Duane has identified over $15 million in profit improvements, negotiated debt financings of $3 million to $110 million, evaluated several acquisitions, and improved management reporting as CFO of several family and private equity-backed entrepreneurial companies. He enjoys freelancing as it provides an opportunity to be involved with a variety of situations, allowing him to leverage his knowledge to help businesses be more successful.
Analyzed real estate site selection strategies and recommended changes to improve the probability of success.
Drove change from ADP to Ceridian payroll and human resources systems, providing much better visibility into workforce utilization.
Converted the company from an S corp to C corp to avoid double taxation of income. It was projected to save owners $7 million.
Delivered $100,000 of expense savings in banking, insurance, and telecommunication costs.
Directed the company's first external audit with BDO.
Shortened the financial close to three days after the month end.
Focus areas: Financial Planning & Analysis (FP&A), Budgeting, Accounting, Income Tax, Real Estate Site Selection
SVP Finance (Functionally as the CFO)
2007 - 2013
Negotiated a $50 million bank line of credit facility as well as various fixed asset and mortgage financing, as needed.
Implemented a new POS system and data analytics tools to provide more insight into customer behavior.
Drove IT infrastructure improvements, including a SAN and improved connectivity, to better support growth plans.
Led and oversaw the performance of the accounting, IT, HR, and purchasing departments.
Provided a financial perspective to operating departments through an ongoing dialog.
Implemented cost reductions of over $250,000 in telecommunications, supplies, fixed assets, banking, and operating systems.
Evaluated two companies for possible acquisitions; recommended passing on both companies.
Collaborated with the operating departments, providing a financial perspective on their decisions.
Focus areas: Cash Management, Financial Planning & Analysis (FP&A), IT, Human Resources (HR), Purchasing, Real Estate Site Selection, Real Estate, Finance for Real Estate, Accounting for Real Estate, Finance, Accounting
VP of Finance
2002 - 2006
Rebuilt finance and accounting teams to better support company growth.
Successfully implemented Sarbanes-Oxley.
Actively involved with the board in general and with the audit and compensation committees in particular.
Executed secondary public offering for $50 million.
Negotiated a bank line of credit to support company growth.
Developed financial models of new business opportunities to extend the Coldwater Creek brand.
Focus areas: Financial Planning & Analysis (FP&A), Accounting, SEC Financial Reporting, Board Presentations, Sarbanes-Oxley, Evaluation of New Business Opportunities
VP of Finance
1992 - 2002
Executed a leveraged buyout to allow the founder to cash out, then went public again 16 months later.
Raised $250 million through an IPO and a secondary offering.
Worked closely with the board on financial reporting matters, including a restatement of previously issued financial statements.
Led a cross-functional team to help drive supply chains needed to support store growth.
Handled daily cash management, critically important due to the seasonality of the business model.
Negotiated the bank lines of credit, up to $110 million at the peak.
Introduced the concept of return on assets to encourage better focus on invested capital.
Focus areas: Accounting, Financial Planning & Analysis (FP&A), Cash Management, SEC Reports, System Changes, Process Changes
Master of Business Administration (MBA) degree in Accounting