Mr. Buttolph brings to EBB 19 + years as a senior
financial executive with significant turn-around, valuation, and
international experience in technology, manufacturing, and service company
environments. Specific areas of expertise include corporate recovery, crisis
management, capital investment allocation, evaluation and approval.
Operational experience in financial reporting, including SEC reporting,
regulatory compliance, financial planning, analysis, acquisition planning
and execution. A strategist skilled at linking market needs,
product/portfolio offerings, and operational performance metrics through the
use of careful controls, discounted cash flow and statistical process
methods. A successful turn-around executive with significant problem solving
and team development abilities
- Completed a successful financial
turn-around of public multi-national Internet service provider. Led
efforts to address accounting and control issues. Implemented
internal-audit co-source arrangement and replaced external audit
relationship. Successfully planned and transitioned central accounting
and external reporting from United States to United Kingdom. Designed
and implemented revised financial controls for all expenditures,
customer contracts, revenue recognition, credit memos, credit and
collection efforts, capital and period costs, as well, plus external
vendor relationships. Designed and implemented procedures and reviews
necessary for Sarbanes-Oxley compliance.
- Led financial and operational
turn-around of commercial printing, fulfillment, and print on demand
facility with revenues of $15 million. Successfully reduced staff by 27%
with minimal reduction in revenue. Identified and exited unprofitable
Florida operation and terminated unprofitable customer relationships.
Improved working capital management and reporting. Established weekly
management meetings, revised scheduling efforts, mapped internal
processes, established defect metrics, designed management reporting and
reorganized organizational structure. To date, annual recurring costs
have been reduced by $ 1,050,000. Fallow/underutilized equipment is
being liquidated and major vendor contracts for equipment maintenance
and supplies have been recast and reduced. Prepared analysis and led
discussions with debt and capital lease holders to restructure company
liabilities. Working with owners to establish clear exit/succession plan
for other family members involved in company operations.
- Reduced a start-up client
company’s cash consumption rate from $25 million to $5 million quarterly
in 6 month timeframe. Revised cash investment activities and management
to gain $2 million annual interest income.
- Led effort to review and
investigate joint fibre build project / contract for one of three
partners where general partner was experiencing financial distress. This
effort gained final title to the project for client as well as a
significant cash payment from the bankruptcy estate for my client and
avoidance of payment in excess of $10 million in additional costs.
- Led financial turn-around of $1.0
billion revenue 1 million customer ILEC. This company’s free cash flow
on an annual basis was improved from $(2.7) million to $195 million
within 8 months.
- Developed financial model and
research to analyze portfolio securitization clause in private label
credit card contract resulting in $1 million benefit in contract
- Analyzed international acquisition
candidate resulting in rescission of proposed transaction saving $14
million for buyer.
- Investigated prior financial
management irregulataries in billing activities of subsidiary company,
recommended and executed corrective action plan, restated financial
results and lead effort to respond to SEC inquiry.
Via Net.Works, Inc, Reston Virginia
President, Chief Financial Officer, and Treasurer
Ernst & Young, LLP, Chicago/New York
National Telecom Accounts
President – Network Commercial Management
University, Decatur, IL – B.S. Economics 1985
Kansas City, MO – M.B.A. Finance 1990
Founder and Managing Partner