David Richmond | Duane Wolter | Arthur Guile | Jamal Pilger | Ron Burdine | Henry Schlueter
...Duane WolterChief Financial OfficerMr. Duane Wolter, CPA is the newest and among the most senior members of EI's senior management team and Board of Directors, having worked with the Company on several very complex projects, over a number of years.Both EI and our clients are extremely fortunate to have his extraordinary financial management experience in launching highly successful business operations, skill at financial negotiations and fund raising, extreme business savvy and acumen available to them.
has completed eight acquisitions, two divestitures, one IPO and over $3.0 Billion in public and private financings.He
is also a NASD trained Arbitrator.As CFO for EI he has full charge P/L responsibility and authority, as well as managing corporate finance, turnarounds and revitalizations, financial systems, contract, Broker/Dealer, Syndication and underwriting negotiations, financial risk management, cash management, acquisition analysis, due diligence, tax strategy, strategic and tactical planning for the Company.Mr. Wolter
brings an incredible wealth of experience, wisdom and immense financing success to EI
considerable accomplishments, include having founded and run his
own very successful financial consulting practice, specializing in Profit Recovery Auditing, Forensic Accounting, Crisis Management and Corporate Finance, for more than a decade.He served as Senior VP, Finance and CFO for L. Luria & Sons, a $200 million Catalog Show Room retailer, where he reduced expenses by over $7 million per year and inventories by over $12 million while introducing a highly successful private label credit card program.
As Senior VP, Finance of Hecht's
, a Division of May Department Stores
, a $1.3 Billion Sales Department Store Retailer - in just two months, he
successfully merged the back office operations of a 20-store department store division with $180 million in sales, consolidating the private label credit card systems and issued new cards to over 1.2 million customers.
For Ames Department Stores
, as Executive VP, CFO and Murphy Division CEO, a $5 Billion Sales Discount Retailer - he
improved earnings by 75% in the first two years, and completed $500 million of public and private financings.Additionally, he
accomplished the consolidation of a 200-store discounter, with $3 Billion in sales; eliminated $40 million of redundant administrative expense, and restructured their $2.1 Billion balance sheet, ultimately selling their Murphy Division 70-store retail with $165 million in sales.
For McCroy Stores, a $1.4 Billion Sales Variety Store Retailer, as Senior VP, CFO and Wholesale Division President, he
completed the merger of a 400-store discount retailer acquisition, with $900 million in sales while increasing sales and earnings by 25%, at their Wholesale division, which had $50 million in sales.
tutelage, as VP of Finance for Home Depot
completed the acquisition and merger of a $90 million in sales, 15-store warehouse retailer, along with negotiating and placing a $200 million working capital revolver.Further, he
built the infrastructure to support the 500% increase in sales from $200 million to $1 Billion and beyond.This infrastructure is still in place today, supporting $80 Billion in sales.
For H. J. Wilson, Company
, as Vice President, Corporate Controller, the $600 Sales Catalog Showroom Retailer, he
completed the acquisition and merger of a 30-store retailer with $150 million in sales, converted from NCR
to IBM computer mainframe and built the infrastructure to support a 300% increase in sales from $200 to $600 million.
As Assistant Controller for May Department stores
the giant $10 billion in sales Department Store Retailer he
was responsible for corporate planning and SEC
, stockholder and financial reporting, along with the acquisition and merger of a 25-store for $180 million in sales retailer and the divestiture of a 100 store, $100 million sales division.Mr. Wolter began his career as an Audit Manager for Arthur Anderson & Co., the International Certified Public Accounting Firm - where he was an expert in financial auditing, SEC practice and consulting for manufacturing, educational, financial services and health care clients.
career, Mr. Wolter
has acquired Turn'style, Leeds, Bowater, TG & Y, Thalheimers, Zayre and HomePlace, on behalf of his
employers for a total of $5 billion in sales at a cost of only $1.46 billion, which is an average 29.2% acquisition cost.He
has negotiated and raised $1.9 billion dollars for May Department Stores
is a Certified Forensic Accountant
, an expert in the examination of accounting, financial and related records in comparison to expected procedures or results and observed behavior and methods to achieve the stated goals; answering the questions as to value, fraud, or explanation.Usually answering these questions are well beyond the experience or skills of an ordinary CPA or management accountant.He is a Member of the American Institute of Certified Public Accounts, a Diplomat and Member of the American College of Forensic Examiners, Marquette University - President's Council, Financial Executives International, Audit Committee of the School Board of Broward County Florida, Who's Who In America and Who's Who In Finance and Industry.Mr. Wolter
enjoys living in the Fort Lauderdale, FL area with his
wife, son and daughter and is an avid and accomplished golfer.