DRIVING MARGIN EXPANSION THROUGH STRATEGIC ANALYSIS AND TACTICAL DECISIONS

Summary

Peter Tirana
EXCELLENCE BY DESIGN, SUCCESS THROUGH EXECUTION       I like solving problems to improve the bottom line.  I listen to people for ideas and then enable/engage them to change.  This also increases buy-in during implementation.
I am a proactive financial executive focused on increasing profits, not just reporting them. My experience in leadership roles spans:

MANUFACTURING | CONSUMER PACKAGED GOODS | PHARMACEUTICALS

TRACK RECORD OF SUCCESS:
  • Creating/sustaining competitive advantage, growth and results
  • Innovative corporate strategy and business process excellence  
  • Business partner providing insight on the leadership team
  • Train / mentor / coach cross-functional teams to drive change 

DEMONSTRATED LEADERSHIP SKILLS: 
  • Analytical agility
  • Financial acumen
  • Vision (strategic, tactical)
  • Judgment and Integrity
  • Customer focus 


OWNERSHIP AND ACCOUNTABILITY:
? FINANCIAL PLANNING & ANALYSIS (FP&A):
Direct the annual operating and capital plans with monthly P&L and balance sheet forecasts.  Analyze ROI for NPD stage gate business cases, R&D investments and M&A deals.  Prepare Board of Director presentations, quarterly earnings releases and the 5-year STRAP.  

? DIVISION  |  BUSINESS UNIT MANAGEMENT:
Oversee financial functions and management reporting for multiple sites.  Support commercial and manufacturing organizations at all levels (plant, division, corporate).  Ensure compliance, reduce risk and implement internal controls.  Drive working capital and FCF initiatives. 

KEY COMPETENCIES: 
Strategic Planning  |  Business Strategy  |  Management Reporting
Financial Modeling  |  Financial Analysis  |  Budgeting & Forecasting
P&L Management  |  Profitability Analysis  |  Variance Analysis
Business Modeling & Valuation  |  Mergers & Acquisitions (M&A)
Working Capital & FCF  |  Finance & IT Transformation
Business Process Improvement  |  Change Management
 

Actively seeking new opportunities.
Contact me at 203-273-4459 or petertirana@gmail.com.
More at LinkedIn

Timeline

  1. -
    VP Finance, Heating & Hot Water Solutions, Watts Water Technologies, Inc.

    $350 million division of $2.0 billion global manufacturer with 4,600+ employees.
    Reporting to corporate CFO, lead team of 21 across 7 sites. Drive operating margin expansion through footprint consolidation. Grow sales with visibility to global consolidated margin (net of transfer pricing) and product hierarchy. Prepare monthly P&L / balance sheet forecasts, quarterly earnings releases / BOD presentations, the 5-year STRAP and annual operating / capital plan.
    • P&L Management
    Executed 7 price increases 2021-22 ($27 million) & productivity savings ($9 million annually).

    • Variance Analysis
    Deployed price, volume, mix model and P&L scorecard, expanding 2022 sales 25% and OI 242%.

    • Working Capital & FCF
    Improved WC (from 30% to 20% of sales) & free cash flow (from $11 to $26 million) in 2022.

    • Change Management
    Integrating 4 new sites, 4+ brands, 3 new ERP, and 5 employees into the division in 2023.

  2. -
    Finance Director, Heating & Hot Water Solutions, Watts Water Technologies, Inc.

    $350 million division of $2.0 billion global manufacturer with 4,600+ employees.

    • Profitability Analysis
    Achieved $4 million revenue synergies & $3 million cost savings from 3 M&A integrations.

    • Finance & IT Transformation
    Drove robotic process automation (RPA) & 3 ERP consolidations, saving 7 heads (39%).

    • Business Strategy
    Directed 2 union negotiations, facility exit, facility relocation, restructuring & NPD business cases.

    • Working Capital & FCF
    Improved working capital as % sales from 26 % to 21% and FCF from $7 to $16 million.

  3. -
    Lean Six Sigma Black Belt Certification, Six Sigma Academy (SSA & Company)

    Certification program.

    • Classwork completed
    • Capstone project pending
  4. -
    Conultant, Process Improvement Service Line, Ernst & Young LLP (now DBA Capgemini)

    Global Big Four audit, tax and consulting firm with $4.3 billion in revenue and 20,000+ employees.

    • Finance & IT Transformation
    Designed and built a shared services organization for multi-state 39-hospital system to save $300M.

    • Business Process Improvement
    Consolidated 600 financial reports (40%), saving 20,000 hours in chart-of-accounts conversion.

    • Strategic Planning
    Designed strategic plans to address competitive business issues and minimize operating risk.

    • Mergers & Acquisitions
    Performed M&A due diligence on organizational structure and valuation assumptions. 

  5. -
    MBA, Kellogg School of Management (Northwestern University)

    Master of Business Administration - Management & Strategy, Marketing

    • Earned 2nd place in corporate case competition for US Cellular customer acquisition model.
    • Led onsite China market entry study for Miller Brewing Co. to develop brand strategy
    • 1998 winner and 1999 chair of 35-team consumer packaged goods (CPG) “Brand Challenge” fundraiser.
    • Promoted a $75K charity fundraiser in 1998 and headed its Entertainment Committee in 1999.
  6. -
    VP, Strategic Planning & Operations, Natural Golf Corporation

    Pre-IPO golf instruction and equipment manufacturing startup with $17 million in revenue and 50+ employees.

    • Strategic Planning
    Achieved 65% annual revenue growth via investment in market channels / portfolio expansion.

    • Budgeting & Forecasting
    Negotiated $3 million in cost control, saving $1 million spend reduction in first year.

    • Financial Modeling
    Created activity-based capacity / pricing model and increased profit margins 59% and yield 30%.

    • Business Modeling & Valuation
    Wrote business overview & prospectus and presented to investors, raising $4M in private placement.

  7. -
    Financial Operations Manager, Perrigo Company plc

    $320 million subsidiary of global $4.6 billion pharmaceutical company with 10,000+ employees.

    • Working Capital & FCF
    Reduced aging receivables from 17.5% to 0.5%, despite 95% increase in sales and 25 new customers.

    • P&L Management
    Collected $5.3M in 2005 and $4.4M in 2004 in customer repayments for disputed allowances.

    • Finance & IT Transformation
    Developed over 100 system requirements to improve efficiency (reduced staff by 30%, from 10 to 7).

    • Cost Accounting
    Redesigned Chart of Accounts and cost center allocations, implementing activity-based cost models.

  8. -
    Plant Controller (comparable to Director level) , Perrigo Company plc

    $320 million subsidiary of global $4.6 billion pharmaceutical company with 10,000+ employees.

    • Budgeting & Forecasting
    Directed / influenced FP&A for $330 million annual plan and $7 million CAPX investment.

    • Financial Analysis
    Provided strategic insight (product line profitability), driving revenues 164% and margins 643%.

    • Business Modeling & Valuation
    Performed due diligence and built financial models for $100 million in deals.

    • Business Strategy
    Led goal deployment process for customer service, reducing lost sales and penalties by $2 million.

  9. -
    Site Lead, Continuous Improvement & Manufacturing, Perrigo Company plc

    $320 million subsidiary of global $4.6 billion pharmaceutical company with 10,000+ employees.

    • Change Management
    Implemented management operating system, realizing 21% headcount savings ($6 million).

    • Business Process Improvement
    Led kaizens and teams which improved downtime 75% ($3 million) and increased output 16%.

    • Management Reporting & KPIs
    Developed Sharepoint ROI scorecard to track productivity initiatives (e.g. $2 million scrap reduction).

    • Coaching & Development
    Built production engineer team and mentored 16 greenbelt certification teams.

Proudest Accomplishment

Helping build the fastest growing golf improvement technology company and leading pre-IPO strategy.

Experience Highlights

  • VP Finance, Heating & Hot Water Solutions
    Watts water technologies inc, 2022 - present
  • Finance Director, Heating & Hot Water Solutions
    WATTS WATER TECHNOLOGIES INC, 2016-2022
  • Consultant, Process Improvement Service Line
    Ernst & young llp (now dba capgemini), 1996-1998
  • VP, Strategic Planning & Operations
    Natural golf corporation, 1999-2002
  • Financial Operations Manager
    perrigo company plc, 2002-2005
  • Plant Controller (comparable to Director level)
    Perrigo company plc, 2005-2012
  • Site Lead, Continuous Improvement & Manufacturing Support
    Perrigo Company plc, 2012-2015

Education Highlights

  • Train the Trainer Certification
    Certified 2015, management training consultants
  • Lean Six Sigma (LSS) Green Belt
    Certified 2009, Perrigo company plc
  • Lean Six Sigma (LSS) Black Belt
    enrolled in Six Sigma Academy program, 2015-2016
  • Stanford University
    BA, Psychology
  • Stanford University
    BS, industrial engineering
  • Kellogg School of Management
    mba, Management & strategy, marketing

Interests: professional

  • Association for Manufacturing Excellence (AME)
    Member 2012 - 2015
  • Financial Executives Networking Group (FENG)
    Member 2016 - present
  • Public  Speaking / Presentation Skills
    Internal and external Train the Trainer certification workshops to improve my skills
  • Business Books
    Audible account to maximize my commute time
  • Lean Six Sigma (LSS)
    green belt, 2009      black belt pending, 2015-16

Interests: Personal

  • Writing a Novel
    “Degenerate Hypocrisy”, currently (still) editing.
  • Texas Holdem
    reading tells in monthly private poker game since 2010
  • Boy Scouts of America (BSA)
    Former boy scout, now active with the greenwich council
  • Sports / Fitness
    body surfing, Beach volleyball, running

Results & Responsibilities

  • $100M
    Value of 3 M&A deals executed
  • $80M
    of inventory managed (reserves, cycle counts)
  • $60M
    budgets managed in annual FP&A process
  • 75%
    reduction in line downtime ($3M annual savings)
  • 21%
    fte Headcount reduction ($6M Annual savings)
  • 920%
    increase in Plant's rx/otc gross profit 2008-2015

Skill sTRENGTH/ RELEVANCE rank 1-10

  • CHANGE MANAGEMENT
    6
  • LEAN SIX SIGMA (LSS)
    6
  • OPERATIONAL EXCELLENCE
    6
  • PROJECT MANAGEMENT
    7
  • TEAM BUILDING
    7
  • WORKING CAPITAL MANAGEMENT
    7
  • ROI MANAGEMENT
    8
  • KEY PERFORMANCE INDICATORS KPI
    8
  • PLANNING BUDGETS & FORECASTING
    10
  • FINANCIAL ANALYSIS
    10
  • P&L MANAGEMENT
    10
  • CONTINUOUS PROCESS IMPROVEMENT
    6
  • VARIANCE ANALYSIS
    7
  • BUSINESS INTELLIGENCE (BI)
    8
  • CORPORATE FINANCE
    9
  • EXECUTIVE MANAGEMENT
    9
  • CROSS-FUNCTIONAL TEAM LEADER
    9
  • STRATEGIC PLANNING
    9
  • BUSINESS PROCESS IMPROVEMENT
    6
  • MERGERS & ACQUISITIONS
    7
  • STRAP
    8
  • PEOPLE MANAGEMENT
    8
  • FINANCIAL REPORTING
    9
  • CORPORATE FP&A
    10
  • BUSINESS MODELING
    10

Questions & Answers

Why should we hire you?
There’s a reason I’m an MBA, not a CPA; I’d help you increase your profits, not just report them. My strength is in solving broad, complex business issues to deliver financial results.
What value do you bring to your employer?
I increase profits on both sides of the cost/revenue equation:
  • Savings from process improvements and metric analysis
  • Growth from better resource allocation and added capacity
How would your peers and staff describe you?
  • Reliable - I’m thorough and take pride in my work.
  • Insightful - I reflect on and explore possibilities.
  • Teamplayer - I listen and recognize others' contributions.
Describe your management / leadership style.
Communication... I set goals but expect feedback.
I define roles/responsibilities but hold people accountable.
I lead by example and manage by exception.
Describe what makes you stand out:
Short answer: RESULTS. I can bridge the gap between finance and operations to synthesize data into strategy. Then I make changes to drive results.
What are you known for?
Poor planning or execution can ruin a great idea. Therefore, I measure twice; cut once. I am careful upfront (e.g. defining scope, mitigating risks); then decisive.

Links

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Location

Greater New York City Area

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