As CFO, Tugman was part of a three-person management team in Richmond Hill but also managed the administrative side. “I spent half my time on assignments that a General Manager would perform. I negotiated numerous contracts He did whatever the other two principals who were the founders, didn’t have time to do.
“The interesting thing was why I was hired; they wanted a businessman who was an accountant. In fact one of my first challenges was to manage the banks, lenders and other shareholders, something I had little experience in up to that point in my career. I also learned a fair bit about doing complex contracts, both in Canada and internationally.” He felt that the position’s great opportunity was spending the majority of his time learning new roles, as opposed to things he was experienced in. “It’s just like anything else. You have to exercise business judgment and learn it as you go.”
Dynatec had a tough time because of the cyclical nature of the industry and a downturn during his employment. However, Tugman helped it survive that downturn and helped position it for the success that was soon to come after he left.
Marsulex then recruited Tugman, where he spent 17 years.