Lifetimes Mark Whiting Named A Utah Business CFO of the Year
June 14, 2011
Mark Eugene Whiting, chief financial officer Lifetime Products, Inc., was named a CFO of the Year in the June issue of Utah Business Magazine. Whiting was recognized for his 22-year contribution in building a "recession-proof" company and a company that has become an international player in the sporting goods and outdoor products industry.
Over the past two decades, Whiting has successfully supervised Lifetime's financial transition from a regional manufacturer of basketball hoops to a global company and brand. The year he was hired, the company's sales totaled about $7 million- a profit earned solely by the sale of in-ground basketball hoops. Presently, Lifetime's products are sold in 58 countries.
Whiting came to Lifetime Products in 1989 as Controller, with 12 years of post-university professional experience. He graduated from BYU's Accounting program in 1977, passed the CPA Exam on his first sitting, and spent five years in Public Accounting doing Audit and Tax work in Colorado, Utah, Wyoming, Arizona, and Texas. He left Public Accounting to serve as Assistant Controller for Utah Valley University, and then served as CFO for Wing Enterprises before coming to Lifetime. Whiting was recruited as Controller by Lifetime's Owner and CEO in 1989, and his title was changed to CFO in 1999.
In January of 2010, Whiting traveled to China with Lifetime President Richard Hendrickson to meet with Ambassador Jon Huntsman Jr. Whiting assisted in giving a tour of Lifetime's facilities to Ambassador Huntsman and local Chinese dignitaries.
Whiting and other award recipients will be honored at a June 29 luncheon at the Little America Hotel in Salt Lake City.
For more information about Lifetime Products, please visit www.lifetime.com.
Lifetime by the Numbers in 2010
•Annual revenue was higher than any recorded year in the company's history.
•Lifetime's international sales grew by 18% over 2009.
•Lifetime designed, manufactured, produced, and sold approximately 100 new product models.
•The company added 27 new patents to its current 489 design and utility patents.
•Six Lifetime engineers were recognized at the 2011 Utah Genius Awards, where Lifetime placed 5th in the state for total number of patents and 18th for total number of trademarks (based on patent/trademark clearance in 2010).
•Lifetime added approximately 120 new USA accounts.
•For a complete Lifetime Fact Sheet, click here.
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