Your InterimCEO/interimCFO Box
RICHARD HETTLER CPA,MBA
Box 386225
Minneapolis, Minnesota 55438
Office: 952 948-9049, Cell: 612 285-8458
mspexec@gmail.com
EXPERIENCE Candidate Richard Hettler ["candidate Hettler”] founded management services provider Security Financial Group, Inc [SFG] upon candidate Hettler’s departure from public accounting and said practice, since its inception, has predominantly focused on finance, accounting, and corporate trouble shooting initiatives. With the advent of Sarbanes Oxley in 2002, SFG added SOX to its service mix, and since 2002, successfully completed 1,700 such SOX audits outsourced to SFG by Big 4 members. By 2007, candidate Hettler had become recognized as a world-wide expert in corporate compliance and SOX and XBRL initiatives. Candidate Hettler recruited and trained over 100 staff specialists in SOX audit procedures and such audits were heavily concentrated on internal control and SOX Section 404 compliance, all involving extensive SEC reporting. SFG’s predominant mix of consulting engagements has focused on merger/acquisitions, LBOs, IPOs, business valuation, and a host of interim executive assignments; that is, controllerships, VP/Director assignments in finance, accounting, audit, etc, CFO, and CEO for both publicly and privately held corporations. This writing conveys so much more than a traditional résumé would by describing not only the credentials and accomplishments of candidate Hettler but more importantly how Mr. Hettler adds value to any client or partnered alliance. Resume follows.
Security Financial Group, Inc [SFG, Inc] – Denver, Colorado and Minneapolis, Minnesota 1978 - 4/15/08 Chairman, CEO, Chief Strategist and Corporate Trouble Shooter. Founded the firm in 1978 and led this practice into a global provider of public accounting and business consulting services Firm accepts outsourced consulting work from Price Waterhouse Coopers, Ernst and Young, KPMG, Deloitte & Touche and top tiered CPA firms including, but not limited to, RSM McGladrey, Grant Thornton and Virchow Krause. Recruited, trained, and deployed over 100 professional staff members world-wide
Developed multiple markets in corporate trouble shooting and Sarbanes Oxley initiatives. Responsible for planning and implementation of tactical marketing programs. Successfully completed over 1,700 Sarbanes Oxley engagements worldwide with heavy emphasis on Section 404 internal control and more recently [May, 2008] implementation of SEC soon to be mandated XBRL and IFRS initiatives. As to SOX, XBRL, and IFRS initiatives, the firm works with external auditors in doing all of the necessary SEC reporting and form submissions
Each engagement began with assessing readiness, project requirements and deploying the appropriate SFG, Inc. team members, coordinating client’s internal auditors, setting the milestones required to meet fiscal year end completions, and executing the audit according to such prescribed milestones Accepted Interim Controller and CFO assignments at both US domestic and foreign subsidiary locations. Worked in concert with C-level executives achieving common objectives; that is, to improve manufacturing and distribution efficiencies in terms of cost control and cost management, to support a fully integrated supply chain, to increase data accuracy, and to reduce paperwork and overall ongoing dependence on manually maintained systems, all accomplished by working in close harmony with client IT staff using multiple enterprise resource management (ERP) platforms, including SAP.
Price Waterhouse Coopers [PWC] – Denver 1973-1978 Director, Management Consulting Services. Managed and directed, with P&L responsibility, a large staff of consultants nationwide and globally. Transformed the firm’s US domestic practice into a global practice. Reported to PWC’s Managing Partner in New York.
Adjunct Laureate Professor at various universities in the Twin Cities for the past seven years teaching upper division, MBA candidates, and Corporate Executives: corporate finance, SOX, XBRL, US GAAP-IFRS transition considerations, federal tax, the Becker CPA Review curricula, cost, managerial, and advanced accounting, plus strategic management policies and methodologies, all in both live and online settings. Developed and facilitated, at Boston University, a self-authored 15 semester hour curriculum designed to allow Corporate Executives to achieve and maintain competencies in risk management, corporate compliance, and Sarbanes Oxley initiatives. Since, 2005, candidate has been lecturing corporate executives worldwide in SOX, XBRL, and IFRS.
CORE COMPETENCIES Project Talents in Accounting, Finance and Operations/Mergers & Acquisitions, Start-Ups and Market Expansions/Strategic Alliances, Negotiations and Contracts/Extensive SEC Regulatory Experience/Corporate Governance-Sarbanes-Oxley [SOX]–expert Sarbanes credential/Strategic Planning and Corporate Trouble Shooting/Supply Chain Management (SCM),/Warehouse Management Systems(WMS)/Corporate/Compliance Risk Management audit experience/SEC reporting with a commanding knowledge FAS, GAAP, XBRL, IFRS, derivatives.,etc, and lastly COSO and COBIT (within the context of conducting corporate audits, developing and executing a comprehensive plan under Sarbanes Oxley to make and keep clients compliant)/Expert proficiencies in Microsoft Word, Excel, PowerPoint, Access, numerous ERP systems, SAP, and COGNOS
EDUCATION Denver University, Executive MBA - Finance and Accounting [magna cum laude]
Colorado University, BA - Mathematics
MEMBERSHIPS Turnaround Management Association/ National Association of Corporate Directors/ Association for Corporate Growth Twin Cities Chapter of Financial Executives International [FEI/FENG network]/ National Association of Real Estate Investment Trusts
NOTABLE M&A ENGAGEMENTS
For 3M, led an acquisition of two manufacturing firms, one in Singapore, and the other in Taipei, Taiwan leading to an all cash acquisition of Pacific Rim manufacturers by 3M corporate. This enabled 3M to meet its robust revenue projections for 3M Singapore at lower than normal earlier anticipated costs of operation.
For Sony Corporation, arranged an acquisition then between CBS Records and Columbia Pictures and to work in conjunction with PWC- Tokyo [Sony's auditors] and with lender Hong Kong Bank for this combined $3.4 billion acquisition. Post-acquisition, such acquired entities were merged into Sony Music Entertainment, Inc and Sony Pictures Entertainment, Inc.
For a Chicago-based distributor of Nike Athletic Shoes, engaged as interim CFO and turnaround expert to locate additional manufacturing outlets for the company and ran the numbers to increase manufacturing to a level that would translate to a steady state $200 million in revenue, up from $100 million. Arranged for a $50 million line of credit through a New York private equity [PE] firm to acquire control over of two (2) manufacturing facilities, one in Taipei and one in Singapore. Once production was underway, the company's revenue essentially doubled to $200 million within a 3-4 year timeframe and of the incremental $100 million in revenue, $40 million of it went to the bottom line.
These and other M&A engagements turned out to be a major success for candidate Hettler and his clients and further solidified Hettler’s reputation as a corporate trouble shooter and turnaround specialist. It also perfected his keen awareness of how to locate acquisition or merger/acquisition candidates to grow clients of his, both organically as well as by and through outside capital providers.
OTHER NOTABLE ACHIEVEMENTS Received exemplary commendation from Maxwell Technology’s Chairman for SFG’s concerted efforts in completing the company’s December 31, 2004 SOX audit in Zurich, Switzerland under extraordinary time and distance constraints. Selected by Governor Richard Lamm [Colorado] and Price Waterhouse Coopers [PWC-Denver] to participate in a mission to Taiwan- Republic of China In this first 1986 mission to the Pacific Rim, candidate Hettler and his firm were selected to accompany PWC-Denver to Taipei, Taiwan, with stopovers in Tokyo and Hong Kong to work with private sector clients who sought to achieve US citizenship and to locate and capitalize US domiciled business opportunities. Such meetings were orchestrated cooperatively by PWC-Denver and PWC-Taipei.
Approached by Governor Victor Atiyeh [Oregon] and Price Waterhouse Coopers [PWC-Taipei] to return to Taiwan- Republic of China This second 1995 mission to Taiwan, ROC was upon invitation by Oregon Governor Victor Atiyeh [1979-1987] this time to work on behalf of the public sector, with the assistance of Governor Atiyeh's long-term friend and Cornell fraternity brother, Lee Teng Hui, then the sitting President of Taiwan. In this second visit to Taiwan, upon a directive from President Lee, candidate Hettler and Governor Atiyeh met with President Lee’s cabinet member Treasury Secretary Mutsai Chen to discuss the country's $100+ billion investment portfolio which in 1995, contained $20 billion in low yielding US T-Bills. Because the country’s portfolio was heavily weighted in such low yielding instruments, candidate Hettler, in conjunction with Deutsche Morgen Grenfell, structured a new and higher yielding yet risk managed portfolio to the satisfaction of Secretary Chen, which increased portfolio yield by an average of 150 basis points.
For Avon Cosmetics, led a top down review of Avon's London based operation which served Western Europe via Avon’s UK based supply chains which had largely become obsoleted. Identified opportunities to save the company $75-$100 million in a first year global roll out of a RFID [Radio Frequency Identification] enabled WMS supply chain solution. Recommendations led to an increase in its Return on Assets [ROA] of 16% through increase in sales, reduction in inventory costs and working capital, all of which yielded to increases in net income and reduction in the company's invested capital.
CLIENT LIST 3M / Allianz Life /American Crystal Sugar /AT&T /Avon Cosmetics /Baxter Labs/ Best Buy/ Burlington Northern Railroad / CDC / Citibank /Cray Research / Credit Suisse /Deutsche Bank /Dillard’s /Fannie Mae / GE Capital/ General Mills/General Motors/Goldman Sachs & Co/GTE Media Ventures/ IBM/ ITT Corporation /Ingersoll Rand/Johns-Manville/ Lexington Broadcast Systems / Marks & Spencer, UK / Maxwell Technologies / Medtronic / Met Life/Microsemi Corporation / NBC International / Pillsbury /RMS Enterprises / Siemens /Sony Corporation / Sprint-Nextel / Sunbow Productions / Supervalu / Taiwan-Republic of China/Tyco / Universal Worldwide / US Department of Defense / US West / Wal-Mart
