LUCAS ARREDONDO

LA-Z-BOY INC. | SALTILLO, MEXICO

SR. FINANCE DIRECTOR MEXICO/ LATAM | 2021-PRESENT 

FINANCE DIRECTOR MEXICO | 2020-2021

• Business leadership for delivering results for our Mexican operation that has seen exponential growth, evolved from primarily just cut & sew operations to now 5 sites across the country (Ramos, Parras, San Pedro, Torreón, SLRC) inclusive of expansion of cut & sew operations as well as new upholstery assembly (1,200 to 5,000+ employees). 

• Responsible for managing all CAPEX Investment for Mexico expansion $+50M USD.

• Upholstery assembly project will yield $+65M USD additional margin to LAZBOY Inc on an annual basis.

• Leadership and value creation for La-Z-Boy through transformation of the F&A/IT/Import/Export organization.

• Secured new income streams/employee retention during pandemic via medical gowns program $3.5M USD, as well as financial leadership, stewardship, and start-up of all the capacity investments into the market 

• Establish new company in Mexico for retail sales to increase sales in Mexico and LATAM.

• Stabilized and reorganized finance functions to support current operations. Recover credibility on financial reporting from our operation with company headquarters.

• Creation of new IS (Information systems) in order to maximize data and systems capabilities thru E Factory.

• Co-lead 1 campus vision to consolidate operations, standardize process and procedures. Currently working on several strategies to support LRP for upcoming years.

• Consolidated suppliers as 1 campus to leverage from volume targeting savings of $1M USD for MRO Items.

• Support product transition (7 products including Assembly & Fabrication) from USA plants. Implemented CAPEX reconciliations and forecast tool to manage $50M+ USD investments.

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LENNOX INTERNATIONAL | SALTILLO, MEXICO

FINANCE DIRECTOR/PLANT CONTROLLER | LENNOX RESIDENTIAL

2010-2012, 2015-PRESENT 

• Directed all Finance, Accounting, IT, and International Trade functions for the LII United Product Division for this international assignment in Saltillo, Mexico including financial planning, analysis, and reporting. 

• Transitioned the role of the Finance Department by implementing a two year plan to guide daily operational decisions and manage projects; appointed as a Member of a Long Range Plan Team at Lennox Residential.

• Increased forecasting accuracy from 85% to over 92% by aligning factory expenses with production levels.

• Improved staff performance, morale, and productivity by ensuring all systems were in place, cross-training, and succession planning; advocated key promotions for top-performing talent into corporate positions.

• Optimized productivity from 5 to 7 lines, eliminating $4 million CAPEX investment in the 2 additional lines while securing additional space for other activities as part of an innovative project team effort.

• Generated $200,000 in annual savings, 10% of spending, by cutting inbound material transportation costs.

• Minimized facilities expenses $130,000 annually, not including headcount reductions.

• Eliminated shrinkage risk, previously incurring a $400,000 loss, utilizing new procedures and best practices.

• Reduced unfavorable physical inventory from $1 million to less than $50,000 through better management.

 

FINANCE DIRECTOR | WWR AT KYSOR WARREN MEXICO

2012-2014 | MEXICO CITY

• Manage all aspects of Accounting, Finance, IT, and International Trade for this international assignment in Mexico DF; oversee financial planning and analysis, financial reporting, and SOX compliance.

• Implemented a 1 year plan to transform the role of the Finance Department by actively participating and guiding operations in daily decisions, and special projects, helping GM in better decision-making.

• Spearheaded efforts of the Office Relocation Team consisting of more than 20 personnel over 6 months; led planning and logistics of the remodeling of the new facility to effectively double the available space.

• Drove $90,000 in annual savings resulting from the relocation due to a reduction of external WSH.

• Facilitated a sales increase from $400,000 to $1 million in 2 years by playing an active role in key decision-making, process development, and service department creation; advise GM and ensure policy compliance.

• Increased ROS from 7% to 9.7% by creating VSM to document process flow for all KWM operations.

• Developed a ground-breaking financial model to track every job order in great detail; implemented a 2 business day accounting close cycle; increased forecasting accuracy from 60% to more than 90%.

• Lowered processing time for several processes by as much as three days including expense reports and web applications for AP and AR; managed DIOT automation and logistics portal.

• Pioneered new technology for commercial refrigeration in Mexico; developed service contractor web forms and innovative phone applications; selected ERP application including MRP and CRM; lead the integration.

• Reduced losses from currency exposure by $100,000 annually by implementing a currency hedge.

• Executed corrective actions for 17 observations, including 7 major items from a 2012 audit in under a year.

 

​TRINITY INDUSTRIES | DALLAS, TX

DIRECTOR OF COST AND PLANT ACCOUNTING | RAIL CAR DIVISION | 2009-2010

• Managed and coordinated all department functions for eight Rail, Repair, and Leasing plants; improved efficiency, minimized risk through error reduction, and ensured proper staffing through scheduling.

• Reduced manufacturing overhead expenses by integrating lean manufacturing strategies.

• Lowered unfavorable inventory levels from $3 million to $500,000 for 2 plants in only 1 year.

• Cut E&O costs 50% on specific components by restructuring ERP for shop order fabrication.

• Developed a job costing methodology to establish a sales price for a 10 year contract with a major client.

 

COST MANAGER | ACCOUNTING | RAIL CAR DIVISION | 2008-2009

• Spearheaded all procedural and policy development for the Accounting team across three plants.

• Directed the cost closing process, inventory revaluation and control, capitalized and amortized variances and overhead expenses, financial planning and analysis, budgeting, and forecasting.

• Reduced operational costs significantly in collaboration with Operations/Manufacturing team to provide key metrics including gross margin by product analysis; evaluated accounting procedures; set internal controls.

 

PLANT ACCOUNTANT | FINANCE/ACCOUNTING DEPARTMENT | FREIGHT CAR DIVISION | 2006-2008

• Established standard costs for freight car products in collaboration with Engineering, Purchasing, and Operations; coordinated semi-annual physical inventory while establishing internal procedures and controls.

• Pioneered new procedures to prepare journal entries in U.S. company books to show cost of goods sold, labor, overhead spending, and revenues for products manufactured in Mexico; ensured GAAP compliance.

• Directed all personnel in the U.S. and Mexico to provide accurate information on accounting procedures.

• Coordinated monthly financial statements and reports for senior management; prepared, consolidated, and reviewed monthly and annual budgets and forecasts; oversaw more than 10 separate SOX controls.

 

INTERCERAMIC | GARLAND, TX

COST ACCOUNTANT | FINANCE/ACCOUNTING DEPARTMENT | 2004-2006

• Advised senior management on improvements to cost accounting procedures and controls; developed and implemented these controls; monitored project costs, expenses, and labor hours.

• Evaluated cost information to identify errors or omissions and resolved issues in reports prior to issuance; analyzed and prepared cost accounting reports for senior leadership.

• Secured significant cost savings for manufacturing products in a collaborative effort with supervisors to determine cost-effective methods; played a key role in quality control meetings.

 

PURCHASING AGENT | GLOBAL SOURCING DEPARTMENT | 2004

• Launched this new department; managed logistics, transportation, and custom broker relationship development; spearheaded efforts to develop a strategic supplier selection process.

• Drove a tremendous increase in purchasing volume from 1.1 to 5.6 million square feet per month.

• Generated savings of more than 15% on program purchases by enhancing the purchasing cycle through standardization of supplier requirements related to quality, capacity, and reliability.

• Cultivated strong alliances with more than 30 global leading stone suppliers from Spain, Italy, Turkey, China, India, Brazil, and other locations.

• Reduced Ocean Freight costs by over $500,000 and increased transportation efficiency by increasing purchasing power and lowering the number of freight forwarders from 9 to 3 on international routes in 2004.