Steven Raft

I am a strategic C-level operations and finance leader. By deeply understanding the organization, its customers, products, and processes, I deliver exceptional results. 

About Me

My Career

From October 2014 through January 2017 I was the Chief Operating Officer  of ALFRED PUBLISHING, a 95-year old printed music publisher that is the second largest in the industry. 

I was responsible for day-to-day operating activities of 6 direct reports with 79 staff covering Sales and Marketing Operations, IT, Purchasing, Business Affairs including legal and licensing, Upstate NY distribution center, risk   management, insurance, and strategic planning. I successfully lead an organizational and financial restructuring including a 20% reduction in force, divestiture of unprofitable subsidiaries and lines of business that resulted in a 3.2X increase in EBITDA in 12 months on 4.5% less revenue. I also lead the successful financial restructuring with a strategic partner, eliminating all external debt and providing technological opportunities that the prior debt and equity structure would not support.   


From November 2012 to October 2014 I was the Chief Financial Officer of ALFRED PUBLISHING.  

During my tenure as CFO, I lead a successful but tenuous and difficult debt restructuring effort resulting in the refinancing of more than $35 million in first lien, mezzanine, and seller-financed debt that was all in default with impatient lenders. I initiated and lead the reorganization of middle management removing operational silos and creating a level of accountability and responsibility that did not previously exist. I was responsible for finance and accounting and all reporting, risk management and insurance, IT, Purchasing, Upstate NY distribution center as well as foreign subsidiaries’ financial operations. I partnered with the CEO to lead strategic planning efforts to reposition company to deal with the impact of digital changes to the printed sheet music industry.                          


From March 2007 to November 2012 I was the Chief Operating Officer of MONTAGE DEVELOPMENT, INC.,  a real estate developer that specializes in developing land and constructing homes for first-time homebuyers. 

This was a high-profile leadership position as #2 executive in a multi-million dollar closely-held corporation with 42 property development and holding company entities.  In response to the real estate downturn   that began in mid-2007, I worked with the CEO to restructure business operations and staffing to pivot from builder/developer to fee-based   construction/development/sales services to banks and other financial   institutions on projects in California, Colorado, North Carolina, and Utah.  I was responsible for all accounting and financial reporting, budgets, personnel, accounting controls, policies, procedures, corporate governance, IT systems, and corporate communications matters.  I successfully restructured over $30   million of construction debt that removed personal guarantees from   principals.   


From June 2004 to March 2007 I was the Chief Operating Officer of MWH DEVELOPMENT CORP., a real estate development and construction company that developed land and constructed homes for first-time and luxury homebuyers. 

I managed full range of corporate and construction operations for 38 single-purpose entities with full P&L responsibility. I supervised a 42-person team encompassing development and entitlements, construction, customer service, sales and escrow, design and architecture, accounting and  finance. I lead financing efforts for over $250 million first lien and second lien debt related to the acquisition, development and construction of over 1,600 residential lots.   


From June 1998 to June 2004 I was the Chief Financial Officer of CERWIN-VEGA, INC., a world-renown loudspeaker designer and manufacturer for home, car and professional use. 

I lead the reorganization to maintain financial stability following ownership change and leadership transition. I was responsible for all financial and administrative activities including finance, accounting, planning, budgeting, tax, cash management and risk management. I was a key   contributor to development of national programs with Sears, Best Buy, Guitar Center, Rex Stores and all regional and international distributors. I partnered with the company’s turnaround management consultants and investment bankers to ensure seamless transition of ownership in 2002.


From April 1997 to June 1998 I was the Chief Financial Officer of  TOMORROW’S MORNING, INC., a publicly-traded children's media company who produced an award winning weekly newspaper for children 10 to 15 years old.

I managed all functions in finance, accounting, planning, treasury and investor relations for this NASDAQ SmallCap listed public company. I worked  directly with outside auditors and securities attorney on all SEC filings. I strengthened the company’s financial position through termination of floating price stock option plans.       


From November 1985 through April 1997 I was a CPA at ENTOUS & ENTOUS, INC., a CPA firm based in Encino, CA.  

My career at Entous & Entous progressed as follows - Staff   accountant from 1985-1988, Manager from 1989-1992, and  Shareholder from July 1992 until April 1997. As a firm we provided superior audit, consulting, and sophisticated tax planning/preparation for clients in a diverse array of industries such as music, consumer electronics, manufacturing, direct  marketing/infomercials, real estate and professional services such as   physicians and attorneys.

More About Me

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Education and Certifications

 Bachelor of Science-Business Administration-Accounting, California state university-Los Angeles, Los Angeles, CA – 1984 

Certified Public Accountant, State of California 50934E (inactive) 

Certificates from General Electric - Change Acceleration Process and  Workout

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Awards and Recognition

Recipient: 2015 San Fernando Valley Business Journal “Top CFO” Award 


Finalist: San Fernando Valley Business Journal “Top CFO” Award in 2009, 2013, and 2014 

Finalist: Los Angeles Business Journal CFO of the Year, 2013

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