Michael R. Underwood - MBA 831-206-9480 cell
Hands-on finance professional, with strong combination of financial/operational experience and demonstrated success in
driving improved bottom-line performance. In depth business experience based on leadership roles at corporate/division
headquarters, along with field experience at plants and distribution centers. Supported Senior Management by establishing effective
partnership relationships in a broad range of functions: these included strategic planning, budgeting, profitability analysis,
implementation of dashboards and key performance metrics. Developed high performing teams and successfully implemented varied
accounting system solutions that reduced losses and improved efficiency in the organization. Skilled at assessing and turning around
underperforming financial and administrative functions. I want to join an organization which needs financial expertise to improve
operating performance/ profitability and requires effective accountability in their business unit.
BS/MBA, Haas School of Business, Passed CPA Exam, Industry Experience in Consumer Products, Food & Beverage, High-
Tech, Medical Devices and Medical Supply Chain Management.
Key skills include:
FP&A/Budgeting/Forecasting Corporate/Manufacturing/Distribution Controllership
Audit Management/SOX 404 Familiar with Alight and Hyperion Planning Process
Dashboards, KPIs, Metrics Strategic Planning/ROI analysis/Product Margin Management
Cost Accounting & Inventory Cash Management/Debt Restructuring/Fund Raising
Financial Consultant 2009 to Present
Established a robust reporting process for $20M construction company, when acting as contract CFO. Established
management reporting framework based on metrics and key performance indicators. Developed capability of forecasting
cash performance and P&L profitability. These tools led to requiring a restructuring of the company. The budget tools and
cost structure analysis will now guide the company to profitability.
Assisted the CEO of Brilliant Technology in the sale of the entity to Juniper Networks in early 2011. Managed the due
diligence process for BTI with the acquiring acquisition team. Managed the administrative team to accomplish a smooth and
seamless transition to the new owner. Managed cash and resolved potential roadblocks thereby streamlining the process.
Director of Finance and Accounting Monterey Gourmet Foods, Salinas, CA Sales $110M 2007 to 2009
Acted as critical business partner to CFO and Senior Staff. Managed the strategic planning and budgeting cycle. Assisted
CFO in process of public reporting. Provided financial management for four plant locations. Developed formal monthly
cycle of performance reporting for all divisions to the Senior Staff. This created improved alignment and accountability.
Controlled annual audit process and interfaced with bankers and risk management/benefit providers.
Implemented SOX 404 to meet reporting deadlines. Included software tracking system with all narratives and key controls.
Organized and managed two year-end audits with no material auditor comments.
Selected and installed new FP&A software, thereby, eliminating third party solution and saving $20K per year.
Successfully completed start-up of new deduction resolution software system ($150K) expect to save $800k per year.
Initiated financial reviews for new products establishing pricing and margin results, thereby, increasing profits.
Reduced close cycle by 25% while expanding use of metrics and dashboard reporting to drive management accountability.
Supervised revenue recognition and 123R equity accounting.
Business Unit Controller Milgard Windows and Doors, Hollister, CA Sales $110M 2005 to 2007
Drove improvement of profits for the Service/Home Production Builder Department saving $1.7M annually.
This was accomplished by partnering with management to uncover the source of pricing and costing errors.
Expanded staff to provide improved analytical support for all departments. Upgraded quality of financial support.
Heavily involved in Six Sigma initiatives to reduce plant losses and automate quality failure data collection.
Spearheaded improved annual budgeting and planning cycle that drove increased personal accountability.
Contract Corporate Controller Odwalla (Coca-Cola), Half Moon Bay, CA Sales $120M 2004
Supervised and supported implementation of SOX 404 procedures.
Strengthened teamwork amongst financial managers and functions. Streamlined close process/reporting.
Managed a smooth year-end closing and reporting to parent company despite lack of procedures.
Completed full inventory of all external display assets at distribution centers and distributor locations.
Vice President of Finance Accordion Networks, Fremont, CA 2001 to 2004
Worked with CEO in fund raising activities with VC partners. Key player in raising $8 million in Series C financing.
Restructuring expense deck to accommodate funding limits and new market realities.
Instituted financial discipline to fast paced telecom startup.
Restructured $6M in debt thru workout agreement involving 140 vendors for equity and a small cash payment.
Key driver in moving company focus from Telecom to Hospitality market.
Acted as right hand person to the CEO in several areas (product pricing/profitability/and deal analysis/investor relations and
supply chain management).
Corporate Controller Omnicell, PaloAlto, CA Sales $85M 2000
Identified and corrected weaknesses in E-Commerce business unit, Contract Administration and ERP system.
Assisted CFO in restructuring company to level that reached profitability.
Raised level of support to Operational VPs so that Finance was viewed as a business partner.
Key driver in filing 3 S1s with the SEC as the company prepared to go public. Supported auditors, legal team and bankers.
Director of Finance & Administration RadioLan, Sunnyvale, CA Sales $15M 1997 to 1999
Built efficient query based management reporting system running on enterprise software (i.e. bookings, shipments, backlog,
margins, etc.) to manage this startup business. Implemented MRP and sales forecasting systems.
Established cost accounting disciplines and channel profitability reporting. Developed accounting processes which ensured
on-time closes and repeatable processes. Managed lengthy period of tight cash and resolved outstanding A/R issues with
minimal write-offs. Responsible for order entry, distribution, inventory forecasting and control. Established credit and
collections policies and procedures.
Provided key support in securing final round of venture capital financing $13 million.
Redefined all benefit programs, including 401K, resulting in improved service levels and savings of $50,000 per year.
Finance Director LifeScan (Johnson and Johnson) Milpitas, CA Sales $1billion 1994 to 1997
Directed planning process, accounts receivable (A/R), tax preparation, shared services, and budget unit support for
Marketing, Sales, and R&D for market leader in diabetes testing. Managed 30 people through four direct reports.
Reshaped A/R Department, eliminating ineffective manager. Redefined interdepartmental responsibilities, improved
efficiency, and empowered employees.
Identified weaknesses in Managed Care support area and recruited key manager to fill critical position.
Developed monthly performance reporting process to explain key P&L results for U.S. and international operations.
Coordinated R&D tax credit study with external auditors. Resulted in $500,000 tax saving.
Developed brand P&L’s to allow determination of contribution by product line.
Division Controller Network Equipment Technology Redwood City, CA Sales $300M 1991 to 1994
Manager of Operations Accounting Anthem Electronics, San Jose, CA Sales $400M 1990 to 1991
Assistant Controller Shaklee Corporation San Francisco, CA Sales $220M 1979 to 1990
Plant Controller Shaklee Corporation Norman, OK
Accomplishments 1979 to 1994:
Designed and implemented complex cost accounting solution for pharmaceutical grade manufacturing plant.
Key participant in implementing Statistical Process Control (SPC) at plant and corporate level.
Managed shared services for over 1,000 employees.
Financial manager driving implementation of manufacturing software to manage board stuffing operation.
EDUCATION AND CERTIFICATION:
MBA Finance and Accounting, University of California, Berkeley
BS Finance and Accounting, University of California, Berkeley
CPA Certified Public Accountant, State of Oklahoma 1988, License #10080 (inactive)
FEI Member of Financial Executives International, Silicon Valley Chapter
IMA Member of Institute of Management Accountants, South Bay Chapter
Expandable, Oracle and JDE Edwards (assisted in implementation)
Microsoft Office Suite, QuickBooks, Alight Planning, Hyperion, Computer Ease and Account Review
9720 Linnet Court 408-846-8262 home
Gilroy, CA 95020