SCOTT R. VELDMAN

1310 Cobblemill Way NW

Kennesaw, GA30152 Cell: (706) 280-4243

Email: Office: (706) 624-2103

TREASURY & RISK MANAGEMENT

Hands-on, high energy treasury executive experienced in a variety of financially challenging situations. Exposed to LBO, IPO, turnaround and acquisitive environments. Professional experience includes: capital planning & funding, global treasury operations, working capital management, financial forecasting and performance analysis, budgeting, pension & 401(k), management of receivable/payable systems, foreign exposure management, cash management systems, direct cash investments and risk management including traditional insurance & workers compensation. Experience is enhanced with an MBA from the University of Chicago and a BS in Finance from the University of Illinois.

PROFESSIONAL EXPERIENCE

MOHAWK INDUSTRIES, INC.

Largest Floor Covering Manufacturer, Distributor & Marketer in US

$5.6 billion in revenues

Vice President, Treasurer 2002 to Present

Key executive member in an acquisition growth oriented company. Responsible for globaltreasury operations, foreign currency exposure management, global acquisition financing, planning managing world-wide tax efficient debt facilities, cash investments, rating agency and bank relationships and risk management including traditional general, automotive and property insurance coverage. Strong cross-functional leadership, team building and development.

  • Negotiated a $600 million ABL borrowing facility during 2009’s difficult financial market providing the company with strong operating flexibility. Demonstrated cross-functional leadershipby managing accounts receivable and inventory managers through the collateral due diligence and reporting process.
  • Negotiated financing for the company’s Euro 2.6 billion Unilin acquisition located in Belgium during 2005.
  • Designed and implemented Centralized Euro Cash Pooling system for Unilin subsidiaries in Western Europe.
  • Consolidated general and property insurance programs into a world wide platform. Lead risk management team in the reduction of workers compensation expense. Generated$6 millionin savings from 2007 to 2010.

DAL-TILE INTERNATIONAL INC, Dallas, TX 1997 to 2002

(Wholly owned subsidiary of Mohawk Industries, Inc. since April 2002)

Largest Manufacturer, Distributor and Marketer of Ceramic Tile in US

$1 billion in revenues

Treasurer, 1997 to2002

Report directly to the CFO. Key management team member in turnaround company. Responsible for all domestic and foreign treasury operations, planning / managing capital structure & debt facilities, debt /cash flow forecasting & reporting, managing capital investments, foreign exchange and interest rate exposure management, lender relationships and special projects.

  • Implemented state-of-the-art PC based systems designed to improve cash controls and automate: daily cash operations, daily reconciliation of corporate wide cash transactions and treasury reporting
  • Restructured / streamlined all company banking and cash management services / systems which improved cash flow and reduced annual cash management expenses by 300K.

Page Two….Scott R. Veldman

DAL-TILE INTERNATIONAL INC, Dallas, TX continued

  • Implemented check guarantee and credit card services to support 220 nationwide sales service centers reducing annual bad debt expense by $1 million.
  • Lead negotiator in Company’s $400 million debt refinancing during the 4th Quarter of 2001and re-negotiated several operating leases generating savings of $2.2 million.
  • Negotiated favorable price and covenant leeway during difficult period in the bank funding market for the Company’s $580 million debt facility & significantly improved lender relationships during 1998.
  • Established hedging strategy for the company’s Mexico operations and interest rate exposures.

BORG-WARNER SECURITY CORPORATION, Chicago, IL 1985 to 1996

Multi-National / Multi-facet Manufacturer and Service Business Conglomerate

$1.8 billion in revenues post LBO, $6 billion in revenues prior LBO

Assistant Treasurer, 1991 to 1996

Reported directly to the CFO. Business environment encompassed a $6 Billion LBO, several IPO / Spin-off’s and significant consolidation of corporate and subsidiary operations. Planned and managed capital structure, credit facilities, working capital, off balance sheet financing programs, long range financial plan, annual budget, financial forecasting and performance analysis, daily treasury operations, 10-Q & 10-K reporting, cash systems and reporting, pension & 401(k) plans, bank relationships and rating agency relationships. Present Company financial information and business plans to bank officers and rating agencies.

  • Successfully negotiated $600 million of debt financing during a time of significantly weak company financial performance. During this period, rating agencies dropped sub-debt rating from B to CCC+
  • Jointly planned and negotiated third party financing program reducing capital funding requirements by

$150 million over five years in the company’s Alarm business

  • Successfully installed the cash systems, designed the treasury operations, and trained the operations staff of all spin-off companies.In addition, centralized multiple stand-alone treasury operations into parent company’s corporate headquarters in Chicago
  • Managed $2 million cash management budget for 8 operating banks, 20 encashment banks and 80 bank accounts

Manager of Treasury Operations, 1990 to 1991

Senior Financial Analyst, 1985 to 1990

FIRST NATIONAL BANK OF CHICAGO, Chicago, IL 1982 to 1985

Treasury Management Consultant

Analyzed efficiencies of Fortune 500 Corporations. Industry experience in: entertainment, financial, manufacturing, retail, brokerage and energy.

COMPTROLLER OF THE CURRENCY - U.S. TREASURY DEPARTMENT 1979 to 1982

Assistant National Bank Examiner

Page Three….Scott R. Veldman

EDUCATIONMBA, University of Chicago 1988

Accounting and Finance Concentration

BS, in Finance, University of Illinois 1982

Highest Department Distinction in Finance, University Honors (top 3% in university)

MILITARYUnited States Navy, Honorable Discharge 1974 to 1977

EXPERIENCE Overseas shore duty in Yokosuka, Japan. Secret Security Clearance Required.

PERSONAL German Language, Astronomy, Fish Tank, Classical Music & taking courses from

INTERESTSThe Teaching Company