James J. Formanek Sr.

410-838-2794 (Home) jamesformanek@yahoo.com

410-652-4356 (Cell) BelAir, Maryland

Uncompromising Senior Executive Manager, Developer, Strategist, Sales-

Marketing, Team & Organization Building and Financing Leader Helping Companies
Thrive and Profit From Change
 A Never Say Never Leader known for opening golden doors of new and
exciting opportunity.
 Thrives out in the streets talking to consumers. Selling not by price but by
value.
 Aggressive, hunter mentality for leading, developing and growing
businesses.
 Reputation for taking new ideas and concepts and bringing them to fruition.

—— P R O F IL ———
E
Dogged, Fearless, Sharp, Inventive, Contagiously Optimistic
Determinedly assess all business for potential impact on world markets, using a
deadly irresistible sales approach with charismatic integrity that creates an emotional
attachment to my company
Well-rounded, diverse nature and skill spanning all areas of business management,
including development of overseas operations, creation of innovative products, expansion
into new markets with greater market share, orchestration of major change, e-commerce
strategies
 Start-Up & Turnaround Management
 Change & Crisis Management
 Business Development Results
 Proactive, Resourceful Strategist
 Consistently Exceed Company Objectives

 Launched and established a successful mortgage company from the ground up

 Track record of increasing sales, reducing costs, and achieving double-digit revenue
and profit gains
 identifying lucrative new business and market opportunities
 Conducting needs assessments and spearheading grassroots and guerrilla
marketing/sales tactics
 Consistently deliver superior sales results and stellar customer service
 Leverage technologies for alternate uses to company planning
 Open up new avenues for distribution resulting in increased sales
 Stealing shelf space from competitors to increase client dependence for expanded
business relations
 Reputation for consistently winning more referral business than other officers of
multiple successful firms including industry leader Wells Fargo
 Traveled extensively throughout the US, Europe and Asia developing new product and
services with current and fledgling accounts, opening new manufacturing channels in
Asia and bringing new exciting product to major chain stores
Southern China / Taiwan / Singapore / Thailand / South Korea / Japan / Malaysia / England /
Holland / Netherlands / Germany / Italy / France / Poland / Hungary / Czech Republic / Slovakia
/ Canada

MILESTONES
♦ Spearheaded multimillion-dollar advertising promotions and campaigns to
stimulate and sustain growth for a chain retailer at 100%-150% annually,
achieving 46% net/cross ROI within two years, reducing multiple millions in inventory
by 10% and more than doubling inventory turns from 1.5 to 3.5
♦ Led the first U.S. manufacturing operation to use imported components from
Asia, negotiating special letter credit terms to make it possible to receive components,
make the product, ship and take payment before bill became due
♦ Led successful turnaround of a haphazardly run profit-losing division with a 6-
fold sales surge from $25 million to $150 million, with a $75 million net profit before
tax ROI
• Drove market share from Zero to 9.7%
• Rose to top 5 of sellers of all major brands within 4 years
♦ Built company from ground up that manufactured product in U.S. using JIT
system during industry contraction that was lauded by industry for producing a high
quality American-made product
♦ Introduced several improvements to real time information security technology
for retail sector, identifying new uses throughout the marketplace, expanding revenue
streams/sources, enabling separation of components to increase sales, and ability to
integrate system with any already in place. Led to selling services to federal agency
NSA
♦ Developed and introduced a new lightweight more durable compound for use in
athletic footwear manufacturing, selling 1.5 million pieces at over $60 million in
gross sales
• Tested in both Asia and U.S. found it superior to any competitor’s product,
prompting development of a brand new innovative product that literally flew off the
shelves with reorders and demands to develop new expanded product line
• Successfully negotiated with Asian manufacturers a wholesale price that yielded a
whopping 48% Gross Margin that turned into an unheard-of 42% net margin

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 • Threatened with being fired and blackballed from industry if at least 1% of product
returned as defective — and only 1 piece in 1 ½ million was returned
♦ Achieved dramatic, progressive growth upon building a stand-alone
manufacturing facility, designing new product line, orchestrating Asian factory
participation, sourcing components and selling new products
•Tripled second-year sales to $1.5 million with another half-million in backlog
•Won $15 million in contracts the third year with Walmart
•Delivered 40% ($6 million) in net product
•Increased professionalism, productivity and morale 1000% by purging unproductive
staff of 30 and doubling pay of remaining 5
♦ Forged partnership between Sportech Inc. and venture capitalist and secured major
deal pending sale for $10 million

Key Assorted Metrics

 Achieved 48% gross margins and 40% net margin of $60 million, while reducing costs
by 19%

 Generated $2.4 million in last half 2006 on track for 30% projected year over year
sales growth

 Generated $5.7 million in 2004, with anticipated growth in 2006 targeted at 25% of the
prior year's sales

 Generated $5 million in first year sales upon creation of new marketing plan, meeting
net targeted profit margins of 40%

 Achieved 46% gross margins for Puma N.A. with vigorous focus on international
accounts and use of a combination of material, factory and design choices

 Achieved 48% overseas gross margin for an upscale Italian sportswear startup

 Realized 30 days of “free” interest on purchases through strategic negotiations of

letters of credit with Asian factories and customers

AREAS OF EXPERTISE
• Sales & Marketing Leadership
• Sales Forecasting
• Territory Development
• Budgeting
• Margin Building
• Promotions
• Business Sales Plans,
Processes, Models
• B2B Sales
• Outsourcing P&L Responsibility
• Strategic Planning
• Merchandising
• Product Development & Costing

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• International Business
• Contract Negotiation
• Financial Reporting Systems
• E-commerce business strategies
• International Sales/Marketing
Presentations
• Collateral Marketing Material
Development
• Float Manufacturing Contracts
• Competitive Pricing
• Costing/Pricing
James Formanek
• Foreign Trade
• Manufacturing
• Customer Relationship Building
and Management
• Just In Time (JIT) Methodology
• Market Research Analysis
• Contract Negotiations
• Cost Structuring
• Product & Component Sourcing
• Client and Vendor Relations
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CAREER HISTORY
Senior Mortgage Banker/Loan Officer, Sales/Business Development Executive
Mortgage Industry 2001-Present

Senior Consultant - Business Development and Sales

PCT-3/Cronus Inc. 1999-2001

Director/Children's Senior Manager

Puma NA 1998-1999

Vice President of Marketing

Ellesse USA 1997-1998

Product Line/Category Manager

FILA USA 1993-1997

Earlier Career
Senior Buyer –
Shoe Show with The Shoe Departments
President/Owner of Sportech Inc.

EDUCATION/DEVELOPMENT
B.S.-B.A., Economics/Marketing/Statistics/Religion
Villanova University, Peabody Conservatory of Music

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