Francis X. Tirelli

P.O. Box 5000 PMB 192  Rancho Santa Fe, CA 92067 (310) 498-4400

INDEPENDENTDIRECTOR • AUDIT COMMITTEE CHAIRMAN

FORMER CHAIRMAN AND CEO

Accomplished Chief Executive Officer and Board Director known for ability to grasp difficult business situations, develop comprehensive remedial plans, make tough decisions, and dramatically turn around companies in very difficult circumstances.

Equally adept at accelerating the growth of healthy companies, as executing turnarounds. Extensive hands on experience as CEO, Chairman of the Board, and member of the Board of Directors. CPA. Extensive experience and skills in international operations, audit, governance, finance, tax structuring, internal control, and accounting.

Significant industry experience in Professional Services, Financial Services, FinTech, Global Manufacturing, Consumer and Multi-Level Marketing.

Passion for sharing and deploying those capabilities with Boards of Directors. Active member National Association of Corporate Directors (NACD), at both the national level, and with the Southern California Chapter.

Board experience includes Chairman and CEO- Deloitte Italy, Board of Directors NYSE listed Herbalife International, a $2 billion enterprise, and Vice-Chairman-Board member of Deloitte US. Audit Chair qualified.

PROFESSIONAL EXPERIENCE

DELOITTE 1978 – 1999; 2004 – 2012

29 Years of progressively increased responsibility in major global professional services firm. Retired 2012.Distinguished reputation for operations, revenue generation, profitability, client service, and talent recruitment and retention. Major initiative to organize around Teams instead of by individual, and launch a Revenue enhancement platform. Another first was the development of the Client Service Matrix, matching up intellectual capital with client needs.

Acknowledged for initiating Career Strategies for professionals, accelerating the growth of thousands of careers.

Chairman and Chief Executive Officer, Deloitte Italy Nov. 2004 – June 2012

Deloitte Italy is the Italian member Firm of Deloitte Touche Tohmatsu, a global organization of member firms that operates with 225,000 people in nearly 150 countries.Chairman and CEO are elected annually by the Deloitte Italy Board of Directors.

  • Restructured operations, divested incompatible businesses, right sized practices, recapitalized businesses, established new management techniques to increase revenue, and eliminate €33 million in overhead costs, resulting in a swing in Net Earnings from a loss of -€18 million to profits of €82 million
  • Responsibilities included leading Deloitte Italy’s efforts to:

Build and protect the Deloitte brand

Achieve superior financial performance and growth

Set a clear strategy and achieve related objectives

Manage $750 million of revenue

Provide leadership to4,500 professionals

CEO, Director, Herbalife International (NYSE: HLF) Jan. 2000 – Oct. 2002

Publicly traded company that distributes weight management, vitamin and herbal supplements and skin care products through a network marketing distribution channel.

  • Exceeded investor, shareholder and Board expectations by returning a business in decline to a progressive growth enterprise. Grew revenue $200 million to a peak of $2 billion, and improved EBITDA 100% from $75 million to $150 million in 1 year.
  • Worked closely with executive management, Board members and investment bankers to structure the sale of the company for an 80% premium over the market in a $750 million transaction with a private investment group.
  • Managed road shows to obtain needed financing to close transaction.
  • Outlined 10 strategic initiatives equally focused on the top and bottom line, which became the model for executing a successful revitalization to achieve rapid success and sustain long-term growth and profitability.
  • Managed entire restructuring of finance, marketing, sales, risk management, and procurement departments.

MY CFO, Inc. Nov.1999- Oct. 2001

Chief Operating Officer

A Kleiner Perkins portfolio technology company that combines professional service advice with proprietary, internet based technology solutions for high net worth individuals.

  • Company was sold to Bank of Montreal-Harris in 2002.

DELOITTE Sept. 1978-November 1999

Vice Chairman-West Regional Managing Partner June 1996 – November 1999

  • Responsibilities as West Regional Managing Partner included full responsibility for all Deloitte US offices on the US West Coast,$1billion of revenue and 6,000 professionals.

BOARD SERVICE

  • Independent Director, Direct Lending Investments, LLC
  • Chairman and CEO, Deloitte Italy
  • Board of Directors, Herbalife, NYSE: HLF
  • Vice-Chairman, Deloitte US
  • Chairman of the Board of Directors, The Greenwich YMCA
  • Board of Directors, The Miami Project (mission to find cure for paralysis)
  • Board of Trustees, Xavier High school

EDUCATION

Babson College – MBA, 1976, with distinction

Boston College – BS, Accounting, 1974, Cum Laude

Xavier High School, New York City, 1970

PROFESSIONAL AFFILIATIONS

  • American Institute of Certified Public Accountants
  • Connecticut Society of Certified Public Accountants
  • California Society of Certified Public Accountants
  • National Association of Corporate Directors (NACD)

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