Executive Resume

Jim Knudsen345 North Lake Dr. Cataula, GA 31804

Phone: (706) 718-9770 Email: Jimkknudsen@gmail.com

Leadership Profile

Top-level executive who drives billion dollar global product development and marketing strategies with expertise in startups, turnarounds, acquisitions and reorganizations. Proven track record of success in business development, market share growth, operations, P & L and general management. International experience working from Brazil to Europe to China integrating global roadmaps and sourcing strategies to optimize manufacturing locations. Built sales and marketing organizations from the ground up by refocusing and redesigning distribution networks and implementing innovative product vitality. Dynamic team leader who creates incentive structures and cultivates engagement and commitment for long-term employee retention.  Business development leadership is exemplified by the following infographic:

Professional ExperienceHEATCRAFT WORLDWIDE REFRIGERATION (div. of Lennox International, Inc.), Columbus, GA($800M global manufacturer of refrigeration equipment and components)

Global Marketing Director (Global Segment Leader) – Food Retail and Foodservice 2011 to 2015 for the coordination of a global strategy for new product, business and marketing development of this $800,000,000 manufacturer of commercial refrigeration equipment reporting directly to the Vice President of Worldwide Product Development and Marketing.

Coordinated country specific product roadmaps with shared resources for globally develop products, including a joint Brazil/China project to optimize global manufacturing capabilities for a commodity product. Product increased sales in Brazil by $2 million in the first year and is being deployed globally.

Guided next generation product development to maintain product vitality (percent of revenue from products less than 3 years old) over 30%. This required development and upgrade of products representing 1/3 of the revenues every three years.

Investigated, targeted, and led multiple brand/product acquisition programs, each representing $20 to $80 million in revenue.

Led marketing and strategy on advance refrigeration products and systems, focusing on global regulations and trends. Products included natural refrigerants (CO2, Ammonia, and Hydrocarbons), Acoustic and Stirling Cycle refrigeration. These represented over $5 million in ARPA-E funding.

KYSOR WARREN (Acquired by Heatcraft in 2011), Colombus, GA($200M manufacturer of refrigeration equipment for food retail industry)

Vice President of Sales and Marketing 2002-2011Led all sales and marketing activities in the food retail markets, including technical service, customer service and parts sales reporting to the President and General Manager.

Grew the business from less than $75 million to $207million in 5 years. This included product strategy which more than doubled market share in key product lines.

Turned around the operational performance of the organization from a $15 million annual loss to over $2 million in profit and positive cash flow in two years. In five years increased profits to over $10 million.

Introduced industry benchmark products in Display Cases and Advanced Refrigeration Systems which doubled market penetration, $65million increase, and raised the profile of the company from an “also ran”, to a technology leader.

Evaluated and upgraded the field sales force initiating a program to add sales representatives and distributors to the direct sales channels resulting in an annual growth rate of 20% for 5 years, during an overall market decline.

Helped lead the due diligence and integration teams that successfully completed the acquisition of Kysor/Warren by the Lennox International organization.

PRINCE CASTLE INC., Carol Stream, IL ($80M manufacturer of equipment for foodservice industry) Vice President-Corporate Marketing and Business Development 1997 to 2002

Directed strategic planning and market development including product planning, promotions, international channel development, business plan development, product development and acquisitions for this $80 million manufacturer in the food service industry.

Introduced Implemented a product planning and development process based on product development teams and market-defined products. This resulted in 5 major new products in the first year, which will generate over $15 million in sales and allow for diversification of customer base.

Reorganized the servicing of Prince Castle's major account, McDonald’s, to provide more resources, international coverage, and better project management. Achieved while growing penetration into other major accounts. Netted 15 to 70% growth in revenues in each major account.

Led the growth through acquisition program. Identified candidates, coordinated due diligence, negotiated purchase contracts, and concluded acquisitions of 3 operations and 3 product lines. These additions to our portfolio increased revenues by over $25 million and provided extraordinary opportunities for future growth.

Oversaw a new venture, a new concept in frozen beverages, f’REAL!, both a branded food product and equipment system. In 8 months went from zero penetration to being considered by the largest C-store and QSR restaurant chain, as well as successful installation at several regional chains. Ultimately led to the closing of a $12 million roll-out and leading to the building of a $30+ million company.

Led a more focused and disciplined approach to markets and diversification, leading to a recapitalization of the business that provided funds for future growth through strategic acquisitions.

AEC/STERLING CORPORATION, Wood Dale, Illinois($120M manufacturer of auxillary equipment for plastics industry)

Vice President-Automation Division, Vice President Marketing and Engineering 1993-1997Responsible for the fastest growth product line areas including: P&L operations, management of multiple sales channels, and coordination/management of OEM product suppliers from Europe and the Far East for this $120 million manufacturer of auxiliary equipment for plastic and industrial markets, leading 50 engineers and designers and technicians.

Redefined the manufacturing process to allow modular assembly of robots reducing lead-time from 12 weeks to eight (8) weeks with the possibility of two (2) week delivery through stocking of subassemblies. While providing marginal cost savings (~3%), doubled customer service and reduced inventory by over 15%.

Implemented a product positioning strategy to provide cost and feature benefits at each price point. This included the industry’s first PC based servo robot controller, which provided CNC servo features at a 25% savings, compared to standard PLC’s.

Organized Sales, Engineering and Marketing departments to eliminate duplicate and unnecessary activities, reducing cost by $1million.

Through a market down turn in 1996 maintain sales level and increase market share in the critical “small traverse” segment. This was accomplished through improved sales tools, and customer service as well as expansion into foreign markets.

Achieved an estimated labor reduction of 20%, through parallel activities and testable subassemblies.

Vice President Engineering & Marketing 1993 to 1995Responsible for Marketing and Engineering as well as QA & Testing, Service Parts.

Restarted and refocused R&D on marketing driven, as opposed to sales driven, product development programs. This resulted in introducing nine (9) new or redesigned products in less than two (2) years with sales exceeding $8 million

Eliminated late orders, cut order processing time in half and improved quality and cost. Planned and implemented the most successful NPE show in the history of the company, which resulted in 2000

leads and over $10 million in sales. Initiated a new image advertising program which won several readership awards and helped turn around the

company image.

Reorganized marketing group into product management teams, including application engineer’s support for pricing, order processing, and sales support. This allowed these teams to focus on customer projects and eliminate errors which caused late deliveries, and quality issues.

Planned and presented the product strategies, technical capabilities, and incremental valuation as part of the management team’s effort to recapitalize the business. Generated interested in several candidates culminating of the sale of the company to the Harbour Group.

GSX (SEMICONDUCTOR SYSTEMS DIVISION), Freemont, CA ($15M manufacturer and marketer of capital equipment, semiconductor industry.)

Vice President of Engineering 1988 to 1990 Managed a 50 person-engineering group, which included manufacturing engineering, field/sales support, and R&D with an annual budget of $4,000,000.

Redefined and initialized a stalled development program for a new revolutionary product and went from an alpha site prototype to a manufactured system in 7 months.

Took the existing product line from a performance level and reliability that was un-shippable to the best in the industry in less than 1 year.

In a joint program with SEMATECH, a government supported consortium, proposed and participated in an advanced development program.

Proposed, wrote the business disclosure and negotiated the sale of 2 ancillary product lines.

GSX (BIF DIVISION), West Warwick, Rhode Island($23M manufacturer of equipment and instrumentation systems for the water treatment industry.)

Vice President Engineering 1985-1988 Managed engineering, quality assurance, and Customer Service groups.  Additionally, given responsibility for product marketing, as well as temporary roles managing P&L and the sales department.

Initiated and led cost reduction programs which resulted in savings of over $350,000 per year. Developed three (3) major product lines in three (3) years and cut product development time in half. Instrumental in revitalizing company by improving quality and production effectiveness, realigning staff, and

creating a marketing function and introducing new improved products.  Net Result:  Company reversed a 24% tax loss to profitability in two (2) years.

Established a product marketing organization, which included responsibility for pricing, margin targets, generating competitive information, and promotion.

BAILEY CONTROLS CO., Wickliffe, Ohio($200M manufacturer of instruments and instrumentation systems for the fluid process industry and electric utilities)

Manager – Mechanical EngineeringSupervisor – Measurement EngineeringGroup Leader – SensorsSenior EngineerEngineerAssociate Engineer

Progress positions in new product development engineering.

Launched and directed an extensive new product development program and moved it into production within projected time frame. Net Result: Product grew to $12,000,000 annual sales.

Managed a $500,000 new product development program, which was coordinated between the U.S. operations and a Japanese joint venture.

Provided liaison between Engineering and Marketing on major programs.

Education, Training & Certifications

M.B.A. (Executive), BALDWIN WALLACE UNIVERSITY, Berea, OhioB.S. - Physics (Cum Laude, MSU honors college) MICHIGAN STATE UNIVERSITY, East Lansing, MichiganCertified Food Service Professional – North American Food Equipment Manufacturers Assoc.

5 patents in sensor design and flow measurement, one patent pending. Publications on instrumentation technology and commercial refrigeration equipment.

Affiliations President of North Lake Home Owners Association Served on Church Council at Our Saviors Lutheran Church Volunteer - K9’s for Warriors

Key Accomplishments

A Worldwide Approach To Global Product Deployment (Infographic)

Key AccomplishmentsDriving Growth In A Declining Market

Situation:

After an initial turnaround in profitability, the business faced several dilemmas:1) low customer confidence; 2) a stagnant product offering; 3) much larger competitors; 4) sparse resources; and 4) a limited technical talent pool. The situation was further complicated because, not only was the competition formidable, but the customers represented some of the biggest companies in the world and they were aggressively pushing to commoditize products to force price competitiveness. A dynamic growth and customer loyalty strategy was urgently needed, with an innovative approach to sustain the turnaround long-term.

Action Plan:

1. Met with a wide range of customers as well as distribution partners, service providers and consulting engineers to bolster customer service and delivery to devise a cutting edge competitive advantage strategy.

2. Identified strategic “Alliance Partners” among the vendor community that could supplement engineering resources, lend credibility to the offering, and cross promote products to position the company equal to competitors and reduce costs through supply programs.

3. Implemented a “Listen, Respond, and Deliver!” employee-focused strategy to eliminate negative experiences and obtain customer testimonials of performance. The strategy emphasized the importance of meeting customer needs beyond organizational limits and on essential components of improving time delivery and lead times.

4. Created performance metrics to provide proof of improvement, identify problems and pursue efforts to correct gaps, sharing this structure with customers on plant visits to bolster credibility regarding corrective measures.

5. Developed a medium and long-term plan for product development to address gaps and shortcomings in the line and boost competitive advantage. Focused on providing sufficient performance improvements to eliminate disadvantages and to redesign the product line for dramatic cost reduction (>15%), improving industry leading performance and enhancing flexibility and manufacturability for customization.

Results:

Consistently achieved on-time delivery of 99+%, and lead-times were cut in half allowing company to respond when competitors could not meet customer needs. Quality level, as measured by warranty cost, dropped to less than 0.5% of sales. The focus on customer service and a promotional campaign with alliance partners improved processes and efficiencies with customers and gave us an advantage during the bid process, even in cases where our prices were higher than the competition. The company grew at an annual rate of 20% in a stagnant and declining market, from $75 million to over $200 million in revenue. Ultimately, one competitor went out of business, doubling our market share and providing us with the resources to engage in the aggressive longer-term product development program that resulted in an industry benchmark new product line.

Key Accomplishments Robust Product Innovation Doubles Market Share In Slow Growth Industry

Situation:

An old-line company (125-year history) with a stagnant product line needed to innovate to stay relevant and continue a growth trend. The industry was slow growth and the customers, using long-term bids, had moved product offerings toward commoditization. The new product required technology innovations to achieve cost of ownership goals and needed to be highly configurable to fit the customer’s application. Cost, technology, configurability and ease of manufacture were essential to the new product line success.

Action Plan:

1. Completed a rigorous Voice of Customer study that included surveys, interviews, and focus groups to assure the design details met the customer needs and represented an appropriate value for the function provided.

2. Engaged a multi-functional team to develop a platform-based product line which included internal and external engineering resources, sales, marketing, customer service, operations and sourcing.

3. Invested $11 million in capital equipment and tooling to develop a detailed product line specification with aggressive performance, cost, and manufacturability targets and new manufacturing lines to optimize the capabilities and benefits of the product.

4. Recruited pre-launch customers chosen from participating customers with industry-wide recognition to provide initial feedback and to contribute installed base experience which provided data for design tweaks for a more robust product line.

5. Executed the product launch through industry events, trade advertising, and sales training and promotion. Focused on customer visits to give in-depth views of the product and to support improvements in operations and customer service, and included an aggressive sales incentive that drove introductory sales and phase-out of existing product.

Results:

Increased the market share from 8% to over 20%, and advanced total product line sales from $40 million to over $100 million in a period of 3 years. The product release and introduction occurred only 2 years after the project kick off and through a phased introduction, previously thought to be impossible. This was the most successful launch in company history and was a benchmark for the industry as a whole, overcoming a series of difficult introductions and exceeding customer expectations for readiness, performance and quality. In 18 months, 100 % of customers converted to the new product and, other than the necessity for in-place replacements, the old product was discontinued.

Key Accomplishments Building Enterprise Value

Situation

The goal was to grow enterprise value and make it possible for the owner to make a reasonable return on divesting the company. At the start, the company was losing sales and operating at a loss. Revenue had dropped to less than 40% of its peak, and losses approached 20% of sales. There were few resources, a disorganized, recently moved factory, and quality and cost issues that made both customer acquisition and retention impossible.

Actions

Designed an action plan to build on progress, measuring results with simple metrics, and was continuously monitored. The steps taken were as follows:

1. Evaluated personnel to find the most talented people. Ensured they were challenged and supported. Identified the road blocks and make sure they were removed, and finally fill the holes (with minimal expense).

2. Focused internally - Got the factory organized and productive, eliminate the quality issues, and control costs. This was critically necessary to stop the bleeding of both cash and customers.

3. Focused externally –Researched to understand and meet the needs of the customers. Dealt with the sins of the past and opened the way for future improvement. One key aspect of this was engaging suppliers in formal partnerships that the company could promote. These partnership agreements involved joint marketing and shared technical roadmaps.

4. Strategic Direction - Through the process of internal and external focus, found a marketing opportunity. The customers greatly depended on the scheduling and delivered quality of the product. The product was typically installed as part of a construction project and a lot more than just the value of the product depended on schedule attainment. Concentrated on simplifying and shortening the order process and delivery time, while focusing on accurate and complete delivered product.

5. Product Development - Revamped the entire product line to give the company technical and marketing advantages. Using modern design and analysis techniques, the design could be both standard and custom, significantly more cost effective, and have a lower cost of ownership for the customer.

6. Promoted not only the product and the company but also the business success and progress to attract suitors as well as new business.

Results

The customer response was outstanding, as opportunities arose often outside of the bid process. The competitors’ customers found out that the company could deliver when the competitor failed. In fact, often it could deliver to the date that the competitor couldn’t, even though much the lead-time had already passed. The ultimate result was achieving the goal of selling the company. Through a series of approaches by potential purchasers who had noticed the improvement and dynamic growth of the company. Each offer was 2 to 3 times the previous value and ultimately the company was sold to a strategic buyer.

Executive Insights

Innovative Leadership for Long-Term Competitive Advantage and Growth

Bids and Contracts are Won before the EventProducts can be copied, specification advantages are often temporary. A business that adapts to the changing needs of the customer will have tremendous competitive advantage. Leverage comes from providing excellent customer service and being the company that is the easiest with which to do business. Making every stage of the relationship with the customer seamlessness is essential. While there are some exceptions to this – a competitor may dive in on pricing, a customer may change sourcing strategies, or a new product may dominate the market – these are usually short-term aberrations. Teams must be motivated to listen, set management and sales egos aside and to work enthusiastically together to put the customer at the forefront. Whether negotiating a large multi-year contract, a simpler project bid, or a reverse auction, the winning organization will be the one that over the long term has maintained stellar customer relationships.

Focused Sales IncentivesClarity regarding sales incentives and the establishment of measurable goals for a team will create performance excellence. While incentives can be controversial, too often concerns that sales representatives will be over-compensated can severely short-circuit the intent of an entire program. Start by determining exactly what is to be accomplished, measured through the bottom line, and by defining clear parameters for payback. This will avoid conflict between different constituent groups within a company and rally team members to meet high level goals.

Measuring Marketing InvestmentsMany business to business companies are reluctant to invest in marketing because they do not perceive the measurable results of marketing investments. However, as the old adage goes, it is often essential to spend money to make money. Clearly defining specific marketing inputs with specific measureable goals will bring clarity and focus to a marketing plan. Social media is an example. Every click on Facebook is channeled into a process through which goals are defined for enabling service, communicating product value or enhancing brand promotion. Effectiveness of marketing is quantified and effective creation of content with bold value for the consumer is the result.

Encouraging and Evaluating InnovationEngineering and product development projects can be difficult to manage, particularly with regard to schedule and cost. Many companies have implemented “Stage Gate” or similar processes to get a handle on this. These approaches may work well for evaluating progress and managing risk but they often do not promote innovation. Cleary, it is difficult to determine the exact pace and point of an innovative idea, but rigorous effort must be made to provide the environment and climate for innovation. This includes ongoing engagement with customers to obtain feedback regarding their changing needs and having on staff top-notch tech employees who are encouraged to spend time investigating new procedures to meet those needs.

Lean ManufacturingWhile no longer new, the techniques and principles of Lean Manufacturing have proven to provide a comprehensive tool box of techniques to build a culture of productivity into an organization. The elimination of waste in all its forms and full understanding of the value stream leads to not only productivity and reduced cost, but engages employees to contribute to their personal and the organization’s success. The techniques can be applied well beyond the shop floor to include customer service, logistics and most administrative functions.

Growth through AcquisitionAcquisitions are a dynamic way for an organization to move beyond traditional markets, add new capabilities and product lines, address competitive threats, change the cost structure, or adjust to changing conditions in the marketplace. The key to growth through acquisitions is to have a defined goal and criteria for targets of acquisitions with a rigorous

review that includes not only financial measures but a cultural and channel fit. Negative synergies need to be evaluated and ultimately a thoughtful and rigorous integration plan will need to be executed.