, and support services. In other projects, he assessed the economic viability of three multi-billion dollar projects.
Tom was an active participant in the sales and marketing of professional services including client research, preparation and delivery of proposals, cold calling, and conducting seminars and training sessions. He collaborated with Beaumont Partners to develop and roll-out the firm’s Shareholder Value Maximization product.
When the firm was looking for new avenues to capture talented recruits, Tom joined a group of senior professionals to found D. W. Alexander’s Business Analyst Program. After establishing objectives, procedures, and action plans, the program was rolled-out nationally. Tom developed, recruited, trained, counseled, and administered the Dallas Business Analyst Program.
Exposure to many successful Partners and the rigors of the consulting environment allowed Tom to hone his skills and talent for leadership, team-building, strategic analysis and planning, quantitative analysis, process improvement, collaboration, and communication.
Reason for Leaving
The management consulting lifestyle that required near 100% travel made it difficult to maintain family relationships and support the development of children. In addition, Tom desired to return to a construction-related field. When an attractive corporate opportunity was presented to join the Diamond Industries, Inc. Architectural Products Group, Tom accepted the offer.
Chronological Job Titles during Later Career:
Diamond Industries, Inc., Architectural Products
Group (APG) ($3 billion - revenue)
Atlanta, GA and Dallas, TX - 1995 to 2003
Title(s): Vice President, Corporate Development - 1995 to 1996
President, Pontiac Aggregates - 1996 to 1998
President, APG South Region - 1998 to 2001
President, APG West Region - 2001 to 2003
Diamond Industries, Inc. is the U.S. holding company for Glasgow, Scotland based HCR plc. and the largest manufacturer of building materials and architectural products in North America. It employs a lean, flat organizational structure with limited overhead. Diamond Industries made a practice of hiring engineers with consulting backgrounds to staff corporate development positions. This filled a needed role and provided bench strength for future management needs.
As Vice President of Corporate Development, Tom was responsible for the Architectural Products Group’s internal and external growth initiatives including acquisitions, new plant development, strategic planning, and special projects. He also served as a consultant to Diamond Industries APG Company and regional presidents, recommending business alternatives and assisting with any quantitative analysis.
During his tenure, external growth was fueled by the acquisition of three manufacturing companies. Tom identified companies, followed up on leads, analyzed the opportunities, designed acceptable offers, prepared the board proposals, and coordinated the integration of the acquired companies.
Internal growth was supplemented by the development and execution of plans to construct four Greenfield plants. Previously when Diamond Industries APG built Greenfield plants, there were often cost and schedule overruns. Tom used MS Project to establish critical paths and budgets for all Greenfield projects. Employing these tools and closely monitoring progress, each project came in on time and under budget.
The development position allowed Tom to meet many successful entrepreneurs. He benefited from the stories of their triumphs and accomplishments.
In 1996, Diamond Industries APG experienced trouble with one of its operating companies, Pontiac Aggregates, in Atlanta, GA. The CEO and CFO were fired after they were implicated in a corporate fraud leading to a $4MM loss. The group CEO asked Tom to take over the troubled operation.
As the new President of Pontiac Aggregates Industries, Tom assumed leadership of a distressed $32MM, 140 employee, lightweight aggregate manufacturing company. He was challenged to turn around a company that cumulatively had not made a profit in the last ten years. Morale was low; employees were afraid they would be fired and fearful the company would be sold. Problems under the previous administration made Pontiac Aggregates an HCR board level issue. In the first few months of the turnaround, the level of administrative scrutiny was oppressive.
Tom orchestrated a dramatic three-year turnaround. EBIT improved from -$3.9MM to +$6.4MM and Return on Net Assets ( RONA) increased from -12.9% to +22.3%. The product line was expanded, and new channels were developed thus expanding distribution. The result was a $16MM, or 62% increase in sales. Output was increased by 25% and unit costs were lowered from $17.01 to $13.16. A record was established for four years without a lost time accident. Many of the tactics that were employed to achieve these results were subsequently implemented in comparable situations throughout Tom’s career.
When Tom joined Pontiac Aggregates, he brought the remaining management group together as a team by increasing accountability, sharing information, putting together plans, prioritizing key issues, and making sure that everyone was on the same page.
Much of the initial focus centered on improving the production quality, capacity, and efficiency of the plants. The production process employed natural gas and powdered coal-fired kilns. Fuel made up the largest component of the cost structure. By improving the flame characteristics and heat dispersion, product quality and output was dramatically enhanced. Costs were lowered yielding large positive production variances.
To further improve production, steps were taken to implement a comprehensive preventive and predictive maintenance program. Thermography (infrared photography) was used to identify electrical issues and address potential failures. Vibration analysis was used on all motors to eliminate bearing failures. Oil was scrutinized at a micron level to improve filtration and prevent hydraulic failures. These efforts combined to significantly reduce equipment failures and avoid thousands of dollars in downtime.
Sales procedures were also transformed to be more effective. Pontiac Aggregates’ traditional selling practice was linear and time consuming. Tom saw opportunities to consolidate the selling process by addressing activities concurrently instead of consecutively, thereby shortening the sales cycle. Tom brought key management on all large sales calls. This procedure allowed Pontiac Aggregates to address any objections and close sales immediately.
Lightweight concrete using Pontiac Aggregates offers design flexibility and substantial cost savings by providing lower dead loads, improved seismic structural response, longer spans, better fire ratings, thinner sections, less reinforcing steel, and lower foundation costs. Tom worked with the deans of the schools of architecture at Georgia Tech, North Carolina State, and Clemson to convey these important concepts to their graduating students. Tom was appointed to the Development Board at the Duke School of Architecture. This provided an immediate connection to many of the leading architects in the South. The heightened exposure greatly improved Pontiac Aggregates’ product specification.
With expanding product specification, sales reached the production capacity of the plant. To further enhance profitability, prices were selectively increased. Certain product segments that were not profitable were pushed to competitors.
Plant safety was also a critical area of focus and priority. A full-time Director of Environmental, Health and Safety (EHS) was hired. Employee-directed safety committees were formed and industry experts were consulted. This emphasis reduced lost time accidents from four or five per year to no life-threatening accidents in a four year stretch.
To improve distribution, Pontiac Aggregates began shipping product at off-peak times to strategically located strategically located inventory terminals. These stores were drawn down when demand exceeded plant shipping capacity. Efforts were made to ship with the most economical carrier. Barge-shipped product could lower transportation costs by as much as 80%.
Formal strategic and capital planning processes were implemented. These processes were year-round and incorporated a great deal of feedback from the field. Key goals and objectives were communicated to all employees in the form of charts and graphs. Progress was tracked against budget and prior year performance. These initiatives stimulated many conversations about what could be done to further improve performance.
Tom groomed the Vice President of Production to be his successor and arranged for him to study for an MBA degree on a part-time basis. As the VP assumed more responsibility, Tom had more time to help with other struggling operations in the Diamond Industries APG organization.
In 1998, Tom was promoted to Regional President, Diamond Industries APG South. This group was newly-formed and initially consisted of six manufacturing and distribution companies with sales of $132MM. Group building products included masonry, architectural stone, bricks, patio products, retaining walls, bagged stone and concrete, fly ash, and lightweight aggregate. Tom was challenged to expand the region and convey the important strategic lessons learned at Pontiac Aggregates.
Many of the programs started at Pontiac Aggregates were rolled out to all APG South companies. These initiatives included detailed preventive and predictive maintenance, strategic planning, capital effectiveness programs, financial and operational reporting of key metrics, transportation effectiveness, and working capital management.
New safety initiatives were also adopted. Machine lock-out procedures were standardized and communicated. Yards were paved to prevent stacking failures. Plant interior walls were painted white to improve visibility. All accidents required immediate investigations; plants were shut down to share the investigation results. In quick order, APG South established the best safety record in Diamond Industries APG.
While leading APG South, Tom directed the acquisition of three manufacturing companies. He identified the prospective companies, analyzed the opportunities, designed suitable offers, reviewed the contracts, wrote the board proposals, and coordinated the integration of the acquired companies. Combined annual revenue of these acquisitions exceeded $67MM.
Team selling processes were streamlined and two new sales channels were introduced to the region. When these initiatives were combined with the new acquisitions, regional sales increased from $202MM to $209MM.
Tom was the first regional president to conduct formal sales and management training at a group level. In addition, he spent an inordinate amount of time individually coaching, mentoring, and training promising young managers. Seven of these employees went on to become presidents of Diamond Industries affiliated companies.
Diamond Industries APG management wanted to construct a new prototype manufacturing plant. Tom was integrally involved in the site selection, design, construction management, and startup of the facility. He employed new methods to reduce costs and save time on the critical path schedule. The state of Tennessee was successfully solicited to fund staff training costs. This plant was generally regarded as the most successful start-up in APG history.
After three years, the APG South region grew to nine companies, $240MM in revenue and 1,000 employees in twenty-seven locations. Group EBIT was at $19.2MM with a RONA of 20.2%.
In 2001, Tom was promoted to Regional President, Diamond Industries APG West. He directed all aspects of the largest APG region with ten diverse manufacturing and distribution companies, $280MM in revenue and 1,400 employees in thirty-five facilities. Regional building products included masonry, architectural stone, bricks, ornamental precast, roof tile, ready-mix concrete, patio and landscaping products, retaining walls, bagged stone, and concrete mixes. In a post 9/11 environment, Tom’s emphasis shifted to controlling cost to maintaining profitability in a declining market.
Administrative operations were consolidated to eliminate $2.0MM of redundant overhead.
Lean manufacturing techniques were utilized to increase production and lower unit costs. Manufacturing operations were filmed, broken down, and analyzed. Root causes of machine downtime were rigorously scrutinized. Machine set-up procedures, yard layout, and product staging were also examined. Innovative process improvements were adopted that lowered operating cost by $5.0MM and increased throughput by 8%.
Tom spent a considerable amount of time directing the turnaround of three APG West operating companies: Kevtile, Celsus Pre-Mix, and KCI Manufacturing.
Kevtile -Refocused product strategy and consolidated dealer operations, upgraded sales team, improved plant efficiencies, and eliminated production variance. Took operations from breakeven to $1.9MM profit in one year, $3.4MM in two years.
Celsus Pre-Mix - Improved production efficiency, lowered unit cost, added new product, and expanded distribution. Improved EBIT from $490k to $1.8MM in one year.
KCI Manufacturing -Outsourced truck fabrication, reduced inventory, consolidated operations, and improved preventive maintenance. Boosted EBIT from $370k to $2.0MM in one year.
Like APG South, many of the programs started at Pontiac Aggregates were rolled out to all APG West companies. New safety initiatives rolled out in the West cut historical accident rates in half.
As a result of leadership training successes in APG South, the Diamond Industries APG corporate group developed its own in-house training program. Tom helped to put together many of the training modules. He also taught courses on leadership, recruiting, staff development, and training.
Regional EBIT improved by $5.0MM despite a 2% post 9/11 decline in sales. RONA for the group increased from 10.1% to 16.2%, the largest incremental increase in the six-region architectural products group.
Reason for Leaving
At Diamond Industries, Inc., Tom enjoyed unprecedented success and was promoted three times in eight years. He was responsible for turning around several companies. Eventually, he managed the group’s largest region comprised of twelve companies operating out of forty facilities.
In 2000, new management was installed and the culture of the Architectural Products Group changed significantly. Most of the prior administration ended up moving on. By 2003, Tom was the fifth of six regional presidents to leave. After his departure, he was retained as a consultant to assist Diamond Industries APG with acquisitions and several special projects.
Lynx Building Group ($216MM - revenue)
Dallas, TX - 2003 to 2006
Title(s): Vice President, Corporate Development - 2003
President, Southwest Division - 2003 to 2006
Lynx Building Group is a privately-owned real estate developer and national homebuilder based in Chicago. The company operates in Illinois, Wisconsin, Ohio, Florida, Texas, and Arizona. Tom was hired to lead corporate development and was subsequently promoted to Southwest Division President.
The challenge was to rebuild the management team and turn around operations in a very competitive market. Tom restructured the sales team, launched new product, and added joint ventures, thereby improving sales by 78%. He closed under-performing locations, sold excess assets, and reduced inventory by 8.3%. Purchasing and production were streamlined, thus lowering Cost of Goods Sold (COGS) by 3.7%. At the same time, Selling, General, and Administrative Expenses, (SG&A) was reduced by 12.6%. The combination of these efforts improved EBIT by $3.0MM in two years.
Reason for Leaving
With the start of an industry-wide downturn, Lynx Building Group consolidated its operations under family members. The Texas operations were combined with operations in Florida under the leadership of the CEO’s younger brother. The Division President position in Texas was eliminated in the consolidation.
Excalibur Homes ($116MM - revenue)
Dallas, TX - 2006 to 2008
Title: President, Texas Division - 2006 to 2008
Excalibur Homes is a privately owned real estate developer and national homebuilder based in Memphis, TN. The company operated in Georgia, Tennessee, and Texas. Tom was recruited by the Board of Directors to create a new Texas-based, high-end homebuilding division. The competitive market in Dallas and the industry downturn combined to present a huge challenge.
This was Tom’s first true start-up company and he relished the freedom to create a new, ideal organization. He formed a legal operating entity, acquired attractive land positions, established an effective management team, developed a new attention-grabbing product line, value-engineered a cost effective product, created compelling marketing materials, and built trial product under-budget and ahead of schedule.
In preparing the division’s strategic plan, Tom developed an interactive financial model to project a five year income statement, balance sheet, and cash flow forecast. This model was subsequently adopted by the corporate parent organization.
Tom was very involved with the sales and marketing of the new product line. He hired and directed the sales staff, prepared competitive analysis, developed marketing materials, coordinated realtor functions, and assisted with the overhaul of the corporate website.
A cash crisis at the corporate parent made it difficult to fund local payables. Consequently, mechanics’ liens prevented sales from closing.
Reason for Leaving
The parent company was caught with too much inventory in Tennessee and Georgia. Working capital requirements and the debt burden generated a cash crisis. Management in Georgia was unable to negotiate an acceptable settlement with its creditors and national operations were suspended.
Longhorn Banking Corporation ($2.0 billion - assets)
Dallas, TX - 2008 to Present
Title: Team Leader, Loan Acquisition
Group - 2008 to Present
Longhorn Banking Corporation is a Texas-based bank founded by billionaire Arthur Ewing and headquartered in Dallas, Texas. Through its Loan Acquisition Corporation (a Longhorn Banking affiliate) the bank buys individual loans and loan portfolios from different sellers including the Federal Deposit Insurance Company (FDIC), the Small Business Administration (SBA), and numerous private sellers. In the last few months, Longhorn Banking Corporation has purchased over $750MM of loans from failed banks.
Tom was contacted to consult on issues concerning residential construction. This quickly transitioned into a position as an acquisition Team Leader. Tom currently directs a team of securities and loan analysts who devote 100% of their time to analyzing potential transactions. All transactions are reviewed in detail including validating loan documents and other agreements, considering market factors and business viability, determining lien position, evaluating collateral, and assessing guarantees. Tom and his team present all prospective deals directly to Arthur Ewing.
This experience is challenging and a tremendous growth opportunity. It allows Tom to evaluate many different business models from a variety of industries. In addition, it provides an in-depth exposure to the financing side of the business. He now has a better appreciation of the banker’s perspective.
Family
Tom met his wife, Mary, at The University of Texas graduate school of business. After completing their degrees, they married in June 1984.
Mary graduated from Notre Dame University with a Bachelor of Science in Speech. Before attending graduate school, she worked as a Marketing Representative for CXL (computer software), and Sheraton Corporation. At The University of Texas, Mary earned an MBA in Finance. Mary enjoyed a long and successful banking career in the Wells Fargo organization. She retired as a Trust Officer in 1999.
Tom and his wife have been married for twenty-three years and have two sons and a daughter. Their daughter, Alexandra, is a senior finance major in The University of Texas. Their older son, Howard, will graduate from Fort Worth Senior High School in June of 2009. He will attend Texas A&M University and plans to major in management information systems. Their younger son, Erik, is ten years old and will be a fifth grade student in the fall.
Associations, Personal, and Leisure Time Activities
Tom is a member of the national, state, and local Homebuilder’s Association. He served for several years on the Development Board for the Duke School of Architecture. He is also a past Vice President of ESCSI (national industry association for lightweight aggregate producers).
His leisure time is spent attending athletic events (including helping with his son’s baseball team), taking part in a men’s basketball league, chess, and participating in family activities.
CONFIDENTIAL RESUME (Still Employed)TOM FREDERICK1341Langham PlaceFort Worth, TX 76110(682) 444-3030tfrederick@yahoo.com
Chief Executive OfficerAccomplished in driving revenues, growth, and profit improvement
Career Highlights
Doubled sales from $102MM to $209MM in three years through development of new channels, strategic growth initiatives and successful merger integration.
Reduced operating costs by $5.0MM via consolidation and innovative process improvements.
Identified, evaluated, and acquired six companies with
$155MM in combined revenue.
Successfully turned around an under-performing home-builder and four distressed manufacturing companies.
Recruited, coached, and mentored seven employees who became Presidents of affiliated companies.
Professional Experience
Longhorn Banking Corporation, Dallas, TX
$2.0 billion (assets) privately owned bank. Longhorn Bank acquires individual loans and loan portfolios from different sellers including the FDIC, the Small Business Administration (SBA), and numerous private sellers.
Team Leader, Loan Acquisition Corporation, Dallas, TX
Recruited to consult on issues concerning residential construction; promoted to acquisition Team Leader. Directs a team of securities and loan analysts who devote 100% of their time to analyzing potential acquisitions. Transaction analysis includes validating loan documents and other agreements, assessing market factors and business viability, determining lien position, and evaluating collateral and guarantees. All prospective deals are presented directly to Andy Beal, owner and President of Longhorn Bank. In six months, Longhorn Bank has purchased over $750MM of loans from failed banks.
Excalibur Homes, Memphis, TN - 2006 to 2008
$116MM privately owned real estate developer and national homebuilder.
President, EH Group Texas LLC, Dallas, TX
Recruited by directors to start up a new Texas-based high-end homebuilding division. Directed all aspects of operations including corporate formation, land acquisition, staff retention, product development, and management of purchasing, construction, sales, and marketing.
Reason for Leaving
The parent company was subject to too much inventory and not enough cash, and creditors forced operations to be suspended.
Lynx Building Group, Dallas, TX - 2003 to 2006
$216MM privately owned real estate developer and national homebuilder based in Chicago, IL. The company operates in Illinois, Wisconsin, Ohio, Florida, Texas, and Arizona. Tom was hired to lead corporate development and was subsequently promoted to Southwest Division President.
Vice President, Corporate Development - 2003
President, Southwest Division - 2003 to 2006
Responsible for rebuilding the management team and turning around the operations of a newly acquired division. Improved EBIT by $3.0MM over two years.
Restructured sales team, launched new products and added joint ventures improving sales by 78% to $47MM.
Closed under-performing locations, sold excess assets, and reduced inventory by 8.3%.
Streamlined purchasing and production lowering COGS by 3.7%, reduced SG&A by 12.6%.
Reason for Leaving
With the start of an industry-wide downturn, Lynx Building Group consolidated its operations under family members. The Division President position in Texas was eliminated in the consolidation.
Heavy Construction Categories (public limited company) (HCC plc.) / Diamond Industries, Inc., Architectural Products Group (APG) - 1995 to 2003
HCR plc. is a publicly traded Glasgow, Scotland based international leader in the construction materials industry with $10B in annual revenues. Diamond Industries is a U.S. holding company with $3B in revenues, the largest manufacturer of building materials and architectural products in North America. Domestic operations are based in Atlanta, GA.
President, Diamond Industries APG West Region Dallas, TX - 2001 to 2003
Directed the largest APG region with ten diverse manufacturing and distribution companies, $280MM revenue and 1,350 employees in thirty-five facilities.
Improved EBIT by $6.0MM (27%) despite a 2% post 9/11 decline in sales.
Boosted RONA from 14.1% to 18.2%; best performance of six-region architectural products group.
Consolidated operations to eliminate $2.0MM of redundant overhead.
Lowered operating costs by an additional $6.4MM and increased production by 10% through innovative process improvement initiatives.
Cut accident rates in half; best performance in the architectural products group.
Executed a restructuring and revitalization program for a $40MM roof tile manufacturer with 240 employees.
Improved from breakeven to a $1.9MM profit in one year; $3.4MM profit in two years.
Formulated and taught leadership courses on recruiting, skills development and coaching.
President, APG South Region Atlanta, GA - 1998 to 2001
Created and led a new APG region with six manufacturing and distribution companies, $102MM revenue and 1,000 employees in twenty-four locations.
Established and upheld the best safety record in Diamond Industries APG.
Almost doubled regional sales from $132MM to $250MM while maintaining a RONA over 20%.
Led the acquisition and integration of three manufacturing companies.
Directed the design, construction management, and start-up of a new plant; considered the most successful start-up in APG history.
Combined annual revenue of acquisitions exceeded $67 million.
Designed and implemented capital effectiveness programs.
Recruited and developed seven employees who became Presidents with affiliated companies.
President, Pontiac Aggregates Atlanta, GA - 1996 to 1998
Assumed leadership of a distressed $32MM, 140 employee lightweight aggregate manufacturing company.
Orchestrated a dramatic three-year turnaround.
Improved EBIT from $3.9MM to +$6.4MM; RONA from -12.9% to +22.3%.
Expanded product line, added new channels and improved distribution resulting in $16MM in sales, or 62% increase resulting in national product leadership.
Increased output by 25% and lowered unit cost from $17.01 to $13.16.
Established record production of four years without a lost time accident .
Rated first in safety among forty-six other Heavy Construction Categories (HCC plc.) companies, groups, and divisions.
Vice President, Development, Diamond Industries, APG Atlanta, GA - 1995 to 1996
Coordinated corporate development for a $220MM product group including acquisitions, strategic planning, and special projects.
Identified, evaluated, and acquired three manufacturing companies; actual results substantially exceeded board criterion.
Developed and executed plans to construct four Greenfield plants; each came in on time and under budget.
D.W. Alexander Dallas, TX - 1984 to 1995
Leading management consulting and financial advisory firm based in New York, NY with U.S. revenues of $9.9 billion. Management consultants to top organizational leadership on issues of strategy, organization, and operation.
Senior Manager, D.W. Alexander ConsultingDallas, TX - 1990 to 1995Title(s): Manager - 1987 to 1990Senior Consultant - 1986 to 1987Associate Consultant - 1984 to 1986
Directed client teams of up to forty-five professionals.
Analyzed complex business issues, applied quantitative methods to diagnose problems, and identified and implemented specific solutions.
Led business reorganization teams to improve marketing and sales, product mix, cost controls, cash management, financing, compensation systems, and asset deployment; representative engagements included Hale Corporation, Wethersfield Communities, Universal Homes, John Deere, Dallas Fort Worth Bank, Silicon Valley Bank, and Third Republic Bank.
Identified cost savings and productivity enhancements in supply, distribution, marketing, customer service, finance, work force management and support services; documented $13 million annual cost savings for a $900 million utility in a typical engagement.
Assessed economic viability of three multi-billion dollar projects.
Developed, recruited, trained, counseled, and administered the Dallas Business Analyst Program; coordinated the firm’s national recruiting efforts at three major universities.
McGregor International, Inc. Houston, TX1980 to 1982
McGregor International is a $6.6 billion in revenue market leader and worldwide provider of engineering, construction, and project management services to offshore oil and gas developments.
Structural Design Engineer, Houston, TX1980 to 1981
Tom was hired as a Structural Design Engineer in McGregor’s Houston office. Initial projects included the design of a compressor station, flair boom tower, deck extensions, and jackets for offshore platforms. He was a lead engineer on a unique jacket replacement for a storm-damaged structure.
Field Engineer, New Orleans, LA - 1981 to 1982
In 1981, Tom was selected from a pool of over twenty candidates for a one year reassignment to McGregor’s New Orleans office. In his new capacity as a Field Engineer, Tom supervised offshore construction and subsea pipeline installations. He was second in command of construction barges with crews ranging from 200 to 350 men. Tom loved to make things happen in day-to-day field operations.
Education
MBA, FinanceUniversity of Chicago, 1984
BS, cum laude, Civil EngineeringUniversity of Texas, 1980
Elected to Tau Beta Pi, Chi Epsilon, and Phi Eta Sigma honoraries.
From: Tom Frederick, tfrederick@yahoo.com Sent: Sunday, May 03, 2009 9:49 PM To: S982@gilreathsearch.com Subject: - Title: Investor President & CEO, Dallas, Texas
Dear Mr. Gilreath:
As a company and regional President with Diamond Industries APG Architectural Products, I led the growth and profit improvement initiatives for many mid-sized architectural product companies. I am a Civil (Structural) Engineer with an MBA, and I am based in Dallas.
Implementing innovative process improvements, expanding sales, turning around under-performing companies, and acquiring and successfully integrating complementary businesses are ways I add value. Successes include:
Doubled building product sales from $132MM to $250MM in three years through new channel development, strategic growth initiatives, and successful merger integration.
Reduced operating cost by $8.4MM via consolidation, Lean Manufacturing principles and process modifications.
Identified, evaluated, and acquired six building product manufacturing companies with $155MM in combined revenue.
Successfully turned around a troubled homebuilder and four distressed building product manufacturing companies.
Recruited, coached, and mentored seven employees who became Presidents of affiliated companies.
Please give me a call to discuss how my team-focused approach and commitment to excellence can add value to your private equity client’s architectural product manufacturing and distribution operation.
Sincerely,
Tom Frederick
Example of a Skin in the Game Job Search Update Email
I have another cover letter example from a skin in the game CEO prospect who is updating me on what he is qualified for and would consider. This type of cover letter update and cut to the chase resume could be used to keep in touch with PEGs you have met or have encouraged you to stay in touch. To me, it’s short, sweet, and effective:
Hello Jim,
How are you? It has been a while since we last spoke and I am reaching out with two short updates.
I am now considering a short term CEO role with an online media company. I am most interested in a full time C-Suite role and wish to stay on your radar. Below the signature block is my short updated profile. My goal is to have an ongoing leadership role for a media company in the content, licensing, or technology sectors. I would be delighted to learn about your current activity and where my network might be useful to you.
Please let me know what the news is in your world. What is a good time for a short catch-up call?
Warm regards,
Arthur
941- 339-0878
http://www.linkedin.com/Arthur
Company Goals Where I Can Lead
Scaling a company onto a growth trajectory
Raising investment capital
Business development and strategic relationships
Roles Desired
CEO, Executive, or Board role at media, licensing, content, or technology company
Executive role at a consumer or B2B media services company
Core Skills
Creative deal maker for all levels corporate growth and expansion Leadership at operating and governance levels, public and private Capital sourcing from extensive network of private equity and VC investors Growing revenue and business development Turnaround success at Century Comics and Dorrance Greeting Cards Executive roles in finance, sales, and operations at emerging growth
Leadership and Experience
Chairman, Malito - software game producer and distributor Operating Partner, Magnum Capital - VC fund investing in media and software President and CEO, AG Media Ventures - VC growth and investment advisor President, DC Comics - raised capital for growth President and CEO, Millenium Resources - B2B services software provider EVP and CFO, Hallendorf Enterprises - $51MM cash flow improvement VP and MD, Tolland Entertainment - worldwide deal maker and business development VP and GM, Discovery Cable - broadband cable franchising and business scaling
Education
MBA, Beta Gamma Sigma Honors in Finance, Harvard University Masters, International Fellow, Columbia University Bachelor of Arts, Phi Beta Kappa, Russian Language & Literature, Stanford University
Below are the confidential Indiana Jones Bio (IJ), resume, and cover letter exhibits of Ed Garvin, CFO, hired as SITG CFO of MA based Service Industry Machinery Designer and Manufacturer.
N.B. All names of candidates, companies and locations have been changed for confidentiality purposes. Any similarity of fictional names used to actual names of persons, employers and locales is purely coincidental.
Early Background
Ed was born and raised in Waterford, CT. His father (Ernie Garvin) was a nuclear submariner in the Navy until he retired as a Chief Electrician when Ed was in the ninth grade. His father went to work for the Electric Boat Division of General Dynamics after his retirement from the Navy. He commuted to western Pennsylvania and returned home every other weekend throughout Ed’s high school years. Ed’s mother stayed at home and raised her four children.
Ed was the oldest of the four. His brother, Maurice, earned his BA degree from Harvard University and his JD from UCONN, and is an attorney for the State of Rhode Island. His sister Millie graduated from The University of Bridgeport with a degree in Computer Science. She is the mother of four children and handles the accounting for her husband’s IT consulting company, Cloud Systems LLC, based in New Haven, CT. Ed’s youngest sister, Carrie, graduated from Yale University with a Bachelor’s degree in Communications and received her Master’s degree in Education from Bucknell University. She is the head women’s basketball coach at Lehigh University.
Ed has always enjoyed sports and competition and earned a Varsity letter three times each in football and baseball during high school. He was elected captain and was All Conference for each sport during his senior year. His other activities during high school included Yearbook Editor, Boy’s State Delegate, National Honor Society, Senior Class Officer, and Altar Server.
He purchased a paper route in the fifth grade and has held some position of employment every year since. Ed graduated in the top 10% of his high school class of 450 students and was awarded the Citizenship Award, among other awards. Ed grew his paper route from fifty papers to 250 papers by the time he sold it in the eighth grade. His high school jobs included self-employment (painting, landscaping, snow removal, and delivery for a florist). He also had a maintenance job for an apartment complex, he umpired, and he interned at IBM in Endicott, NY during his college summers.
Ed went back to Waterford after his college graduation in May 1983 until his General Electric Corporation (GE) position began in December 1983. During that time, he worked for the highway department, taught as a substitute teacher for the junior high and senior high school, and coached football at Waterford High School. At an early age, Ed assumed a lot of responsibility at home with his dad being out to sea and then later commuting to Pennsylvania. As a result, Ed matured quite early and was well prepared for life after high school.
Secondary Education and Other Training
Ed was recruited to play football and baseball by several schools including the Naval Academy, Coast Guard Academy, Union College, Trinity College, and Worcester Polytechnic Institute (WPI). He chose Harvard University, recognizing the advantages it had to offer. His research indicated that the combination of an undergraduate engineering degree with an MBA to follow might be most desirable and a practical use of his quantitative aptitude.
Ed graduated with honors and a B.S. in Business Management and Marketing. His GPA was 3.6 for the four years. Ed financed 90–95% of his education through scholarships, on-campus work-study, and summer employment. In addition to maintaining work-study positions all eight semesters, he participated in the Big Brother program, played baseball freshman year, and football the two years thereafter. He would have played football during his senior year but he had sudden surgery for a hernia during August and elected to not play football and concentrate on his job search.
Ed earned his MBA in 1996 from Columbia University. Other company training he has received includes: GE Financial Management Program (FMP), Effective Presentation, Developing Managerial Effectiveness, New Manager Development Course, Advanced Financial Management Course, Volvo Trucks Total Quality Transformation, Looking Glass Experience, American Flooring Industries, Six Sigma Greenbelt, and Six Sigma Champions Training.
Professional Work History
Ed was recruited by GE for the Financial Management Program (FMP) through the Harvard Career Center and was offered a position to start in December 1983. He targeted GE’s training program because he felt the combination of the rotational work assignments and after-hours course instruction would be a great broad and rigorous introduction to the world of business. He also liked the fact that financial managers were trained to become general managers.
FMP Trainee in GE Turbine Division - 1983 to 1986
For the first two years, Ed was in Lynn, MA with the Medium Steam Business and the third year at the Turbine Division in Schenectady, NY. This was followed by six-month rotational assignments through General Accounting (Accounts Payable), Manufacturing Finance, Business Unit Financial Planning and Analysis, and Cost Accounting.
