Patrick J. McDonnell

Particularly experienced in troubled situations requiring decisive change.

Well qualified by experience and interest to serve on Corporate Boards and Audit Committees.

 


Experience And Capabilities

    Key skill is strategic and tactical business problem solving, including organizing and directing processes to achieve results. Available to utilize broad financial, operational, bankruptcy, turnaround, strategic planning; and merger and acquisition experience to assist companies in transition to assess circumstances, evaluate alternatives and opportunities, formulate responsive plans and execute in a meaningful manner. Experienced in the management of public and private professional services firms. Also experienced in manufacturing, distribution and financial services. Experienced with distressed companies. Consistent record of success.

Recent Projects

    $15 million manufacturer of medical devices. Currently directing a financial recovery plan. In less than ninety-days, the company has established positive cash flow through cost cutting and margin improvement, reduced AIR and inventories, brought NP current and negotiated waivers with the bank. Now in the process of reviewing all internal processes to enhance efficiency and improve gross margin. Strategic alternatives now being evaluated.

    Advisor to a company providing technology based management services to the franchise industry. Services have included strategy development, identifying product offerings, and partnering opportunities. Now assisting in implementing the vision.

    $450 million manufacturer and distributor of industrial safety products. Successfully completed a six-month assignment as acting COO. Restored troubled company to profitability by substantially reducing operating cost, reducing and realigning corporate wide human resources, improving margin by enhanced pricing and inventory control, and reorganizing and refocusing sales effort. Also established appropriate financial and operational controls to support substantially higher profitable sales volume.

    $60 million distressed publisher and distributor of books. Developed a plan to reduce inventories, improve sales and operational cash flow and position company for a strategic transaction.

    $25 million manufacturer and distributor of medical supplies. Evaluated alternative proposals for implementing a new system of financial and operational control.

Career Summary

    July 2000 to Present

    President & CEO of The McDonnell Company LLC

    September 1999 to June 2000

    President & CEO of Jordan Professional Services, a Jordan Industries, Inc. company.

      Retained to create a professional services firm of accounting, audit and consulting firms to provide outsourced services to the middle and larger corporate market. Evaluated a broad spectrum of privately held professional services firms ranging in size from $5 million to $25 million in revenue. Concluded the project was not viable and terminated it.

      Successfully completed consulting projects for Jordan Industries, Inc. companies.

    September 1998 to September 1999

    President & COO of LAI Worldwide, Inc.

      Responsible for all operations for LAI, one of the top five executive recruiting firms in the U.S. and the only one publicly registered at the time. Revenues were $90 million.
      Member of the Board of Directors.

      Enhanced operating controls, reduced cost and terminated and unwound an unsuccessful international initiative that was losing $1.5 million per month. Facilitated the sale of LAI to TMP Worldwide, Inc. and effected an integration with TMP.

      The sale was closed in August 1999.

    June 1970 to September 1998 Coopers & Lybrand

    1993 to 1998 Vice Chairman, Business Assurance

      Senior member of firm management responsible for the largest line of business with 1998 revenues of $1.25 billion. Over the period from 1993 to 1998, this practice was consistently among the largest and fastest growing in the Big Six.

      Beginning in 1993, oversaw the transformation of the business with the introduction of technology to better manage and serve clients and developed value adding new services that aggregated $300 million in 1998. Enhanced audit processes resulted in substantial savings in personnel and operating costs. Effected substantial cultural change.

      From 1996 to 1998, also Chairman, International Accounting and Audit Board, a group comprising the leaders of member firm audit practices, responsible for replicating the aforementioned assurance processes and products throughout the global Coopers & Lybrand firm.

      In the merged PricewaterhouseCoopers firm, was the Director of Global Assurance Services, one of five senior partners responsible for the $6 billion global merged practice.

    1992 to 1993 Vice Chairman, Client Service and Relationship Management

      Responsible for enhancing the service to, and profitability from, client relationships. Introduced programs to monitor client satisfaction and to increase client penetration with value adding services. Also developed and introduced industry based client targeting and relationship management programs firm wide. Financially and culturally very successful.

    1991 to 1992 Vice Chairman, Midwest Region

      One of six Regional Vice Chairmen, responsible for a multi-services business in twenty-one offices in ten states. Established focus on revenue production and organizational efficiency.

    1990 to 1991 Managing Partner, Chicago Office

      Energized an under invested practice, restoring it to growth and profitability.

    1985 to 1990 Managing Partner, Hartford Office

      Rebuilt a troubled practice, restoring its growth and profitability.

    1970 to 1985 Practice Professional, Detroit

      Served clients from entrepreneurial to Fortune 500 in manufacturing, health care and financial services. Developed excellent client service, decision-making and technical skills. Admitted to the Partnership in 1979.

Personal

    Education

University of Notre Dame BBA, 1965
University of Michigan MBA, 1970

    Military

Commissioned Officer, U.S. Marine Corps, 1965 to 1968

    Affiliations

Principal in the Dorado Fund, a VC funding the initial operations of health care related technology companies.

Member of the Board of Directors, and the Audit Committee of SS&C

Technologies, Inc., a $70 million SEC Registrant provider of accounting software and services to the financial industry.

Former member of the Board of Directors of LA! Worldwide, Inc., a SEC Registrant Executive Search and Consulting firm.

Author of Everybody Wants To Go To Heaven Six Steps To Organizational

Excellence. Publication in Summer 2002.

Member American Institute of Certified Public Accountants.


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