Experience
Chief Executive Officer
Company Background
After acting as a consulting CFO to Lincoln Indicators for 6 years I was appointed CEO by the owner, Tim Lincoln, with a digital growth mandate, and to make sure the business incorporated all the findings of the royal commission into financial services. Lincoln Indicators is a leading stock market intelligence and funds management business. Employing sound fundamental analysis, with its origins based on the Ph.D. work undertaken by Merv Lincoln, they seek to make above-market returns for all their members. Sadly, the economic impact of Coronavirus brought this role to an abrupt end.
Major Achievements:
- Developed an aligned brand strategy, a first for the business.
- Transitioned all customer-facing staff from commission-based remuneration to fixed salaries as a result of Royal Commission findings into conflicted remuneration.
- Developed and embedded a defined sales model through the engagement of an external consulting resource supported by strategic hires to enable the operation of the defined model.
- Implemented a holistic remuneration policy for all staff based upon a defined performance framework.
- Coordinated the bringing to market of a major new managed fund product (US equity fund).
- Defined and implemented a flexible working policy and underlying IT requirements, prior to the Coronavirus outbreak.
- Refocused the business on sources of income previously incorrectly ignored due to inadequate monitoring of marketing metrics. This resulted in a major change in business focus to real value-adding activities.
CHIEF FINANCIAL OFFICER (O.4 FTE)
In my role as a part time CFO my major contribution to the business was in the following areas.
- Mentoring and acting as a reference point for the in-house finance staff. 4
- Liaising with external advisors on key legal and accounting issues.
- Restructuring of the Australian Financial Services licenses to allow the business to operate more effectively.
- The development of in-house data analytic skills to enhance the management teams understanding of the business and its key drivers of success.
- A full feasibility study into the options to undertake a capital raise and expand the business into the USA market.
CHIEF FINANCIAL OFFICER
Company Background
Engenco is a diversified industrial group servicing the railway, mining, marine, and heavy diesel engine sectors. Key suppliers include Dana, Alextech, and Comsteel with a key customer base including BHP Billiton, Queensland rail, Sandvic, Pacific National and QUBE logistics. In my time with the company the unstable operating environment did not lend itself to the normal course of business activities.
Responsibilities included:
- Establishment of monthly finance pack to be presented to the Board.
- Establishment of an in-house international tax function.
- Compliance review, including lodging several years of unfiled or incorrect subsidiary statutory accounts and tax returns.
- Development of reporting capabilities at a granular level to allow business managers to see the results for their areas of responsibility. This functionality did not exist before November 2012.
- Central treasury management. Central database for delivery of budget and forecasts to the Board.
- Consolidation of finance function into one single structure, instead of a divisional base function, including the removal and non-replacement of two divisional CFO roles. These changes resulted in significant improvements in workflow and reduced reporting cycles.
- Balance sheet review which delivered a $35m write-off in asset values related to nonprofitable assets and business streams, allowing the group to focus on core business operations.
- Commencement and withdrawal of a $25m rights issue in late 2012, to be immediately replaced with another rights issue ($28m) and takeover offer from the major shareholder.
- Renegotiation of banking arrangements to provide working capital after rights issue.
CHIEF FINANCIAL OFFICER
Company Background
AITS was the result of a Private Equity transaction in 2005 where a 65% share in the business was sold by ELDERS to JP Morgan Partners. Air International Thermal Systems is a leading provider of air conditioning units to the automotive industry. The company operates in Australia, Thailand, the USA and had two JV’s in China. 2010 Revenue was around $300m with 13% EBITDA.
Responsibilities Included:
- Oversight of global finance function. Production and presentation to the Board, of monthly results, monthly reforecast, annual business plans and detailed budgets.
- Day to day communication and negotiation with company’s banking syndicate. Day to day communication to private equity company outside of normal reporting cycle.
- Responsible to statutory accounting and tax processes for legal entities in Australia, USA, Hong Kong, Belgium, Luxemburg and Mauritius.
- Driving the business towards over delivery of the business plan upon which the refinancing deal was based. Before my arrival, every year’s business plan was downgraded the following year.
- Making the company live up to its commitments.
Major Achievements:
- Successfully led negotiation of senior facilities refinancing in period July 2008 – Jan 2009 with banking syndicate.
- Shaped the business away from the mentality of spending for growth to cash generation and growth.
- Implemented global Hyperion system. • Implemented a global standard costing system.
- Spearheaded cost reduction initiative along with interim CEO 2008/09 in response to GFC. Over 50% reduction in fixed overheads, generating over $17m dollars in cash cost reductions from cost base of $40m.
- Participating in and learning to understand China JV board meetings.
COMMERCIAL PLANNING MANAGER
Responsibilities Included:
- Providing financial guidance and endorsement in the development of all business initiatives undertaken by Telstra consumer, including both marketing campaigns and Capital projects (business case process).
- Coordination and planning in relation to budgeting and forecasting for over $10bn in revenue and around $4bn of costs.
- Overseeing monthly reporting cycle to ensure accurate and concise information was relayed to senior management to drive correct commercial outcomes.
- Acting as delegate on all matters for the Financial Controller subject to his availability.
Major Achievements:
- Driving commercial considerations into Telstra given public sector heritage.
- Development of executive summary pack to drive monthly performance reviews; 10 pages of concise and focussed analysis instead of a 200-page data pack previously used.
- Re engineered financial process around business case activity.
- Aligned disseminated data sources used in the forecasting process into a controllable and accurate single forecast data pack.
- Developed a standard tool for production of all Telstra consumer business cases.