David P. D'Angelo, CPA Career Portfolio

Phone: 201.921.7691 | Email: davidpdangelo@gmail.com | West Caldwell, NJ 07006

A CFO/Controller with significant Operations experience in asset intense, service businesses - Equipment, Auto, and Aircraft Leasing industries.

David P. D'Angelo, CPA

CFO/CONTROLLER

Executive Profile

A CFO/Controller with significant Operations experience in asset intense, service businesses - Equipment, Auto, and Aircraft Leasing industries. .

  • A strategic partner with demonstrated success in growing market share, profits and margins.
  • Dramatic cost reductions achieved utilizing Best Practices - Lean Six Sigma; Kanban; KPI metrics; Organizational Restructuring and Outsourcing.
  • Proven leadership in financial management of acquisitions, corporate sales and IPOs.
  • Outstanding planning and execution skills - from Board Room strategy to implementation.

Career Portfolio Highlights

  • Held finance department cost center growth to 20% during time period of 150% and 140% revenue and field network increases respectively.
  • Acquired 35 companies over 24 months. Created and staffed M&A department and implemented due diligence checklists for all departments affected.
  • Reduced DSO's by over 10% (from high 50's to low 50's) and improved cash flow by over $50 million annually.

 

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Outstanding planning and execution skills - from Board Room strategy to implementation.

David P. D'Angelo, CPA

CFO/CONTROLLER

Proficiencies

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Reduced DSO's by over 10% (from high 50's to low 50's) and improved cash flow by over $50 million annually.

David P. D'Angelo, CPA

CFO/CONTROLLER

Selected Achievements

Strategic Planning

  • Developed and executed cost-reduction plans which included headcount and wage reductions of 40%. Closed 20% of locations: There was a flow through of 43% of the lost revenue to the bottom line. Profit margins were held at plus 7% (from a peak of 21%).
 

Financial Planning

  • Held finance department cost center growth to 20% during time period of 150% and 140% revenue and field network increases respectively while maintaining all applicable/appropriate internal controls and preparing all financial data in accordance with corporate standards and timeframes 100% on time: Implemented best practices across the field organization, consolidating field finance functions into centralized cost centers, streamlined financial procedures and processes and broadened areas of responsibilities.
  • Lowered operating costs to achieve 45% EBITDA margins, best in the industry: Implemented Kanban system in operations for counter, maintenance and dispatch. Reduced work streams by 20% and eliminated bottlenecks. Outsourced significant portion of IT function.
 

Acquisitions

  • Acquired 35 companies over 24 months. Created and staffed M&A department and implemented due diligence checklists for all departments affected. Integrated acquisitions into the point-of-sale, general ledger and back office systems. Managed redundancies, implemented a new organizational structure and assimilated all new employees: Enabled company to grow revenues by 100% in 24 months.
 

Leadership and Performance

  • Assumed the responsibilities of both the VP of Fleet Operations and VP of Field Operations. Redesigned organizational structures, implemented daily and weekly key performance indicators (KPIs), introduced financial analytics and aligned fleet mix more closely with customer segmentation: Reduced administrative costs for finance, fleet ops and field ops by 25% while maintaining and improving customer service performance. Increased market share by 15%.
  • Selected to participate in Corporate Organizational Design team for the Finance department. Moved duplicative functions from Divisions and Corporate into Shared Service Centers: Reduced headcount and associated costs of Finance Department to the Corporation by 22%.
 

Restructuring/Improvement

  • Replaced 20-year-old systems with the Rentalman system, an industry specific point-of-sale, A/R and A/P system. Integrated with the corporate general ledger system, FMS. New applications ran on an AS/400 and allowed for the elimination of mainframe computer: New system allowed for real time inventory tracking, improved and complete customer billing, integrated financial platform for sales, inventory, receivables and payables. Achieved a computing cost reduction of 40%.
  • Set up and chaired IT steering committee. Initiated formal tracking system to establish budget, manage costs and prioritize initiatives: Reduced waste of investment dollars by 80% on an annual basis and improved time-to-market by 15%. Lowered IT costs from 3% to 1% of revenue.
  • Reduced staff turnover rate from 60% annually to 10%. Improved overall rating of department from average to above average: Hired key individuals for business and strategic planning group and developed high performing staff through mentoring and appropriate compensation.
  • Planned and executed Region Office reductions from 9 locations to 4 across North America. Went to an East, Central, West and Canadian office structure: Saved $5M annually and reduced fixed and variable cost structure on a permanent basis.
 

Cash Flow & Cash Management

  • Reduced DSO's by over 10% (from high 50's to low 50's) and improved cash flow by over $50 million annually: Implemented and chaired Division Cash Council. Set goals and objectives while introducing reporting measurements to review progress. Created Region Credit Liaison position and staffed with both internal and external candidates.
  • Reduced procure-to-pay expenses for Corporation and Divisions by 20%: Selected bank P card for implementation which also allowed for ease of use for operations and provided proper approval and tracking mechanisms for accounting and administrative functions.
 

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Dramatic cost reductions achieved utilizing Best Practices - Lean Six Sigma; Kanban; KPI metrics, Organizational Restructuring and Outsourcing.

David P. D'Angelo, CPA

CFO/CONTROLLER

Performance Results

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Proven leadership in financial management of acquisitions, corporate sales and IPOs.

David P. D'Angelo, CPA

CFO/CONTROLLER

Career Experience

HERTZ CORPORATION

Park Ridge, NJ (1996 - 2010)

Vice President, Controller, Hertz Equipment Rental Corp.

Promoted with full financial responsibility for the Worldwide Equipment Rental Division with peak annual revenues of $1.8B and adjusted pretax margins of mid 20% range. Dual reporting responsibilities to Division President and Corporate CFO. Managed 20 direct reports, 100 indirect, $1.5 billion budget.

 

K-C AVIATION INC., Subsidiary of Kimberly-Clark Corporation

Montvale, NJ (1990 - 1996)
$50 million Corporate Aircraft Management and Charter Company

Manager, Administration and Analysis, Northeast Sector

Acting General Manager providing leadership and direction for the Northeast Sector of this full service aviation company - aircraft maintenance, refurbishment management and charter as well as a personnel services company (pilots and flight attendants). Managed team of 50 responsible for Operations, Administration and Financial functions.

Previously, Financial Manager, Northeast Sector; Corporate Controller, Executive Jet International, Inc.

 

ERNST & YOUNG

New York, NY

Staff Auditor

 

 

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A strategic partner with demonstrated success in growing market share, profits and margins.

David P. D'Angelo, CPA

CFO/CONTROLLER

Contact David

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