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Lucio S. Facchini
Mr. Facchini has more than 40 years experience in the industry with
particular expertise in finance, contracting, and project management.
Relevant Experience
Providing Executive-level Financial Guidance
Chief financial officer for organizations that serve both government and
commercial markets, including international assignments. Served on the
board of directors for seven domestic and international business
organizations and three charitable groups.
Capitalizing on Growth Opportunities
Provided strategic financial guidance for high-growth organizations to
help them turn potential into profit. Responsible for the integration of
acquisitions into the core business, and establishment of financial system
for start-up businesses. Designed and implemented the systems needed to
guide the organization to profitable growth.
Negotiating Major Deals
Represented Westinghouse Corporation in the negotiation of multi-$100
million deals, including acquisitions, divestitures and litigation.
Established negotiation strategy, determined financial evaluation
parameters, and was responsible for closing the deals.
Achieving Superior Financial Results
Assisted problem operations in turning around their financial performance.
Helped these troubled divisions and business units identify operational
problems as well as opportunities to improve their financial performance
through the use of improved business techniques. Established systems for
improved management decision-making.
Career summary
Mr. Facchini joined Westinghouse Electric in 1963 where he served in a
variety of auditing, accounting and financial planning positions before
being named Vice President and Controller of Westinghouse Nuclear Europe
in 1972. Subsequently, he had controller assignments at Power Systems
Projects and the Nuclear Fuel Division. He was promoted to group
controller for the Power Systems Business Unit before being named Vice
President of Business Services and Finance for the Westinghouse Savannah
River Company. In February 1994, Mr. Facchini was appointed Chief
Financial Officer of the $5 billion Westinghouse Government Services
Group.
Detailed Experience
| Government and Environmental Services Company |
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| Chief Financial Officer |
1994-March 2000 |
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| Group Controller, Power Systems |
1990-1993 |
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Directed controller functions for five business units having
combined global sales of $4 billion. Responsibilities included review
and approval of financial plans and objectives, reporting results,
forecasting, policies and procedures, limits of authority, and
development of financial personnel. |
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Led task force to reengineer the financial organization and
system, resulting in a significant increase in the span of control and
reduced headcount, with a savings of $30 million per year. |
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Chief corporate negotiator on $150-million pension liability and
other post-retirement employee benefits (OPEB) issues with the
government, eliminating this as a corporate liability. |
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Restructured government accounting practices to provide for
significant recovery of cost through allowable G&A and bid and
proposal expenses, resulting in $5 million per year increase in
profit. |
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Directly responsible for financial turnaround of Engineered
Products Department, from a loss of $4 million to profit of $2 million
per year. |
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Reduced receivables from 30 to 10 days, reducing working capital
from $25 million to zero. |
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Negotiated sale of APTUS for $130 million and Controlmatic, a $200
million business. |
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Finalist in the 1996 and 1997 prestigious REACH Awards given
annually by CFO Magazine to companies for productivity improvement,
innovation and state of the art business practices in their finance
organization. |
| Westinghouse Savannah River Company |
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| Vice President and Manager, Business Service & Finance |
1988-1990 |
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Responsible for financial and business services of a $2 billion
organization. |
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Directed finance activities such as electronic data processing,
telecommunications, procurement, warehousing, stores, records
management, and productivity/cost improvement with a budget of $30
million and 1,100 employees. |
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Transformed the controller’s group basic financial systems from
commercial accounting practices and procedures to government practices
and procedures. |
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Designed and implemented a new activity-based accounting system
that paralleled the Work Breakdown Structure, in order to improve the
tracking of project costs. |
| Westinghouse Electric Corporation |
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| Business Unit Controller, Power Systems |
1986-1988 |
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| Business Unit Controller, Water Reactor Divisions |
1979-1986 |
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Directed planning and control of assets, income, cost, profit, EDP
systems and tele-communication for business unit with sales of $1.8
billion and 15,000 employees. |
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Directed financial, EDP, office systems and telecommunications of
Water Reactor Division including operations in U.S., Europe and Asia. |
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On board of directors that developed the guidelines for the
acquisition of companies to achieve growth and profit targets. |
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Served as CEO for start-up company that leveraged Westinghouse
core competencies by providing services to small companies. |
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Developed and installed EDP systems for accounting, purchasing,
and financial planning including financial consolidation. The system
was adopted by 60 percent of the corporation. |
| Controller, Nuclear Fuel Division |
1978-1979 |
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| Controller, Power Systems Projects Division |
1974-1978 |
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Directed financial planning, cost management, and accounting for
Nuclear Fuel Division operation sites in Pittsburgh, Columbia, S.C.,
and subsidiaries in Japan and Belgium. |
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Directed financial and EDP activities for international marketing
and construction of fossil and nuclear power plants for the Power
Systems Project Division, with satellite locations in Brazil,
Yugoslavia, Japan, Philippines, Egypt, Libya, and Indonesia. |
| Vice President and Controller, WENESE, Inc. |
1972-1974 |
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Directed financial and EDP activities for marketing and
construction of nuclear power plants in Europe; headquartered in
Brussels, Belgium with subsidiaries in Spain, Sweden, and Switzerland. |
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Set up the financial systems and controls to address the special
complexities of foreign taxes and currency issues. |
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Provided the financial guidance required to increase the operation
from 100 to 500 people. |
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Negotiated contracts valued in excess of $500 million for nuclear
plants in Spain, Sweden and Belgium. |
| Plant Controller, Nuclear Fuel Division |
1974 |
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Established monitoring of chemical and mechanical processes
systems and procedures, as well as directed financial and EDP
functions for the Nuclear Fuel Division’s Columbia, S.C. site. |
| Additional Westinghouse Employment |
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| Manager, Accounting, Pensacola Division |
1970-1972 |
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| Supervisor, Business Systems and Accounting |
1968-1970 |
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| Financial Analyst |
1967-1968 |
Education and professional
certifications
Masters, Business Administration; University of Pittsburgh, PA; 1967
BBA, Finance; University of Pittsburgh, PA; 1963
Memberships
St. Margaret’s Hospital, Board of Directors
Helping Hands, Board of Directors
Member Business Advisory Council, University of South Carolina, Aiken
Chairman, United Way Fund Raising
University of Pittsburgh Fund Raising
Member, National Association of Accountants
Member, Rotary Club
Executive Service Corps
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