LEA Team Spotlight: VP of Finance & Administration, Matt McClain:
Finances aren’t something any company can take lightly, let alone a startup like LEA. Fortunately, we have a guy who knows the ins, the outs, the overs, and the unders of intelligent financial strategy. And as a plus, he also currently wears the HR hat along with many other metaphorical head toppers each day.
Meet our VP of Finance & Administration, Matt McClain!
What’s your current position at LEA?
[MM] Current Title/Position: VP of Finance & Administration
My current responsibilities are putting our infrastructure in place, including NetSuite ERP/CRM, our Dealer Portal and connecting our Third-Party Logistics company via EDI. I’m also handling treasury and accounting functions.
But longer-term, this will transition to monitoring KPIs and creating Pro-forma forecasts while looking forward to more strategic opportunities.
My position plays a key role in the overall health of the company. I’ve spent a lot of time creating our employee benefits system and our business infrastructure to help LEA grow. But also tasks like connecting our NetSuite ERP system, dealer portal, and third-party logistics EDI system together.
What is your background in the industry?
[MM] My background actually isn’t in the audio industry, but more in manufacturing. I have a BS in Accounting from the Indiana Institute of Technology. But my career started with Dana Corporation where I completed their Financial Management Trainee program. The program gave me experience in Internal Audit and manufacturing accounting. Then, I transitioned into a Plant Controller for one of their manufacturing and distribution facility.
I also worked for a couple of other large companies; Robert Bosch (Manager IT Controlling) and Whirlpool (Sourcing Manager – Global Indirect Procurement Manager IT). These large organizations allowed me to grow professionally in finance/accounting while also developing as a leader.
So, after the large companies, I became Director of Finance and Corporate Controller for Schafer Industries. This was a smaller privately held organization. The smaller company provided me the opportunity to grow in other business areas such as Treasury Management, Risk Management, customer negotiations, and building relationships.
During my time at Schafer Industries, we completed two acquisitions and moved two facilities into other locations. I also played a key role in selling the organization to new ownership. This included preparing and presenting to multiple buyers and working to find the best fit for the transitioning owners and employees.
How has your background prepared you to help LEA be successful?
[MM] My background is diverse. I have worked and learned in large fortune 500 companies as well as smaller privately held manufacturers. I’ve learned that successful organizations have good infrastructure in place. So knowing that we are investing a lot of time and capital to build our systems. But more importantly, implementing them as they are designed and not customizing solutions for legacy issues.
What is it that you like about audio technology?
[MM] I like that we are in a fun space. My background is the manufacturing automotive, industrial, and agriculture products. But the audio space, in general, comes across as fun. Also, we are bringing new technology into the market and you can feel the buzz being generated. It’s exciting to see the collaboration and development of a product that fills a void in the market.
What is the most exciting thing about joining LEA and the work you are doing?
[MM] The most exciting thing is creating something new and seeing the impact of my work since the first day.
What are your personal hobbies or what do you like to do in your downtime?
[MM] I enjoy attending my children’s sporting events and vacationing to warm climates.
