Edwin Hagstrom
Las Vegas
Summary
Financial leader with extensive experience in turnaround management and strategic planning at Superior Lighting. Transformed a $2.4 million loss into profitability through innovative cost reduction and cash management strategies. Recognized for strengthening financial controls and promoting team collaboration to achieve organizational goals.
Overview
55
55
years of professional experience
Work History
CEO/CFO
Superior Lighting
Omaha
01.2004 - 01.2025
- Developed reporting alerting management to a liquidity crisis allowing the company to avoid a forced liquidation.
- Reorganized and refinanced the new company, reducing employment 50% and moved company to profitability from a $2.4 million loss.
- Implemented a new capital structure providing increased liquidity and reduced interest expense.
- Obtained forgivable Payroll Protection Loans of $1.6 million.
Controller
Land and Sky
Lincoln
01.2001 - 01.2003
- Direct Financial, IT and Human Resource functions for a $15 million specialty mattress manufacturer.
- Introduced new product line that generated $250K cash flow in first month.
- Reduced costs over $350M.
- Improved receivables turnover 10 days.
President and General Manager
Nashua Label Products
Omaha
01.1995 - 01.2000
- Full profit and loss responsibility for an $85 million manufacturer of pressure sensitive labels.
- Integrated $40 million acquisition.
- Achieved record sales and earnings.
Controller
Nashua Label Products
Omaha
01.1995 - 01.2000
- Directed the financial, IT and procurement functions.
- Developed justification for $4 million capital expenditure program that generated over $1.2 million annual savings in waste reduction and productivity improvement.
- Increased profitability over $300K eliminating unprofitable customers.
- Saved over $500K through identification of root causes for quality returns reducing returns from 2% of sales to .8%.
- Reduced month-end closing cycle to 5 days from 8 days through automation of reporting functions.
Chief Financial Officer
ANAMET Inc.
Waterbury
01.1991 - 01.1995
- Complete financial management of a $125 million manufacturer of flexible metal hose and electrical conduit. Operations in North America and Europe.
- Renegotiated $15 million loan package.
- Obtained $3 million in new financing.
- Reduced overhead costs $400K.
Chief Financial Officer
Contromatics, Inc.
East Hartford
01.1990 - 01.1991
- Managed finances for a $13 million manufacturer of valves sold to commercial and government markets.
- Stabilized relations with banker and vendors until company could be sold.
Director Corporate Finance
The Stanley Works
New Britain
01.1970 - 01.1990
- Directed the global management of cash flow, debt, investments, foreign exchange and bank relationships of a $2 billion multinational.
- Implemented $100 million commercial paper program.
- Obtained $70 million ESOP financing.
- Developed basket of foreign currency borrowings to hedge net asset position.
Director, Corporate Credit
The Stanley Works
New Britain
01.1970 - 01.1990
- Administered $100 million receivables portfolio and staff of 18.
- Implemented new computer system to permit decentralization of credit and collections function.
General Accounting Manager
The Stanley Works
New Britain
01.1970 - 01.1990
- Responsible for labor accounting, payroll, invoicing, payables, receivables, statement and budget preparation and other general accounting duties of a $100 million division. Supervised a staff of twenty-two.
- Implemented piecework labor reporting system.
- Directed productivity improvement program generating over $1.2 million annual savings.
MIS Positions
The Stanley Works
New Britain
01.1970 - 01.1990
- Held positions of increasing responsibility in divisional and corporate MIS staff including systems analyst, EDP manager and financial systems manager.
Education
B.S. - Business, Concentration Accounting
University of Hartford
Management Development Program -
Hartford Graduate Center
Executive MBA Program - Omaha
University of Nebraska
Skills
- Cost reduction strategies
- Cash management
- Asset-based financing
- Information systems
- Inventory management
- Cost accounting practices
- Strategic planning
- Turnaround management
- Financial controls
Personal Information
Title: Controller/Chief Financial Officer
Professional Community Activity
- Board of Directors, Omaha Better Business Bureau
- Board of Finance, Barkhamsted, CT
- Founder and Chairman, National Home Center Credit Association
- Loaned Executive, United Way
Technology Skills
- Advanced user of Microsoft Office Suite
- Crystal reporting
- SI Systems
- Visual Manufacturing ERP
- Oracle based financial reporting system
- Detailed knowledge of business system design
- AS/400 based systems
- PC-based LAN using wireless technology
- SI Systems for Contractors
Timeline
CEO/CFO
Superior Lighting
01.2004 - 01.2025
Controller
Land and Sky
01.2001 - 01.2003
President and General Manager
Nashua Label Products
01.1995 - 01.2000
Controller
Nashua Label Products
01.1995 - 01.2000
Chief Financial Officer
ANAMET Inc.
01.1991 - 01.1995
Chief Financial Officer
Contromatics, Inc.
01.1990 - 01.1991
B.S. - Business, Concentration Accounting
University of Hartford
Management Development Program -
Hartford Graduate Center
Executive MBA Program - Omaha
University of Nebraska
Director Corporate Finance
The Stanley Works
01.1970 - 01.1990
Director, Corporate Credit
The Stanley Works
01.1970 - 01.1990
General Accounting Manager
The Stanley Works
01.1970 - 01.1990
MIS Positions
The Stanley Works
01.1970 - 01.1990
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