Image of Wesley McDonald

Wesley McDonald

Senior EVP and CFO

Retired Principal Officer, CFO, Kohl's

Sarasota, Florida Area

Section title

Wesley McDonald's Email Addresses & Phone Numbers

Wesley McDonald's Work Experience

KOHL'S CORPORATION

Senior EVP and CFO

August 2003 to Present

Abercrombie & Fitch

Vice President, Chief Financial Officer

June 2000 to August 2003

Target Corporation IS Finance

Director

January 1998 to January 2000

Wesley McDonald's Education

University of Pennsylvania - The Wharton School

MBA Finance

1986 to 1988

Bucknell University

B.S. in Engineering Computer Engineering

1980 to 1984

Wesley McDonald's Professional Skills Radar Chart

Based on our findings, Wesley McDonald is ...

Strategic
Competent
Private

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Based on our findings, Wesley McDonald is ...

56% Left Brained
44% Right Brained

Wesley McDonald's Estimated Salary Range

About Wesley McDonald's Current Company

KOHL'S CORPORATION

KOHL’S CORPORATION Menomonee Falls, WI Senior Executive Vice President, Chief Financial Officer 2003-present Staff of 2300 with 3 Direct Reports. Reports to CEO. Areas of responsibility include Financial Planning & Analysis, Investor Relations, Financial Reporting, Accounting Operations, Tax, Treasury, Purchasing, Corporate Governance, Credit and Capital Investment • Partnered with key members of senior management to reduce inventory...

Frequently Asked Questions about Wesley McDonald

What company does Wesley McDonald work for?

Wesley McDonald works for KOHL'S CORPORATION


What is Wesley McDonald's role at KOHL'S CORPORATION?

Wesley McDonald is Senior EVP and CFO


What is Wesley McDonald's personal email address?

Wesley McDonald's personal email address is we****[email protected]


What is Wesley McDonald's business email address?

Wesley McDonald's business email address is w****[email protected]


What is Wesley McDonald's Phone Number?

Wesley McDonald's phone (305) ***-*228


What industry does Wesley McDonald work in?

Wesley McDonald works in the Retail industry.


Who are Wesley McDonald's colleagues?

Wesley McDonald's colleagues are Colin CGMA, Stephen Mair, Ray Migneco, Michael LoFurno, Sujan Khadgi, Nicole Souvenir, Courtney Reges, Paige Rachel, Liza Heid, and Dan Girgenti


About Wesley McDonald

📖 Summary

Senior EVP and CFO @ KOHL’S CORPORATION Menomonee Falls, WI Senior Executive Vice President, Chief Financial Officer 2003-present Staff of 2300 with 3 Direct Reports. Reports to CEO. Areas of responsibility include Financial Planning & Analysis, Investor Relations, Financial Reporting, Accounting Operations, Tax, Treasury, Purchasing, Corporate Governance, Credit and Capital Investment • Partnered with key members of senior management to reduce inventory risk and increase gross margin annually since hire date. Cumulative increase over 330 basis points. Initiated focus on average inventory, turnover and A/P of inventory to reduce risk and increase free cash flow to $1 billion annually. • Direct biannual merchandising and expense planning processes. Overall SG&A growth per square foot declined (11)% despite expansion into more expensive areas. • Focal point for investor relations, SEC and external communication with Wall Street. Consistently ranked in Top Three CFO’s in Institutional Investor rankings for Broadlines/Department Stores - #1 Buy-Side in 2010 and #1 Sell-Side in 2011. • Partner with SVP-Risk Management to manage risk management, import and social compliance, marketing compliance and inventory control. Inventory shrink managed to 1.30% of sales during tenure due to investment in technology and fixtures without sales reduction. • Direct $750M capital budget including pro-forma development for new stores, capital structure, and cash flow forecasting. Responsible for managing capital structure including debt structure, share repurchase and dividend policy. • Oversees credit card customer service, collections and risk management of $3.5 billion portfolio in partnership with Capital One.. Increased profitability of portfolio by over $430 million in ten-year period through balanced risk management and increasing finance charges and late fees to competitive levels. From August 2003 to Present (12 years 3 months) Vice President, Chief Financial Officer @ Staff of 119 with 6 Direct Reports. Reported to COO. Areas of responsibility include Financial Planning & Analysis, Investor Relations, Store Operations, Los Prevention, Financial Reporting, Accounting Operations, Tax, Treasury, and Direct Mail & E-Commerce Operations. Assisted in achieving ten consecutive quarters of year-over-year profit growth during a period of negative comparable store sales growth by tightly managing expenses in the stores, home office and distribution center and working with merchants to improve their initial markup of merchandise. Led effort to manage Hollister Co.'s (a new concept) store expenses to achieve operating margin profitability in its second full year of operation. Revitalized investor relations' function by improving communications with investor community. Responsible for developing call scripts for monthly and quarterly conference calls. Partnered with Sr. Manager of Investor Relations in managing relationships with both sell-side and buy-side analysts. Oversaw all financial functions including sales audit, inventory control, payroll, imports, real estate accounting, financial reporting (internal and external), non-store purchasing, treasury and tax. Led semi-annual planning process as well as the company's five-year long-range goal process for strategic planning. Reviewed possible M&A activity as well as modeling of additional concepts for store growth. From June 2000 to August 2003 (3 years 3 months) Director @ Staff of 40 with 6 Direct Reports. Reported to CFO. Evaluated and recommended SI project of approximately $300 million of capital expenditures annually. Managed $400 million IS annual expense budget as a common corporate entity. Led annual IS project planning process. Provided Y2K expenditure reporting for SEC purposes. Managed procurement and administration of IS contractors for development and support projects, both on-site and off-shore. Reduced vendors by 50% in order to consolidate buying power in 1999. Partnered with IS to install Asset Management system in three areas: Mainframe & Midrange, PC/LAN and Network in order to track both hardware and software assets. Procured 10,000 desktops, laptops and servers annually from single service provider. Reduced laptop and server pricing over (15)% in 1999. Restructured PC service agreement, providing $1.5 million in annual savings. Recommended outsourcing of mainframe operations to IBM in a five-year, $400 million deal. From January 1998 to January 2000 (2 years 1 month) Director, Merchandising Financial Analysis @ Staff of 11 with 6 Direct Reports. Reported to Vice President, Financial Planning and Analysis. Assisted Merchandising in achieving their financial goals for a $20+ billion discount retailer. Focused merchants on markup, markdowns, margin and turnover. Managed merchant planning and forecasting process. Added class level planning and forecasting capabilities in process. Results included record sales and margin in last three years. Provided merchants with a variety of ad-hoc analysis through team of analysts. Increased use of off-season deal buys, resulting in incremental profits and increased guest satisfaction. Recommended reduction in number of % off ads through analyzing incremental sales and gross margin. Recommended exit from unprofitable large fitness area as well as shift in transition from Lawn & Garden to Back-to-School Implemented changes in pricing process resulting in a 20% reduction in store workload without a loss in competitiveness on all 6,000 branded, identical items carried by the competition. Initiated ad comparison reporting versus all major competitors, identifying trends by competitor and ensuring our promotions provided value. Partnered with IS and Merchants in developing an in-house Financial Planning System to provide detailed, what-if capabilities for planning and forecasting. Managed MBA recruiting process for three years, hiring 33 analysts in a very competitive market. From January 1995 to January 1998 (3 years 1 month) Manager, Import Operations @ Staff of 30 with 4 Direct Reports. Reported to Director, Transportation Managed all financial, governmental and logistical operations for importing $2 billion of receipts into the United States in a just-in-time inventory management process. Participated in Total Quality review of import process to aid in development of Global Merchandising System for processing merchandising orders. Educated vendors on bar code process and use of EDI 850 and 856 documents to improve data accuracy. Negotiated with a variety of providers such as banks, customs brokers, consolidators, ocean carriers, air freight forwarders. Saved over $2 million in renegotiating contracts and changing service providers. Ocean freight costs held constant for three years through reduction in vendor base and better partnerships. Moved Caribbean deconsolidation facility from Atlanta to Miami to provide corporate wide services and reduce transportation costs. Switched custom brokers in NY, reducing entry time from 3 days to 1.5 days. Developed automation of operations allowing Target to handle a doubling of receipts in four years without any increase in headcount or reduction in services. Elimination of non-essential work led to annual productivity improvements of over 15%. From January 1991 to January 1995 (4 years 1 month) Manager, Financial Reporting @ Staff of 14 with 5 Direct Reports. Reported to Manager, Financial Accounting. Oversaw monthly closing of General Ledger. Staff produced various analytical models and various reports for Corporate, Merchandising, Finance and Stores. Implemented Micro Control reporting system. Oversaw implementation of the automated, on-line SAC and Merchandising ROI reports as well as weekly variance analysis. Resource for Merchandising in developing exception reports. From January 1990 to January 1991 (1 year 1 month) Senior Financial Analyst, Merchandising Financial Analysis @ /Capital Investment Introduced a PC-based forecast model to Merchandising. Trained users and developed enhancements based on user feedback. Developed forecasting model for markup that helped merchants increase gross margin rates. Expanded role of Advertising Analyst by introducing reports evaluating the effectiveness of front covers and coupon promotions. From January 1988 to January 1990 (2 years 1 month) Lead Engineer @ of the Control and Support Software group for a $500 million jet project. Developed and revised self-test software system for automatic test equipment. Maintained databases and software system for use by 100 engineers. Presented additional project plans to Air Force administrators and determined manpower estimates for new contracts. From September 1984 to September 1986 (2 years 1 month) Associate Engineer @ From January 1984 to January 1986 (2 years 1 month) MBA, Finance @ University of Pennsylvania - The Wharton School From 1986 to 1988 B.S. in Engineering, Computer Engineering @ Bucknell University From 1980 to 1984


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In a nutshell

Wesley McDonald's Personality Type

Introversion (I), Intuition (N), Thinking (T), Judging (J)

Average Tenure

3 year(s), 6 month(s)

Wesley McDonald's Willingness to Change Jobs

Unlikely

Likely

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