Experience
Berkshire Partners (Private Equity)
-
Independent advisor that provides consulting services to Berkshire or its portfolio companies including but not limited to deal origination and diligence and operating company support
Implus LLC (Portfolio Company of Berkshire Partners)
-
Launched new strategic roadmap for growth called the Double Down strategy which makes sharper portfolio choices, establishes a new way-of-working, establishes a set of core beliefs that is strengthening the culture
-
Recruited new leadership team to Implus and strengthened the business over the last three years despite the pandemic-driven volatility and the disruption of the sourcing and delivery of the company’s products
-
Restructured organization aligning commercial, category, and functional leadership with direct reporting relationship to the CEO; initiated significant product cost optimization effort across total portfolio called Project Rise which has delivered over $20 million in cost reduction
-
Invested to strengthen product development, design-for-sustainability, and digital commerce capabilities, while building one-company IT infrastructure and strengthened commercial organization outside the USA
-
Significantly transformed EBITDA and EBITDA margin, de-levered balance sheet, professionalized capabilities, and strengthened talent despite all the external challenges related to the global pandemic and macro-economic slowdown
Newell Brands (NASDAQ: NWL)
-
Transformed Newell Brands from $5.2B holding company (2011) to $9.4B consumer goods company (2019)
-
Increased annual dividend from $0.20 per share (2010) to $0.92 per share (2019) and drove enterprise value from ~$5B (Q3 2011) to ~$15B (Q2 2019), having peaked at over $25B in 2017
-
Completed 35 transactions to establish multi-core consumer durables business with leading brand positions in seven global categories (Writing, Baby, Food, Appliances, Home Fragrance, Outdoor, and Security)
-
Reduced overhead structure of company from 22.5% of revenue (2011) to 17.8% (2019 estimate) while increasing advertising and promotion investment from 2.5% to over 4%
-
Nearly doubled innovation funnel value from 2011 to 2019 and drove e-commerce channel penetration from 9% of revenue to over 20% globally (26% in US)
-
Strengthened organization capability and expertise in product design, innovation, brand building and eCommerce (recruited new talent from the outside to lead these disciplines), creating enterprise-wide organizations for Design (Kalamazoo, MI) and eCommerce (Hoboken, NJ) with significantly up-skilled talent; simultaneously created center of excellence in Supply Chain with resources recruited to the company from the outside to strengthen working capital management practices and improve operating cashflow
-
Completely changed top leadership team and talent deeper in the organization through a combination of external recruitment and internal development, launching new HRIS system that supported a new performance management and learning platform called grow@newell
-
Transformation of company occurred in 3 chapters: 1) proving the new business model at Newell Rubbermaid which resulted in significant value creation (2011 to 2015); 2) scaling the company through the acquisition and integration of Jarden Corporation (2015 to 2017), a company materially larger and more complex than Newell (Jarden: 52 P&L units, 42 ERP systems, $10B in sales); and 3) accelerating the transformation of the company in response to a series of external disruptions and in the context of activist engagement (2018 and 2019)
-
In second half 2017 through mid-2018, led the organization through three rapid-fire external disruptions (top writing retailer takeover/restructuring, top baby gear retailer bankruptcy, resin network force majeure as a result of Hurricane Harvey) which negatively impacted growth and earnings on former Newell Rubbermaid businesses accounting for nearly 50% of Newell Brands EBITDA; these events disrupted 25 consecutive quarters of delivering or exceeding guidance; after two missed quarters, reestablished 6 consecutive quarters of earnings guidance delivery (through Q2 2019)
-
In January 2018, launched the company’s Accelerated Transformation Plan (portfolio and organization restructuring) and successfully defended the company’s strategy through an “unprecedented” activist battle which was resolved in Q2 2018
-
Drove the Accelerated Transformation Plan into action divesting businesses accounting for about 30% of the company’s revenue generating after tax proceeds of about $8B. Proceeds were passed back to shareholders via deleveraging and share repurchase and reduced the professional headcount of the company on continuing operations by 16% in the year subsequent to the activist battle delivering gross cost benefits of over $200M
-
Retired June 30, 2019 after nearly 10 years on the Board of Directors and 8 years as Chief Executive Officer with portfolio actions largely complete and the company greater than $4B larger than 2011, over $7B of deleveraging completed since 2016 (with another $750M tender announced), overheads substantially resized to the $9.4B revenue stream, growth returned to 5 of 7 operating divisions including the critical Baby and Writing Divisions, the dividend increased by over 350% during tenure, and enterprise value $9B greater than first quarter as CEO in Q3 2011
Unilever (NASDAQ: UN)
-
Authored Unilever Global Category/Corporate Strategy and key voice in shaping company’s strategy-on-a-page (The Compass) in partnership with new CEO, leading to a series of investment choices and portfolio actions in 2011 and beyond that resulted in growth acceleration and significant value creation (2011 to 2015)
-
Operationalized Unilever’s strategy to Win with Brands and Innovation and the Sustainable Living Plan driving underlying sales growth acceleration from 3.5% (2009) to 6.5% (2011) and 6.9% (2012)
-
Led acquisition of Alberto Culver (Global) and Kalina (Russia), resulting in US market leadership in hair care and Russia market leadership in personal care
-
Partnered with peers to make highly-matrixed organization work efficiently and with minimal friction
-
Accelerated growth driving revenue gains in North America and Latin America from a base of €13.2B (2005) to €14.6B (2010) through the implementation of new One Unilever operating model and the resulting strengthened commercial execution
-
Simultaneously increased operating margin from a base of 13.0% (2005) to 16.0% (2010) through the restructuring of operations in each country in the Americas combining independent Food, Ice Cream, and Home & Personal Care companies into One Unilever organizations and clustering countries into Multi-Country Organizations (MCO’s)
-
Appointed to be Executive Sponsor of newly formed Global Customer Development function. Recruited Chief Customer Development Officer from within Unilever and created industry leading Customer Insight and Innovation Center (New Jersey hub, London/Singapore/Sao Paulo spokes) which resulted in Walmart and Tesco both recognizing Unilever as Global Supplier of the Year (2009)
-
Named Next Generation CEO by Business Week (2006)
-
Rapidly strengthened Unilever Foods US marketing and selling capability recruiting key talent to join Unilever from Kraft Foods
-
Launched new Foods brand platform called Carb Options delivering over $75M in revenue in year one (greater than $50M larger than any food innovation launched in the prior decade in the US)
-
Captured market share leadership in Deodorants (from P&G), Skin Cleansing (from P&G) and Ice Cream (from Nestle) through exceptional marketing on Dove, Axe, Suave and Ben & Jerry’s and the successful introduction of Magnum and Dove for Men (Superbowl Launch)
-
Led the integration of Food, Home, Personal Care, Ice Cream into One Unilever operating model, consolidating all Unilever US operations into one headquarters in the US (Englewood Cliffs, NJ) from operations in Connecticut, Chicago, Boca Raton, Green Bay and Los Angeles
-
Successfully launched Unilever’s first Customer Insight and Innovation Center as part of One Unilever initiative
-
Co-Chair, NA Pepsi-Lipton Partnership (RTD Tea) and successfully launched Lipton RTD green tea which has become the leading RTD tea brand in the US
Kraft Foods (NASDAQ: KHC)
-
Led Integration of Nabisco into Kraft and Kraft’s Confection business into Nabisco in North America
-
Accelerated growth through the successful launch of a series of new products including Oreo Double Delights, Mini Oreo/Chips Ahoy!/Ritz Bits To-Go Cups, Ritz Baked Chips platform, Altoids Minis, Altoids Sours, and a significant new advertising investment behind Chips Ahoy! and Mr. Peanut and Planters
-
Led and helped develop key talent that would go onto to significant leadership roles in the industry including Chris Baldwin (current Chairman BJ’s Warehouse Club), Michelle Buck (current Chairman and CEO Hershey), Denise Morrison (former Chairman and CEO Campbells Soup), John LeBoutillier (current Operating Partner Brynwood Partners and Chairman and CEO Harvest Hill)
-
Led the creation of 20-country operating region from country-based model and accelerated growth from 4% (1998) to 11% (2001) through pan-regional launches of brand innovations and the expansion of Maxwell House coffee (into ANZ) and nutritionally fortified (vitamin A,C,E) powdered soft drinks in emerging markets (SEA and India expansion; opened new Tang factory in Hyderabad, India)
-
Member of three JV Boards: Ajinomoto General Foods (Japan; Coffee); Morinaga Milk Industries (Japan; Cheese, Chocolate) ; Dong Suh Foods (South Korea; Coffee and Cereal)
-
Began the integration of Nabisco into Kraft in Asia Pacific
Procter & Gamble (NASDAQ: PG)
Governance/Board Memberships
Implus LLC (Berkshire Partners owned)
Logitech International (LOGI/LOGN)
Colgate-Palmolive (CL)
Newell Brands (NWL)
Yankee Candle Company (YCC)
Other Affliations
Glee Club Alumni Advisory Board, Cornell University
Council, Woodrow Wilson Center
Board of Trustees, Morehouse College
Executive Committee of Board, Retail Industry Leaders Association
Executive Committee, Enactus
Executive Committee of Board, Grocery Manufacturers of America
Education
Harvard Business School
Cornell University