CFO

• Douglas Group (beauty omnichannel, EUR 3.5 billion revenue)
• Coordinated refinancing of EUR 2.6 billion in the finance department: bonds (various risk tranches, term loan/RCF), aligned advisory teams on the offering memorandum, built data book for entire bond financing with all data sources and documents, prepared weekly global short term cash forecasts and presented them to shareholders (PE, CVC) and top management, process optimization

• EUR 600 million revenue (mechanical engineering, owned by Jimmy Chu - Taiwanese & owner of FFG worldwide with USD 3.8 billion revenue, 98 plants, 37 brands)
• Responsibility
• Group finances FFG E&A – 15 countries, cash flow, investments, earnings, consolidated financial statements, AC/TR, financing, restructuring.
• Finance department >150 staff
• Core competencies
• Leadership experience, team motivation, earnings & cash flow management, restructuring experience, consolidated financial statement preparation, consolidation, IFRS/HGB, sparring partner to CEO/Supervisory Board, digitization/automation of finance processes, M&A expertise, treasury/tax expertise, liquidity/working capital management, negotiation experience, risk management
• Tasks
• Planning/implementing a restructuring, professionalizing management & organization, motivating/building teams, securing liquidity, preparing individual and consolidated financial statements, coordinating tax advisors/auditors, accounts receivable & payable management, working capital management, modernizing finance processes, realizing synergies, budget planning, monthly reporting, coordination with shareholders/supervisory board
• Results
• Developed restructuring concept (S11 and S6 reports) and aligned with shareholders/Supervisory Board, professionalized teams, prepared multiple full and partial consolidated financial statements 2016-2018, prepared 2019, built tax department and treasury organization, planned 2 plant closures, buy and sell of business units, efficiency gains through digitization of finance processes (e-invoices, bank postings, POs), resolved receivables and payables backlog

Bridging CFO leadership roles (finance & accounting, treasury, controlling) as well as project tasks.

• Profile
• Led & modernized finance & accounting, tax, treasury & insurance to maintain and expand competitive positioning.
• Prepared consolidated financial statements.
• Converted US GAAP to IFRS.
• Significant tax optimization.
• Digitized finance functions.
• Carve-out of subsidiary and sale via bidding process.
• Post-merger integration.
• Member of Supervisory Board Plastal.
• Implemented TMS & cash management.
• Negotiated large financings
• Tasks / Achievements
• Performance management via budget planning (balance sheet, P&L, cash flow and KPIs), reporting, reviews, measures to secure results
• Prepared consolidated financial statements & consolidation.
• Accounting for merger (PPA), deferred taxes.
• Impairments.
• Coordinated auditors, tax advisors and tax inspectors.
• Converted US GAAP to IFRS.
• Optimized complex tax structures with significant savings
• Automated workflows (OEM credit notes, vendor invoices).
• Established shared service center.
• Introduced centralized insurance programs with large savings
• Carved out automotive division.
• Separated all group relationships and built independent structures
• Sold automotive division in M&A bidding process to Nordic Capital (due diligence, valuations, vendor due diligence).
• Negotiated with investors.
• Post-merger integration.
• Negotiated large financing agreements (ABS, factoring, leasing, real estate, plants)

• Digital satellite receiver technology, family business.
• Turnaround management

• Music industry.
• Change management

• Food/conglomerate, family business.
• Acquisition/integration of three companies

• Led & built group departments AC, Tax, TR, CO.
• Optimized earnings, costs, working capital.
• Restructurings.
• Digitized finance processes.
• Budgeting & reporting.
• Prepared consolidated financial statements.
• Close cooperation with CEO & senior management, shareholders/supervisory boards and external stakeholders in international corporations
• Performance Management
• Reduced working capital (extended payment terms, receivables management, inventory optimization, settlements of receivables with double-digit million EUR amounts).
• Reduced funding needs through cash pools >EUR 12 million
• Cost reduction 30-50% through headcount reductions (service providers, overheads, production), insourcing & centralization of functions, automation of finance functions, professionalization of shared service centers, standardization of assortments and production processes
• Plant closures, consolidation of subsidiaries to maintain competitiveness
• Strategy & Organizational Development and Digitization
• Built & professionalized effective holding structures (tax, accounting, treasury) for significant flexibility and adaptability in disruptive markets.
• Trusted collaboration with supervisory boards & shareholders
• Digitized & automated finance processes (external invoice, intercompany and bank postings, credit cards, supply chain order processing, blind bookings) to enhance competitive position
• Preparation & sale of businesses, subsidiaries & real estate (M&A)
• Restructuring
• Created restructuring concepts and initiated implementation: top-line focus on service & retrofits + new customer segments.
• Reduced complexity by modularizing product assortments.
• Digitized processes.
• Insourcing of functions
• Prepared IDW S11 report.
• Conceptualized IDW S6.
• Communicated restructuring concepts to major customers, suppliers, credit insurers and banks.
• Coordinated with shareholders/supervisory boards.
• Debt to equity swap (>EUR 560 million)
• Cost reductions through standardization of finance processes, documentation.
• Coordinated interfaces/service providers, outsourced finance functions
• Financing & Consolidation
• Prepared numerous IFRS group, segment and individual financial statements 2015 to 2024.
• Implemented IFRS 15 & IFRS 16.
• Converted reporting to core KPIs
• Successful tight cash flow/free cash flow management to maintain liquidity and financing capacity of companies
• Structured/selected/negotiated/implemented best-practice long-term financings in the Covid-19 environment for real estate funds – residential, offices, retail – tenders, term sheets, committee resolutions and custodians, coordinated legal contract implementation, disbursement.
• Portfolio risk monitoring
• Bank reporting and covenants, maintained financing tool IT2, managed 5 European funds/dashboard reporting.
• Executed insurance change for >400 insured properties/SPVs worldwide, insurance cover notes with banks/first payee loss clause, finalization of 20 Reuters BaFin rates
• Bond refinancings, data book, process optimization, coordination of external advisory teams
• Additional Tasks
• Implemented powerful treasury management systems (Bellin, Litreca, IT2/ION).
• Revolving liquidity planning, payment factory, payment transactions, risk management, FX hedging, cash pools, credit agreement execution.
• Successfully negotiated major covenant resets