FCIB Member Profile: Wayne Schobel.(Finance, Credit and International Business Association)

Wayne Schobel, Manager of Credit and Collections for Pactiv Corporation (formerly Tenneco), headquartered in Lake Forest, Illinois, Is the Chairman of FCIB, the Finance, Credit and International Business Association. He also serves on the NACM-National Board of Directors. Schobel joined FCIB in 1990 when he assumed responsibility for the international side of Mobile Chemical's credit operations; however, his affiliation with NACM dates back to 1978 when he was employed by Mobil Oil and became Credit Manager of the Crude Oil and Finished Products group.

Reflecting on his first credit management experience, Schobel recalled, "I was working in sales when management asked me to take on the credit operations of the Crude Oil and Finished Products Group. Since I knew very little about the credit side of the business, I had to learn everything on the job. At this time, Mobil had just been hit with a million dollar bankruptcy--the first time this had ever happened in the oil business."

Schobel's sales and marketing experience proved to be invaluable when he assumed the credit management position. "The Plastics division dealt directly with the consumer sales and foodservice/food packaging side of the business," Schobel noted. "One of the biggest challenges I encountered at that time as credit manager was the lack of understanding and interface that existed between the credit and the sales areas. My sales experience provided me with the insight necessary to facilitate a better understanding between the two. The established daily mantra became: 'It is part of the credit professional's job to help make the sale go through.' This was a somewhat novel concept for the credit department at that time. To reinforce this, I insisted that the credit staff get involved in sales meetings and on-site visits, as well as other sales-related interactions. It was an extremely successful strategy that I have continued to promote."

In 1995, the Mobil Chemical Plastics Division was acquired by Tenneco Packaging and Tenneco made him an offer he couldn't refuse. He accepted the position of Manager of Credit and Collections, moving from Rochester, New York to Lake Forest, Illinois. "This was an extremely interesting and challenging period in my career," Schobel remarked. "Tenneco was acquiring a number of very diverse businesses, and it was my responsibility to oversee and manage the consolidation and centralization of their various credit functions.

Faced with integrating a number of different computer systems, we decided to implement a program called GETPAID [R]. This program allowed us to successfully consolidate all of the diverse businesses and monitor our receivables across the board." Schobel added, "They still use GETPAID, as well as SAP [R] and several other systems."

In November 1999, Pactiv Corporation, a spin-off of Tenneco Packaging Inc., was formed and Schobel became its Corporate Credit and Collections Manager. A leading international provider of advanced specialty packaging solutions, Pactiv has expanded its product offerings through more than $2.2 billion in acquisitions, including Mobil's Plastics division; Amoco's foam products unit; KNP BT's protective and flexible packaging businesses; Hexacomb, manufacturer of Kraft paper honeycomb products; and Richter Manufacturing, a leading protective packaging manufacturer. Employing 17,000 people worldwide, Pactiv generated revenues of about $3 billion in 2000.

Unlike most in the credit profession, Schobel's educational background is in government, rather than in business or accounting. "Although this provided me with a global perspective with regard to politics and economics, I needed the credit-specific information and training that only NACM could provide. When I joined NACM in 1978, Mobil's Films and Packaging Division had a strong international presence. I quickly became an active participant of the Petroleum Group sponsored by the NACM Minneapolis affiliate. I also took advantage of other educational offerings that NACM provided, as well as the networking opportunities that I needed to effectively perform my job."