Alberto Fornaro | Duluth, GA
Alberto Fornaro, CFO/ Managing Director
Chief Financial Officer / Managing Director
International Business Leadership / Strategic Planning & Implementation / Business Development / Treasury and Risk Management / GAAP and IFRS Practices / Business Control
Alberto Fornaro is an operationally oriented C-Level Executive offering a distinguished career in building, strengthening, and leading corporate finance, treasury, accounting, sales, marketing and other operational functions for high-growth public and private organizations. He has proven success in pioneering successful business strategies that broadened global sales reach, created new business opportunities, and achieved unprecedented financial growth (e.g. under his leadership CNH Capital’s before tax profitability increased from $9 million to $237 million within 3 years; Bobcat's operations were restructured and turned around in the most severe downtrend in the construction equipment industry).
Mr. Fornaro’s strong leadership, decision making, and consensus management talents have enabled him to accomplish ambitious goals and effect great change by identifying critical issues, improving processes, and setting vision and focus to succeed. Some of his major strengths include his significant global exposure complemented by his ability to direct, coach and motivate multi-national / multi-cultural teams. He is an also open and approachable communicator possessing fluencies in English, Italian and French.
Most recently, Mr. Fornaro was the CFO of Doosan Infracore Construction Equipment, headquartered in Atlanta, GA. Doosan is the industry leader in the engineering, manufacturing, and marketing of compact and heavy construction equipment representing brands, such as Bobcat, Doosan, and Montabert with $6.5 billion in revenues.
During his tenure at Doosan Infracore Construction Equipment (DICE), he leveraged his exceptional international financial leadership experience by integrating corporate accounting and financial reporting / planning, along with business control, treasury, tax, credit, internal audit, and supply chain functions as the worldwide CFO of Global DICE and President of its European, Middle Eastern and African operations. He oversaw performance of more than 300 finance professionals through direct management of Regional CFOs and Controllers. Also as President of EMEA division, he provided strategic business planning to all areas of operations, including Sales, Marketing, Manufacturing Sourcing, Supply Chain, Logistics, Engineering, Product & Business Development and Administrative functions. (2000 employees with $800 million in operating revenues throughout EMEA).
While CFO of Doosan Infracore International (Bobcat), Mr. Fornaro led the restructuring of corporate accounting and finance functions for the newly launched international organization, Doosan Infracore International. He was responsible for development and implementation of new procedures enabling reduction of annual closing from 11 to 5 days, while standardizing P&L format, chart of accounts for management reporting across businesses and regions, and linking key financials to business initiatives. Mr. Fornaro also previously served as General Manager and CFO of Technogym, the second largest worldwide manufacturer of fitness equipment with revenues in excess of $500 million. While at Technogym, he developed, launched and managed the strategic growth plans aimed at doubling profitability over 3-year period and provided leadership needed to prepare staff for potential IPO. He held additional leadership responsibilities for Information Systems, Legal and Corporate Affairs business lines, along with direct and in-direct management of 1,000 employees.
Mr. Fornaro spent 12 years with CNH Global/Fiat Group in Italy and the US. CNH is a $13 billion global leading agricultural and construction equipment manufacturer listed on NYSE with majority shareholder being Fiat SPA. During his employment, he served as Vice President Finance Worldwide Agriculture Business CNH Global ($8 billion agriculture business), Vice President Finance & Chief Risk Officer CNH Capital( $13 billion in assets), Vice President and Treasurer, CNH Global, and Vice President Group Foreign Exchange & Currency Flows, Fiat Spa.
In his earlier career, Mr. Fornaro spent several years in banking including derivatives manager for the second largest bank in Europe and the treasurer for a large regional bank in Italy.