FCA QUALIFIED FINANCE DIRECTOR, TURNAROUND, STRATEGY AND CHANGE

Strong track record of transformational change and turnarounds in retail, manufacturing and service based businesses.  Hands-on experience in mergers, business combinations and reshaping business processes, including implementation and dissolution of shared service centres.  Innovative and adaptable style focused on developing and improving business performance often to tight time scales.  Effective communicator with strong interpersonal skills and good cross-functional experience.

PROFESSIONAL EXPERIENCE

Company

Role

Sector

Turnover

Bosworth Business Mangt

2003

Senior Finance Director

Various sectors

£2m-£40m

VirtualFD

2001 - 2003

Senior Finance Director

Outsourcing

£1m–£200m

Central Trains

1999 - 2001

Finance Director

Transport

£250m

Accenture

1997 - 2001

Senior Manager

Shared services / change

£500m

T&S Stores plc

1995 - 1996

Finance Director

Retail

£500m

Halfords (Boots Group plc)

1991 - 1995

Chief Accountant

Retail

£400m

H. Samuel

1989 - 1991

Asst to Finance Director

Retail

£250m

Sears Group plc

1988 - 1989

Retail Accountant

Retail

£190m

KPMG

1983 - 1988

Audit Senior

Professional services

£50m

AREAS OF EXPERTISE

Turnaround & Financial Management

· Building and delivering robust turnaround plans, including restructuring requirements, segmental business analysis and presentation to stakeholders

· Securing of ongoing banking support

· Delivery of business restructuring and cost reduction

· Tactical cashflow planning and management

· Implementation of strict controls and costs management

· Strategic planning, business planning and modelling, commercial advice and negotiation

· Managing and mentoring in-house teams

Change Management & Shared Service Centres

· Implementation of step change and continuous improvement initiatives, leading to reduction in staffing via tight controls, process improvement, re-engineering and best practice

· Planned integration of Amoco upstream finance systems into the outsourced BP finance function in Aberdeen

· Development of outsourced solutions for global Business Process Management (BPM) offering

· Design of payroll solution and selection of external provider on $21 million project to deliver European Accounting Service Centre

Business Combinations & Disposals

· Preparing a leasing business for sale, from previously qualified accounts (57% error rate in asset data and £9m accounting error) to robust financial information and controls leading to a successful sale

· Management of due diligence processes - £15m to £190m businesses

· Integration and relocation of  Finance and Administration function of newly acquired subsidiary, closing down local offices on time and on budget

· Merging of professional membership organisation with likeminded business

Stakeholder Management

· Working with various banks’ specialist lending teams on turnaround client work

· Taking finance lead on a sales transaction working with legal advisors and merchant bankers

· Renegotiation of banking facilities and management of transition to new bankers

· Managing relationships with other external advisers such as legal advisers, auditors, tax specialists and bankers

RECORD OF DELIVERY

2003-

Bosworth Business Management Limited

Brief

Own business targeted at providing Freelance Finance Director support to the SME sector, tailored to the clients individual needs

Delivery

Working with banks, professional firms and other stakeholders to deliver successful turnarounds for example in the cutlery, paper products and services industries

Strategic advice and support to owners and management teams providing robust forward looking management information on a timely basis

Producing segmental analysis of a business to fully understand profitability

Implementation of improved controls, cost reductions and raising of new finance, for example £6.5m of Venture Capital funds

Supporting acquisitions and disposals, from due diligence management, through integration, and restructuring

Reshaping and guiding senior management teams

2001 - 2003

VirtualFD

Brief

Senior Finance Director responsible for shaping the business model of this outsourcing business as well as acting as Senior Finance Director for a number of the larger clients

Delivery

Won two major contracts with FTSE 100 business

Successful sale of an ailing vehicle leasing business

Transformation of an engineering service business, addressing a £90m historical income gap within one year, and one third reduction in staffing levels along with process re-engineering

Finance lead on a £9m systems implementation

1999 - 2001

Central Trains Limited (Part of National Express plc)

Brief

Brought in to head up finance, IT and procurement in this franchise

Delivery

Implemented strict controls to offset lost business and reducing Government grants

Delivered Business Plan justifying £74m investment in new rolling stock, and supported MD in negotiation of five year contract for train maintenance worth £76m

Led investigation into creation of shared service centre, resulting in improved best practice

Re-organised the Finance and IT teams reducing headcount by 25%

Championed Y2k compliance within the business, and liaised with the rest of the rail industry

1997 -1999

Accenture (formerly Andersen Consulting)

Brief

Initially as Change Manager on a large outsourcing contract and then designing outsourcing and shared services solutions for clients

Delivery

Developed commercially attractive solutions with benefits for clients and returns for the firm

Led change team, benchmarking, implementing step change and continuous improvement initiatives, reducing head count via process improvement and implementation of best practice

Led controls project enabling transfer of outsourced responsibilities back to Sears PLC before flotation of Selfridges

1995 - 1996

T&S STORES plc

Brief

Modernise the finance function, renewing systems, controls and reducing costs

Delivery

Integrated the back office for a new acquisition with negligible increase in staffing

Reduced headcount by the design and implementation of robust controls and automated systems dealing with store takings and control of capital projects

1991 - 1995

Halfords Limited (part of the Boots Group plc)

Brief

Establish financial controls, improve systems and reporting and reduce margin erosions

Delivery

Improved control of gross margin yield by £2.5m and secured £1.2m VAT refund

Led complete review and renewal of accounting and control procedures throughout the organisation, introducing new working practices and reorganised the finance team

QUALIFICATIONS

1987

Fellow of the Institute of Chartered Accountants in England and Wales

1985

Aston University, BSc. (Hons) Managerial and Administrative Studies