Rob Novak, CFA, is a Managing Director at MorrisAnderson based out of Chicago. He has substantial experience in crisis management, operations improvement, debt refinancing/restructuring and has held multiple C-level positions.
Prior to joining MorrisAnderson, Rob co-founded Bankruptcy Claim Exchange to advise creditors on maximizing liquidity, and he worked in the Commercial Restructuring group of Alvarez & Marsal where he advised on numerous in and out-of-court restructurings over more than ten years. Rob also served as CFO with Midwest Gourmet Foods, a gourmet foods retailer and restaurant concept in Chicago. Rob earned a bachelor’s degree in Business Administration from the University of Notre Dame and an MBA from the University of Chicago Booth School of Business with high honors. He is also a CFA charter holder.
Rob specializes in interim management/CRO engagements, operations improvement, revenue enhancement, cost and cash improvement plans, and asset sales. As an advisor to the debtor he has been instrumental in affecting performance improvement, restructuring balance sheets, and managing liquidity. As an advisor to creditors, he has been effective at evaluating and improving upon debtor business plans, monitoring and projecting financial results, and facilitating reporting and communication.
Rob has worked in the Mining, Metals, Energy, Retail, Consumer Products, Manufacturing, and Real Estate industries among others.
REPRESENTATIVE WORK EXPERIENCE
- Engineered turnaround of struggling retailer with restaurant operations, grew sales by 20 percent year over year and optimized costs to
- Consistently able to uncover the true business drivers, communicate specific goals throughout the organization, empower decision makers,
and enforce accountability to drive business results.
- Conceived and built custom tool to solve for optimal sales mix and generated millions of additional revenue.
- Benchmarked costs and KPIs to highlight operational inefficiencies. Executed plan to close gap and reduced costs by $2 million per quarter.
- Analyzed and modified multiple close-to-reporting processes, in one example compressing the cycle from 45+ days to less than 15 days while
providing robust flash reporting and better KPI visibility.
- As interim Treasurer, forecast cash under tight covenants and highly distressed conditions to illustrate stress points and communicate the
need for covenant relief to creditors.
- Designed communication plan and process for a company filing for chapter 11. Training material and scripts were developed for sales,
accounting, human resources, and procurement with Day 1 training presentations.
- Instituted vendor management program that resulted in no major vendor disruptions and a $50 million positive liquidity variance to plan.
- Initiated multiple daily, weekly, and monthly management reporting processes to focus management on business drivers and reinforce
- Advised on business plan creation and delivery route rationalization for Interstate Bakeries, maker of Twinkies.