Executive Vice-President and Chief Financial Officer
With revenues of $2B, EMD is the world's largest builder of diesel-electric locomotives with strong after-market for replacement parts, contract maintenance and rebuilding of equipment.
Manufacturing locations include the U.S., Canada, Mexico, UK, India, China, South Africa and Brazil.
Selected by new company ownership to take financial reins for entire corporation upon acquisition of EMD, based on proven leadership strengths in handling transaction due diligence. Directed all strategic planning, financial controls, accounting and reporting, risk management, investor relations, corporate development, treasury, taxes, compliance and internal audit functions. Manage 7 direct and 120 indirect reports.
- Instrumental in growing and turning EMD around from $900M in FY’05 to $2B and transitioning from $60M FY’05 loss to $90M profit through development and launch of strategic initiatives.
- $1.1B raised in 3 separate transactions, increasing the Asset Based facility from $225M to $525M while improving working capital by 15% and funding the 22% CAGR business growth during the same period.
- Improved inventory turns by 20% and cost accuracy & profitability by establishing robust cost accounting systems and control process enabling reliable inventory spread among 300 locations.
- Led 2 international acquisitions including due diligence.
- Created organization-wide finance group, collapsing multiple structures in a shared service center; streamlined accounting systems and processes and slashed reporting window from 3 weeks to 1.
- Implemented SAP and improved accuracy, timeliness and content of financial reporting and operational metrics through the implementation of SAP Business Intelligence.
- Set up a reliable 13 week rolling cash flow forecast company-wide and launched several currency and commodity hedging programs.
Optimized the Group tax position in both the US and Canada.
Instituted a continuous improvement process through Kaizen events within Finance aiming costs reduction and efficiency improvement through the implementation of best practices and cross-functional workshops
- Negotiated a material working capital adjustment with prior ownership that enabled investors to recoup most of their original investment in the company after acquisition from General Motors (GM).
- Systematically obtained a clean external auditor’s opinion since date of inception in April 2005 in a division of GM that had never been fully audited, thus positively positioning entity to be sold.