Stephen Fanning

President and Chief Executive Officer at Spectrum Solutions
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Contact Information
us****@****om
(386) 825-5501
Location
Draper, Utah, United States, US

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Experience

    • United States
    • Medical Equipment Manufacturing
    • 1 - 100 Employee
    • President and Chief Executive Officer
      • Jul 2019 - Present

      12248 S. Lone Peak Parkway, Draper, UT 84020 Spectrum Solutions is primarily focused on designing, developing and manufacturing saliva based proprietary DNA preservation solutions and collection devices for the direct-to-consumer genetic testing market and also provides kitting, fulfillment and premier packaging for prestigious consumer brands.

    • United States
    • Medical Device
    • 1 - 100 Employee
    • President and Chief Executive Officer
      • Mar 2014 - Mar 2018

      4 Fairfield Blvd., Wallingford, CT Recruited by a major private equity firm (DW Healthcare Partners) to significantly increase Sales and EBITDA and position this highly innovative company in the hemostasis category for merger or acquisition opportunities. • During three year tenure, increased sales from $28.6MM to $45.7MM and increased EBITDA from $6.8MM to $15.7MM. • Restructured US Healthcare sales team. • Led initiative with American College of Surgeons to develop products, programs and training to stop… Show more Recruited by a major private equity firm (DW Healthcare Partners) to significantly increase Sales and EBITDA and position this highly innovative company in the hemostasis category for merger or acquisition opportunities. • During three year tenure, increased sales from $28.6MM to $45.7MM and increased EBITDA from $6.8MM to $15.7MM. • Restructured US Healthcare sales team. • Led initiative with American College of Surgeons to develop products, programs and training to stop bleeding during mass casualty events. • Successfully transitioned the company from a heavily concentrated military business to a more recurring revenue stream by increasing U.S. Healthcare Business + 40% CAGR. • Successfully expanded product distribution in key international markets. • Led process for a highly-successful sale of the company (13.2X EBITDA). Show less

    • United States
    • Medical Device
    • 200 - 300 Employee
    • President & Chief Executive Officer
      • 2005 - 2013

      Hayward, CA Responsible for leading worldwide aesthetic medical device company, growing annual sales from $47.0MM to $170.0MM. • Led successful IPO in November 2006. • Developed preeminent industry product portfolio via four key acquisitions and internal R&D development. • Developed industry leading capital equipment disposable business model producing gross margins exceeding 66%. • Responsible for dealing directly with all key shareholders and presentations at key financial industry… Show more Responsible for leading worldwide aesthetic medical device company, growing annual sales from $47.0MM to $170.0MM. • Led successful IPO in November 2006. • Developed preeminent industry product portfolio via four key acquisitions and internal R&D development. • Developed industry leading capital equipment disposable business model producing gross margins exceeding 66%. • Responsible for dealing directly with all key shareholders and presentations at key financial industry conferences. • Developed significant increase in Wall Street analyst coverage. Eight analysts covered Solta prior to the sale of the company. • Personally recruited six of seven board members following the IPO launch. • Developed highly-differentiated consumer branding strategy for the Aesthetic Energy Device category producing highest industry Share of Voice. Show less

    • Medical Device
    • 1 - 100 Employee
    • President & Chief Executive Officer
      • 2001 - 2005

      Concord, CA Reporting to Company Founder with demonstrated effectiveness in leading and managing all business operations worldwide for a $350MM global public company (OCLR) manufacturing and marketing disposable contact lenses. Key accomplishments include: • Three year compound average sales revenue increase of 22%. • Three year compound average net income increase of 17%. • Reduced Cost of Goods Sold + 50% via new manufacturing process. • Increased Gross Margin + 7 points (59% vs… Show more Reporting to Company Founder with demonstrated effectiveness in leading and managing all business operations worldwide for a $350MM global public company (OCLR) manufacturing and marketing disposable contact lenses. Key accomplishments include: • Three year compound average sales revenue increase of 22%. • Three year compound average net income increase of 17%. • Reduced Cost of Goods Sold + 50% via new manufacturing process. • Increased Gross Margin + 7 points (59% vs. 52%). • Increased new product sales from 7% of annual revenue to 37% via new product launches. • Increased international sales mix from 34% to 57%. • Completed two major acquisitions. • Increased shareholder value prior to merger discussions +68% ($22/share to $37/share). • Increased Wall Street analyst coverage from 3 to 5 analysts. • Extensive media experience (Bloomberg, CNN, The Money Gang, etc.) Show less

    • President, Worldwide
      • 2000 - 2001

      New Brunswick, NJ MCNEIL SPECIALTY PRODUCTS, New Brunswick, NJ President, Worldwide (2000-2001) Responsible for Johnson & Johnson’s no calorie sweetener (Sucralose) business reporting to the Worldwide Chairman Nutritional Products. Primary focus on Consumer Branded Products and Ingredient Manufacturing within the Food and Beverage industry. Direct responsibility for all business functions: Sales, Marketing, R&D, Quality, Operations, Regulatory, Finance and Human Resources. • Launched Splenda®… Show more MCNEIL SPECIALTY PRODUCTS, New Brunswick, NJ President, Worldwide (2000-2001) Responsible for Johnson & Johnson’s no calorie sweetener (Sucralose) business reporting to the Worldwide Chairman Nutritional Products. Primary focus on Consumer Branded Products and Ingredient Manufacturing within the Food and Beverage industry. Direct responsibility for all business functions: Sales, Marketing, R&D, Quality, Operations, Regulatory, Finance and Human Resources. • Launched Splenda® (Sucralose) which significantly exceeded introductory sales and market share expectations. • Successfully launched Splenda® as a sweetener ingredient with major branded Food and Beverage manufacturers. • Completely refocused and re-staffed Sucralose manufacturing plant and reversed disappointing plant start-up. • Developed new organizational structure, which reduced SG&A 6 points and provided greater flexibility to achieve business plan goals. • Developed worldwide Sales and Marketing joint venture partnership with a major sweetener company. Show less

    • President, U.S.
      • 1995 - 2000

      Arlington, TX Managed $500MM Medical Device Company employing over 5,000 people in Manufacturing, Sales, Marketing, Finance, Information Management, R&D, Human Resources, Quality and Regulatory. Company structure focused on 5 primary business units: Infection Prevention, Tissue Regeneration, Vascular Access, Skin and Wound Care. • Returned company top line sales growth +7%. • Restored profitability with subsequent year-upon-year profit growth. • Implemented new product development process and… Show more Managed $500MM Medical Device Company employing over 5,000 people in Manufacturing, Sales, Marketing, Finance, Information Management, R&D, Human Resources, Quality and Regulatory. Company structure focused on 5 primary business units: Infection Prevention, Tissue Regeneration, Vascular Access, Skin and Wound Care. • Returned company top line sales growth +7%. • Restored profitability with subsequent year-upon-year profit growth. • Implemented new product development process and accelerated new product sales growth +7% points. • Reduced SG&A costs 4 points. • Re-staffed 70% of Management Board and significantly reorganized company structure to focus on growth franchises. • Improved manufacturing efficiency in 3 major manufacturing sites (Wound Care, Vascular Access and Infection Prevention) via new equipment, proprietary manufacturing processes, workforce reduction and Six Sigma. Produced a 25% reduction in finished goods inventory. • Actively directed and developed 6 new product licensing and marketing alliance opportunities. Show less

    • Managing Director
      • 1994 - 1995

      Austria/Switzerland Responsibility for over $70MM of sales within one of the company's most profitable European regions. Direct reporting relationship for all business disciplines, full profit and loss decision-making process with total employee population of 250 people. • Developed and implemented a Marketing offensive program to combat the launch of a new line of competitive products. • Reengineered the Austria and Switzerland business processes via a cross-functional team effort. Reduced SG&A 10… Show more Responsibility for over $70MM of sales within one of the company's most profitable European regions. Direct reporting relationship for all business disciplines, full profit and loss decision-making process with total employee population of 250 people. • Developed and implemented a Marketing offensive program to combat the launch of a new line of competitive products. • Reengineered the Austria and Switzerland business processes via a cross-functional team effort. Reduced SG&A 10 points. • Led a European effort to initiate successful U.S. business practices in the areas of Category Management and customer cross-functional teams. Show less

    • Canada
    • Technology, Information and Internet
    • 1 - 100 Employee
    • Vice President Sales
      • 1991 - 1994

      Fort Washington, PA

    • Sales Representative
      • 1973 - 1976

      Los Angeles, CA

Education

  • Philadelphia University
    Bachelor’s Degree
    1969 - 1973

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