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Erik ter Horst

Vice President/ CFO

  • London
  • +31645892127

Summary

Seasoned senior executive; cross-functional and highly financial and business experienced

Executive profile

Highly accomplished and senior level executive offering solid financial and business experience. A trusted result-focused pragmatic leader with talent for pro-actively identifying and resolving problems, maximizing returns on investment through paradoxical idea's and increase stakeholders value by increased efficiency and effectiveness within the wider organization.

Strong focus on organizational health resulting in maximized productivity of employees and aligning departments through optimized organizational structures within the company’s strategy.

Strength in team-building, leadership and communication skills coupled with paradoxical thinking, change management/transformation, and drive for decisions.

Specialties

Strategy and vision, cost transformation and restructuring, organizational transformation, build strong relationships with Senior/Executive management with in debt business knowledge on top of financial capabilities,create winning teams and talent recognition.

Governance experiences

SOX, Turnbull (UK), Tabaksblat (Netherlands), IFRS, US GAAP, several local in country requirements.

Personal objective

Want to be able to contribute to the purpose of an organisation by acting as a pragmatic senior executive. Be a sparring partner for the organisation and non executive members driving the company towards improved results and efficient/effective operations. I like to work in a challenging environment which operates as a strong team, and has high values, not afraid to challenge each other. Being a reliable keeper of company policies and procedures as well as a solid safeguard for financial results by strong control/close monitoring and a challenging attitude.

Work History

Apr 2015Present

Vice President/CFO and COO EMEA Enterprise services

Hewlett Packard Enterprise

EMEA CFO for Hewlett Packard's Enterprise Services Division, representing $8 billion revenue.

Jan 2009Apr 2015

Vice President/CFO EMEA and Latin America

BT (Global Services)

Description:

Responsible for all financial related aspects in EMEA and Latin America (Approx. EUR 4.5 billion revenue) including transition of the organization through transformation into a best in class organization, defining the future strategy of the business in this region and optimizing organizational structure.

In addition global responsibility for Global Telecom Markets with a revenue of approximately EUR 1.3 billion

Main achievements:

  • Implementation of new operating model

  • Turn around of cost structures
  • Strong improvement of working capital and working capital management 
  • Sustainable double digit EBITDA growth 

  • Building a strong finance department through transformation towards strong business partner

  • implementing Centre of Excellences or Shared Service Centre concepts in Latin America and EMEA.

  • Further implementation of standardized system stack

  • Implementing strong compliance model 
  • Rationalization of existing legal and tax structures 
Feb 2007Jan 2009

CFO/COO Benelux and Board member

BT Global Services

Positions:

  • CFO and board member BT Global Services Benelux
  • Ad interim COO BT Global Services Benelux (September 2008 - January 2009)
  • Ad interim CEO BT Global Services Benelux (January 2008 – June 2008)

Description:

Responsible for all broader financial related aspects (Transaction processing, controlling, billing, C&C, treasury, compliance etc. etc.) in the Benelux (Approx. EUR 950 million revenue) including transition of the financial function into best in class, strategy of the organization and optimizing organizational structure. Board member of BT Netherlands Holding owning a total equity of approx. EUR 14 billion. Acted as a CFO/ad interim CEO for 6 months and CFO/ad interim COO for 5 months. Reporting under IFRS, US GAAP and Sarbanes Oxley Act compliant

Main achievements:

  • Improved sustainable profitability
  • Optimization of the organization by implementing efficient shared service activities
  • Implementation of optimizing procurement organization and procedures 
  • Implementation of working capital improving processes 
  • Implementation of tax planning and tax structures
  • Strongly improved management reporting aligned with business requirements;
  • Implementation full end to end model for all service operations processes 
  • Leading large world wide media project out of the US (billion's euro project).
Aug 2006Jan 2007

CFO

Freetime Telecom

Description:

Freetime Telecom was a startup MVNO (Mobile Virtual Network Operator) exploring a niche area within the Telecom markets. Joined this company in the middle of the start up process having problems on sustainability. The business models appeared not to be viable and as such the company filed for bankrupcy.

Mar 2003Aug 2006

CFO and Board member

Liberty Global Inc./Priority Telecom NV

Positions:

  • CFO and board member Priority Telecom N.V.     November 2005 – August 2006
  • CFO and board member Priority Telecom Norway      March 2003 – June 2006
  • Vice President Finance Priority Telecom N.V.     March 2003 – October 2005

Description:

CFO of the Priority Telecom N.V. group (revenue EUR 130 million) financially leading the business from a loss making and cash burning business to a profitable and cash generating company. Responsible for the financial strategy within the management team and sparring partner of the board of management, audit committee and Supervisory Board. Initiator and responsible for the turn around of the international financial departments into a shared service center resulting in improved efficiency and effectiveness creating substantial financial gains. In addition responsible for the operations of the Norwegian subsidiary (revenue EUR 25 million); turned it around from a loss making business to a profitable organization with doubled revenues and strongly reduced cost structure increasing stakeholders value considerably.

Reporting under IFRS, US GAAP, Dutch Gaap and Sarbanes Oxley Act compliant

Main achievements:

  • Delist the company from the Euronext at 1,8 times revenue
  • Improve profitability substantially by several transformation projects
  • Reorganize finance organization, implementing a shared service centre and improved reporting systems;
  • Reorganization of the largest subsidiary increasing enterprise value
  • Implementation of procedures and internal controls aligned with the Sarbanes Oxley Act
Mar 1993Mar 2003

Senior Manager

PricewaterhouseCoopers

10 years of experience as retail specialist within audit work (50%), corporate finance advisory work (10%) and transaction advisory services including due diligence activities (40%). Client portfolio included mainly large national and international clients partly listed (involved in holding activities) and partly for major shareholders. Majority of the client base focused on retail customers (consumer goods: fast moving goods within food and non-food as well as wholesale distribution).As part of the high potential program obtained MBA certificates at the RSM (Erasmus University Rotterdam) in human resources (2002), operational management (2001) and strategic management (2001).

Certifications

HR management

RSM/Erasmus University Rotterdam

Operational management

RSM/Erasmus University Rotterdam

Strategic Management

RSM/Erasmus University Rotterdam

Chartered Accountant

Nivra/University of Amsterdam

Education