|
Mr. Fiamingo is a leading turnaround executive in the general manufacturing and industrial sectors. He has extensive experience working with private equity groups to stabilize and turn around industrial operations, and has developed a reputation among both investors and industry players as a bold, results-driven executive with a proven track record in executing operational restructurings.Mr. Fiamingo began his career with General Cable Corporation, a $1.1 billion wire and cable enterprise, where he advanced from Shift Supervisor to Executive Vice President of Operations. As Executive VP, Mr. Fiamingo maintained oversight for 23 production plants, 10 warehouses and a $750 million annual budget. At General Cable, he executed a plan closing six plants and two distribution centers without customer disruption, saving the company $25 million annually. He and his team resolved most of the systemic issues and delivered an additional $24 million in cost improvements.Mr. Fiamingo was then recruited by private equity firm Hicks, Muse, Tate and Furst to International Wire Group, Inc. as President of the Wire Technologies division. Following his turnaround of the poorly performing $190 million division, Mr. Fiamingo was promoted to President and COO of the company, and he and his team subsequently improved revenues from $350 million to $760 million.Following International Wire Group�s success, Mr. Fiamingo was asked by Hicks Muse to become President and COO of Courtesy Corporation, a struggling manufacturer of precision injection molded plastic components, closures and dispensing systems. Mr. Fiamingo brought in a team of new managers and developed project plans addressing all aspects of the company, including manufacturing, quality, sales, marketing, engineering and finance. The refocused and revitalized company delivered annual average sales growth of 11% while reducing manufacturing costs 5% annually.Following the sale of Courtesy, Mr. Fiamingo was asked to return to International Wire Group to turn around a flagging division. His successes led to a promotion to Chief Executive Officer and in this position, Mr. Fiamingo implemented plans to restructure the entire company. He reduced debt by $258 million and increased cash flow $31 million annually, providing a solid basis for future growth. | 