Executive Resume
David Larson, CPA, MBA
3708 Clublake Train, McKinney, TX 75070
Phone: (214)-843-6800 Email: davidlarsonllc@gmail.com
Expertise
Financial and Operational Management, Corporate Reorganization and Restructuring, Turnaround
Strategy and Oversight, Lean Total Quality Management Process Implementation, Employee Training
and Development, Risk Management, Construction Expansion and Acquisition.
Leadership Profile
Financial and operational management executive with an unusually broad base of business skills. Excels at using
teamwork and innovation to create competitive advantage. Equally adept with data, processes and people. Expert in
applying Lean Principals to construction, manufacturing and distribution industries. Able to develop high-level strategic
plans, then drill down to redesign and reengineer individual departments and job sets. Outstanding critical thinker that is
good at analyzing a company’s corporate psychology, locating problem departments, employees or tasks, and resolving
them with minimal disruption. Understands how to motivate employees. Known for developing strategic vision while
focusing resources on delivering the greatest return on investment. Strong project management and work ethic.
Professional Experience
DW Distribution, Inc.
Desoto, TX
Consultant
2015 to Present
Financial and operational consulting for a family-owned and operated, two-step wholesale distributor of building
materials and millwork products, servicing markets in Texas, Oklahoma, Arkansas, Louisiana and New Mexico.
DW Distribution, Inc.
Desoto, TX
Vice President Operations
2004 to 2015
Responsible for engaging in all functional areas of the business at the executive level, developing strategic growth
projects, and improving effectiveness and efficiencies in operations. Planned and implemented risk management by
hedging price-volatile commodities. Improved management skills and processes. Developed Model Workplace Skills
training modules to define and improve company culture.
 Oversaw five distribution branches and four reloading locations for a family owned and operated two-step wholesale
distributor of building materials and millwork products with annual sales of $217M. Designed, built and opened three
branches on time and on budget.
 Forecasted the 2008 economic downturn and redesigned trailers to consolidate the transportation fleet, saving $1.6M
annually. Further improved transportation expense by over $560K/year by through the use of shuttles, on-site fueling
and improved routing.
 Implemented Lean Culture, resulting in:
 Distribution volume increase by 49% without adding employees.
 Manufacturing volume increase by 80% and adding only 20% more employees.
 Changed warehouse layout to increase efficiency and capacity by 72% without adding square feet.
 Achieved the highest branch operating profits in the company’s 60 year history.
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US Foodservice
Division Chief Financial Operator/Vice President of Finance
Dallas, TX
2001 to 2003
Reorganized habitually under-performing financial organization, making it top-tier. Increased total annual sales to $310M.
Implemented operational and financial control environment, including inventory, IT, credit contracts and general ledger.
Formally Kraft Foodservice, US Foods is the 10th largest private company in America.
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Improved return on investment (ROI) by 30% by increasing return on sales (ROS) and reducing working capital.
Improved the accounts receivable metric ranking from 32nd to 2nd. Improved Days Sales Outstanding (DSO) by 2.5
days and Days Inventory On Hand (DIOH) by 3.3 days.
US Foodservice
Regional Vice President / Controller
Arkansas, Tennesee, Kentucky
2000
Reorganized financial functions to improve efficiencies, effectiveness and bench strength. Increased sales to $303M. Led
strategic analysis and planning to support corporate directives.
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Obtained over $2M in economic incentives and built two new distribution centers.
Developed profitability analysis and statistical profiling by Sales Manager, Salesperson and Customer. Established
the automated report download, distribution and digital record retention system, saving ½ Full Time Equivalent (FTE)
for the district and significant expense.
Coordinated and implemented “best practices” within and between regions.
Received Finance Excellence Award for Finance Leadership & True Business Partnership, 2000.
US Foodservice
Vice President of Finance / Controller
Arkansas
1990 to 1999
Responsible for overseeing annual sales of $75M. Involved in all major focuses and key business strategy development
and implementation. Improved Return on Investment capital to consistently the top 5% in the company. Developed
Nursing Home, Convenience Store and Food Fund marketing strategies. Increased accounts receivable turnover and
percent current, making it a consistent top-ranked district.
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Increased sales by an average of 9.2% per year (over twice the industry average growth rate). Grew income by 28%
per year, a 232% improvement in income as a percent to sales.
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Implemented Total Quality Management culture and processes. The resulting improved management team skills
generated the financial turnaround and allowed construction of a new distribution center to handle growth.
Received the President’s Club Award for Highest Achievement and Contribution to the company, 1999.
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Cargill, Inc.
Controller, Corn Milling Division
Memphis, TN
1983 to 1989
Responsible for overseeing annual sales of $340M. Developed the division’s first computer-based Comparative Statement
of Financial Position and Summary Income Statement Analysis. Accounted for 9 profit centers and 10 cost centers plus
consolidated statements. Mentored and managed 27 employees.
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Managed financial controls for $93M in major expansions.
Installed first decentralized computer system, including 16 major substations, increasing capacity by 65% without
increasing accounting staff. Developed computerized, zero-based budgeting for real-time interaction with managers.
Implemented AR Total Quality Process team to reduce past-dues and eliminate all short pays over 30 days.
Implemented a Cost of Quality P&L report. Division eventually won the Malcolm Baldrige National Quality Award.
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Cargill, Inc.
Controller, Soybean Processing Division
Wichita, KS
1981 to 1984
Responsible for overseeing annual sales of $130M. Mentored and managed 11 employees. Accounted for 3 profit centers.
Restructured accounting and administration, increasing productivity by 12.6%
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Unraveled major, long-term fraud and aided in the successful prosecution of four individuals. Obtained a $3M
settlement.
Installed major new soybean storage subsystem, accounting for 70% of annual purchases within 3 months.
Managed on-time/in-budget construction and start-up of a new oil refinery and hydrogenation plant.
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Cargill, Inc.
Internal Auditor, Administrative Division
Minneapolis, MN
1977 to 1981
Progressed from assistant to senior auditor while learning 11 major businesses. Developed specialized audit programs and
audit manuals. Worked on special requests for help on frauds, bankruptcies, major investigations, new acquisitions and
corporate structure recommendations.
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Located a $1M error on third day of an investigation that took three months to unravel.
Recommended preventative measures which were instituted throughout the corporation.
Education
University of Memphis
Memphis, TN — 1989-1990
M.B.A. in Finance, minor in Economics
University of Minnesota
St. Paul, MN — 1975-1977
B.S. in Business, major in Accounting, minor in Economics
Certificates and Affiliations
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CPA Certified Public Accountant
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CIA Certified Internal Auditor
AICPA American Institute of Certified Public Accountants
Council of Supply Chain Management Professions — Dallas / Fort Worth Chapter
Honors, Awards, or Special Recognition
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Finance Excellence Award for Finance Leadership & True Business Partnership - 2000
President’s Club Award for Highest Achievement and Contribution to the company - 1999
Best in Class Account Receivable Days - 1998
Valedictorian Award for Professional Selling Skills - 1995
Key Accomplishments
Preparing for the Major Recession in 2008
Situation:
The construction and building material distribution industry is highly cyclical based on the economy. In the boom years
leading up to 2008 we focused on growth. We opened a second distribution center in Houston to support our Dallas
distribution center, built a millwork manufacturing plant to expand our product offering, and were preparing to open a
consolidated building material distribution center in central Texas. Then in late 2007 a change in leading economic
indicators signaled a downturn was coming, and that it might be severe. We had to rapidly change course and prepare for
a 40-50% drop in volume.
Action Plan:
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Consolidated the distribution fleet between the Dallas distribution center and millwork manufacturing plant. This
entailed designing, prototyping and purchasing new custom trailers as well as refurbishing our existing fleet to handle
both product lines; designing and building new loading racks; restructuring the loading and securement systems; and
redesigning the delivery routes.
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Increased the capacity and productivity of the flagship Dallas distribution center by redesigning the warehouse layout
and inventory slotting. Narrower aisles required changes in the material handling equipment and processes, but the
end result was a 72% increase in capacity, while providing swift access to the fastest moving inventory.
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Closed down the Houston distribution center and the small West Texas branch — both of which were not yet
profitable — and stopped plans for the central Texas consolidated building material distribution center.
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Reduced our labor force and cut executive pay all at once rather than incrementally.
Results:
While the industry decline of 55-60% exceeded projections, our own volume decline topped out at only 36%. While our
competitor reduced service levels, provided better customer service, improved our processes, and remained profitable.
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Saved $4.398MM in inventory cash flow and $2.829MM/year in income by closing the Houston DC.
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Saved $873K in inventory cash flow and $387K/year in income by closing the West Texas Branch
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Saved $928K/year by stopping plans for a consolidated building materials branch in Central Texas.
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Reduced workforce and management salaries and saved $2.614MM; and kept expenses within 1% of sales prior
to the recession.
Key Accomplishments
From Potential Closure to New Facilities
Situation:
At the time I was hired by a 50 year old food service distribution company, the industry was undergoing a dramatic
transition. Large food service distributors were growing rapidly by acquiring smaller companies and consolidating the
industry to become more efficient. The second largest food service distributor in the U.S. had just purchased several
locations from a competitor with the thought of consolidating the poorest-performing locations into their existing
distribution centers. My new company was acquired and marked for consolidation. An experienced President was
transferred to this location from the acquiring company. Together we replaced the primary leaders from the purchased
company, which had allowed the organization to degrade. We faced a toxic culture where trust had been broken and the
most boisterous personalities had imposed their will on decisions. The outlook wasn’t good: 50 year old, inefficient
facilities, poor financial performance and bitter employees. The chances of the new owners consolidating this location
into their existing divisions were close to 100%.
Actions:
I took this job because the acquiring company was a well-known national brand company and I was very impressed with
the new President of this location. I quickly observed the severely dysfunctional culture and recommended training our
people in Total Quality Management (TQM) skills. The President asked me to lead this effort.
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Engaged the executive team to customize the TQM strategy for the specific needs of our location. Distributed
weekly reading assignments and prepared half-day executive training sessions every other week. All managers
and supervisors were trained.
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Led first time ever strategic planning sessions to analyze the competitive environment, focus on customer needs,
and to prioritize resources. Held collaborative sessions with sales management and team members to devise plans
and opportunities for each territory.
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Developed P&L’s by customer, salesman, sales manager and delivery routes that tied to the entire P&L to
identify areas of focus to improve performance. Developed trend P&L’s and Rate/Volume/Mix Variance reports
to illuminate areas in need of improvement
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Built zero based budgeting and forecasting models for on-line, real-time, collaborative decision-making with the
executive team.
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Cleaned out slow moving and dead inventory, cleaned up under-utilized warehouse space and obtained additional
capital to expand our growing need for the refrigerated space for higher margin inventory items.
Results:
Attained a complete turn-around in company morale. Unleashed employee energy and skill, transforming the company’s
performance. Became a consistent top 5% financial performance location in Return on Investment (ROI), Return on Net
Assets (RONA), and Return on Sales (ROS). Secured 80% of the market share in the acute healthcare business. Grew
sales by 9.2% for 11 years — over twice the average industry growth rate. Grew income as a percentage of sales 28%
per year for 11 years, representing a 232% improvement. Built a new, efficient distribution center to support our growth
instead of being closed down and merged with another location.
Key Accomplishments
Dramatic Improvements in Transportation
Industry Insights
Rediscovering Profitability — the potential was there all along.
Define Value and Deliver It
Understand what is valued by the customers that drive your profitability. Understand which customers are profitable.
Align the organization’s Value Proposition, Core Competencies and prioritize resources around what is valued by
customers that are willing to pay for that value. Ensure internal systems and tracking of Key Performance Indices give
accurate, complete and timely feedback on how value is being delivered to customers. If customers have to give the
feedback, it is too late.
What is Waste; How to Look for It
Allocating or consuming resources on anything that is not valued by your customers is “waste.” For example, customer
should not have to pay for excessive inventory, excessive wait times, or any lack of communication, collaboration, focus
or any other form of organizational dysfunctionality. To clear out this waste, companies should implement a Lean, Six
Sigma, Total Quality Culture; nothing comes close to delivering on-going, sustainable improvements.
The Opportunity Beyond A Mistake
Even the best organizations will make mistakes occasionally. In that moment of truth when the customer does not receive
the value expected, if the supplier responds proactively and promptly to correct the mistake, a value beyond that of the
purchase is delivered to the customer: the company’s good faith. In return, the company receives an item of value from
the customer: His good will.
Stand for Something or Fall for Anything
Over 85% of the success of an organizations is defined by emotional competencies which is how well people work
together on a shared mission, vision and with common Core Values. It’s up to an organization to define, teach, develop
and reinforce the skills needed to keep its Core Values strong while inoculating it against the unhealthy habits of its most
assertive members. Nothing, not even high IQ or great salesmanship, does more to deliver long-term success to a company
than its Mission, Vision and Core Values since it drives engagement from everyone.
Suppliers Must Win Also
In distribution, it is important for your supplier to “win” if their product is one that you need because your primary
customers value it. Survey your suppliers to get unfiltered feedback on what they value and how they see you contributing
to the supply chain. This can open the door to active collaboration between you and your supplier such as scheduling a
forum for open communication, goal setting, and action plans. Discussion can include feedback on market share,
competitive pricing issues, quality concerns, optimal packaging, improved scheduling for timely shipment and prompt
receipt of product for improved asset utilization. Sharing market intelligence, joint marketing and sales calls improves
the ability to adapt to the changing market conditions on a timely basis. More advanced forms of collaboration include
Vendor Managed Inventory (VMI) where sales, demand and inventory levels are electronically data interchanged (EDI)
back to the supplier to improve the fill rates, timeliness and efficiency of the supply chain. It is not a zero sum game of
winners and losers but rather all parties can win together.
Focus on the Customer
Every associate in your organization has both an upstream supplier (external or internal) and a downstream customer
(external or internal), and they all flow together in a continuous stream of value that builds as it leads to your external
customer. If an external customer is unhappy with the value being supplied, that customer stops buying; it can be
harder to tell when an internal customer is unhappy. For this reason, it’s important to define and track Key Performance
Indices and Cost of Quality at each delivery point along the value stream.
Why are we so Reluctant to give Praise?
Let’s face it: It’s easier to focus on the 5% of the time when employees did not meet our expectation than it is to give
positive reinforcement for the 95% of the time that they did. But it’s an unproductive way to change employee behavior.
Criticism often motivates people to defend their self-worth and reasoning. Sincere positive reinforcement creates a
desire for continued praise, which can drive employees to perform even better.