Meet the CFO Services Team
About Gary Hayes
Gary Hayes is the president of CFO Services.
Gary is a seasoned financial executive with over 30 years of experience across multiple industries. Since 1981, he has spent the majority of his career in support of Information Technology businesses, with a special emphasis in the software and services market.
Gary has worked for large multi-national corporations including Martin Marietta, Software AG, SAGA Software, and Lockheed, to name a few. Since 1999, he has focused on working with technology-based start-ups in the Research Triangle Park area of North Carolina where he has served as the chief financial officer for two companies, KOZ.com and Ateb, Inc., and acted as CFO and consultant to Utenzi, Inc. during that company’s bankruptcy process in 2001.
Gary’s experiences have been broad and varied and cover far more than the traditional financial and administrative responsibilities. He has led M & A teams on several acquisitions, and participated in a management buyout of a $150M software company, and its subsequent IPO and secondary offering. From an operational perspective, Gary was able to restructure a complicated facility lease arrangement that resulted in the company saving $7M over the remaining term of its lease.
More recently, Gary has gained significant experience in raising venture capital in his work with technology companies in the RTP area. At KOZ.com, working with the CEO, he raised over $35M in venture capital over a two-year period as the company’s CFO and acting COO. At Ateb, Inc., again working in tandem with the CEO, Gary was successful in arranging for a $5.5M dollar financing that was set to close in November of 2003.
At Reichhold, Inc., a $1.2B chemical manufacturer, Gary successfully designed and implemented a global forecasting and annual plan process that was critical in aiding the company in its successful buyout from its Japanese parent.
Gary is a 1971 graduate of the University of Maryland with a business degree in Accounting. In 1974, Gary passed his CPA examination in the State of Maryland and completed his education with an MBA, also from the University of Maryland, in 1978.
Gary is an active participant with North Carolina’s Council For Entrepreneurial Development (CED), including service as an instructor for CED’s renowned FastTrac program. He also serves as a coach for the Launching the Venture program at the University of North Carolina Kenan-Flagler School of Business. He currently resides with his wife and daughter in Durham, North Carolina.
About Nick Williams
Nick Williams is a financial executive with thirty eight years of experience in chemicals, oil and gas, computers, telecommunications and information services businesses. Since 1991, Nick has served as Director of Internal Auditing, Corporate Controller, Treasurer, and most recently, VP Finance for Reichhold Chemicals, a global chemical manufacturer with sales in excess of $1 billion. Prior to joining Reichhold, Nick spent twenty years with General Electric in a variety of financial management roles including CFO of GE's Ladd Petroleum Affiliate and VP/Controller and CFO of two investment holding companies engaged in mergers and acquisitions in the oil and gas business.
Nick's core strengths are financial planning and analysis, problem solving, personnel and project management. Successful projects at Reichhold included:
- Improving financial performance by focusing attention on raising prices, cutting costs, simplifying process and managing cash;
- Initiating a working capital program to reduce accounts receivable, inventory and bank debt;
- Implementing a comprehensive restructuring of the global finance organization that resulted in $2M in savings and a 20% reduction in headcount.
Nick holds a Bachelor of Science degree in Business Administration from the University of Arizona. He is also a graduate of GE's Financial Management Program, a three-year graduate training program equivalent to a MBA in Finance. He is an active member of the Institute of Management Accountants and the Institute of Internal Auditors.
About Tom Welsh
Tom Welsh is a financial executive with thirty years of experience with manufacturing, service and high technology businesses. Since 1992, Tom has provided CFO leadership at 3 companies with $25 to $130 million in sales during rapid growth, merger and turnaround situations. Earlier, while at Texas Instruments, he was a Division Controller, financial planning analyst and designer of manufacturing cost systems. Tom's professional focus is Business Performance Management (BPM). Successful projects included:
- The replacement or modification of existing financial management systems enabling them to provide economic value and ROI information at the product/customer level.
- The design and implementation of 7 cost accounting information systems at 2 public and 2 private companies.
- The development of a capital investment evaluation technique that has been used at 4 companies for capital expenditure, acquisition and R&D project proposals.
- Handling financing/bank relations under volatile business conditions including rapid growth, turnaround and high debt service requirements.
Tom holds an MBA from the University of Michigan and a BA in Finance from Michigan State University. He is a Certified Management Accountant and active with the Raleigh Chapter of the Institute of Management Accountants.