Representative engagements include:
CFO (three and half years) for a nationwide retailer extending subprime customers 100% in-house financing for the purchase of household goods. Mr. Sax manages the accounting, finance, IT, underwriting, collections, recovery and legal departments. Strategic initiatives include overseeing a multi-year plan to collect out a residual $100 million consumer loan portfolio and the implementation of projects to improve operational performance.
CFO at a $250 million private equity owned Verizon Wireless authorized retailer with over 300 stores. Responsibilities included management of the finance, accounting, store fulfillment, merchandising, human resources and IT departments. Managed severely restricted liquidity, oversaw the implementation of several major IT infrastructure initiatives and restructured the buying and store fulfillment functions to facilitate sales of over 30,000 phones/month.
CFO and CRO (Chief Restructuring Officer) for Derek Lam International, a woman’s high end fashion designer, wholesaler and retailer. Responsibilities included restructuring and recapitalizing the business in order to effectuate the dissolution of a joint venture with the company's European equity sponsor, managing a near-term liquidity crisis, preparing a cash flow analysis and pro forma business plan, re-staffing & retraining the finance department and restructuring the company’s New York City real estate obligations.
CFO at John Hardy, a New York based international jewelry designer and manufacturer. Restructured, re-staffed and managed the finance and accounting departments. Oversaw financial planning and reporting, cash management, lender relationships and managed the financial relationships with the company’s largest customers.
Worked directly with the executive team and family ownership at Forbes Magazine. Advised the Board and equity sponsors regarding operational improvements and cost reduction initiatives. Assisted with recapitalizing the business and evaluated the impact and benefit of divesting Investopedia.com.
Advised the CEO, CFO and senior management at Liz Claiborne, a $4 billion public company, on their cash forecasting and management processes. Performed analysis of the company’s worldwide cash flow forecasting methodologies, evaluated domestic and international oversight of working capital and assessed the strategic shift of the company's namesake brand from traditional manufacturing and wholesale distribution to an exclusive licensing arrangement with JCPenney.
Advised the CEO and Board at Finlay Enterprises, a $1 billion jewelry retailer that operated over 600 licensed operations within major department stores and 125 company owned/operated jewelry stores. Analyzed strategic alternatives, developed an integrated business plan and facilitated the divesture of three retail divisions.