Elmar Jakoby

Elmar Jakoby

Summary

Chief Financial Officer

Restructuring & Re-Financing  -  Strategic Re-Positioning & Managing Growth  -  Financial Leadership

Management Experience: Results-orientated Finance and Operations Executive in the high tech and retailing industry with an international background (USA/Europe). Strong track record in restructuring, re-financing, strategic repositioning, managing growth, and financial leadership in regional and global market places. Proven ability to impact operations, increase profits, reduce costs, implement internal controls, and maximize productivity and efficiencies. Confident, people-oriented communicator. Excellent educator, motivator and leader with globally dispersed teams.  Consistently achieves tangible results in fast-paced environments.

Functional Knowledge: Strong expertise in VC and angel funding, commercial term loans, buy-outs, corporate restructuring and start-ups. Adept in identifying core strengths and weaknesses in an organization and in developing strategies to significantly improve results. Extensive record of success with the execution and integration of several mergers and acquisitions. Solid background in GAAP and IFRS accounting, payroll management, human resources, financial planning and modeling, budgeting and forecasting.

Core Competencies

Management expertise

·Retail, High Tech and Start Up Experience

·VC backed Funding and Debt Financing

·Corporate Restructuring / Investor Level

·Effective Communicator with BOD and Auditor  

·Global Business and Financial Leader

·Process Improvements and Cost Control

·Contract Negotiation & Strategic Alliances

·Entrepreneurial working style & Team Building

Functional knowledge

·Strategic Financial Planning & Modeling

·M&A and Integrations

·Enterprise Valuation and Due Diligence

·Implementing Financial Systems & Tools

·Financial Statement Preparation

·Monthly & Annual Financial Close

·Board and Investor Presentations

·Make or Buy decisions / Capital Leases

Work History

Work History
Jun 2009 - Present

CFO Consultant

JAKOBY FINANCIAL CONSULTING

Provide interim CFO services to Start-Ups and financial consulting services to late stage & pre - IPO private companies.

  • Strategic and Financial Planning and Forecasting
  • Hands-on development and management of Financial Planning and Reporting Systems
  • Project Management and Feasibility Studies
  • Merger & Acquisitions, Financial Due Diligence, Enterprise Valuation, and Integration
  • Corporate Restructuring and Refinancing
Dec 2010 - Present

CFO

Sheet Music Plus LLC

Provide leadership to improve accounting process efficiencies, comprehensive financial planning and establish solid internal controls. Implemented culture of accountability and a result orientated work environment by establishing budgets, forecasts, business review meetings and action plans. Integral player in strategy review process and implementing a new defined growth strategy.

Accomplishments:

  • Implemented culture of accountability by implementing budgets, monthly financial reports and action plans
  • Established internal controls and significant improvements in accounting processes
  • Closed acquisition in Canada and integrated business in existing structure
  • Responsible for company’s IT organization during search for VP of IT. Established project planning and milestone reporting for software development team and increased timely software delivery.
Mar 2007 - Jun 2009

SENIOR VICE President / Chief Financial Officer (CFO)

Navio Systems, Inc. / GBOX, Inc. / WAFER RECLAIM Services LLC

Navio was founded in 1999, employed 85 people and was one of the innovators in the Digital Content Management industry. GBox was established as Spin Off to leverage Navio’s technology and enter into the Social Network Market. Wafer Reclaim Services provides recycling services for the silicon wafer market and has 150 people and $20 million in sales. Note: Worked for same majority investor for all three companies.

Designed, directed and executed the company’s day to day and long term finance, accounting, HR and legal affairs. Reorganized Navio from an enterprise solution company to a Web 2.0 internet provider in the social network sector. Executed Spin-Off from Navio into a new company, gBox Inc. and restructured and recapitalized Navio. Appointed to Board Member of gBox, Inc. to work on strategic positioning and strategic alliances. Managed all aspects of two acquisitions for Wafer Reclaim Services. Performed due diligence, oversaw preparation of all legal documents, engaged in purchase price negotiations, and prepared all pre and post acquisition models, Pro-Forma Financial Statements and Budgets. Integrated and directed accounting, payroll, HR & benefits functions for Wafer Reclaim Services post acquisition.

Accomplishments:

  • Prepared VC presentation and secured $5 million from international angel funds.
  • Ensured proper equity accounting and communicated with all shareholders during restructuring.
  • Negotiated and secured $20 million debt financing.
  • Aggressively closed two acquisitions and successful integrated inventory, accounting and payroll.
  • Reorganized shareholder structure through a buy out of preferred B and A stock against an equity interest in new company and future IP proceeds.
  • Spearheaded liquidation of Navio, reduction in force, settlement with all main vendors and subleased office space.
  • Directed 409 A and 123 R valuation and secured $35 million tax usable net operating loss (NOL).
  • Oversaw and managed closing process, reviewed and coordinated all legal documents and achieved closing within agreed timeline.
Nov 2002 - Mar 2007

SENIOR VICE President / Chief Financial Officer (CFO)

GLOBALNETXCHANGE and AGENTRICS

GlobalNetXchange was founded in 2000, employed 125 people and generated $20 million of sales per annum; the company grew by 125% per year on average. GNX serves the global retail market and their suppliers. AGENTRICS was formed with the merger of GlobalNetXchange (GNX) and the WorldWide Retail Exchange (WWRE). With 250 people employed and $40 million of sales per annum, AGENTRICS is the global SaaS leader for supply chain management in the retail industry.

AGENTRICS LLC- $40 million internet/software company

CFO / Senior Vice President Nov. 2005 – March2007

Responsible for all financial and legal aspects of the merger and spearheaded the integration process. Achieved projected synergies in aggressive timeframe and under challenging conditions. Recruited, developed, and managed team of 6 finance, accounting, and legal professionals. Presented financial results to the Board of Directors, Audit Committee and external auditors KPMG and Grant Thornton.

Accomplishments:

  • Developed numerous financial models, including multiple year P&L, cash flow, synergies, parallel running costs, and business plan.
  • Prepared FDCF validation and negotiated all balance sheet issues.
  • Presented financial issues to the Board and worked “one on one” with directors to overcome obstacles.
  • Coordinated and oversaw the execution of all legal documents and ensured closing within timeline.
  • Scoped, supervised, and managed the financial, tax, and legal due diligence.
  • Established financial controls and goals in the process of successfully integrating finance, accounting, and payroll systems.
  • Put company on track to achieve projected synergies of $20 million within two years.
  • Championed the development and implementation of a revenue recognition policy.
  • Implemented clear policies, processes, governance and internal controls for combined entity.

GlobalNetXchange LLC - $20 million internet/software companySan Francisco, CA 

CFO / Senior Vice PresidentNov. 2002 – Oct. 2005

Managed all financial, facility, administration and control functions for a global company. Led professional team coordinating all financial matters for USA, Germany, France, UK, Australia, and Japan. Core responsibilities included: established the company’s financial goals, provided financial guidance across all products, led the budgeting and forecasting process, produced monthly financial statements and product profitability calculations, chaired monthly business review meetings and developed clear action plans to achieve product and company goals, created financial models for major investments, engaged in acquisition and merger negotiations, performed financial due diligence, provided oversight of external accounting/payroll providers in five countries, managed the company’s $70 million investment portfolio, reviewed all insurance contracts, established tight cost controls, administrated payroll and employee benefits, coordinated annual audits and led Audit Committee meetings, and prepared financial updates and financial outlooks for Board meetings.

Accomplishments:

  • Reduced total overhead expense by $1 million and achieved profitability.
  • Completed international acquisition and successfully integrated company into existing organization, meeting all financial objectives.
  • Gained ownership and cost effectiveness of outsourced accounting by implementing MS Great Plains.
  • Improved efficiency in budget process by establishing complementary bottom-up process and ensuring proper interactions between product line managers, sales representatives and IT department.
Oct 1996 - Oct 2002

DIRECTOR OF FINANCE AND PLANNING

METRO Group

METRO Group has 280,000 people, $70 billion sales per annum, operations in more then 30 countries and is the second largest international retailer in Europe.

Led professional financial team at corporate headquarters handling all financial reporting, analysis, and business simulations for Metro’s Wholesale (Metro Cash & Carry), Hypermarkets (real) and Food Stores (extra). Consolidated, analyzed, and commented upon each division’s forecasts, budgets, and strategic plans. Prepared recommendations for investment projects and performance improvements. Worked with accounting and investor relations to publish quarterly results. Coordinated and prepared topics for Executive and Supervisory Board meetings.

Accomplishments:

  • Prepared acquisition proposal for over $2 billion valuation. Analyzed and implemented business plans. Worked with investment banks to obtain Fairness Opinion and with corporate auditors on valuation issues. Handled synergy reporting for announced $200 million of synergies.
  • Supported adoption of the concept of Value-Based Management (Economic Value Added / EVA).
  • Developed and integrated the financial reporting process by working closely with corporate finance, accounting, and tax professionals which resulted in the implementation of a group-wide reporting and consolidated software solution (SAP-ECCS).
  • Worked with corporate accounting department on conversion from local accounting standards to IFRS.
  • Developed logistic benchmark model that led to significant changes at distribution centers.
  • Evaluated, structured and built the business case for a significant spin-off ($8 billion in revenues).
Oct 1991 - Sep 1996

FINANCIAL ANALYST

ASKO DEUTSCHE KAUFHAUS AG

ASKO was a national retailer with annual sales of $10 billion and merged 1996 with Metro Group.

Responsible for monthly financial reports to senior management and monitoring the financial performance of all business units. Prepared and implemented corporate requirements and guidelines for monthly reporting, budgets and strategic plans.

Accomplishments:

  • Development investment evaluation model based on net present value (NPV), internal rate of return (IRR), and amortization time (AT).
  • Participated in an 18-month group-wide professional training program in finance, procurement, accounting, tax and point off sales.
  • Prepared financial models, pro-forma P&L, and balance sheets for merger with METRO Group, and was part of the back office team in the extraordinary shareholder meetings.

Education

Education

MBA

FACHHOCHSCHULE RHEINLAND-PFALZ

CPA - Passed CPA Exam

Additional education:

- Senior Management Development

- Value Controlling, Management Forum Starnberg

- Controller Academy

- Enterprise evaluation for professionals, Management Circle

- Center for Controlling & Management

- Senior Management and Leadership, Schloss Gracht