James B Boyd
CFO & SR. VP
Silicon Storage Devices, Inc.
2000 - 2007
NASDAQ Listed: SSTI
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Principal role alongside President in “go-private” meetings, presentations and due diligence process resulting in $295 million sale of the company to a strategic purchaser.
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Heavily engaged in SST’s $45M/year licensing business, including negotiations of new licenses and revenue recognition considerations.
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Total management of pre-existing stock option restatement including evaluation, re-measurement and re-statement of 10 years of stock options which included the filing of three delinquent 10Qs and one delinquent 10K. Oversaw efforts of employees and consultants, including two law firms, three CPA firms and two compensation consultants to accomplish project within a demanding five-month schedule.
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Designed value-for-value tender offer for all underwater options as well as options with a 409A issue, and developed equitable resolutions for all employee issues stemming from blackout period that exceeded one year.
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Negotiated away proxy fight resulting in addition of only one activist shareholder to the Board of Directors, then became primary contact with that activist shareholder for all dealings with company and Board.
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Reduced tax and accounting fees, D&O premiums, SOX/404 costs and outside services costs. Transferred multiple accounting positions to China office to reduce departmental expenses, and cleaned up company’s balance sheet. Key role in 2008 restructuring resulting in a 30% reduction in quarterly operating expenses.
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Oversight responsibilities for 10 Asian tech companies classified as related-party investments totaling $93.2 million in China and $30 million in Taiwan. Handled complex related party (FIN 46), impairment, and other complex accounting issues on a quarterly basis. Instrumental in restructuring related-party Taiwan Company through reverse triangular merger to bring in new funding.
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Oversaw Oracle OSFM and B2B system implementation in an environment where over 2 million parts were shipped per day. Brought up Oracle international in Taiwan, China, Hong Kong and Singapore improving reporting and closing capabilities.
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Eliminated pre-existing material deficiency in inventory controls that had plagued company for 3 years, saving millions. Also eliminated several problematic control issues that had caused a late 10K filing in 2006.