Summary
Overview
Work History
Education
Skills
Affiliations
Timeline
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Larry Polizzotto

Larry Polizzotto

CFO, VP Finance
Phoenix,AZ

Summary

CFO / VP FINANCE / PRESIDENT / VP SOURCING / VP BUSINESS DEV

Global strategic and execution focused executive with broad technology, industrial and consumer experience at S&P 500 to VC and PE companies. Versatile business, finance, problem solving, operational, technology and communications skills. MBA and BS Engineering degrees.



Overview

37
37
years of professional experience
7
7
years of post-secondary education

Work History

VP Corporate Finance

Shutterfly Inc
05.2022 - 02.2023
  • Responsible $2B company's Financial Planning & Analysis, Strategy, M&A, Systems, Capital, Liquidity, Operating Expenses
  • Rebuilt team, improved P&L forecast accuracy to 99%, gained senior leadership respect, reduced OPEX and CAPEX 10%, improved cash conversion cycle by 15%, reduced capital expenses by 15%, completed new annual operating plan that tripled revenue growth rate and increased EBITDA 65%
  • Proposed 3 M&A transactions and 4 strategic partnerships that would accelerate revenue growth to 10%+ and balance seasonality
  • Created financial system based on Oracle EPM/Hyperion/SAP w/real-time P&Ls, balance sheet, cashflow, operating KPIs

Consultant to CEO and COO

Local Motors Inc
09.2020 - 02.2022
  • $25M revenue, Electric Autonomous Shuttle Vehicle start-up.
  • Created AOP and reduced monthly ’20-21 OPEX & cash burn by 26%
  • Established working capital & capital plan to support volume growth
  • Created TCO product strategy to achieve 25% leadership share, cost parity with gas/diesel shuttles and scale volumes to profitability by ‘24
  • This included 5 year financial & product plans, cash flow, capital required and $95M funding needs
  • Led sourcing & procurement to cut product cost 50% by partnering w/suppliers who shared vision for advanced battery, AI, lidar, radar, camera, charging, autonomous software, display, steering, braking & mech systems to drive growth

CFO & VP Shared Services

Nammo Defense Systems Inc
01.2020 - 09.2020
  • $600M revenue created from 6 acquisitions
  • Responsible for Finance, Accounting, HR, IT, Health, Environment, Facilities, 6 Sigma, M&A
  • Developed a comprehensive $45M capital investment strategy to modernize and grow US sites and IT, consolidate sites to cut operating costs 20%, sell and exit $20M business & drive positive cash flow
  • Presented to BOD and received approval
  • Created new business KPIs to drive improved profitability, operating performance, cash flow and HESS
  • Hired 5 new Director reports to consolidate shared services across 6 US sites, integrate M&A and reduce cost 20%
  • To drive efficiency and consolidate 6 acquisitions implemented new IT, Paychex payroll, Deltek and HR software systems
  • Implemented 6 Sigma across Nammo with several projects at each site to reduce cost, cycle time, inventory and scrap

CEO Senior Advisor

TruTag Technologies
02.2017 - 01.2020
  • $50M revenue. VC start-up, semiconductor & hyperspectral imaging anti-counterfeiting solution
  • Developed TAM opportunity, market prioritization and business/technology strategy to move from development to commercialization
  • Led focus on pharma drugs, food, alcohol anti-counterfeit protection & food safety from pathogens
  • Identified target investors and raised $50M series B & C VC and strategic financing to support growth
  • Built relationships with 7 major global pharmaceutical companies that are now implementing TruTag on important pills
  • Met with major US food distributors/retail to agree to test hyperspectral imaging in food supply chain to reduce pathogens

President & CFO

HZO Inc
07.2015 - 01.2017
  • 1B revenue, VC & PE Board, Disruptive nano-coating materials tech.& mfg that protects electronics from liquids for consumer electronics & industrial brands
  • Responsible for Finance, Sales, Supply Chain, Strategy, HR, Legal, IT, Facilities
  • Strengthened Finance and Accounting team to manage/reduce burn-rate 25%, improved accounting processes & controls to pass first audit and developed 4-year financial plan to move from development to revenue generation and positive cashflow
  • Drove 135% planned sales increase and improved operating margins
  • Grew project pipeline to $550M and 88 customers
  • Raised $24M of increased VC investment & $15M bank financing
  • Gained another $50M investment and $15M debt
  • Implemented Salesforce, Oracle NetSuite ERP, IT and HR systems to support growth
  • Responsible for establishing/negotiating 4 new China factories to support new customers Apple, Amazon, Ford, Samsung etc
  • Priced and negotiated key customer contracts
  • Negotiated supplier sourcing deals to reduce material and equipment costs.

CFO and VP Sourcing & Procurement

Honeywell International
01.2012 - 05.2015
  • Vice President Electrical Aerospace & Defense Sourcing & Supply Chain. $5B spend, 950 suppliers, 150 staff, 2013-15
    - Drove 4+% annual cost savings to EBITDA, improved quality & delivery 15% on $2B Electronic & EMS/CEM material spend & $3B for design-to-spec subcontracts by leading global supplier strategy, selection, relationships, negotiations
    - Created strategy to simplify supply chain to best of breed, vertical integration, dual source, value engr., full life cycle
    CFO Aerospace & Defense Sourcing & Procurement, $14B material and subcontract spend. 3000 global suppliers 2012-13
    - Increased save from 1% to 4-5%/yr by integrating with manufacturing, R&D, suppliers & marketing & changing culture

VP Finance and Investor Relations

First Solar Inc
05.2008 - 01.2012
  • Solar energy leader market cap $20B, $4B rev, S&P 500 2008-2012
  • Vice President Finance, Investor Relations, Banking, Strategic Partners, M&A, Insurance & Communications skills
  • Recognized by Institutional Investors Magazine and recipient of the highly coveted “All American Executives” award for Best Investor Relations Professional in 2010, 2011, 2012 by buy and sell-side. Result of a successful IR start-up after IPO
  • Built a high-quality long-term shareholder base and increased sell-side coverage from 19 to 57 global analysts

Finance Executive Director

Dell
05.1997 - 05.2008
  • CFO / Exec. Dir. Finance Consumer Retail, Services & Online Business, Investor Relations, 2005-2008
    • Drove a 25% profit improvement in a $500M P&L as CFO responsible for all finance, accounting, and budgets
  • Executive Director Suppliers, Business, Product and Advanced Disruptive Technology Development, 2003-2005
    • Led business, marketing, supplier sourcing & engineering team focused on semiconductors & imaging created $1B revenue
  • Executive Director Dell Corporate Planning, Budgets, Strategy, M&A Reported to CFO, 2001-2003
    • Doubled revenues to $60B by leading division and C-level executives to create strategic and annual operating plans
    • Achieved EPS goals 10 quarters by re-engineered P&L & Cash forecast/annual operating plan process. Cut costs 10%
    • Reviewed quarterly operational, cash metrics, strategy and M&A proposals with C-level executives and Board of Directors
  • Director Cloud Computing/Hosting Service/SaaS- Suppliers, Finance, Business Dev. Marketing, Operations 2000-2001
    • Led the start-up of SMB & Consumer Hosting & SaaS services which grew to 16K customers, $50M revenue 1st year
    • Developed global market & business plans / roadmaps, hired 17 professionals, negotiated supplier services contracts, created service product offerings and e-commerce site. Executed operations to achieve sales and customer satisfaction
    • Negotiated the business sale to Sprint for a $125M gain
  • Director Enterprise Servers & Storage – Finance, GM, Strategy, Supplier Sourcing, Bus. Dev., Marketing 1997-1999
    • Led an executive team to start-up Dell’s storage systems business and grew revenue to $500M year 1; $5B in 5 years. Developed marketing, technology, and financial strategic plans, negotiated with suppliers and received BOD approval to hire 150 people. Established international operations and launched an innovative product line • Grew server revenue from $.3B to $6B, #2 share by preparing comprehensive server financial & business launch plans
    • Proposed and analyzed strategic M&A transactions to accelerate the growth of the server and storage business
    • Developed business models, pricing, marketing programs, manufacturing strategies and negotiated alliances to grow
    • Worked with regional sales GMs to create strategic and operating plans and shared best practices to expand globally

Finance Director

IBM Corporation
05.1985 - 05.1997
  • Program Director Finance, Pricing, Product Planning, Marketing – RS/6000 Server and UNIX Software, 1995-1997
    • Managed Pricing, Business Planning and Product Marketing and made $2B investments for $15B in revenue for server, microprocessor, semiconductor, and software products
    • Received CEO Award for leading cross-divisional marketing and strategy teams for IBM server, software, and microprocessor brands with annual sales of $20B that resulted in brand repositioning and new growth initiatives
  • Senior Manager Software Finance Operations and Planning, Venture Capital, M&A, 1994-1995
    • Analyzed Lotus & Tivoli software acquisitions of ~$5B which started IBM’s transformation to a software company
    • Managed $2B expenses and established client, server, Internet software financial team to launch software and services
    • Drove software sales by evaluating and negotiating $50M partner application funding for venture capital investments
  • Manager Business Development, Planning, Sales, Pricing – RS/6000 Server and UNIX Software, 1989-1994
    • Marketed and negotiated pricing and terms for $950M in large global OEM sales, joint ventures, IP licenses, development, manufacturing and equity partnership contracts for the server, software, and semiconductor divisions
    • Managed $1B budgets for the strategic IBM, Apple, Motorola PowerPC microprocessor and software alliance
    • Grew strategic server revenues to $3B by creating new compensation incentive plans
    • Created server product market positioning and financial optimization model to grow to $1B in sales in the first year
  • Staff Financial and Cost Analyst – IBM/ROLM Telecommunications and Disk Drives, 1985-1989

Education

MBA - Finance & Marketing

Kelley School of Business, Indiana University
Bloomington, IN
08.1983 - 05.1985

Bachelor of Science - Industrial Engineering – Production & Complex Systems

Purdue University
West Lafayette, IN
08.1978 - 05.1983

Skills

CFO, Corporate Financial Planning Analysis and Development

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Affiliations

Institute for Supply Management
• Keynote speaker 2016 ISM Annual International Conference: Strategies for Driving Cost Productivity Through People, Partnerships, Product and Process

Austin Chamber of Commerce, 2005-2008
• Chairman Economic Development & Technology Committee responsible for attracting 700 businesses to Austin and supporting growth of existing businesses which contributed to Austin job growth at twice the national average
• Member of the Education committee that worked with local educators to provide employees to meet business needs

Timeline

VP Corporate Finance

Shutterfly Inc
05.2022 - 02.2023

Consultant to CEO and COO

Local Motors Inc
09.2020 - 02.2022

CFO & VP Shared Services

Nammo Defense Systems Inc
01.2020 - 09.2020

CEO Senior Advisor

TruTag Technologies
02.2017 - 01.2020

President & CFO

HZO Inc
07.2015 - 01.2017

CFO and VP Sourcing & Procurement

Honeywell International
01.2012 - 05.2015

VP Finance and Investor Relations

First Solar Inc
05.2008 - 01.2012

Finance Executive Director

Dell
05.1997 - 05.2008

Finance Director

IBM Corporation
05.1985 - 05.1997

MBA - Finance & Marketing

Kelley School of Business, Indiana University
08.1983 - 05.1985

Bachelor of Science - Industrial Engineering – Production & Complex Systems

Purdue University
08.1978 - 05.1983

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Larry PolizzottoCFO, VP Finance