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Finance director/controller

Finance director/controller

Work Experience

NRG Group plc, London (formerly Gestetner Holdings plc)

A FTSE 250 listed company, until taken over by its major shareholder, Ricoh Company Ltd of Japan, NRG is a major player in the office equipment, solutions and document management business, marketing its products throughout Europe, Africa and the Middle East, with turnover of £800m. NRG also has a significant presence in the Australasian film and photographic market where it markets products under the Fuji and Hanimex brands.

Group Finance Director 1993 – 2002

Leadership responsibility for Financial Control, Tax, Treasury, Legal and IT, with a team of 30 staff in London and 15 subsidiary company FD’s reporting on a functional basis. Also directly responsible for the Group’s photographic activities in Australasia and the Group’s publicly listed subsidiary in India.

Played a leading role in restructuring NRG and in establishing a profitable position and a strong balance sheet for the Group.

· Led the renegotiation of £180m. of facilities with bankers to secure the Group's continuity.
· Prepared and completed the disposal of office equipment and photographic businesses in some twenty countries netting £250m. to reduce Group debt and eliminate loss making activities.
· Established £100m. revenue joint venture covering eight countries and based in Hong Kong, to strengthen the Group's office equipment market presence in S.E. Asia.
· Managed tax driven company reorganisations throughout NRG to save £10m. taxes in Japan.
· Made the Group more manageable by implementation of effective control systems: authorities and policies, new reporting systems, shorter reporting cycles, more accountability within HR processes, and new treasury management processes.
· Redefined Group IT strategies (e.g. back office, logistics, CRM) to produce 5 year IT plan/budget for hardware, communications and software in response to rapidly changing market demands.
· Restructured the Group's pension scheme (£180m. assets) to introduce defined contribution, change fund managers, and reduce overall risks/costs.
· Completed acquisitions in several European markets to enhance existing market positions in the office equipment business.
· Developed the strategic plan and capital budget for the Australian photographic business, generating £100m. revenue, to protect its 30% market share in face of threats from digital technology.

Trustee of the NRG Pension Fund and a Director of the NRG Charitable Foundation.


Inchcape plc, London

Listed UK Support Services company, with a turnover of £6.0bn. Worldwide operations in various sectors – motors, insurance, shipping, marketing and distribution, inspection and testing, and buying services.

Director, Group Financial Control 1987 – 1993

Responsible for group wide financial control and review as well as all aspects of group statutory reporting and management accounting. Member of the Group Management Board.

· Established and developed a team of financial controllers to review and drive performance of all business activities in response to the perceived under performance and under valuation of a highly fragmented and decentralised group.
· Reviewed and recommended to the Board on all capital investment decisions, acquisitions, and disposals, of which the largest was £375m. Participated in numerous due diligence exercises across all businesses in both the UK and overseas.
· Established financial performance standards and targets for all businesses as part of the annual budget and mid-term strategic planning processes. Defined specific KPI’s appropriate to Inchcape’s diverse portfolio of businesses and introduced these into regular management dialogue.
· Orchestrated regular business reviews, shortened the cycles of management and statutory reporting, implemented new reporting systems to reflect the dynamic group structure.

Share price quadrupled in four years. Inchcape listed as one of the ‘best 50 financially managed organisations’ by one of the big audit firms.

Ladbroke Group, London
Finance Director, Leisure Division 1985 – 1987

A division of the Ladbroke Group with businesses in holidays, leisure clubs (health, snooker, bingo, arcades), small hotels and catering. Ladbroke wanted to separate the leisure businesses from the hotels. One of my initial tasks was the reorganisation of a large back office function into two parts, one servicing the hotels division and the other the leisure activities. Ladbroke eventually exited all these leisure activities and, before I left to join Inchcape, I was directly involved in the disposal of its bingo, arcades, catering and health club businesses from preparation of sale prospectus to completion of deals.

Dowell Schlumberger, London/Paris
Group Internal Audit Manager, then Region Financial Controller (Africa) 1981 – 1985

Nashua Corp., Brussels
Europe Region Chief Accountant 1980 – 1981

ITT (Europe) Inc., Brussels
Financial Analyst (various roles) 1974 – 1980

Ford Motor Company, Essex
Graduate Trainee/Financial Analyst 1972 – 1974




Education

BSc Economics, University of Wales, Cardiff, 1968-71 FCMA, 1976 – prizewinner

Skills

Group Finance Director with wide-ranging international experience in marketing and distribution, support services, leisure and hotels, and in oilfield services. Highly effective at leading a broad spectrum of financial functions, with a proven track record in managing large acquisitions and disposals as well as significant reorganisations.

Exceptionally versatile with the ability to adapt from the challenges of a complex, fragmented group, to the practical and commercial realities of resolving issues in a specific business. A reputation for achieving results and for maintaining the highest standards of integrity and reliability, whilst managing relationships with analysts, bankers, auditors and other key stakeholders.


Languages

English , French.

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