|
|
Mr. Downey has over 25 years of experience and held various financial
positions in consumer products, semiconductor, electro-optics,
industrial and companies. Mr. Downey has served as Chief Financial
Officer and member of the Board of Directors over the past ten years,
and his experience crosses both public and private companies. He has
hands on experience as Chief Financial Officer with several distressed
companies providing assistance to CEO’s and Boards of Directors through
the restructuring process. Over his career, the acquisition, financing
and investment transactions that Mr. Downey has worked on total more
than $1 billion.
Most recently Mr. Downey served as Chief Financial Officer and member of
the Board of Directors at Harbor Electronics, Inc., a manufacturer of
printed circuit boards used as test fixtures by the semiconductor
industry. Mr. Downey provided financial leadership and oversaw the
development of plans and policies that increased profitability from five
years of break-even performance to annual profitability in excess of 30
percent of invested capital. Mr. Downey was instrumental in the
valuation and negotiations of the sale of the business to a competitor.
Prior to his work at Harbor, Mr. Downey served as Chief Financial Officer
at Software Logistics Corporation, with sales revenues of $600 million.
Mr. Downey joined the Company after it filed for bankruptcy protection.
The scope of his work included representing the debtor-in-possession to
the courts, customers and creditors. Mr. Downey developed and executed
plans that reduced cost and kept the company cash flow positive until
its sale. The company sold for more than double the expectations of the
secured creditors and trustees.
Mr. Downey has extensive international experience working in the
International Divisions at Clorox and Atari. As Chief Financial Officer
at Zoltek Companies, Mr. Downey oversaw the financial integration of a
newly acquired business in Hungary (a 1,100 employee manufacturing
operation) shortly after the fall of the communist regime. He also
worked extensively with various international customers and operations
in Europe, Japan, China and South East Asia.
Mr. Downey brings a diverse business perspective to his positions using the
experience in strategic planning and product marketing management
positions at MEMC Electronic Materials, Inc., a manufacturer of silicon
wafers used by the semiconductor industry. He served as Product
Marketing Manager during the introduction of 200mm wafers into the
industry and as Director of Product Marketing for silicon-on-insulator
wafers in a joint venture between MEMC and IBM.
Mr. Downey received his Bachelors in Business Administration (concentration
in accounting and finance) from the University of Michigan in Ann Arbor
and his Masters in Business Administration from Washington University in
St. Louis. |
