Wayne Hidge

Work History

Work History
Sep 2009 - Sep 2011

Chief Financial Officer

Gulf Healthcare International

I was recruited by a private equity firm to instigate a turnaround of their troubled healthcare unit. Acquisitions that had been started by the previous management had to be completed and integrated into the company. Parallel to completing these acquisitions, the company also had to grow by new acquisitions arising from a recapitalisation of the company. The recapitalisation of approx. $30m was completed in July 2011. New acqusition targets were identified in 2010 which I negoitated and completed in July 2011 to coincide with the finalisation of the recapitalisation. I negotiated a Joint Venture with a US healthcare company which took effect from 1 April 2011 and which will be cash and earnings positive in its first year of operations. I also established Cost, Risk and Audit committees with the cost committee identifying $500k of cost savings in 2010. One of my KPI's was to source external financing facilities which I successfully did with a major bank. In addition to the UAE, I also oversaw the Group's operations in Kuwait and Saudi Arabia. In addition to the usual Finance and Accounting responsibilities, I took ownership of the various Business Development initiatives such as new market entries and business lines working in close conjunction with senior management and stakeholders.

Jan 2009 - Aug 2009

Consultant

Consultant

Consultant to a European investment company in the real estate sector until March 2009. From April 2009 - August 2009 I returned to the UK for the summer.

Jan 2007 - Dec 2008

Chief Financial Officer/Chief Operating Officer

Retailcorp World

I was recruited from the UK by Duabi World's private equity arm, Istithmar, as CFO for a newly established retail operation within the Dubai World group of companies based in Dubai, UAE. I was responsible for recruiting my direct reports - Financial Controller, Head of Logistics, Legal Counsel. I was also involved in the recruitment of non support services management - Product & Merchandising, Retail and Wholesale management. The key to this start up was to have a defined operating structure with clear, concise KPI's that enabled the team to achieve its milestones.

My key responsiblities were the negotiation of various distribution and franchise agreements with companies based in Europe and USA and partnering with the CEO to provide a sounding board and financial perspective to the strategy set by the Board.

In addition to my role as CFO, I was appointed COO in October 2007. I was also responsible for the acquisition of a Food and Beverage company in South Africa and for its integration into the UAE operations. Parallel to this acquisition, I established a new holding company to house the acquisition and a new apparel business in a tax effecient vehicle.

Dec 1997 - Dec 2006

Finance Director

Infoplace UK Limited

Led merger of Lottery Retail competitor with existing operations that resulted in a 92 unit retail operation in the UK. Drove cost savings from the merged entity of $760k which provided the company with additional A&P expenditures to grow the business. Monthly reporting to the Board showing clearly the financial performance and the risks and opportunities the Group was likely to encounter. Also acted as Company Secretary.

May 1995 - Nov 1997

Financial Controller

The Kingshill Collection Ltd

Worked with PWC on a recapitalisation of the company with a major Middle East bank taking a majority stake in the company. Subsequent to this recapitalsation, I was appointed Financial Controller. My role was to provide the company with a controlled and supportable operating environment focussing on financial and commercial controls which inlcuded monthly trading and cash flow statements and short and medium range projections which were critical to the company due to the seasonality of its purchasing.

Feb 1983 - Dec 1994

Business Group Financial Controller

Diageo plc

I joined the adult drinks subsidiary of this listed company as Financial Planning Accountant. My role was that of financial planning for a range of brown and white spirits and wines which included brand profitability and cash statements that had to be consolidated into group financial statements. I sat on the review board which reviewed quarterly projections of the various brands with particular emphasis on revenue and A&P expenditure. These reviews were held worldwide at the Group's substantial production and commercial locations. I was subsequently promoted to Senior Analyst and then promoted to Business Group Financial Controller for the White Spirits Business Unit.

Feb 1978 - Dec 1982

Finance & Administration Manager

Kimball International Inc

I joined the UK subsidiary of this listed US company as Finance and Administration Manager. Routine responsibilities included monthly production of trading statements and annual budget preparation. I was seconded to South Africa in early 1982 to assist the local management in setting up its SA operations and returned in early 1983.

Feb 1977 - Jan 1978

Assistant Financial Accountant

Philip Morris, Inc

UK subsidiary of a US listed company. Responsible for the sales analysis of its premier cigarette brand, Marlboro, and assisted the Finance Dept., in the monthly production of P&L's and annual budgets.

Jun 1975 - Jan 1977

Trainee Accountant

British Homes Stores plc

Joined this listed UK company as a trainee accountant and spent my time going through a comprehensive training programme spending time in the general accounts dept, purchasing, logistics, statistics, warehousing and internal audit..

Education

Education
Jan 1975 - Dec 1980

Professionally Qualified Accountant

UK Chartered Association of Certified Accountants

Interest

Golf, reading autobiographies, travel

Objective

My objective in any role is to make a descernible difference to that company. If this is related to a turnaround situation, it is identifying the key issues, resolving them and getting the company in a better financial position for its employees and, ultimately, its shareholders. In a start-up, its putting the essential building blocks in place, from ensuring the company is adequately financed to ensuring that the key positions are in place with the right people. In a more established company, its identifying the value drivers and those processes which don't add value and working with senior management to building increased value.

Summary

Chief Financial Officer/Chief Operating Officer – British

·5 years Middle East experience in financial/commercial roles

·Experience of establishing corporate structures in South Africa

·Prior experiences includes UK & US public listed companies 

·Wide sector experience includes healthcare and retail

·UK qualified accountant

Skills

Skills

Turnaround, Acquisitions, Strategic Direction

The last 15 years of my career has been dominated by a combination of turnaround situations and acquisition led activity. Putting in systems and procedures have been part of the process as has been partnering with the CEO and commercial divisions of companies to help drive the strategy and offer a financial perspctive to the company's strategic plans.