CEO
Al Sorayai Group
Total years of experience :29 years, 5 Months
Reporting to the Board of Director, leading the Group of 3 manufacturing facilities with extended wholesale and retail operation with a 165M $ turnover and 1500 employees. Restructured company, resulting in headcount reduction by 25% and inventory reduction by 70m SAR in its first face during 2016. Developed new group strategy. Built key management team.
Reporting to Paper & Board Division’s VP and Group CFO, responsible for the financial performance of the division which consists of 6 companies with 250M $ turnover and 1500 employees. Controlling operations, cash and working capital are my daily responsibilities. Responsible for the accurate, timely and comprehensive division’s financial reporting. Oversee budgeting and forecasting process. Member of the team that formulates division’s strategy and evaluates, explores and negotiates new business opportunities. Applying common policies and KPIs across division. Developing finance team. Set up Finance Shared service department.
As the company was financially distressed, I worked on presentations and negotiations with prospective strategic investors. Additional responsibilities were credit control and collection, cost control, cash management and controlling international affiliates.
Worked on photovoltaic project from conception up to licensing. Organized funding of 170M€, networking with authorities, prepared the fillings to obtain the necessary licenses and permits, evaluated and negotiated with EPC contractors and undertook the project management.
Joined this company to restructure and revitalize operations. Led day-to-day operations including management of Finance department and sales/operations. Created new business strategy and merchandising policy, negotiated supplier’s agreements, developed new Internet website, drove brand positioning and market research. Played active role in key sales agreements.
▪ Created and implemented management reporting and budgeting processes, as well as new credit policy, new bonus program.
▪ Generated 1.4M€ positive operating cash flow from 0.5M€ negative.
▪ Maintained sales levels during 20% market decline and halted losses from 1M€ to 500K€.
P&L accountability. Managed 2 regional area managers (Asia and Europe), as well as 20 country managers.
Led Finance and Marketing departments; oversaw HR and Legal Counsel. Headed projects that impacted retail and wholesale operations, new business development, public relations, new product/collection development, and pricing/logistics.
▪ Applied new business planning and reporting process
▪ Developed new supply and replenishment model.
▪ Raised group’s stake in Hellenic Duty Free
In this key finance leadership role, created strategy and implemented business plan that turned around the organization with a focus on improving EBITDA and cash flow.
Head of 22 finance departments; reported to Managing Director; participated in Board of Directors meetings, as well as active member of Management Boards in affiliate companies. Managed relations with stock exchange, banks / investors, auditors; held trust duties role as Administration Director.
Finalized merger of Information Dynamics, a software company that increased sales of LogicDIS by 30%.
Developed an extensive turnaround strategy that incorporated market, revenue, and cost analysis.
Implemented cost cutting program that reduced operating expenses 10% and increased efficiency 22%.
Improved EBITDA from 2M€ to 5.8M€ (LogicDIS) and from 2.6M€ in losses to 4M€ in profits for the entire Group.
Created plan that optimized Group structure from 22 companies to 5 by merging, closing down, and divesting.
Developed evolving refinancing plan that increased equity by 11M€; refinanced a 13M€ bond; and assumed 14M€ in new long term debt. Estimated annual cost savings of 0.5M€.
Reported to General Manager and Executive Committee member. Oversaw 30 employees working in Accounting, Credit, Treasury, and Reporting/Costing.
Participated in various European projects that included tax efficiency, Euro pricing harmonization, production costs and inventory reduction, and warehousing centralization.
Implemented IFRS to ensure compliance with Group mandates.
Implemented cost control system.
Successfully managed the transition to Euro.
Controlled trade rebates / allowances and application of credit policy.
Trained finance department in the processes and culture of the holding company, effectively improving working standards, integrity and reliability of financial statements and reports to comply with stakeholders guidelines.
Implemented new processes to budget, report,
and control customer profitability, sales targets and forecasting as well as promotional plans. Participated in ECR
initiatives. Worked with 7 key account managers across Greece and 30 sales representatives.
Developed information systems that enhanced communication and achieved cross functional alignment.
Successfully managed the European pricing harmonization project, the transition to Euro and new trade policy.
Supervised 4 sales representatives and managed 4 supermarket chains with an aggregate annual sales of 5M€.
Formulated sales strategy; developed and implemented financial and non-financial objectives; negotiated annual
agreements; and created efficient account promotional strategies. Challenged with category development and
centralizing order taking and delivery process.
Increased sales by 12%;
Operated as Finance Manager of toiletry brands for the EMEA region with responsibility for 500M+€ in aggregate annual sales.
Established uniformity across European region that allowed for efficient decision making. Set financial targets of strategic and business plan by analyzing sales growth opportunities, cost structure, and investment requirements. Ensured financial targets were accomplished by tracking business performance.
Improved profitability by identifying and leading cost reduction projects in coordination with operating functions.
Improved gross profit margin by 4 points through price restructuring and cost reduction.
Charged with developing and implementing the marketing plan of Carefree™ panty liner brand.
Organized national promotional campaigns, executed market research studies, developed new commercials,
rationalized the product portfolio and formulated the product line pricing structure.
Launched Carefree Air™.
Increased Carefree market leadership by 3% points and grew annual sales from 3.5ME to 4M+€.
Reported to Finance and Production Director; managed 5 employees. Implemented new ERP system.
Introduced analytical cost accounting.
Redesigned operations and reporting processes.
Applied US GAAP.
Maintained headcount during tripling of workload due to expansion. Reduced stock levels by 15%.
Conducted tax audits and accounting reviews for small to large companies. Managed projects that included investment incentives, repatriation of profits, and forms of incorporation.
Spearheaded accounting system that increased the number of client’s portfolios by 40%.
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