Description
Outline about bills first turnaround was a lenders monitor.
Chuck has over 20 years of international senior executive experience in mining, clean tech and information
technology. He has had extensive turnaround experience with two mining companies where he acted as
CEO of two mining companies in 2004-2006 and 2011-2014. He was brought in to both companies to
takeover full responsibility for leadership and directing all aspects of strategy, growth, and expansion of
the businesses. Both companies were struggling with a weak sense of direction. With one, he quickly
identified a strategic opportunity to acquire additional assets to access new markets and take advantage
of internal synergies and economic efficiencies resulting in an increase in revenue of 60%. As CEO of the
second mining company, he identified and executed a related acquisition valued at US$160 million,
completed dual listings on JSE and NSX, and monetized Canadian mining properties through a reverse
takeover transaction. Chuck was also CEO of an international renewable energy service businesses
primarily focusing on wind and solar energy, where he was responsible for leading the strategy, growth,
and international expansion of the company’s business operations in North America and Europe. He
executed a strategic recovery plan which ultimately resulted in increasing revenues by 1700% from 2007-
2010. During this time, he executed 7 acquisitions and raised over $10MM in equity and debt capital
within challenging economic conditions.
John is an accomplished senior leader with extensive experience in the security and defence technology
industry. As VP Global Operations of an international defense/personnel protective equipment
company which had a structural cost base which could support $300+ million in revenues but in 2010/11
on had $100 million, he proposed an action plan to the board of directors to reduce the UK operations
head count and focus engineering services on profitable product lines. He also engaged a third party to
broker the sale of several non-core product lines, consolidated USA properties/offices and restructured
US operations to focus on selling intelligence reports and information gathering tools, ultimately
resulting in substantial savings in each year. From 2007-2011 John was hired as COO of a company
primarily focused on selling analog products into the US broadcast market. At the time, the company
had no marketing and no quality systems. John ultimately transitioned the customer base from 4-letter
Broadcast to 3-letter Government agency. Business backlog grew 100%, and revenues doubled in
2012/2013. Company staffing increased from 15 to 45+. He also established sales and marketing, a
company web site, a program management office, and ISO 9001-2008 certification.
Ross has spent a significant portion of his business career in turnaround or liquidation situations in the
real estate and manufacturing sectors. Ross was retained in the early 90’s by a parent company to act
as President of one of its subsidiaries operating in the real estate sector which was in liquidation.
Reporting to the court, Ross was charged with the management and orderly liquidation of 30 limited
partnerships that owned properties across Ontario. 3,000 investors owned these partnerships.
Additionally, this company held a number of real estate projects in various stages of completion, and
Ross was responsible for restructuring the financing, completing and selling these projects. Ross also
served as President /General Partner of a chain of 64 hotels, reporting to an elected Advisory Board and
5,000 investors. His mandate was to restructure the financing and management and to provide an
orderly liquidation of these investments. Ross is currently restructuring and reorganizing a non-profit
school for autistic children, with two campuses, and a related Foundation, as a volunteer acting
President. He is President of a subsidiary of a California private investment bank which made a series of
equity investments in illiquid residential real estate, most of which have since been liquidated.
Ashok is a telecom/IT business executive with a significant international experience including
assignments in India, Vietnam, and Brazil. While VP engineering at Group Telecom, he created a
network/technology vision, and developed and executed tactical plans. He transformed the engineering
group into a market driven development team resulting in increased market share and significantly
enhanced the competitive position of the company by becoming a market leader in a short time frame.
He used innovative approaches (success based investment, demand driven deployment), technologies
and operational tactics to successfully compete with incumbent telecommunication companies
ultimately contributing to an increase of revenue 400% in two years. While acting as senior consultant
for a large international telecom Brazilian subsidiary, he developed and implemented strategic
network/technology/operations vision for a new telco network designed & built in less than 6 months
(using partnership/team approach), achieved competitive ‘time to market’ and cost advantages. He
selected technology, vendors/subcontractors, and negotiated attractive vendor financing terms and
gained market share by offering new services and by adopting a customer focused approach.
For over 25 years, Chris has been leading large and small high-tech companies operating in 8 broad
sectors, including aerospace/defense, life sciences, telecommunications, transportation, software and
clean-tech. A specialist in software/IT disciplines, he is also highly skilled in change management and
project management. He has acted as strategic advisor to Canadian and US companies and conducted
multiple turnarounds and restructuring engagements.
During the last 6 years, operating as an independent consultant/advisor, Chris has provided
management consulting services supporting M&A activity for small-to-medium cap companies. He has
specialized in high-tech engagements requiring due-diligence assessments and fast turnaround
leadership expertise, taking companies through restructuring, refinancing and ultimately to exit. Some
examples of companies for which he took the role of interim CEO include an Alberta solar energy
company, an Alberta software company offering a SaaS product to the oil and gas industry, a BC-based
digital rights software company and a Denver company producing a financial SaaS product – all of which
had experienced slow growth for many years and for which the mandate was to quickly restructure and
reposition the company for exit. Chris has also acted a business advisor for an array of different industry
sectors including biotech, aerospace, materials science, energy, telecoms, cleantech, IT, etc.
For over 20 years Gary has been in various senior management and executive roles for both private and
public small and medium cap corporations operating in the retail sector. His career includes executive
and senior management finance and operations positions with large well-known brand names in the
consumer retail industry. Throughout Gary’s career, he has been involved in very complex turnarounds
due to the extremely competitive nature of the consumer retail industry. The fundamental problems
these companies were facing included shrinking margins, eroding profit levels, lack of clear brand
position and obsolete technology. Gary’s approach to the problems included changing business
models, refocused operations on areas with significantly higher profit margins, reduced cost structure
and drove efficiencies. His actions have resulted in operational efficiencies and business wide
improvements ultimately resulting in stronger financials.
Henry is a Canadian qualified accountant who is drawn to enterprises overwhelmed by complex and
diverse challenges. He has been involved in a number of turnarounds throughout his career. He
previously purchased a small unprofitable travel agency with gross revenue of $500,000. The company
specialized in providing the corporate traveler with complete services. He joined a network of agencies
and became the only agency, to date, to reach $1 million in revenue. He expanded through both natural
growth and acquisitions. The company’s entry and success in the incentive travel market caught the
attention of a company that purchased the agency, and three years later, the agency was selling over
$3,000,000 in corporate and incentive travel. In 2007 Henry was hired to replace a Controller of a
Danish owned manufacturer of leather furniture which at the time was operating at a loss. Henry’s
turnaround approach resulted in positive cash flows in 2009, the first time in 5 years. One
accomplishment contributing to this was a reduction in inventory to $1.5 million from $3.2 million which
generated $200,000 in cash flow.
Don has over 30 years of turnaround experience dealing with companies operating in the
manufacturing, agriculture, furniture, and transportation sectors. A large portion of his career has
involved being hired by receivers, board of directors, shareholders and as a court appointed trustee
specifically to turnaround businesses who are either in default or in chapter 11. As an example, a
manufacturer of structures and equipment for the horticulture industry defaulted on its operating line
and a receiver was appointed. Don was appointed by the receiver to turnaround the business. He
liquidated two completely unrelated divisions, sublet 50% of the facility to reduce attendant overheads,
eliminated senior management, ensured that sales orders were profitable, and streamlined the quoting
process for dealers. His approach resulted in the company becoming cash flow positive within nine
weeks, and sold out of receivership within six months. He continued to operate and grow the business
as its President and a shareholder for the next ten years. In a similar situation, Don was hired as CEO by
the controlling shareholder of a company which was in chapter 11. He invoked inventory and WIP
controls in manufacturing, resulting in an extraordinary cash flow improvement of $750,000 within six
months. He also replaced the plant manager and structured the plan of reorganization to bring the
company out of Chapter 11.
Robert has been in senior leadership roles for over 30 years and is recognised for building trust among
stakeholders with differing objectives during adverse conditions. Previously he was VP and CFO of a
high-tech company working in an unfavourable economic environment. Fundamental problems
included insufficient reporting systems, unsatisfactory lending relationships and weak board and
stakeholder relations. He turned around this situation by sourcing fresh venture capital, added an asset-
based lender, advised and analysed merger and acquisition targets, reduced rent costs by $200,000 per
annum, discovered deficiencies in the accounting system of a Fortune 500 supplier, and re-negotiated
this vendor’s demand of $1.3 million to less than $0.3 million under favourable terms. He also
improved board, investor, customer and other relationships through pro-active involvement in
understanding their operations, determining objectives, communicating recommendations, and
implementing action plans.
David has substantial turnaround experience with companies in many different industries including mail
order, electrical & communications, manufacturing, furniture, energy, utilities, retail, and
healthcare. While working for a mail order company, he negotiated settlement with a bank for a
$4,000,000 write off, eliminated another $1,500,000 in unsecured debt, and arranged new financing by
leveraging inventory and credit card future receipts. While working for a cabling service business he
negotiated settlement with bank for a $2,000,000 write off, sold off a division, eliminated $2,500,000 in
debt including a fleet of 75 vehicles along with $100,000 in gas consumption, and found a new partner
that provided working capital and took on a new position reporting to the President. He was also
involved with a public company that was restructured by converting unsecured and secured debt into
shares of the company, which allowed the company to make a synergistic acquisition of a US group of
companies by arranging two financing groups that would not provide the capital until the restructuring
was finalized. These are only but a few examples among David’s long list of turnaround experiences.
Ron has extensive turnaround experience in the healthcare and biomedical technology industries.
Previously, he was Executive Vice President of the Canadian subsidiary of a fortune 500 company. In this
role, he led the development and execution of a strategic plan which resulted in a 16% CAGR, decreased
CPOD by 60%, and increased market share from 20-58% over a 10 year period. Ron was also President
of a large international healthcare corporation where his accomplishments include the merger of the
operations of 5 separate organizations, 12% revenue growth YOY, and decreased combined operational
budget by $1.5 million. He also signed one of the largest single source healthcare deal in Canada. His
accomplishments while Executive Vice President at another healthcare company include winning a large
competitive $30 million deal, grew 2005 revenues by 30%, grew employee value index by 24% YOY and
developed and signed a strategic partnership with the Ontario Pharmacists` Association.
Saul is an experienced business operator who has operated businesses with a wide range of revenue
levels reaching multimillion dollars. He has finance, treasury, operations, risk management, capital
markets and corporate governance experiences, both internationally and within Canada. During Saul’s
career, he has successfully restructured businesses and helped facilitate change, leading to an improved
and more robust financial and operational environment, twice undertaken senior roles in, and
successfully helped manage, corporate crisis situations, managed bank portfolios (conventional and
special loans), corporate treasury and supplier relationships during times of cash flow problems and led
numerous contract and deal negotiations, achieving superior operational results and saving millions of
dollars. He has also structured, negotiated and closed almost $80 million of various types of debt, quasi-
equity, fixed asset purchase and disposition transactions and other specialized contracts for SME’s over
a wide range of industries, been an integral part of a team that negotiated and structured billions of
dollars of capital, market and structured product transactions for large international entities, and
profitably managed bank proprietary trading portfolios (including during times of extreme market
volatility).
Goetz has significant international experience in various management positions with large
multi-national companies as well as with smaller privately owned businesses, several with
private equity involvement. He previously worked for a large German multinational engineering
and electronics company where he developed a successful turnaround plan for the electric motor
division, including the integration of strategic acquisitions in the Czech Republic (3 manufacturing sites).
He delivered a comprehensive evaluation of manufacturing locations in the NAFTA market, resulting in
the closure of 2 facilities and introduced more efficient planning, reporting and controlling processes
including related production facilities inside and outside of Germany. While VP of the Canadian
subsidiary, he successfully restructured and realigned the controlling department, introduced Lean-
Principles to re-engineer supply chain processes achieving a cost reduction of 30%, and initiated new
processes for supply chain and controlling, increasing cost efficiency by 10%. He also Optimized EBIT-
Asset position by 50%, restructured and optimized sales, marketing and support departments, and
integrated three manufacturing operation. Goetz was also involved in turning around a glass
manufacturer who had continuous loses. Through his approach, within two years the company was
generating a $4 million profit which was an improvement of $10 million YOY.
Robert has over 15 years of experience helping businesses and entrepreneurs identify and capitalize on
their business’ strategic advantages to grow sales, profitability and market share. From 2012-2014, he
refocused a publicly traded Canadian merchant bank’s business and operations on its capital
investment and bridge finance business leading to its return to profitability in 2014 causing its stock
price to rise from a low of $0.07/share to a high of $0.59/share over the same period. He
restructured a financial services company’s investment fund management business and operations
from 2010 to 2012 to simplify its management, allowing it to double assets under management which
enabled it to be sold for $15 million. Robert also implemented a number of market share
growth/retention projects for one of the big 5 commercial banks from 2005 to 2010 and recovered
over $1 billion in high profit assets previously draining to competitor products. While working for the
bank he restructured a subsidiaries’ wealth brokerage team to improve its financial performance and
profitability. In 2004/2005, he optimized the operations to improve customer service and increased
sales by over 20% (from $2.5 Million to $3.0 Million) and tripled sales from 2000 to 2003(from $400
Thousand to $1.2 Million). In 2004 Robert was hired by a media company and was responsible for
upgrading the financial systems and record keeping for the group of companies. He upgraded the
controls and cash flow management to allow the companies to capitalize on their growth opportunities
ultimately resulting in sales increasing 25% YOY.
Keith has been involved in turnarounds with companies of various sizes primarily in the agricultural sector.
From 1978-1990 he worked for a global agricultural equipment manufacturer which was in financial
difficulty at the time he was hired. His first role was in marketing and product planning, where he was
responsible for streamlining the product range, outsourcing unprofitable or obsolete implements, and
developing the product definition for a new range of tractors to fill a gap in the critical mid horse power
range. He was then appointed Director, Business Planning and subsequently VP, Corporate Comptroller
and Planning and, for the next 6 years, was intimately involved in the financial restructuring and strategic
planning. He also was involved in the creation of a virtual inventory system that allowed the company to
substantially reduce worldwide parts inventory, particularly of obsolete parts that they were required to
provide for 20 years. This enabled the company to reduce the space in the central warehouse by almost
50%. Keith also was involved in the turnaround of two trucking businesses who were both losing
significant amounts of money. While working for the first trucking company, his role was to stem the
losses and search for a disposal strategy. In the 3 years he was there, he helped reduced the losses to
essentially breakeven. When he joined the second company, it was trying to be acquired but no buyer
was on the horizon. Keith’s approach resulted in the company returning to profitability on slightly lower
sales, having paid out bonuses to all the staff in lieu of wage and salary increases, based on measurable
performance metrics. The owner was then able to sell the business at a realistic value.
For over 35 years, Larry has been in various senior management and executive roles. His turnaround
experience is in the fabrication, health and beauty, and consumer retail industries. As CFO of a metal
fabricator, one of the subsidiaries was a specialty fabricator winning high-profile contracts and generating
revenue of about $10,000,000 per annum, but losing money. Larry’s primary change was in the way
overhead was applied in estimating the cost of production. The result was a price increase in quotations,
losing some high-profile bids but winning lower profile, but higher priced bids. The result was a significant
increase in gross profit and a break even bottom line. As COO and CFO of companies operating in the
health and beauty industry, Larry was successful in pulling the companies out of special loans, cleaning
them up and priming them for sale. The companies extruded and filled containers for the health and
beauty care industry but ran into trouble when the controlling shareholder passed away. Changes to the
method and timing of purchases and a streamlining of the invoicing and collection processes were
sufficient to improve the cash flow and security position and to re-establish a positive banking
relationship. As the acting CFO of a technology company, interim successful projects included a total
restructuring of the corporate group into two distinct operating divisions for sharper focus and clearer
implementation of business strategies with the intention of a future spin off opportunity. Larry has also
been involved in many other turnarounds while in interim executive roles.
John has turnaround experience in both large multi-national corporations and smaller private
enterprises, as well as with entrepreneurial start-ups in the agriculture, information technology, real
estate and manufacturing sectors. He has demonstrated success in analyzing under-performing
companies, implementing appropriate corrective actions, prudently managing turnaround situations,
and leading companies through transition while achieving superior financial performance. He has
realized tremendous turnaround success in the agriculture industry. While CEO of the largest fresh-
water fish capture/processing company in the world, he doubled sales revenue to $30 million. While
President of a high-tech aquaculture company, he transformed start-up losses into $35 million EBITDA,
generating 15% ROI. John was hired by a lumber company who was on the verge of bankruptcy. The
business was a wood trim/moulding manufacturing company sourcing exotic lumber from all over the
world to supply the Ontario residential building/renovation market. John revamped the manufacturing
process to reduce change-over down time and eliminate production overrun waste, consolidated orders
to increase output, secured purchase volume discounts, sold off surplus inventory, and implemented a
new “fully-burdened” cost estimate program to cover all overheads and provide a reasonable profit
margin. John has also been involved in turning around a real estate developer and an info tech
company.
Stan has a tremendous amount of experience in technology and telecommunications. Stan was hired to
turnaround a publicly traded company selling software billing solutions to local governments and utilities
throughout North America, for both electrical and water billing. The company was based in eastern
Canada which caused it to have high operational costs and it was also facing a number of other operational
problems. When Stan was hired, he took decisive action to reduce the headcount and relocate to Toronto,
streamlined processes and procedures, and standardized portions of the software solution. Stan found
two suitable acquisition targets, helped raise $25 million and completed the acquisition. Upon completion
of the deal, Stan had taken a bankrupt $3 million company and turned it into a $60 million profitable
business, with 400 employees. He then spun off the business, selling it to the employees as a privately
held corporation.
Pete has been involved in turnarounds for over 30 years primarily in the aviation, airline and machining
industries. He worked for a charter airline who ran out of cash and had recently lost their largest
customer. To keep them from declaring insolvency, he helped stretch payables, renegotiated the long
term debt with the debt holders, got the bank to stand still, and sold some underutilized assets. By the
following summer, the airline was in positive cash flow with all back debts current. He was hired by an
aviation weather provider who’s recently fired management had been destroying accounting records to
drive the company into bankruptcy so there could be an MBO from the owner. Pete recreated the books
of the company for the missing 3 years, created projections and helped negotiate the sale of the company
to a public company in the flight planning software business. Pete was also involved in the turnaround of
a small machining business and a holding company in the machining industry.
Bill’s first turnaround was a lenders monitor in a public electronics company where he liaised between
management and lenders/government. Major issues were over-capacity and management shortcomings.
Following this was as CEO of Canada’s largest information technology company where the problems to be
solved were deficiencies in properly commercializing abundant technology. He re-organized operations
and sold the company to one of the world’s largest information companies. His next project was operation
of a specialty rubber and plastics firm located in an obsolete plant with an adversarial union. He led the
company through creditor protection and sold off the divisions. On behalf of the secured creditors sold
owners hotels and reorganized major brand hotel franchisor and manager. Subsequently merged with
another corporation and led the establishment of a public company. In addition, he successively operated
two public software companies in California, Quebec and Ontario, reversed the losses through promotion
of appropriate products and elimination of superfluous costs. Shortly after the official opening, he
assumed the role of executive chairman and CEO of a casino resort in Vietnam for almost a year prior to
hiring permanent management.
doc_665037469.pdf
Outline about bills first turnaround was a lenders monitor.
Chuck has over 20 years of international senior executive experience in mining, clean tech and information
technology. He has had extensive turnaround experience with two mining companies where he acted as
CEO of two mining companies in 2004-2006 and 2011-2014. He was brought in to both companies to
takeover full responsibility for leadership and directing all aspects of strategy, growth, and expansion of
the businesses. Both companies were struggling with a weak sense of direction. With one, he quickly
identified a strategic opportunity to acquire additional assets to access new markets and take advantage
of internal synergies and economic efficiencies resulting in an increase in revenue of 60%. As CEO of the
second mining company, he identified and executed a related acquisition valued at US$160 million,
completed dual listings on JSE and NSX, and monetized Canadian mining properties through a reverse
takeover transaction. Chuck was also CEO of an international renewable energy service businesses
primarily focusing on wind and solar energy, where he was responsible for leading the strategy, growth,
and international expansion of the company’s business operations in North America and Europe. He
executed a strategic recovery plan which ultimately resulted in increasing revenues by 1700% from 2007-
2010. During this time, he executed 7 acquisitions and raised over $10MM in equity and debt capital
within challenging economic conditions.
John is an accomplished senior leader with extensive experience in the security and defence technology
industry. As VP Global Operations of an international defense/personnel protective equipment
company which had a structural cost base which could support $300+ million in revenues but in 2010/11
on had $100 million, he proposed an action plan to the board of directors to reduce the UK operations
head count and focus engineering services on profitable product lines. He also engaged a third party to
broker the sale of several non-core product lines, consolidated USA properties/offices and restructured
US operations to focus on selling intelligence reports and information gathering tools, ultimately
resulting in substantial savings in each year. From 2007-2011 John was hired as COO of a company
primarily focused on selling analog products into the US broadcast market. At the time, the company
had no marketing and no quality systems. John ultimately transitioned the customer base from 4-letter
Broadcast to 3-letter Government agency. Business backlog grew 100%, and revenues doubled in
2012/2013. Company staffing increased from 15 to 45+. He also established sales and marketing, a
company web site, a program management office, and ISO 9001-2008 certification.
Ross has spent a significant portion of his business career in turnaround or liquidation situations in the
real estate and manufacturing sectors. Ross was retained in the early 90’s by a parent company to act
as President of one of its subsidiaries operating in the real estate sector which was in liquidation.
Reporting to the court, Ross was charged with the management and orderly liquidation of 30 limited
partnerships that owned properties across Ontario. 3,000 investors owned these partnerships.
Additionally, this company held a number of real estate projects in various stages of completion, and
Ross was responsible for restructuring the financing, completing and selling these projects. Ross also
served as President /General Partner of a chain of 64 hotels, reporting to an elected Advisory Board and
5,000 investors. His mandate was to restructure the financing and management and to provide an
orderly liquidation of these investments. Ross is currently restructuring and reorganizing a non-profit
school for autistic children, with two campuses, and a related Foundation, as a volunteer acting
President. He is President of a subsidiary of a California private investment bank which made a series of
equity investments in illiquid residential real estate, most of which have since been liquidated.
Ashok is a telecom/IT business executive with a significant international experience including
assignments in India, Vietnam, and Brazil. While VP engineering at Group Telecom, he created a
network/technology vision, and developed and executed tactical plans. He transformed the engineering
group into a market driven development team resulting in increased market share and significantly
enhanced the competitive position of the company by becoming a market leader in a short time frame.
He used innovative approaches (success based investment, demand driven deployment), technologies
and operational tactics to successfully compete with incumbent telecommunication companies
ultimately contributing to an increase of revenue 400% in two years. While acting as senior consultant
for a large international telecom Brazilian subsidiary, he developed and implemented strategic
network/technology/operations vision for a new telco network designed & built in less than 6 months
(using partnership/team approach), achieved competitive ‘time to market’ and cost advantages. He
selected technology, vendors/subcontractors, and negotiated attractive vendor financing terms and
gained market share by offering new services and by adopting a customer focused approach.
For over 25 years, Chris has been leading large and small high-tech companies operating in 8 broad
sectors, including aerospace/defense, life sciences, telecommunications, transportation, software and
clean-tech. A specialist in software/IT disciplines, he is also highly skilled in change management and
project management. He has acted as strategic advisor to Canadian and US companies and conducted
multiple turnarounds and restructuring engagements.
During the last 6 years, operating as an independent consultant/advisor, Chris has provided
management consulting services supporting M&A activity for small-to-medium cap companies. He has
specialized in high-tech engagements requiring due-diligence assessments and fast turnaround
leadership expertise, taking companies through restructuring, refinancing and ultimately to exit. Some
examples of companies for which he took the role of interim CEO include an Alberta solar energy
company, an Alberta software company offering a SaaS product to the oil and gas industry, a BC-based
digital rights software company and a Denver company producing a financial SaaS product – all of which
had experienced slow growth for many years and for which the mandate was to quickly restructure and
reposition the company for exit. Chris has also acted a business advisor for an array of different industry
sectors including biotech, aerospace, materials science, energy, telecoms, cleantech, IT, etc.
For over 20 years Gary has been in various senior management and executive roles for both private and
public small and medium cap corporations operating in the retail sector. His career includes executive
and senior management finance and operations positions with large well-known brand names in the
consumer retail industry. Throughout Gary’s career, he has been involved in very complex turnarounds
due to the extremely competitive nature of the consumer retail industry. The fundamental problems
these companies were facing included shrinking margins, eroding profit levels, lack of clear brand
position and obsolete technology. Gary’s approach to the problems included changing business
models, refocused operations on areas with significantly higher profit margins, reduced cost structure
and drove efficiencies. His actions have resulted in operational efficiencies and business wide
improvements ultimately resulting in stronger financials.
Henry is a Canadian qualified accountant who is drawn to enterprises overwhelmed by complex and
diverse challenges. He has been involved in a number of turnarounds throughout his career. He
previously purchased a small unprofitable travel agency with gross revenue of $500,000. The company
specialized in providing the corporate traveler with complete services. He joined a network of agencies
and became the only agency, to date, to reach $1 million in revenue. He expanded through both natural
growth and acquisitions. The company’s entry and success in the incentive travel market caught the
attention of a company that purchased the agency, and three years later, the agency was selling over
$3,000,000 in corporate and incentive travel. In 2007 Henry was hired to replace a Controller of a
Danish owned manufacturer of leather furniture which at the time was operating at a loss. Henry’s
turnaround approach resulted in positive cash flows in 2009, the first time in 5 years. One
accomplishment contributing to this was a reduction in inventory to $1.5 million from $3.2 million which
generated $200,000 in cash flow.
Don has over 30 years of turnaround experience dealing with companies operating in the
manufacturing, agriculture, furniture, and transportation sectors. A large portion of his career has
involved being hired by receivers, board of directors, shareholders and as a court appointed trustee
specifically to turnaround businesses who are either in default or in chapter 11. As an example, a
manufacturer of structures and equipment for the horticulture industry defaulted on its operating line
and a receiver was appointed. Don was appointed by the receiver to turnaround the business. He
liquidated two completely unrelated divisions, sublet 50% of the facility to reduce attendant overheads,
eliminated senior management, ensured that sales orders were profitable, and streamlined the quoting
process for dealers. His approach resulted in the company becoming cash flow positive within nine
weeks, and sold out of receivership within six months. He continued to operate and grow the business
as its President and a shareholder for the next ten years. In a similar situation, Don was hired as CEO by
the controlling shareholder of a company which was in chapter 11. He invoked inventory and WIP
controls in manufacturing, resulting in an extraordinary cash flow improvement of $750,000 within six
months. He also replaced the plant manager and structured the plan of reorganization to bring the
company out of Chapter 11.
Robert has been in senior leadership roles for over 30 years and is recognised for building trust among
stakeholders with differing objectives during adverse conditions. Previously he was VP and CFO of a
high-tech company working in an unfavourable economic environment. Fundamental problems
included insufficient reporting systems, unsatisfactory lending relationships and weak board and
stakeholder relations. He turned around this situation by sourcing fresh venture capital, added an asset-
based lender, advised and analysed merger and acquisition targets, reduced rent costs by $200,000 per
annum, discovered deficiencies in the accounting system of a Fortune 500 supplier, and re-negotiated
this vendor’s demand of $1.3 million to less than $0.3 million under favourable terms. He also
improved board, investor, customer and other relationships through pro-active involvement in
understanding their operations, determining objectives, communicating recommendations, and
implementing action plans.
David has substantial turnaround experience with companies in many different industries including mail
order, electrical & communications, manufacturing, furniture, energy, utilities, retail, and
healthcare. While working for a mail order company, he negotiated settlement with a bank for a
$4,000,000 write off, eliminated another $1,500,000 in unsecured debt, and arranged new financing by
leveraging inventory and credit card future receipts. While working for a cabling service business he
negotiated settlement with bank for a $2,000,000 write off, sold off a division, eliminated $2,500,000 in
debt including a fleet of 75 vehicles along with $100,000 in gas consumption, and found a new partner
that provided working capital and took on a new position reporting to the President. He was also
involved with a public company that was restructured by converting unsecured and secured debt into
shares of the company, which allowed the company to make a synergistic acquisition of a US group of
companies by arranging two financing groups that would not provide the capital until the restructuring
was finalized. These are only but a few examples among David’s long list of turnaround experiences.
Ron has extensive turnaround experience in the healthcare and biomedical technology industries.
Previously, he was Executive Vice President of the Canadian subsidiary of a fortune 500 company. In this
role, he led the development and execution of a strategic plan which resulted in a 16% CAGR, decreased
CPOD by 60%, and increased market share from 20-58% over a 10 year period. Ron was also President
of a large international healthcare corporation where his accomplishments include the merger of the
operations of 5 separate organizations, 12% revenue growth YOY, and decreased combined operational
budget by $1.5 million. He also signed one of the largest single source healthcare deal in Canada. His
accomplishments while Executive Vice President at another healthcare company include winning a large
competitive $30 million deal, grew 2005 revenues by 30%, grew employee value index by 24% YOY and
developed and signed a strategic partnership with the Ontario Pharmacists` Association.
Saul is an experienced business operator who has operated businesses with a wide range of revenue
levels reaching multimillion dollars. He has finance, treasury, operations, risk management, capital
markets and corporate governance experiences, both internationally and within Canada. During Saul’s
career, he has successfully restructured businesses and helped facilitate change, leading to an improved
and more robust financial and operational environment, twice undertaken senior roles in, and
successfully helped manage, corporate crisis situations, managed bank portfolios (conventional and
special loans), corporate treasury and supplier relationships during times of cash flow problems and led
numerous contract and deal negotiations, achieving superior operational results and saving millions of
dollars. He has also structured, negotiated and closed almost $80 million of various types of debt, quasi-
equity, fixed asset purchase and disposition transactions and other specialized contracts for SME’s over
a wide range of industries, been an integral part of a team that negotiated and structured billions of
dollars of capital, market and structured product transactions for large international entities, and
profitably managed bank proprietary trading portfolios (including during times of extreme market
volatility).
Goetz has significant international experience in various management positions with large
multi-national companies as well as with smaller privately owned businesses, several with
private equity involvement. He previously worked for a large German multinational engineering
and electronics company where he developed a successful turnaround plan for the electric motor
division, including the integration of strategic acquisitions in the Czech Republic (3 manufacturing sites).
He delivered a comprehensive evaluation of manufacturing locations in the NAFTA market, resulting in
the closure of 2 facilities and introduced more efficient planning, reporting and controlling processes
including related production facilities inside and outside of Germany. While VP of the Canadian
subsidiary, he successfully restructured and realigned the controlling department, introduced Lean-
Principles to re-engineer supply chain processes achieving a cost reduction of 30%, and initiated new
processes for supply chain and controlling, increasing cost efficiency by 10%. He also Optimized EBIT-
Asset position by 50%, restructured and optimized sales, marketing and support departments, and
integrated three manufacturing operation. Goetz was also involved in turning around a glass
manufacturer who had continuous loses. Through his approach, within two years the company was
generating a $4 million profit which was an improvement of $10 million YOY.
Robert has over 15 years of experience helping businesses and entrepreneurs identify and capitalize on
their business’ strategic advantages to grow sales, profitability and market share. From 2012-2014, he
refocused a publicly traded Canadian merchant bank’s business and operations on its capital
investment and bridge finance business leading to its return to profitability in 2014 causing its stock
price to rise from a low of $0.07/share to a high of $0.59/share over the same period. He
restructured a financial services company’s investment fund management business and operations
from 2010 to 2012 to simplify its management, allowing it to double assets under management which
enabled it to be sold for $15 million. Robert also implemented a number of market share
growth/retention projects for one of the big 5 commercial banks from 2005 to 2010 and recovered
over $1 billion in high profit assets previously draining to competitor products. While working for the
bank he restructured a subsidiaries’ wealth brokerage team to improve its financial performance and
profitability. In 2004/2005, he optimized the operations to improve customer service and increased
sales by over 20% (from $2.5 Million to $3.0 Million) and tripled sales from 2000 to 2003(from $400
Thousand to $1.2 Million). In 2004 Robert was hired by a media company and was responsible for
upgrading the financial systems and record keeping for the group of companies. He upgraded the
controls and cash flow management to allow the companies to capitalize on their growth opportunities
ultimately resulting in sales increasing 25% YOY.
Keith has been involved in turnarounds with companies of various sizes primarily in the agricultural sector.
From 1978-1990 he worked for a global agricultural equipment manufacturer which was in financial
difficulty at the time he was hired. His first role was in marketing and product planning, where he was
responsible for streamlining the product range, outsourcing unprofitable or obsolete implements, and
developing the product definition for a new range of tractors to fill a gap in the critical mid horse power
range. He was then appointed Director, Business Planning and subsequently VP, Corporate Comptroller
and Planning and, for the next 6 years, was intimately involved in the financial restructuring and strategic
planning. He also was involved in the creation of a virtual inventory system that allowed the company to
substantially reduce worldwide parts inventory, particularly of obsolete parts that they were required to
provide for 20 years. This enabled the company to reduce the space in the central warehouse by almost
50%. Keith also was involved in the turnaround of two trucking businesses who were both losing
significant amounts of money. While working for the first trucking company, his role was to stem the
losses and search for a disposal strategy. In the 3 years he was there, he helped reduced the losses to
essentially breakeven. When he joined the second company, it was trying to be acquired but no buyer
was on the horizon. Keith’s approach resulted in the company returning to profitability on slightly lower
sales, having paid out bonuses to all the staff in lieu of wage and salary increases, based on measurable
performance metrics. The owner was then able to sell the business at a realistic value.
For over 35 years, Larry has been in various senior management and executive roles. His turnaround
experience is in the fabrication, health and beauty, and consumer retail industries. As CFO of a metal
fabricator, one of the subsidiaries was a specialty fabricator winning high-profile contracts and generating
revenue of about $10,000,000 per annum, but losing money. Larry’s primary change was in the way
overhead was applied in estimating the cost of production. The result was a price increase in quotations,
losing some high-profile bids but winning lower profile, but higher priced bids. The result was a significant
increase in gross profit and a break even bottom line. As COO and CFO of companies operating in the
health and beauty industry, Larry was successful in pulling the companies out of special loans, cleaning
them up and priming them for sale. The companies extruded and filled containers for the health and
beauty care industry but ran into trouble when the controlling shareholder passed away. Changes to the
method and timing of purchases and a streamlining of the invoicing and collection processes were
sufficient to improve the cash flow and security position and to re-establish a positive banking
relationship. As the acting CFO of a technology company, interim successful projects included a total
restructuring of the corporate group into two distinct operating divisions for sharper focus and clearer
implementation of business strategies with the intention of a future spin off opportunity. Larry has also
been involved in many other turnarounds while in interim executive roles.
John has turnaround experience in both large multi-national corporations and smaller private
enterprises, as well as with entrepreneurial start-ups in the agriculture, information technology, real
estate and manufacturing sectors. He has demonstrated success in analyzing under-performing
companies, implementing appropriate corrective actions, prudently managing turnaround situations,
and leading companies through transition while achieving superior financial performance. He has
realized tremendous turnaround success in the agriculture industry. While CEO of the largest fresh-
water fish capture/processing company in the world, he doubled sales revenue to $30 million. While
President of a high-tech aquaculture company, he transformed start-up losses into $35 million EBITDA,
generating 15% ROI. John was hired by a lumber company who was on the verge of bankruptcy. The
business was a wood trim/moulding manufacturing company sourcing exotic lumber from all over the
world to supply the Ontario residential building/renovation market. John revamped the manufacturing
process to reduce change-over down time and eliminate production overrun waste, consolidated orders
to increase output, secured purchase volume discounts, sold off surplus inventory, and implemented a
new “fully-burdened” cost estimate program to cover all overheads and provide a reasonable profit
margin. John has also been involved in turning around a real estate developer and an info tech
company.
Stan has a tremendous amount of experience in technology and telecommunications. Stan was hired to
turnaround a publicly traded company selling software billing solutions to local governments and utilities
throughout North America, for both electrical and water billing. The company was based in eastern
Canada which caused it to have high operational costs and it was also facing a number of other operational
problems. When Stan was hired, he took decisive action to reduce the headcount and relocate to Toronto,
streamlined processes and procedures, and standardized portions of the software solution. Stan found
two suitable acquisition targets, helped raise $25 million and completed the acquisition. Upon completion
of the deal, Stan had taken a bankrupt $3 million company and turned it into a $60 million profitable
business, with 400 employees. He then spun off the business, selling it to the employees as a privately
held corporation.
Pete has been involved in turnarounds for over 30 years primarily in the aviation, airline and machining
industries. He worked for a charter airline who ran out of cash and had recently lost their largest
customer. To keep them from declaring insolvency, he helped stretch payables, renegotiated the long
term debt with the debt holders, got the bank to stand still, and sold some underutilized assets. By the
following summer, the airline was in positive cash flow with all back debts current. He was hired by an
aviation weather provider who’s recently fired management had been destroying accounting records to
drive the company into bankruptcy so there could be an MBO from the owner. Pete recreated the books
of the company for the missing 3 years, created projections and helped negotiate the sale of the company
to a public company in the flight planning software business. Pete was also involved in the turnaround of
a small machining business and a holding company in the machining industry.
Bill’s first turnaround was a lenders monitor in a public electronics company where he liaised between
management and lenders/government. Major issues were over-capacity and management shortcomings.
Following this was as CEO of Canada’s largest information technology company where the problems to be
solved were deficiencies in properly commercializing abundant technology. He re-organized operations
and sold the company to one of the world’s largest information companies. His next project was operation
of a specialty rubber and plastics firm located in an obsolete plant with an adversarial union. He led the
company through creditor protection and sold off the divisions. On behalf of the secured creditors sold
owners hotels and reorganized major brand hotel franchisor and manager. Subsequently merged with
another corporation and led the establishment of a public company. In addition, he successively operated
two public software companies in California, Quebec and Ontario, reversed the losses through promotion
of appropriate products and elimination of superfluous costs. Shortly after the official opening, he
assumed the role of executive chairman and CEO of a casino resort in Vietnam for almost a year prior to
hiring permanent management.
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