Chief Financial Officer (CFO)
Electrolux Home Appliances
Total years of experience :30 years, 6 Months
April 2007 to date Electrolux Egypt - Holding
Country Finance & Shared Services Director (CFO)
In charge of all country financial, treasury, tax and shared service. K ey responsibility scope includes:
• Management Reporting
• Statutory financial reporting and audit
• Tax matters and legal entities
• Treasury
• Country GSSO Management:
• Internal Control
April 13 to April 2015 Electrolux Egypt Sales Division
Country commercial Controller and Group Tax Director
• In Charge of the controlling activity for both local, international sales division, logistic and consumer care controlling. In addition of handling the tax affaires of the group of companies working in Egypt (7 legal entities). The controller scope includes all the financial planning and accounting affairs. In addition to handling the Oracle ERP implementation across both the sales division and the manufacture facilities.
Jan 15 to date Electrolux Egypt Home Appliances
Acting Country Managing Director
Electrolux Egypt previously known as Olympic Group (OG) is the leading manufacturer and distributor of household appliances in Egypt with an overall market share of 28% in value terms and turnover of LE 2.00 Billion. The group consists of 3 factories with over 3, 000 employees out of which 150 employees in the finance sector under my direct and indirect supervision. The major revenue contributors are washing machines, refrigerators, water heaters and cookers. The founding family of OG has been working in the household appliances field since the 1920s.Due to the severe economic situation in Egypt during the period from 2011 to 2014, the company sustain a considerable level of losses and was suffering on different commercial aspects. The group management in Stockholm assigned me as Country managing director in addition to my role as company CFO. Responsibilities included:
• Country commercial activities, including Sales, Sales Operation, Product line, Marketing, Support functions and Finance.
• With a completely new commercial strategy and innovative implementation techniques in the market, we managed to lead the strategic direction change in the country toward achieving the profitable growth.
• Participated in the successful turnaround of the company over achieving the preset target by Group management. We managed to led the company over the last three year to over achieve all the targets identified by the group managements.
• In addition, we covered all the losses due to the Egyptian pound devaluation and we managed to close the year over the set target despite the severe devaluation losses.
Diversifying the company source of revenue, open new markets, set a long-term partnership with our traders / partners and devolving the internal team capability to be agile and manage the market dynamics were the main objective to be achieved.
Managed to lead the strategic direction change in the country toward achieving the profitable growth. Participated in the successful turnaround of the company over achieving the preset target by Holding company.
• Handles detailed, complex concepts and problems, balances multiple tasks simultaneously, and makes rapid decisions regarding administrative issues.
• Plans and implements programs.
• Establishes strong and appropriate relationships with Holding Company, staff, and clients.
• Develops smooth and constructive relationships with executive colleagues, outside agencies, organizations and individuals.
• Plans and meets deadlines. Maintains a flexible work schedule to meet the demands of executive management.
• Conveys a professional and positive image and attitude and for-profit sectors.
• Demonstrates commitment to continued professional growth and development.
In charge of the setting up and running the finance and investment department of Dubai Metro project. A project worth of 15 Billion Dirham in addition to a Real estate investment portfolio worth of 10 Billion Dirham. The project is constructed by an international consortium led by Mitsubishi. My responsibilities among others includes:
1. Setting up the project financial strategy.
2. Developing the project investment strategy.
3. Manage the project real estate investment portfolio.
4. Develop the finance and accounting policies and procedures manuals
5. Update the project business plan.
6. Lead the accounting system selection and implementation.
7. Lead the fund raising process to the project.
8. Manage the day to day project finance and accounting.
Hatem was a Senior Manager heading our Advisory Services division, with over 12 years of experience in leading consulting and assurance engagements. Besides being a commerce graduate, he has a MBA, a diploma in feasibility studies and Business valuation. He has considerable experience in financial consulting engagements, including due diligence, valuation, financial analysis and profit projection, as well as feasibility studies and preparation of Business Plans.
Doctorate of Business Administration with honor, the main subject of the thesis was the effect of personal characteristic on the success of SME's
- MBA – With miret (GPA 3.93)
Diploma of feasibility studies and Business valuation, Cairo University (very good).
B.Sc., Faculty of Commerce, Cairo University, Accounting Section, May 1989. Member of the Egyptian Society of Accountants and Auditors 1998 Public Accountant