Chief Financial Officer with more than 20 years of leadership and experience in the Manufacturing, Food & Beverage and Restaurant Industries
Results-driven senior financial and operational executive with broad based experience in strategic, operational and financial management with proven turnaround capabilities. Proven ability to think creatively to unlock hidden profitability, develop effective teams and execute within a fast-paced, changing business environment.
Awarded the 2009 CFO of the Year as "Transformational Agent" by the Orange County Business Journal.
Specialties: Senior Financial Executive, Strategic Planning, Financial Analysis, Process Improvement, Culture Change Leadership, Turnaround Opportunities, Acquisitions & Divestitures, Capital Raising, Credit Facility, SEC Reporting and Compliance, Financial Reporting and Accounting, Investor Relations, Treasury & Cash Management, Private Equity owned portfolio companies
Chief Financial Officer, Vice President & Treasurer @ Bal Seal Engineering, Inc., is a privately held, global provider of custom-engineered sealing, connecting, conducting and shielding/grounding solutions for original equipment manufacturers. By applying its material science capabilities and leveraging its unique Canted-coil™ spring technology, the company develops new products, enhances existing designs and discovers new ways to propel technology forward. From January 2014 to Present (2 years) President & Managing Partner @ Management consulting firm supplying financial, operational and strategic advisory services for small and middle market companies.
Current and/or previous engagements include:
** Interim CFO for a beverage packaging company
** Interim CFO for a global mobile device remanufacturer and logistic services company
** Interim CFO for multi-brand restaurant company
** Industry Expert Consultations for the Coffee, Food & Beverage, Restaurant and CPG industries
** Interim COO for company specializing in the management of residential developments including high rise, mixed use, single family homes and condominiums.
** Evaluating potential restaurant acquisition opportunities From July 2010 to Present (5 years 6 months) Chief Financial Officer @ Private equity backed company that develops and manufactures proprietary flavor systems and provides aseptic filling and packaging for organic and healthy foods and beverages. Flavours' services encompass the full product lifecycle from concept development to full scale commercial production with customers ranging from start-up businesses to established branded and private label beverage companies. Flavours operates one of only a few independent FDA approved aseptic facilities in the US. Flavours operates a 60,0000 sq ft production facility in Yorba Linda, CA and two distribution and warehousing facilities in Brea, CA and Anaheim, CA encompassing more than 70,000 sq ft of additional space.
• In the first twelve months post-transaction, increased capacity by 111% by adding three additional production lines
• Implemented sales forecasting and production planning & scheduling processes
• Increased production staffing by 85% to accommodate running two ten-hour shifts per day six days per week.
• Redesigning and reimplementing MAS500 ERP system, inventory control processes and production reporting systems
• Redesigned and implemented new outsourced warehouse & logistics organization consolidating two warehouses to insure accurate, just in time delivery of required production materials to Yorba Linda production facility. From July 2012 to December 2013 (1 year 6 months) Interim CFO @ Ace Wireless is a global mobile device remanufacturer and provides engineering consulting services and support to the wireless telephone and data device industry.
Specialties
Mobile device remanufacturing, distribution, sourcing, engineering and quality assurance. From March 2012 to August 2012 (6 months) Interim CFO @ Interim CFO for a restaurant investment and development company specializing in acquiring franchisee-operated companies and restaurant chains. The company is the third largest franchisee in the Papa John's system and operates 66 locations in Las Vegas, Ohio and North Carolina. The company also owns the Spaghetti Warehouse restaurant chain with 16 restaurants across 7 states.
* Reorganized accounting and human resources department strucures to increase efficiencies and accountability and reduced headcount
* Reduced period end closing process 30 days to 10 days
* Outsourced the payroll processing and tax compliance activities
* Engaged new audit and tax teams From August 2011 to January 2012 (6 months) President @ Diedrich Coffee (NASDAQ: DDRX) was a closely-held public company that specialized in sourcing, roasting and selling the world’s highest quality coffees. The company marketed its three leading brands of specialty coffees, Diedrich Coffee, Coffee People and Gloria Jean’s Coffees, through office coffee service distributors, restaurants, specialty retailers and ecommerce. Prior to exiting the retail coffeehouse business, the company operated over 250 company and franchise locations in more than 35 states.
Reporting to the Chairman of the Board, oversaw all aspects of the Company’s operations – Sales, Marketing, Manufacturing, Distribution, Finance and Corporate Administration.
In 2009, engineered the dramatic turnaround in the Diedrich Coffee’s financial condition through restructuring the manufacturing operations and divesting underperforming business units that resulted in the significant improvement in operating margins through better production planning and inventory controls, lower labor costs, improved purchasing, lower freight costs, higher production efficiencies and strengthening of the management team at the roasting facility. These initiatives sparked Diedrich Coffee’s financial condition turnaround with results for the trailing twelve months through June 2010 that included:
• Revenue growth of 66% to $102 million with gross margin improving to 25% from 19% in the prior year.
• EBITDA growth of 512% to $14.3 million from $2.3 million in the prior year
• Completed the build out of 2 Northern California manufacturing and distribution facilities totaling over 130,000 sq ft
• Increased manufacturing capacity from 40,000 K-cups per day in 2007 to over 1.5 million K-cups per day in 2010.
• Increased the number of manufacturing lines from two lines averaging 100 cups per minute to seven lines averaging 280 cups per minute..
• May 2010 - Completed sale to Green Mountain Coffee Roasters at $35.00 per share - almost $300 million From January 2010 to July 2010 (7 months) Orange County, California AreaChief Financial Officer @ • Developed and executed on the strategic plan to exit retail coffeehouse operations and transform the company into a consumer goods manufacturing company focused on the high growth K-Cup market and contract roasting business for large food service companies.
• Manage staff of 25 responsible for strategic planning, accounting, financial reporting and analysis, treasury, human resources, risk management, tax, legal and investor relations.
• Responsible for the preparation of SEC financial reporting and supervise quarterly reviews and year-end audits with independent auditors.
• Led business process improvement initatives required for the documentation and remediation of the SOX risk assessment & compliance process for financial reporting internal controls.
• Led implementation of a new ERP, process manufacturing & management reporting systems.
• Divested underperforming operating units: March 2009 – Sale of Gloria Jean’s US franchise operations ($3.1 million), January 2007 – Sale of the Diedrich & Coffee People retail locations ($13.5 million). From December 2005 to January 2010 (4 years 2 months) Orange County, California AreaVice President, Controller @ Responsible for all public financial reporting, strategic planning and financial analysis for multi-brand retail coffeehouse company with locations in 35 states and manufacturing/distribution operations that supply coffee related products to a wide variety of retail and wholeslae customers. From April 2004 to December 2005 (1 year 9 months) Director, Finance @ Multi-brand restaurant company with more than 300 company-operated and franchised Coco’s and Carrows family-style restaurants located primarily in the Western United States with revenues exceeding $300 million annually.
Director, Finance, 2000 - 2003
Manager, Financial Planning & Analysis, 1999
Manager, Field Finance, 1998
As Director, Finance, I reported directly to the President/CEO and managed a staff responsible for all financial planning and analysis, budgeting, forecasting and cash management activities for company. From May 1998 to February 2003 (4 years 10 months) Director, Finance @ Multi-brand restaurant company with more than 300 company-operated and franchised Coco’s and Carrows family-style restaurants located primarily in the Western United States with revenues exceeding $300 million annually.
Director, Finance, 2000 - 2003
Manager, Financial Planning & Analysis, 1999
Manager, Field Finance, 1998
As Director, Finance, I reported directly to the President/CEO and managed a staff responsible for all financial planning and analysis, budgeting, forecasting and cash management activities for company. From May 1998 to February 2003 (4 years 10 months) Business Analyst @ From June 1997 to June 1998 (1 year 1 month) Sr. Financial Analyst @ From June 1994 to May 1997 (3 years) Sr. Staff Accountant @ From May 1992 to June 1994 (2 years 2 months) Accounting Supervisor @ From August 1989 to June 1992 (2 years 11 months) Accounting Clerk @ From August 1987 to August 1989 (2 years 1 month) Multi-Store Manager @ From February 1985 to August 1987 (2 years 7 months)
MBA, Finance @ University of Southern California - Marshall School of Business From 1995 to 1998 BS, Business Management @ Pepperdine University, The George L. Graziadio School of Business and Management From 1989 to 1992 Business @ Orange Coast CollegeCertificate, Effective Boardroom Leadership @ University of California, Irvine - The Paul Merage School of Business Sean McCarthy is skilled in: Strategic Planning, Competitive Analysis, Operations Management, Tatical Planning & Execution, Food & Beverage, Change Management, Financial Analysis, Financial Reporting, ERP Implementations, Organizational Design, Process Optimization, Capital Budgeting, Cash Management, Cash Flow Forecasting, Accounting