ATLANTA, May 25, 2017 /PRNewswire/ -- Scott Rosenberg, president and chief financial officer of Purchasing Power®, the leading employee purchase program offering consumer products and services as a voluntary benefit at the workplace, has been named the 2017 CFO of the Year in the Private Company - Large category for the annual awards program presented by the Atlanta Business Chronicle and the Association for Corporate Growth Atlanta.
The CFO of the Year Awards honors Atlanta's top corporate financial stewards who are responsible for recognizing opportunities, identifying and managing risk, diminishing debt and achieving profitable growth. Winning CFOs in nine categories were announced this morning at the awards breakfast for the Atlanta business community held at the College Football Hall of Fame in downtown Atlanta.
Rosenberg was recognized as the driving force behind Purchasing Power's remarkable achievements in 2016. In addition to his financial oversight of the company, Rosenberg led several transformational activities for Purchasing Power, including negotiating the nine-figure sale of the company to a Chicago-based private equity investment firm, Flexpoint Ford, LLC, and crossing from $1 billion to $2 billion in total earned revenue within his three-year tenure (2013-2016). Additionally, he engineered a successful growth capital raise of $60 million through the sale of asset-backed securities. Rosenberg also oversaw the company's double-digit annual revenue and EBITDA growth (14.0% and 17.8%, respectively) for the year, capping off revenue and EBITDA growth of 74.3% and 95.3%, respectively, since he took the financial helm in late 2012.
In addition to his CFO duties, Rosenberg was appointed President in January 2017. Within this current role, his direct responsibilities expanded to all key commerce activities including business-to-consumer marketing, creative services, merchandising and supply chain further leveraging his prior experiences at both J. Crew and eBay. Among his most innovative business ventures this year, Rosenberg actively leveraged Purchasing Power's proprietary business software technologies to establish a partnership with the world's leading consumer electronics product company and the nation's leading healthcare provider, bringing a new wellness program to the market.
"Scott has an extremely rare blend of skills making him more valuable than your typical CFO. In addition to his core financial competencies, he is incredibly strategic and maniacally operational," said Richard Carrano, Purchasing Power CEO. "He has led a number of our most innovative product development efforts and guided our merchandising and supply chain functions through massive growth and automation. He accomplished these ancillary activities while simultaneously managing our first asset backed securitization financing and a recapitalization of our ownership structure," he added.
Purchasing Power is the leading specialty e-retailer serving U.S. employers and membership associations with a financially-responsible buying method for consumer products and services available as a voluntary benefit. Automatic payroll deductions and 12-month payment terms empower customers to budget their purchases without any concerns about interest charges, fees and penalties associated with other payment alternatives, providing users a more responsible way to buy. Purchasing Power is available to millions of people across more than 20 different industry sectors and has a client list that includes Fortune 100, Fortune 500 and Fortune 1000 companies as well as public sector agencies.
About Purchasing Power, LLC
Purchasing Power, LLC, is one of the fastest-growing voluntary benefit companies in the industry, offering a leading employee purchase program for consumer products and services as well as providing financial tools and resources to improve employee financial wellness. Purchasing Power is available to millions of people through large companies including Fortune 500s, associations and government agencies. Headquartered in Atlanta, Purchasing Power is 'Powering People to a Better Life™' through its employee purchase program, financial literacy efforts and corporate social responsibility initiatives. Purchasing Power is a Flexpoint Ford, LLC company. For more information, visit www.PurchasingPower.com.
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Juliann Kaiser, 770.643.0615
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SOURCE Purchasing Power, LLC