Action-oriented executive responsible for a $1.3B company with a strong track record of delivering results. Provides strategic vision, champions process improvement initiatives, drives margin improvements, implements cost reduction initiatives and develops key relationships with stakeholders in the business. Utilizes analysis and insight to solve complex business issues. Develops high performing teams by recruiting top talent, providing continuous performance feedback and motivating teams to perform at peak levels
Strategic Planning Process Improvement Private Equity/Sponsor Relationships
Reengineering Relationship Building High Performance Team Leadership
Board of Directors Six Sigma Goal Setting and Attainment
Acquisitions KPI Benchmarking/Evaluation Recruitment and Retention
Financial Modeling Executive Reporting Cost Containment
Forecasting Financial Analysis Revenue Growth
Capital Investment Budgeting Working Capital
Board of Directors
Chief Financial Officer @ From 2014 to Present (1 year) Phoenix, Arizona AreaEVP and Chief Financial Officer @ Corporate officer fast-tracked to CFO role in less than 1 year for $1.3B company, which provides outdoor advertising for the Americas. Quickly assessed need for cost containment and instituted methods to achieve $30M reductions. Responsible for 90-person team, right-sizing it according to new business environment. Oversee strategic planning, financial analysis, general accounting, accounts receivable /collections, and corporate purchasing. Championed process improvement initiatives; drove margin improvements and cost containment strategies. Built key relationships with stakeholders throughout company. Regularly presents to board of directors, including private equity/sponsors. Recruited to initial senior vice president position to transform FP&A function, in which successfully developed company's first 3-year strategic plan. Streamlined and improved budgeting process, developed comprehensive executive monthly operating review deck, improved forecasting accuracy, and provided timely executive-level analysis.
- Developed company's first 3-year strategic plan, which included OOH environment and market forecasts, new product deployments and scenario analysis.
- Significantly improved forecast accuracy achieving 97% accuracy
- Implemented Exec Dashboard for leadership team to focus on key metrics and trends
- Business thought partner to CEO and executive leadership team
- Regularly presents to board of directors / private equity partners
- Delivered cost savings of over $30M
- Achieved significant improvements in working capital - $57M; improved past due AR by by 70%.
- Manage over $100M in annual capital budgets ensuring optimal investments and ROI
- Board of Directors for Canadian JV From 2010 to Present (5 years) Vice President of Finance & Corporate Procurement @ Selected for senior finance leadership role in a $3.5B transportation company. Managed team of 200 people including finance, procurement, payroll, AR, AP, permits, licensing, and contract management. After demonstrating strong results in core financial functions, was promoted to take on additional leadership in procurement, licensing, permits, and owner operator settlements.
- Achieved 20% finance team headcount reductions while revenue grew 20+%. Streamlined and automated processes by implementing electronic billing and EFT, instituting invoice imaging, establishing processes for Kronos timekeeping, and monitoring electronic contract workflow. Established performance metrics and renewed employee commitment to high standards.
- Utilized Six Sigma tools and processes to streamline process and generate revenue growth of $10M: Identified gap in Order to Cash billing process that resulted in an increased $8M billing for services that were not previously being billed; created fixes to prevent non-billing for services. Implemented system changes to capture incremental revenue.
- Established organization to manage and direct procurement process; recruited and hired team, then negotiated on expenses to cut costs on non-tractor processes that resulted in $8M of ongoing savings in first year of implementation.
- Re-engineered Driver Trip Imaging process, saving $2M annually. Revolutionized process to re-engineer driver trip records to payroll through imaging and partnering with a 3rd party vendor. Transformed business methods in this area.
- Implemented Pcard program yielding $2M annually to bottom line: Start up program with quick turn-around yielding $2M in run rate savings.
-Developed cash flow model and analysis From 2003 to 2010 (7 years) Partner @ Provided senior leadership for strategic consulting firm serving Fortune 100 clients including Dell, Sprint, and Avery Dennison. Advised clients on global business strategies including outsourcing opportunities, financial shared services optimization, ERP system implementations, and online procurement tools.
- Conducted offshore outsourcing analysis for Dell; led project to analyze off shore outsourcing for Dell Shared Services including vendor analysis, bid proposals, recommendations and implementation plans.
- Led shared services optimization project for Sprint; analyzed process and recommended changes that resulted in lower FTEs, elimination of redundant processes, and elimination of 10 day backlog of invoices.
- Optimized financial functions at Avery Dennison. Led design of financial ERP system implementation.
- Led team to resolve integration issues in the Procure to Pay Process at Dell. Revised workflow and procedures to optimize process. Eliminated bottlenecks and backlog From 1998 to 2002 (4 years) Finance Executive - various positions @ Responsible for various leadership roles in $24B company including roles in FP&A, Shared Services, IT, and Supply Chain.
- Identified as High Potential Employee for 5 years in a row participating in strategic leadership rotation program.
- Developed reputation for delivering on time, achieving commitments, and producing results.
- Identified cost savings in supply chain by partnering with supply chain leadership to identify inventory cost reduction opportunities, address obsolescence inventory, and improve inventory turns.
- Trained in Six Sigma / Lean manufacturing. Led multiple projects for cost savings of over $5M.
- Established company-wide shared services team; consolidated financial systems and processes for 100+ business units into shared services center, eliminated $5M+ in costs and supported $6B in supplier payments for automotive, engineered materials, and aerospace sectors with $24B in revenue.
- Implemented ERP systems; recruited to lead IT team implementing SAP and Oracle ERP systems across multiple divisions. Standardized processes across divisions, developed training, managed internal and external consulting teams to deliver project on time and on budget.
- Shortened close to 2 days; team reduced cycle time, automated entries, and improved accrual and allocation processes.
- Implemented capital projects tracking system; worked closely with engineering team to design system to track work orders and capital-related costs. From 1992 to 1997 (5 years)
Executive MBA @ Arizona State University From 1996 to 1998 Financial Executive Leadership Program @ University of Pennsylvania - The Wharton SchoolBachelor of Arts (BA), Accounting and Finance @ Indiana University Renee Krug is skilled in: Working Capital Management, Acquisitions, Monthly Close, Financial Forecasting, Capital Budgeting, Budget, Financial Analysis, Corporate Finance, Financial System Conversions, Process Improvement, Six Sigma, Lean Manufacturing, Strategic Planning, Supplier Negotiation, Information Technology