Proposed Solution for Three Executive Challenges
© 2005-2006 by Walter K. Cruden -A)
These three challenges suggest five solutions. Before you start, address signature and approval authority and select an expense reimbursement policy. A confident and talented person can function responsibly without authority.
(A - Summary of Walter Cruden's integrity-based experience:
Board Director of three organizations; chairman of two.
2005-2006: counseled business owner crafting a multi-year strategic plan. Evaluated several potential strategic alliances and actively participated in and supported related negotiations. Ultimately and consistent with my advice, the business owner chose to accept an acquisition proposal from a NYSE listed company that meshed well with owner's strategic goals. The negotiated transaction closed in 2006.
1995-1999: Board Director and investor of MeretekDiagnostics that commercialized a breath test for H. Pylori, the infective agent responsible for most stomach ulcer disease. Role culminated with private sale of the business to the health subsidiary of American Standard, a NYSE listed company.
1987-1988: Served as Financial Vice President and Treasurer for one of the most successful LBO's of the eighties, Cain Chemical Company. Every equity dollar invested turned into forty-four dollars upon the multi-billion private sale of the business to Occidental Petroleum Company, a NYSE listed company, nine months after purchase.
1976-1987: CFO during three year construction, start up, and eight year operation of large international petrochemical joint venture. Honed project-management, strategic planning, infrastructure design, deal making, and team development skills. Designed and exercised performance management and external communications. Established and monitored internal controls for financial reporting. Participate in selling the business to Cain Chemical Company, a private LBO.
Visited Asia, Europe, and Africa achieving a better first-hand understanding of other cultures and their opportunities.