MICHIEL WOLTERS

Hertel is a Netherlands headquartered global industrial service company for the Oil & Gas, Process, Energy and Offshore industries with a net sales of over $1B and 10, 000+ headcount. The Middle East supports clients in Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates with a 2, 500+ headcount.

Hired by Executive Board, reporting to Group CFO and Regional Managing Director. Tasked to leverage international service company experience to properly integrate recent acquisitions, restore financial credibility and drive operational, profit and cash flow improvements. Statutory director of Regional holding entity in the UAE and the operating entities in Bahrain, KSA, Oman, Qatar. 10 direct reports.

Notable Achievements:
• Cleaned up legacy issues to ensure the operations could focus on value creation, ensured operating entities are compliant to all local regulations and legal files are up to date.
• Reorganized country finance organizations and upgraded country chief accountants to business enabling financial controllers through training and replacement.
• Established reliable & timely management reporting by creating transparency and uniformity in accounting, implementing stand alone ERP modules (inventory, HR, payroll, and procurement) and Bellin treasury system and defining standardized project dashboards and monthly business review packages for the regional entities.
• Lead the following programs to increase shareholders returns:
o Trained entities on Working Capital management and headed weekly working capital meetings which resulted in a sharp reduction of the TWCA across the region.
o Reduced direct costs by implementing automated timesheet and material consumption reporting, implementing centralized procurement, implementing monthly stock counts and salary payments through bank transfer only.
o Reduced indirect costs through several initiatives such as improving tax planning, relocating regional headquarters, scrutinizing travel costs and implementing VOIP.
• Ensured proper controls were implemented to safeguard the largest Fixed Assets in the region.
• Managed, with the assistance of external lawyers, the largest legal claim in the region to a successful outcome.

Weatherford is one of the largest global oilfield service companies. It operates in more than 100 countries, generates $15B revenue and employs more than 67, 000 people.

Promoted to consolidate the finance function of the recent acquired Romanian entities and bring the finance function up to standards in both Romania and Ukraine. Reporting to Black Sea Area Managing Director and Europe, Former Soviet Union and Sub Sahara Africa Controller. 6 direct reports.

Notable Achievements:
• Created one centralized finance function for all Romanian operating entities in the Ploiesti office.
Converted the Ukrainian finance function into a business enabling one, replaced the entity controller. Removed silo type organizational structure in the Ukraine country organization.
• Implemented group accounting manual and standardized management reporting of all operating entities in the area in order to create uniformity and transparency.
• Defined tax structures for activities to be executed by Romanian operating entities in Bulgaria. Removed backlog in Ukrainian tax return filings and determined tax structure how to export rigs.
• Implemented a financial support function in the bid/tender process to prevent adverse financial/tax impact in the execution of future contracts.

Recruited as finance lead and specifically tasked to cleanup legacy issues. Reporting to Country Manager and Europe, Former Soviet Union and Sub Sahara Africa Controller. 3 direct reports.

Notable Achievements:
• Eliminated backlog in filings of tax returns and statutory financial statements of all 7 legal entities.
• Simplified the Legal tree and effectively liquidated 4 entities.
• Created Profit &Loss ownership with Productline Managers.

Hitachi Data Systems provides storage systems, software and services in more than 170 countries. Its customers include over half of the Fortune 100 companies (in 2010).

Promoted to finance lead for the Shell Business Unit. Reporting to BU General Manager and VP Finance EMEA.

Notable Achievements:
• Set up of the program organization within the predefined timeframe and hired and trained local successor to whom I handed over at the end of the assignment.
• Set up of operational, legal & tax structures globally in close cooperation with Shell.

Recruited as finance lead for the Netherlands sales/service operation. Reporting to the Country Manager and the VP Finance EMEA.

Notable Achievement:
- Key member of bid team that won first global single vendor storage contract.

Company:
UPC is a pan-European telecommunications company owned by Liberty Global and is active in several European countries providing bundled cable television, internet and telephone services.

2002 - 2003 Manager Planning & Analysis, Marketing & Sales in Corporate office.

2001 - 2002 Project Manager Acquisition Integration.

2000 - 2001 Senior Financial Analyst Investor Relations (later Strategy group).

Audit Clients
Philips Electronics N.V, Borstlap Fasteners B.V, Pimentel Fasteners B.V, Nelissen van Egteren BV (group company of NBM Amstelland construction group), Interbrew BV (Inbev), Campina (dairy)
Special projects
Due diligence Van Klaveren B.V. (acquisition by Vendex Food Group), vendor due diligence Philips Components, due diligence Philips Consumer Electronics, project leader Atos Origin Billing process
Membership recruiting team