Game-changing turnaround specialist known for producing strong sustainable results, building winning teams, and creating new growth platforms for start-up, private equity, joint venture, or underperforming entities.
Senior leadership and C-suite executive with billion-dollar P&L global operations management experience. Possess a record of doubling joint venture equity in a company, achieving double-digit volume and revenue growth on specialized product lines, and creating and commercializing new product lines into multimillion-dollar lines of business.
Accomplished in turning around and transforming underperforming entities into growth businesses, analyzing and developing complex business models, and progressively raising the bar on team performance for Fortune 500 multinationals and subsidiaries. Repeatedly recruited to new opportunities by directly competing companies or former clients. Peer-reviewed and -recognized rockstar prized for fearless leadership, facility in communicating and engaging with diverse audiences, and the ability to drive revenue and profit with a strategically creative approach.
Extensive early career experience in marketing working directly with clients such as Procter & Gamble, ConAgra, Nestle, Anheuser-Busch, etc. prior to making intellectual leap into senior executive leadership positions building or fixing businesses and positioning them for growth or acquisition.
A recognized industry thought leader, primary DuPont Nutrition & Health spokesperson, and community builder, external leadership roles and board memberships currently include:
• Global Child Nutrition Foundation
• Grocery Manufacturers Association: Sit on Biotech Advisory Committee, Marketing Committee, and Sustainability Committee
• Chairman’s Advisory Council
• American Heart Association
• United Way
President, Protein Solutions @ Solae, LLC | DuPont Nutrition & Health
►Increased earnings while growing revenues during integration process.
Execute all protein identity and positioning, integrated marketing and public relations initiatives worldwide and P&L accountability for entire $1.2B operation (operations management of 9 manufacturing sites, R&D laboratories, sales & marketing offices in 10 countries, 9 direct reports, and all presentations to DuPont Board of Directors).
• Render executive and industry thought leadership as DuPont Nutrition & Health spokesperson dealing with Congressional and federal officials, leaders of economic industries, heads of governments, local country authorities, etc. Current example: Negotiating economic value with Chinese government for compensation to relocate and enlarge asset to achieve greater capacity. Maintain productivity despite 70% travel schedule.
• Doubled value of joint venture equity in company.
• Recognized 3 times in past 6 years with corporate sales and marketing excellence award. Honored along with team for results achieved within 60,000-person organization. From July 2012 to Present (3 years 4 months) St. Louis, MOVice President, Specialty Business @ ►Achieved double-digit volume and revenue growth of specialty business while increasing EBITDA over 4-year period.
Restructured business strategy, creating food-based growth platform for parent company. Led business team through a reframing of $100B marketplace, redefining competitive set and addressable market. Worked alongside R&D to regroup technical strategy; mapped technical capabilities against competitive products, identified open opportunities and matched with technical feasibility. Developed critical understanding of soy image in marketplace to determine marketing strategy on benefits of soy. Gained P&L accountability for specialty business while retaining all strategy, marketing, and sales accountabilities.
• Optimized asset footprint and reallocated resources.
• Generated new revenue and drove out costs by revamping R&D strategy and entire department. Focused on cost competitiveness by instituting a manufacturing technology/process R&D organization (in tandem with R&D and operational peers) to improve processes and create new technologies that improved product ingredient inclusion level from 15% to 50% market share.
• Conceived and drove creation of soy protein global image improvement program. Built nutrition science organization, designed marketing communications program, developed a series of strategic alliances, and triggered creation of soy trade organization. Industry impacts include increase in favorable soy media placements/mentions, decrease in negative mentions, and share point gain in addressable market. From May 2008 to June 2012 (4 years 2 months) St. Louis MOVice President, Strategy & Marketing @ ►Grew earnings following 3 years of declines, by driving value-in-use price, restructuring asset portfolio, and implementing a bifurcated business model.
Recruited by CEO to design a joint venture strategy and create performance for future sale. Built case for change, enlisted “institutional leaders” to convey critical information relevant to bifurcated business model advantages, and communicated benefits of change (financial performance, career development in new model, future vision, etc.) to employees.
• Transitioned underperforming business to top performer status within food ingredient industry and parent company, DuPont, and transformed performance of employees.
• Increased employee morale and passion for the business (as measured by employee spirit surveys). Nearly tripled variable compensation awards and slashed attrition rate from historical high.
• Improved customer service via better value delivery to unique customer needs (differential pricing management) and technical advancement and innovation for high-growth customers. From May 2007 to May 2008 (1 year 1 month) St. Louis, MOExecutive Director, Specialties Business Unit @ ►Restored specialties division to profitability within 12 months adding 10% in revenues and millions in earnings.
Improved retail returns on key product lines, reversing decline of BU. Promoted to P&L leadership role, managing all non-card lines (stationery, seasonal décor/ornaments, educational publishing, party goods, etc.). Immediately restructured all business components, led divestiture of 2 non-strategic lines, shifted from domestic to off-shore manufacturing and creative development, initiated business process redesign, and developed reality-based, data-driven growth strategies. Enlisted CEO champion to navigate politics of closely held entity.
• Increased profitability in year 2 and burnished “supporting role” luster of BU. Energized retail space productivity, regained customer confidence and esteem, and gained more footage for company at retail level, reversing a 5-year downward spiral.
• Tapped by CEO to manage critically important $1.3B Wal-Mart business account. From 2005 to 2007 (2 years) Executive Director, Business Development Division @ ►Developed new products that generated incremental revenues while expanding distribution into additional retail outlets and driving incremental household penetration of brand.
Recruited by competitor CEO to replicate Hallmark successes. Created business development division to identify new consumer platforms to drive profitable growth for company beset by a decade of flat revenues. Assembled and led 45-person, cross-functional team in creating highly sophisticated psychographics segmentation targeting program that identified new consumer targets for core greeting card business.
• Spurred increased card consumption for first time in 5 years. Led restructuring of corporate product development system, new marketing effort, and rollout of numerous new greeting card products.
• Consistently delivered increases in revenue. Built new business for company underpinned by a robust innovation and development process, created new channels/avenues for organization’s creative engine, and demonstrated ability of company to expand its competencies and capabilities beyond core greeting card component. From 2003 to 2005 (2 years) Vice President Marketing @ ►Created child accessories and novelty business generating $12MM sale price for private equity entity. Grew revenues and EBITDA for Hallmark Cards, Inc.
Recruited by private equity company to groom start-up for eventual sale or IPO. Instrumental in business plan creation and execution leading to acquisition by Hallmark within 24 months. Assumed senior general operations management role upon departure of primary equity stakeholder after acquisition. Drove integration of company into Hallmark corporate structure.
Additional senior-level management accomplishments:
• Introduced new line in 2001 and expanded it in 2002 to include a profitable custom program for the 3 top mass discounters.
• Slashed cost of product by reducing manufacturing expenses.
• Exceeded unit’s FY02 revenue plan and earnings plan. Expanded product line from 25 SKUs to 500+ profitable items in 2002. From May 1997 to November 2003 (6 years 7 months) Marketing Manager, Sunline Brands Division @ Recruited by Glennon client into Marketing Manager role accountable for candy business.
• Increased seasonal sales. Relaunched major seasonal SKUs with new line extensions, updated packaging graphics, new shapes and improved flavors.
• Beat revenue plan with introduction of new product lines. From 1996 to 1997 (1 year) Vice President & Team Leader @ Directed 15-member Client Team in charge of billings from Nestle’s Sunmark division and Anheuser-Busch’s Eagle Snacks and Michelob brands for this multi-disciplined full-service advertising, marketing, and public relations agency.
• Grew agency billings by leading successful solicitation of integrated Eagle Snacks account and Continental Baking Company new product accounts. From 1992 to 1996 (4 years) Product Manager @ • Held P&L and product launch responsibility for bread and cake lines. From 1992 to 1993 (1 year) Vice President @ Began as Account Executive (1986 to 1990), promoted to VP/Account Supervisor (1990 to 1992).
Managed $30MM in billings (via 3 account executives and 3 assistant AEs) from P&G and ConAgra clients for this US-based advertising agency with worldwide subsidiaries.
• EDISON recipient for launch management of marketing plan that exceeded revenue plan by 25%. From 1986 to 1992 (6 years)
Bachelor of Arts, Journalism with a focus on Public Relations @ University of Oklahoma From 1980 to 1984 Michele Fite is skilled in: Marketing Strategy, Cross-functional Team..., Customer Insight, Competitive Analysis, Marketing, Product Development, Food, Strategic Planning, Marketing Communications, P&L Operations..., Operations Turnarounds, Continuous Business..., New Product Launch, Full Market..., Venture Capital Affairs, Private Equity Affairs, Market Growth, Brand Management, Food Industry, Ingredients, Integrated Marketing, Leadership, Management, Market Planning, Market Research, Marketing Management, Strategy, FMCG