Home > Why GFO > Meet Our CFOs > Richard Ott

Richard Ott

rfott@gfocfo.com

Phone Number: 866-220-4092 x104

Location: Blackwood, New Jersey

Years of Experience: 30

Biography: Rich is a results-driven chief financial officer with 27 years experience in creating value and growth by utilizing strategic and financial planning, valuation for mergers, acquisitions and divestitures and labor and contract negotiations in the small to middle market business segment. He has been instrumental in achieving significant cost savings and capturing efficiencies by streamlining operations, automating procedures and implementing process improvements.

Prior to joining GFOCFO Group, he held various positions as CFO, CPA/CVA consultant with North East Auto Marine Terminal, Rosenberg Druker & Company, and Horner Trucks, Inc., among others.

Rich holds an extensive background in the logistics and supply chain sector. His industry experience has spanned diverse industries, and includes imported/exported vehicles, car rental companies, auto dealers, brokers and shipping companies, internet retailers, jewelry stores, restaurants, CPA and consulting firms. He also served on the board of directors for a startup company operating as a wireless internet service provider, and as a management trustee of a union defined benefit pension plan.

In previous positions as Chief Financial Officer, Rich has been a key advisor in the strategic planning process; collaborating with senior executive management team in identifying the direction the company would take, the companies to acquire or partner with and identifying markets and product offerings while negotiating with labor, customers and suppliers in meeting the objectives of the plan.

Successes

Managed a turnaround strategy to a positive cash flow for a company which had lost 40% of its revenue due to customer consolidation and plant closure through a 60% reduction in labor and benefits, modified healthcare coverage, increasing exposures to risk resulting in reduced insurance premiums, a temporary freeze in the union pension plan benefits and efficient management of working capital.

Leveraged a $500K capital expenditure in a new MIS system to generate $800K in annual manpower savings to control a $350 Million inventory.

Restructured corporate debt to enable controlling shareholder to take an additional $1Million personal tax deduction.

Additional proven areas of expertise include: financial modeling under various 'what if' scenarios, financial reporting, rolling budget vs. actual; tax planning; risk management; and due diligence services.

Education

Rich earned a B.S. in Business Administration from Drexel University and is licensed as a CPA in both New Jersey and Pennsylvania. He is certified as a Certified Valuation Analyst (Business Valuation) from the National Association of Certified Valuation Analysts, and holds membership in the Turnaround Management Association, the New Jersey Society of Certified Public Accountants, the Pennsylvania Institute of Certified Public Accountants, the American Institute of Certified Public Accountants and the Financial Executives International.

Rich resides in Blackwood, New Jersey with his wife and four daughters.

Areas of Expertise: Mergers and Acquisitions, Due Diligence Analysis , Business Valuation, Logistics/Supply Chain, Financial Planning/Modeling

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