Senior Financial Executive / Controller / Auditor

Profound knowledge as CFO in Business Administration and finance in international Pharmaceuticals / Agro / Chemical groups, FMCG (alcoholic beverages; premium rums) with focus on restructuring, introduction of accurate controlling methods, improvements in collection, cost accounting, finances management, budgeting, multi-currency management, Intercompany pricing, responsible for IT and risks reduction / mitigation, KPI development.

Team leader/member in the viability analysis of new and old companies, as well as a member in international acquisitions (multilingual); leading groups for changes in organization and making giving the best of them; execution, monitoring, and coordination of different projects, some with international scope. At all the companies and countries, the assigned projects were reliable fulfilled and closed with more than expected delivered results. Steady career positions for many years, with high and continuous promotions / improvements. Strategic planning approach in leading an insolvent company, defining strategy payment and cost and expenses reduction, selling assets and divestiture. Always improving the market value of the companies (and goodwill) and improving liquidity.

Professional Experience / Accomplishments

Industria LG (Guatemala) www.ronesdeguatemala.com.gt June 2018 today

Industria LG June 2018 today

(250 M $ USD Spirits Group (FMCG) with operations in 3 countries in Central America, and export to Mexico and north of South America; 100.0 M USD Intercompany sales, with 2.200 + employees)

Corporate Finance Director

Senior Financial Executive with full responsibility for restructuring of clients in Guatemala (30 K retail customers; total assets 380.0 M $ USD) and changing the costing system to standard cost in SAP (CO-PC) and introducing CO-PA with revenue management. Keeping DSO under 60 days and DPO in 35 with a CCC of 466 days (from 510). Changing bank financing from short to medium/long term.

With the changing of Product costing (CO-PC), an increase of 2.0 M USD EBT annually by reducing manufacturing costs (NPV 13.9 M $ USD) and control over Dumping.

Improving reporting with transparency and control, budgeting, strategic planning and KPI development. Stakeholder management.

Reducing financing cost from 6.1% (2018) to 4.5% in 2020 and reducing debt to the lowest level in six years

Piloted excess liquidity invested with an interest rate higher than financing with 5.2%

Responsible for following areas, Sourcing (CAR), FRA (Accounting and reporting), BPC (Internal controls), Treasury, Financial Projects, Cost Accounting

Pillars O2C, P2P, R2R, Tax, TCM, T&E and Fixed Assets. Usage of SLA and KPI. Responsible Corporate Transfer Pricing.

Direct reports 5 Managers and 60 coworkers; total coworkers 2.200 FTE.

Member Executive Board

Integrated group from raw sugar, sugar mill, distillation to bottling and distribution and international presence with premium rums (cluster)

Liquidity from two weeks up to twenty weeks; short term deposits of 30.0 M $ USD; revenue recognition analysis every January; improving operational Cash Flow up to 126 M $ USD in a revolving, 12 months period.

Generated corporate Tax payment reduction from 32.2% (2017) to 24.7% in 2020 and changing Tax code for 2021 expected reduction to 23.7%; all under Tax Compliance.

Pioneered introduction of electronic payment via SAP (F110)

Inspired and improved balance sheet by paying unpaid Intercompany invoices open for years and reducing the amount by 100.0 M $ USD (transaction 228 M $ USD); all done in 90 days. Better transparency in balance sheet. Improving equity from 42% to 59%. Balance sheet management.

Ratio Debt / EBITDA from 2016 – 2.9 times, 2017 - 2.3 times, 2018 - 3.0 times, 2019 - 2.1 times and projection 2020 - 1.8 times. Projected reduction 38%.

EBT improved from 6.0% (2017) to 20.0% in 2020.

Dividend payment went from 4.5 M $ USD in 2017 to 32.9 M $ USD in 2020 (seven-fold)

Improvement of the market value from 281.0 M $ USD in 2017 to 483.0 M $ USD in 2020 and increasing the Goodwill value by 113.0 M $ USD.

Launched full integration of SAP

FI-CO assessment to improve use of SAP, process and turning to a full digital SSC.

Support in Finance and data for the creation of new JV, including cost + invoicing model.

Management finance during the pandemic, strictly monitoring liquidity – lockdown management, payroll and suppliers paid on time, without increasing debt, introduction Cash Flow automatization directly from SAP. Crisis management also part of my duties.

Responsible for the analysis of new projects and viability with ROI; also, disinvestments

Unipharm Group (Guatemala) www.unipharm.com February 2016 today

Unipharm S.A. February 2016 today

(70 M $ USD Pharmaceutical Group (Brand Generics) with operations in 10 countries in Central America (cluster) and the Caribbean, Mexico and north of South America with 500 + employees)

Corporate Finance Director

Senior Financial Executive with full responsibility for restructuring of clients in the region (10 companies; total assets 150.0 M $ USD) and changing the billing system, reducing in 25% issuing of credit notes. Reducing DSO from 85 to 62 by 25% or 4.0 Mio USD in receivables.

Responsible for following areas, SCM (S&OP), Sourcing (CAR), FRA (Accounting and reporting), BPC (Internal controls), IT, Treasury, Financial Projects, Cost Accounting

Pillars O2C, P2P, R2R, Tax, TCM, T&E. Usage of SLA and KPI. Responsible Corporate Transfer Pricing.

Direct reports 4 Managers and 60 coworkers

Member Executive Board, strategic planning, budgeting and KPI development

Reducing inventories by 30% or 4.0 Mio. USD

Improving 1.5 Mio USD by increasing credit limits from suppliers.

Pivoting and introduction insolvency management

New name Luminova

Introduction “Ship to…Bill To” via Panama without touching Panamanian soil.

Professional Experience / Accomplishments

Novartis Group (Switzerland) www.novartis.com March 2013 to August 2014

Novartis Farmacéutica S.A. (AC) March 2013 to August 2014

(200 M $ USD Pharmaceutical Group with operations in 7 countries in Central America (cluster) and the Caribbean with 500 + employees; including Sandoz (OTC and Brand Generics)

Finance & Administration Head Guatemala

Senior Financial Executive with full responsibility for restructuring of clients in the region (three companies; total assets 160.0 M $ USD) and changing/pivoting the billing system, reducing in 50% issuing of credit notes. Reducing DSO from 106 to 86.

Responsible for following areas, SCM (S&OP), Sourcing (CAR), FRA (Accounting and reporting), BPC (Internal controls), IT, Treasury, Financial Projects

Shared Service Center (SSC) for the Central America & Caribbean Region with billing to 27 countries. Pillars O2C, P2P, R2R, Tax, TCM, T&E. SOX – IFRS compliant. Usage of SLA and KPI. Responsible Corporate Transfer Pricing.

Direct reports 7 Managers and 60 coworkers

Member local Executive Board

Introduction “Ship to…Bill To” via Panama.

Bayer Group www.bayer.com June 1986 to December 2011

Bayer S.A. (Guatemala) August 2004 to December 2011

(440 M $ USD Pharmaceutical / Agro / Chemical Group including Brand Generics and OTC, with operations in 8 countries in Central America (cluster) and the Caribbean and three production sites and export to many countries with 2000 + employees and 100.0 M USD in Intercompany sales)

Corporate Finance & Tax & Regulations for Central America and the Caribbean Head

Senior Financial Executive with full responsibility for restructuring of clients in the region (ten companies; total assets 320.0 M $ USD) Suspension of more than 2/3 of the clients; business credit lines and risks were reduced in 160.0 M $ USD (from 310.0 M $ USD) and payment conditions were unified. Sales were not affected as they rose from 200.0 M to 480.0 M $ USD, and the DSO were lowered from 83 days to less than 55 days: an estimated amount of 33.0 M $ USD in improved collection.

The financial situation of the companies’ group, overly complex at a certain point, went from insufficient, to a coverage of a three weeks of suppliers’ payments (34.0 M $ USD), short term deposits (29.0 M $ USD) and all loans and unpaid dividends from previous years paid in full. At the departing time, the region was free from all kinds of loans and in addition the coordination of dividend planning of 40.0 M $ USD. In 2010 and 2011 interest payment savings of 1.0 M and 2.0 M $ USD, respectively.

Restructuring the Intercompany supplier payment, by reducing the payment terms, to pay faster to HQ and reduce cash positions and lowering devaluation risks.

Consolidator for the reduction of working capital in coordination with business unit, achieving a reduction of 25.0 M $ USD until the year 2010 (starting 2009) and improving COGS.

Corporate Lead consolidator for a confidential project of data collection for the sale of the generics manufacturing plan, and with these data, prepare the initial offer to potential buyers. Sales price estimated value 80.0 M $ USD.

Responsible for the yearly Corporate Planning/Budgeting/Controlling, with forecasting deliveries. Consolidator for the Business Unit Budgeting and forecasting. Corporate Controlling and use of KPI. Member regional Executive Board for Controlling & Finance Also part of my duties was the Controlling of corporate OPEX of 15.0 M $ USD, CAPEX 5.0 M $ USD and HR-controlling of 2000+ persons 60.0 M $ USD payroll and the use of KPI. Responsible for Corporate Transfer Pricing.

Introduction “Ship to…Bill To” via Panama for Healthcare.

Bayer AG (Germany, Leverkusen) November 1999 to July 2004

(35.0 B $ Euro Pharmaceutical - Chemical company with 110.000 employees and presence in 100+ countries)

International Internal Auditor

Member of the introduction team of SAP for the Bayer AG Holding, successfully introduced end/December of 2003.

Highly flexible with the knowledge of three languages and cultural differences

After an audit of category B companies (non-consolidated; amount 1,000.0 M Euro), a special unit was created with the purpose of monitoring and controlling them.

Team member in a post-purchase audit Team of ex-Aventis CS, with the result of reducing the purchase amount in 40.0 M Euro.

Bayer S.A. (El Salvador) March 1996 to October 1999

(100 M $ USD Pharmaceutical - Chemical company with two production sites and export to eight+ countries with 400 employees)

Director/Chief Administrative & Finance Officer (with IT) and Controller

I was assigned the task of restructuring with full responsibility the financial and accounting areas. After the restructuring, 80% of capital in dividends (16.0 M $ USD) was paid and the P&L report was improved, by improving cost accounting (COGS)

Innovation in the IT department and Introduction of the Corporate Controlling.

Supervision of the accounting and finance side in different subsidiaries within the group with Corporación Bonima (including production site); Brand Generics.

Member local Executive Board.

Bayer S.A. (Chile) October 1989 to February 1996

(120 M $ USD Pharmaceutical - Chemical company with two production sites for local market with 400 employees)

Director/Chief Administrative & Finance Officer (with IT) and Controller

Introduction of interconnected computers platform (network) with Windows and Lotus Notes email, with an AS-400 server for the exchange of files; this platform served as a model for Central America.

Two manufacturing plants closed without requesting financial aid from Bayer AG.

Restructuring of the cost accounting (COGS), improving the P&L.

Restructuring in the areas of administration and finance from manufacturing companies towards import and commercial company; supervision of the accounting and finance side in different subsidiaries within the group (including additional production site)

Innovation in the IT department and introduction of an EIS and introduction of the Corporate Controlling.

Member local Executive Board

Bayer S.A. de C.V. (Honduras) June 1986 to September 1989

(10 M $ USD Pharmaceutical - Chemical company with 100 employees)

Chief Administrative & Finance Officer and Controller

Full responsibility in the creation of an entirely new company together with the General Manager

Reorganization of shared services departments

Introduction of the Corporate Controlling

FaHonda, S.A. (Guatemala) www.honda.com.gt February 1984 to May 1986

(4 M $ USD - Motorcycles company with 50 employees)

Sales Manager of the Spare Parts Department

Spare parts department restructuring. On the second year, doubled sales, reduced inventories (rotation) from 5 years to 18 months by improving reposition, and customer satisfaction rose from 60% to more than 90%.

Studies

Degree of Bachelor in Business Administration with cum laude from the University Francisco Marroquín www.ufm.edu.gt (Guatemala January 1980 to February 1984)

Languages

Three languages English (fluent), Spanish (native) and German (mother tongue)

Status

German citizenship and permanent immigrant status in Guatemala

Availability

Short notice/negotiable

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