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Jim Maddox Joins Kaplan CFO Solutions

Kaplan CFO Solutions, the region’s largest provider of interim CFO services, has announced that Jim Maddox has joined the firm’s Kingsport, TN office. Jim comes to Kaplan CFO from First Community Bank (Kingsport) where he served as Vice President and Chief Financial Officer. Prior to that, he was Manager, Treasury Operations for Wellmont Health System, a regional network of hospitals and healthcare facilities serving communities in Northeast Tennessee and Southwest Virginia.

Maddox moved to the Tri-Cities in 1998 after spending ten years with E.I. DuPont de Nemours as an Auditor and Advanced Accounting Analyst. Since then, he has dedicated the last 23 years to helping build some of East Tennessee’s foundational companies.

In 1998, he joined Eastman Chemical Company where he joined the Accounting organization and shortly moved to the Corporate Treasury Division. In 2001 he advanced to become the Manager, Cash Management which included management and leadership of Eastman’s global Treasury and Cash Management, responsible for global cash management and forecasting among other things. In 2006, Maddox joined a manufacturing Business Unit as a Growth Project Manager. The Growth Management organization was responsible for leading the efforts of multidisciplinary teams in identifying strategic opportunities for organic and inorganic growth across the $6.8 billion Fortune 500 company. He also earned his Commercial Six Sigma Black Belt while at Eastman.

In 2009, Jim joined Wellmont Health System, and provided oversight for Cash Management, Accounts Payable, Payroll, Debt Management, Investment Management, Internal Controls and Lender/Banking relationship management.

“Jim brings a unique mix of experience and skills to Kaplan CFO. As a former CFO of a community bank, he understands that industry from the inside out. Additionally, he has significant experience in Treasury, Cash Management and Process Improvement management and reporting for a Fortune 500 manufacturing company and financial management experience with a large hospital system. His experience in large organizations translates very well to smaller mid-size businesses that we work with,” said Ken Kaplan, the firm’s CEO.

Maddox joins Mike Holt, another Kaplan CFO based in the Tri-Cities. Maddox’s arrival comes at a time when businesses across eastern Tennessee and western Virginia are ramping up.

“Our business in the Tri-Cities has been picking up as companies navigate their way through what we hope is the end of the COVID-19 pandemic. CEOs and owners have a lot of questions about what comes next and how to strengthen their financial and operating positions going forward,” Kaplan explained.

After 30 plus years in advanced roles with large multinational and local companies, Maddox briefly tried his hand at retirement, but the time wasn’t right.

“I recognized that I wanted to use my knowledge, skills and abilities to assist other regional companies in achieving their mission and vision. It was exciting to find a company like Kaplan CFO Solutions that shares the same focus on adding incremental value to the client’s long term success and growth,” he explained.

Originally from Southwest Virginia (Roanoke), Maddox spent five years in the Navy where he met Marylyn, his wife of 36 years. Within the local community, he has served on the boards of the United Way of Greater Kingsport and Contact Concern 211 and is a graduate of the Leadership Kingsport program sponsored by the Chamber of Commerce.

ABOUT KAPLAN CFO: Established in 2008, Kaplan CFO Solutions is a team of veteran independent CFOs working with fast-growing small to mid-sized businesses and those in transition. Working on site as part of the client’s management team, Kaplan CFOs manage the day-to-day financial operations and help create the business processes and relationships clients need to succeed at the next level. The firm serves the business communities across western North Carolina, the Tri-Cities and the Upstate of South Carolina.

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