toptal.com
Contact us: +1.888.604.3188
Duane Huesers, Finance Expert in Broomfield, CO, United States
Duane Huesers

Finance Expert in Broomfield, CO, United States

Member since November 21, 2019
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.
Duane is now available for hire
Hire Duane

Career Highlights

Education

Select Certifications

Case studies

Industry Expertise

  • Retail & Wholesale

Other Expertise

Employment

  • Financial Advisor

    2017 - PRESENT
    Financial Business Advising
    • Stepped in as an interim CFO for six months at Forman Mills, a PE-sponsored company.
    • Built a financial model for an evaluation of a potential acquisition of $350 million in expected revenue.
    • Provided bankruptcy support for liquidating company with $400 million in revenue.
    • Developed a financial model to provide support for a bank refinancing.
    • Identified and built a case for expense reduction opportunities. The annualized savings were approximately $5 million.
    Focus areas: Interim CFO, Accounting, Budgeting, Financial Planning & Analysis (FP&A)

  • Chief Financial Officer (CFO)

    2016 - 2017
    Hastings Entertainment
    • Built a financial model to drive the turnaround of a $400 million company—identifying an expense savings of $12 million.
    • Motivated and held staff accountable during a difficult time.
    • Managed the daily cash flow which was critical as sales deteriorated.
    • Worked closely with external attorneys and financial advisers to negotiate the bankruptcy process through courts (after the owner decided to not fund the turnaround attempt).
    • Provided leadership during the liquidation process.
    Focus areas: Bankruptcy & Insolvency, Bankruptcy, Turnaround Management

  • Chief Financial Officer (CFO)

    2013 - 2016
    United Fashions of Texas
    • 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: Real Estate, Income Tax, Accounting, Budgeting, Financial Planning & Analysis (FP&A)

  • SVP Finance (Functionally as the CFO)

    2007 - 2013
    National Stores
    • 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: Finance, Accounting, Real Estate, Purchasing, Human Resources (HR), IT, Financial Planning & Analysis (FP&A), Cash Management

  • VP of Finance

    2002 - 2006
    Coldwater Creek
    • 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: New Business Development, Sarbanes-Oxley, Board Presentations, Board of Directors, SEC Financial Reporting, Accounting, Financial Planning & Analysis (FP&A)

  • VP of Finance

    1992 - 2002
    Tuesday Morning
    • 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: Process Improvement, SEC Financial Reporting, Cash Management, Financial Planning & Analysis (FP&A), Accounting

Education

  • Master of Business Administration (MBA) degree in Accounting
    1978 - 1983
    University of Kansas - Lawrence, KS, USA
  • Bachelor's degree in Accounting
    1972 - 1977
    Washburn University - Topeka, KS, USA

Certifications

  • Colorado | Certified Public Accountant
    DECEMBER 2019 - NOVEMBER 2021
    Colorado Board of Accountancy
  • Texas | Certified Public Accountant
    SEPTEMBER 2019 - AUGUST 2020
    Texas State Board of Public Accountancy

To view more profiles

Join Toptal
Share it with others
Hire the top 3% of freelance finance experts TM