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Resume II - Info; Stephen Mazda
CFO / GM / Business & Financial Consultant
Emerging Businesses / Rapid Growth / Consolidation
While affiliated with two markedly different industries, financial
services and a $50 million, retail furniture chain, received
recognition in CFO magazine, in numerous organization and
association newsletters.
Successfully sold the furniture business for $27 million in a cash
purchase. Real estate holdings of the company were retained by the
shareholders and leased to the new owners. Within financial
services, client list has included Honolulu City Bank, American
Trust Co., Bishop Trust Co., CF&I Steel, One Pass Film & Video,
Straub Hospital, more than 25 law firms and 150 smaller companies,
including VeriFone before they hired their first employee.
Established interagency teaming among agents of financial services
groups that resulted in additional business for all participants.
Consistently provided employees with opportunities for advancement
and shares in profit and equity.
Exemplary Achievements
Increasing Revenues 350% in a Highly Competitive Industry - Provided
sound financial management in existing operations, led and
championed store expansion and acquisitions. Structured buyout of
the company. Locked in favorable supply chain agreements and
orchestrated generous profit sharing programs. Within eight years,
increased revenues from $14 million to nearly $50 million and almost
quadrupled earnings.
Capitalizing on a New Concept - Through research into Eastman
Kodak's adoption of a 401(k) provision in their profit sharing plan,
recognized the potential value and marketability of the 401(k)
concept in the early stages of its development. Combining that
recognition with experience gained at Barclay Associates in profit
and equity participation plans, created a brand around a form of
ESOP
with a 401(k), The Profit and Asset Participation Plan with a salary
deferral 401(k) option. Achieved market leadership in the concept
and established a strong competitive advantage. Structured one-third
of the first 200 401(k) plans in the country.
Orchestrating a $23 million ESOP - Having earned respect among the
business community in Hawaii, began to receive more referrals from
the mainland. Selected by CF&I Steel in Colorado to establish
trusteeship of their ESOP. Returned to Hawaii with a transfer of
2,640,000 shares that initially comprised the ESOP.
Achieving 90% Participation in City Bank's 401(k) Plan - At the
suggestion of two of the bank's Senior VPs met with the Chairman o
to discuss a 401(k) for the employees. An earlier effort by the bank
had met with little interest. Presented the plan to as many
employees as possible. The Chairman later stated, "The
well-coordinated and executed communications program has made Steve
Mazda's face a familiar one in all our branches in the islands.
Today, our employees enjoy a 401(k) plan and an Employee Stock
Ownership Plan. I highly recommend Steve Mazda as an educator,
communicator and employee benefit specialist."
Acquiring a Larger Competitor - Championed the buyout of Bishop
Trust, a $2 billion company by American Trust, a $1.2 billion
company. Informed that Bishop's building was for sale, correctly
surmised that the company could be acquired. Met with the president
and recommended a strategy for buying the company, financing the
transaction with less than a $3 million, leveraged ESOP loan.
Eventual sale of American/Bishop seven years later generated more
than $50 million to shareholders.
Employing Concept of Vertical Integration to Achieve Competitive
Advantage - In period of increasing competition, a manufacturing
company became available. The board had been convinced to make an
offer without completing due diligence. Prevailed in delaying offer
and quickly conducted on-site due diligence. Recommended offering
half the original offer. Operational profits increased dramatically
by retaining wholesale and retail markups and negotiations with
other manufacturers became more favorable. Competitors were hard
pressed to move into the market in any profitable way.
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