CFO
Philips Lighting Saudi Arabia
مجموع سنوات الخبرة :20 years, 9 أشهر
PLSA, a joint venture created in 2014, is market leader in KSA for lighting products & systems. It owns various manufacturing sites and employed over 1.500 staff in & outside the Kingdom upon its creation. PLSA goes to market through 4 operating units each carrying their own identity. Turnover indication EUR 250-300m.
The CFO participates in the development of the company strategy and contributes to the overall process of management and corporate decision making as part of the senior leadership team. He has the responsibility for developing and implementing finance policies & procedures whilst ensuring compliance by the company. He provides leadership to 35 staff (reduced from 60 at start) that carry out activities in General Ledger, AR, AP, Costing, Treasury, Tax, Compliance, Business Partnering and Financial Planning & Analysis. Periodically provides financial reporting and guidance to senior management and the Board.
This Category is responsible for delivering growth of lighting systems, the key strategic pillar of the Philips Lighting. Engaged in 3 strategic deep dives, and led the ‘Path to Value’ workstream with report out to the Executive Committee. Financial responsibility for multi-site Innovation budget of EUR 70M+. Initiated and took up product owner role to improve financial transparency of the fast growing Lighting solution selling business: redesign tooling landscape (SAP and Philips performance mgt systems), accounting treatment and governance leading to full P&L visibility.
As member of Sector IT MT ensure performance management, cost control, reporting & analysis for IT. Budget EUR 210M. As MT member for all Sales & Marketing IT applications, drove portfolio choices on cross-Sector basis, based on value creation dimensions by delivering full cost/value transparency to the sectors. Budget EUR 75M.
As program manager for cost savings enabled IT to realize EUR 125M in savings in 2009 and 2010 during its transformation to a centralized IT organization. Created the Philips value management framework for IT projects and deployment thereof. Brought this to the level where it drives portfolio decisions fully reflecting business inputs.
Primary responsibility was B2B controlling of Pace France (2008 turnover EUR 230M). In the context of the acquisition by Pace of Philips Home Networks, led the project to manage the changeover in tools and processes for control mechanisms and subsequent training to the workforce. In addition, fulfilled the treasury role for the acquired business, including identification and coverage of exposure to foreign exchange risks, customer finance and cash management.
Achievements as Project Controller (2007 - 2008):
Project member (preparing integration of Philips Home Networks into Pace):
- Established the business plan including sensitivity analyses. In close coordination with advisors, M&A & project office;
- Delivered consolidated & audited multi-year financial statements of the concerned businesses (carve-out);
- Ensured availability of the data-room for the interested parties;
- During integration of the business into Pace overlooked overall cash management: day-to-day treasury, establishment of local bank relations, customer finance instruments, cash collection.
Achievements as Business Controller (2003 - 2007):
Business Controlling for Account Teams for global (non-Americas) activities:
- Management of business planning cycles and responsible for reporting & analysis for the AT;
- Responsible for all financial aspects in the commercial process towards customers;
- Investment justifications: preparation for management review, ensuring alignment between all disciplines;
- Establishing specific controls on the emerging business of triple play offering for Telecoms. Signed up high-profile launching customers BT (UK) and Telefonica (Spain);
- Part of Control Framework work stream of Consumer Electronics division to improve OEM (B2B) risk management: harmonized internal contract approval processes, identification and reduction of exposures through thorough review mechanisms; design & deployment of company manual for KAM’s providing guidance on financing alternatives.
Master in Economics, specialization in Finance