Richard Beadle (ACA)

Personal Profile

Commercially orientated Senior Finance Executive with significant international exposure and diverse experience managing and embedding change in challenging environments across industry and professional services through a variety of roles:

Proactive and dynamic professional with extensive strategic and tactical experience acquired operating at all levels in market leading, complex, global organisations;

Programme Director for a fundamental business change programme across logistics, manufacturing and sales in a highly competitive commercial environment, driving substantial improvements in efficiency and shareholder returns;

Led Finance Transformation projects including Accounting Standard Changes & ERP Systems, in multiple international organisations either as stand-alone projects or as part of Business Transformation Programmes with accompanying process improvement and change management;

Motivational and Inspirational leader with track record of building, coaching and developing high performing finance teams. Experience managing head office / regional teams of up to 30, Shared Service up to 100 and indirect / functional management across Europe, Russia and Middle East;

Confident communicator and negotiator capable of leading and influencing critical decisions within cross-functional, cross-culture international management & project teams; and

Sector Experience in Freight Logistics, Media, Defence, Manufacturing, Energy / Utilities, IT, Facilities Services and Engineering / Construction.

Work Experience

May 2016 – August 2020 G&W UK / Europe (G&W Group)

G&W UK / Europe is a leading rail freight provider, established in 1965, with businesses in the UK, Continental Europe, and the Middle East. 50 years since establishment, G&W UK / Europe has developed into a dynamic logistics company with a modern fleet of locomotives, rolling stock and lorries, providing solutions to rail freight needs throughout its various territories. G&W UK / Europe has circa 2,500 employees based across the UK and Continental Europe.

G&W UK / Europe is a key Region within Genesee and Wyoming Inc (‘G&W’), owned by Brookfield Infrastructure Partners, based in Toronto, Canada. G&W owns or leases 121 freight railroads worldwide, organized across 5 operating regions with 8,000 employees and more than 3,000 customers. G&W subsidiaries provide rail service at more than 40 major ports in North America and Europe and perform coal loading and railcar switching for industrial customers.

Regional Controller – UK / Europe (May 2016 – August 2020)

The Regional Controller role was specifically created as part of my recruitment, recognizing the need to significantly enhance the skills and experience within UK / Europe Finance as part of the ongoing integration activities following acquisition of Freightliner Group by G&W in March 2015. The role is responsible for managing all management and statutory reporting, fiscal reporting / compliance and for maintaining the Group’s internal control framework.

Responsible for:

Establishing and maintaining the Regional Internal Control Framework across all UK / Europe Entities, ensuring full SOX compliance (2016 being first year);

Managing End to End Monthly Reporting (US GAAP) to Group within timetable and to consistently high standards with full Reporting Entity FD sign-off;

Managing Key Stakeholder relationships including all audit and compliance responsibilities: Annual Statutory & Fiscal Accounting process; transition to IFRS (2015); and Implementation of changes in US GAAP Accounting Standards, specifically ASC606 – Revenue Recognition and ASC842 – Leasing;

Business Partnering with Senior Leadership Team, providing commercial decision input and subject matter expertise;

Full Regional Financial Performance ownership including Planning and Analysis; and

Recruiting, developing and retaining a high performing team.

Key Achievements:

Motivated and re-engaged key individuals within the team following a period of uncertainty, together with careful recruitment to build a team recognised by peers as high performing;

Lead Projects to implement new Accounting Standards for Revenue Recognition (ASC606) and Leasing (ASC842) as well as new ERP system (Microsoft GP) and new Leasing System (Lease Accelerator - as part of adopting new Leasing Standard) in the UK and Europe businesses;

Significantly enhanced Regional Control Framework, including fully documented processes and creation of Standard Operating Procedures (SOP’s) while transitioning financial transaction activities into a Shared Service Centre;

Resolved many years of outstanding tax compliance issues in UK, including revised returns for past 4 years and ensured full compliance with US GAAP / US Tax reporting requirements;

Successfully managed the integration of a newly acquired business in the UK (Pentalver) acquired through a share purchase deal; and

Completely overhauled and established very clean Year-End process across all UK entities with zero audit adjustments.

January 2014 – April 2016 Re:Sources UK Limited (Publicis Groupe)

Publicis Groupe is a global leader in marketing, communication, and business transformation. In a world marked by increased convergence and consumer empowerment, Publicis Groupe accompanies clients through their business transformation, offering a full range of services and expertise across digital, technology, consulting, creative, corporate communications and public affairs, media strategy, planning and buying, healthcare communications and brand asset production. Present in 108 countries, the Groupe employs more than 75,000 professionals.

UK Chief Accounting Officer (January 2014 – April 2016)

The Publicis Groupe owns a variety of advertising, marketing, public relations, studios and media companies around the world. These companies were acquired over a number of years and naturally each one has adopted a different way of running its business. While it is very important for the Publicis Groupe to respect and maintain the various individual identities of these companies and encourage their creativity and culture, it is also important to bring a certain unified standard to these companies and take advantage of the size and strength of the organization as a whole.

Re:Sources UK was created to achieve this objective by centralizing the finance, administrative, legal, tax, IT, procurement and property functions and leave the units to do what they do best in terms of looking after the client's business. The Chief Accounting Officer role is specifically responsible for managing all management and statutory reporting and for maintaining the Group’s internal control framework.

Responsible for:

Establishing and maintaining the Groupe Internal Control Framework across all UK Legal Entities (approx. 75) and associated Creative, Digital and Media Agencies within these;

Managing Monthly Reporting to Groupe within timetable and to consistently high standards with full Agency CFO sign-off (in excess of 100 reporting units);

Managing Annual Statutory Accounting process including external audit relationship;

Identifying and implementing process improvements in all areas of reporting and control;

Working closely with Groupe Finance, particularly around changes in IFRS; and

Recruiting, developing and retaining a high performing team of 25.

Key Achievements:

Motivated and re-engaged key individuals within the team following a period of uncertainty;

Successfully managed the integration of a number of newly acquired agencies into the SSC model, acquired through a mixture of asset and share purchase deals with a variety of legacy ERP systems;

Played a pivotal role as Finance Lead in the SAP Integration Project in the UK, in addition acted in capacity as Change Management Champion for Re:Sources UK;

Assisted Group with implementation of tax efficient financing structure; and

Managed a very clean Year-End process across all UK agencies with zero audit adjustments.

July 2012 – December 2013 Raytheon Systems Limited

Raytheon is a technology and innovation leader specializing in defence, homeland security and other government markets throughout the world. With a history of innovation spanning 89 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services.

Senior Manager, Finance Operations (July 2012 – December 2013)

Recruited, initially on a short term interim basis to deliver a number of improvement projects within the finance function. Subsequently assumed responsibility for all Finance Operations for Raytheon UK. Focussing on a mixture of Process Improvements, Control Initiatives and Commercial Issues - cost recovery & charging mechanisms.

Responsible for:

Establishing a self-regulatory control testing environment within the Raytheon US lead Internal Controls Excellence (ICE) program;

Planning, executing and reporting on company wide cross-functional review of process and controls;

Deputizing for UK CFO, specifically in bid review and program review meetings;

Managing Contracts to Cash team, maintaining performance within agreed SLA;

Managing Treasury function, liaising with Financial Services providers and dealing with all commercial issues around Bonds, Guarantees, FX Hedges, Letters of Credit etc;

Running Annual Capital Budget exercise;

Identifying and implementing process improvements around timesheet reporting, contracts to cash and treasury functions; and

Reviewing basis of cost recovery through contract charging mechanisms and reporting to MOD as required under Government established process for pricing of non-competitive Government contracts.

Key Achievements:

Identified cost saving opportunity and developed plan to migrate activities under Contracts to Cash and Treasury to Raytheon US Shared Service Centre;

Dramatically improved performance on time recording, reducing outstanding backlog of queries and issues by 97%; and

Successfully rolled out comprehensive Delegation of Authority Matrix across all functions and RSL sites, including Canada and Spain.

January 2005 – January 2012 ESAB Holdings Limited

World-leading manufacturer and supplier of welding consumables, equipment, cutting and automation solutions. Wholly owned by Colfax Corporation, listed on the New York Stock Exchange (acquired Charter International, former owner of ESAB in January 2012).

European CFO (June 2008 – January 2012)

Provided financial leadership continuity throughout a turbulent period ensuring commercial finance support of the highest quality as well as managing a high performance finance team with a ‘no surprises’ culture.

Interim Global CFO (June 2007 – June 2008)

Promoted to CFO, responsible for managing the Global Finance function, reporting directly to ESAB Group CEO.

Financial Controller (January 2005 – June 2007)

Recruited for the third occasion by the former PGI and Kvaerner Metals CFO. Responsible for the Global ESAB management and statutory reporting processes and for managing the conversion to Group Reporting under IFRS.

Responsible for:

Leading European Finance team: 4 London based direct reports; 4 Swiss based direct report; Budapest SSC 80 strong; and functional reports from all 8 European Sales Regions, 8 Factories, Russian CFO and Middle East FD;

Establishing robust monthly reporting process for division including introduction of unit, region and divisional financial commentaries which formed key part of monthly performance reviews with Group. Reduced reporting deadline to group to Working Day 3;

Setting up KPI reporting for key finance processes based on balanced scorecard approach, to support the implementation of lean manufacturing techniques within its manufacturing base;

Implementing a Global Bid Review Process for all potential customer contracts within strictly defined criteria as part of a Delegated Authority Matrix (typically contracts between $5m and $40m with lifecycle between 1 and 5 years);

Determined and implemented Group policy in capital expenditure, research and development, treasury and internal trading arrangements in a complex global business with distinct manufacturing, distribution and sales units;

Project sponsor for financial systems implementation project in Russia, member of steering committee for Greenfield development of new factory in China, Global ERP systems implementation project and represented ESAB businesses on Charter Group Reporting systems project; and

Lead member of European Management Board, including legal entity board representative in several international subsidiaries and investments, including Joint Venture in Russia.

Key Achievements:

Successfully led the European Finance Function through a period of significant activity downturn. Delivered target levels of profitability through significant cost reduction activities, 3 factory closures and 17% reduction in personnel. Produced significantly enhanced cash returns during this time through improving regeneration and managing working capital, realizing,200% cash conversion;

Implemented a revised operating model across the European Business with standard operating procedures and a single ERP platform as part of a wider project to implement a Tax Efficient Supply Chain Model, with significant operational and tax benefits for the Group and meet the strategic aim of improving customer focus;

Led project to define and implement European Shared Services Strategy to standardize financial processing and control framework throughout the business. Addressed control weaknesses and lack of consistency and deliver significant benefits with 25% cost reduction through shared services for financial transaction processing; and

Delivered significantly improved statutory year-end process including introduction of reporting under IFRS requirements and all associated disclosure requirements including segmentation, pensions, research & development and IAS39.

November 2003 – December 2004 Interim Assignments

Following decision to leave Carlisle Facilities Services undertook interim work for 2004, specializing in Sarbanes-Oxley project work:

Barclaycard, Sarbanes-Oxley Project October 2004 to December 2004

Topps Europe, Sarbanes-Oxley Project May 2004 to September 2004

Insight UK, Sarbanes-Oxley Project April 2004

Hughes Network Systems, Sarbanes-Oxley Project November 2003 to March 2004

November 2002 – November 2003 Finance Director, Carlisle Facilities Services

Finance Director for the Carlisle Facilities Services division reporting directly to the Managing Director. Carlisle Facilities Services is a privately owned business with a turnover of approx £70m and 5,000 employees providing predominantly cleaning and security services to a range of clients across the Transport, Retail, Distribution and Public Sectors.

April 2001 – November 2002 Financial Controller, Northgate Information Solutions

Financial Controller for the HR Services division reporting directly to the Managing Director. Northgate Information Solutions Limited is a market leader in providing specialist software, outsourcing and information technology (IT) services to the human resources, local government, education and public safety markets.

April 1999 – March 2001 Senior Finance Manager, PowerGen International

Worked directly for the Finance Director of PowerGen’s International Business (PGI), with a managed asset base in excess of £2bn. During the last year, prior to disposal, PGI profit rose to more than £200m and constituted over one third of total Group profits. For non-strategic reasons PGI, after a period of successful growth, was disposed of. I played a substantial role in the disposal process, in support of the Finance Director and Managing Director, at the end of which I (along with the whole management team) left the Group.

December 1995 – April 1999 Finance Director, Trafalgar House / Kvaerner

During my time at Trafalgar House/Kvaerner I developed into a series of more senior roles. I was also part of a major Engineering Division restructuring and financial change management process. I was recruited out of Kvaerner by the former Kvaerner Metals CFO whom I joined again to work for in PowerGen.

Finance Director, Kvaerner Metals Pittsburgh, USA (December 1997 – April 1999)

In December 1997 I became Financial Controller for Kvaerner Metals Pittsburgh ($350Mn turnover, 800 employees). Within 9 months I was promoted to Finance Director with responsibility for Finance, IT and Administration teams, effectively combining the two roles into one.

Assistant Controller, Davy International, London (November 1996 – December 1997)

Chief Accountant, Davy International, London (December 1995 – November 1996)

September 1992 – December 1995 Assistant Manager, KPMG, London

Passing all my professional qualifications first time I completed my training contract with KPMG. Audit in charge for the following assignments:

Crest Nicholson Plc

Trafalgar House Plc, Construction division (Scotland)

The Guinness Trust; and

Bristow Helicopter Group.

Professional Qualifications

Chartered Accountant

September 1995 to Present

Institute of Chartered Accountants of England and Wales (ICAEW)

Education

BSc (Hons) Accounting and Statistics, 2.1

Southampton University, Southampton, England (www.soton.ac.uk)

Graduation Date: July 1991

Computer Skills

Accounting / General Ledger: Oracle, SAP, Sage, Microsoft GP

Management Information and Reporting: SAP BPC, COGNOS Planning, COGNOS BI, Hyperion Enterprise, Hyperion Financial Management, FDC, TM1

Contact Details

US Address: 30602 St Andrews Drive, Georgetown, TX, 78628

US Cell: 737-***-****

email: adfzp5@r.postjobfree.com

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