JD Edwards
Charles Altshuler
Chief Financial Officer CA(ANZ), CA(SA), MBA, BCom Honours
Westleigh,New South Wales
Overview
18
18
years of professional experience
10
10
Years as a Chief Financial Officer
2
2
Bachelor Degrees in Accounting
1
1
Masters Degree in Business Administration
1
1
Project Management Degree from Stanford University
7
7
years of post-secondary education
2
2
Certificates
Work History
Group Chief Financial Officer
One Stop Warehouse
Sydney, Australia
03.2022 - Current
- Largest distributor of solar panels, inverters, batteries and mountings in Australia, employing 200 people with a turnover of over $500m. Private equity backed with subsidiaries in Europe. Finance team comprises 15 people.
- Facilitating on the sell side a $200m buy out by one of China's largest private equity businesses through vendor due diligence, scenario based forecast modelling, preparation of digital business analytics and compiling historic financial reporting including adjusted EBITDA.
- Determine the integration strategy, mapping out synergies, drafting qualitative and quantitative questions such as pricing expectations, value adds, risk and EBITDA scenarios on the buy side of three acquisitions in Europe.
- Negotiation with two banks to grow credit and working capital facilities from $30m to $50m, structuring syndicated banking relationships, identifying potential new funding via debtor factoring and managing a $60m hedge book.
- Facilitating two new branches in Europe of the business by organic method, starting from brownfields, opening bank accounts and business registration set up, ERP upgrades, as well as staff training and recruitment.
- Preparing the business for IPO by implementing the following: 1. Upgraded the accounting system to consolidate automatically versus excel to generate intercompany journals reducing human involvement and increasing speed. 2. Changing to OCR (optical code reader software) for supplier's invoices speeding up processing and decreasing human errors or double recording, and automated bank statement loading into AR sub ledger reducing the need for more AR employees. 3. Using demand and supply planning software in NetSuite to forecast two years driving all other areas of business budgeting and forecasting including cash flow and net working capital requirements. 4. Engaging KPMG to assist with global tax compliance, and tax structuring including transfer pricing as we move to cross border activities. 5. Drafted a risk matrix comprising both financial and operational risks and most importantly for Sarbanes-Oxley access to our financial and non-financial information, IT security, data backup and change management.
Chief Financial Officer
Bod Australia Ltd & AusCann Group Holdings Ltd
Sydney, Australia
02.2019 - 03.2022
- ASX listed pharmaceutical business with market cap in excess of $50m. Part of the same investor pool.
- As the CFO of an ASX listed business making significant improvements in the following areas: leading capital raises, shareholder road shows, adhering to ASX listing requirements, statutory reporting, corporate governance and internal control processes and responsible cash management.
- Creating synergies post the merger of two ASX listed businesses through aggressive cost cutting techniques to the extent of 376% reduction over 5 quarters on average 75% reduction per quarter. Techniques included selecting the business service provider from two options, negotiating on bulk deals, staff restructuring, finding a common process and implementation into the new consolidated entity.
- Facilitating M&A activity to secure a exclusive distribution agreement and share purchases buy a $2bn Hong Kong based listed business.
- Leading the opening of new subsidiaries in USA, UK and Switzerland.
Finance and Operations Manager
Blackmores Ltd
Sydney, Australia
08.2017 - 01.2019
- Listed on the ASX, one of the largest vitamin and health supplement brands in Australia and Asia employing over 1500 people with revenue in excess of $500m.
- Drafting new product development business cases for new China markets and registration of Infant Formula in China
- Negotiation with suppliers for lower contract manufactured costs.
- Automation of payroll forecasting and paperless capex approvals.
Financial Controller
Millform Products Pty Ltd
Sydney, Australia
09.2016 - 07.2017
- Australian manufacturer of cold rolled steel products. Family run company in New South Wales
- Achieved revenue growth through an inventory project ensuring less stock out, better customer satisfaction and higher sales.
- Performing employee productivity calculations to ensure better use of resources.
- Implementing margin reporting monthly to ensure resources allocated to the highest margin customers.
- Designing an inventory re order system to ensure no stock outs and thereby improving cash flows and customer satisfaction.
Finance Director
Ottobock Healthcare GMBH
Johannesburg, South Africa
07.2014 - 08.2016
- Otto Bock is one of largest manufacturers of medical devices such as Prosthetics, Orthotics and Wheelchairs. Globally it is a family run business head quartered in Germany with a turnover of over EUR700 million employing 6000 people in 50 countries. Managed 12 staff.
- Achieving revenue growth by travelling to neighbouring countries such as Zimbabwe to meet with government procurement officers to facilitate faster more efficient ways to sell directly without the middle man. Sales revenue growth R2million.
- Negotiation with courier companies through the comparison of rates across the industry. Cost savings R50,000 per month.
- Setting up in excel a stock aging report that enables the user within 30 minutes to identify slow moving stock and thereby calculate a price to move the stock thereby cutting the value of the provision for slow moving stock. Decrease of stock days by 30 days.
- Visiting patient care facilities in Germany to understand the move from a distributor to a patient care provider. Forecast impact of doubling revenue.
Financial and Taxation Accountant
Anglo American PLC
Johannesburg, South Africa
08.2009 - 06.2014
- Global Turnover $23bn-employing 128,000 people) is in the top 5 largest mining companies in the world.
- Meeting with stakeholders at BHP Billiton in respect of existing mining projects to discuss expansion. Forecast revenue from project of R1 billion.
- Tax savings through tax planning initiatives- R100 million. Process improvement: Creating a tax system in Excel and HFM to complete the consolidated group within a day versus 1 week.
- Travelling to Gabon and Groote Eylandt, meeting with stakeholders (project engineers and community spokespeople) a joint venture with BHP Billiton to better forecast future revenues. Forecast revenue from project R1 billion.
Chief Financial Officer
Chemical Specialities Limited
Durban, South Africa
10.2007 - 07.2009
- At the time was the 3rd largest paint manufacturer and retailer in South Africa with a turnover of R700m and employing 700 employees. Managed up to 40 staff.
- Opening new stores across the country by identifying correct locations and skilled franchisees. Stores grew from 20 to 30.
- Driving costs savings through employee retrenchments, bulk vehicle leasing negotiations, machine hire purchase agreements etc Cost savings of R200 million.
- Creating a franchise model that enables the efficient selling of the prospective franchise by clear and transparent forecasting. Stores grew from 20 to 30.
- Listing (IPO) of the company on the stock exchange. Raised R110 million.
Auditor
BDO
Durban, South Africa
03.2004 - 09.2007
- Registered Accountants and Auditors External auditor. 95000 employees globally with a turnover of $12bn. Managed up to 10 staff.
- Identified control gaps in processes, procedures and systems through in-depth research and assessment and suggested methods for improvement.
- Adapted plans and schedules to meet changing priorities of work objectives, resources and workload demands.
- Planned audits and audit activities to allocate necessary resources and determine consistency of plans with audit objectives.
- Administered auditing program to address risks and evaluate compliance with regulatory requirements.
Timeline
Group Chief Financial Officer
One Stop Warehouse
03.2022 - Current
Chief Financial Officer
Bod Australia Ltd & AusCann Group Holdings Ltd
02.2019 - 03.2022
Finance and Operations Manager
Blackmores Ltd
08.2017 - 01.2019
MBA -
Torrens University
11.2016 - 11.2018
CA ANZ- Chartered Accountants Australia and New Zealand (601713)
10-2016
Financial Controller
Millform Products Pty Ltd
09.2016 - 07.2017
Certificate in Advanced Project Management -
Stanford University
01.2015 - 12.2015
Finance Director
Ottobock Healthcare GMBH
07.2014 - 08.2016
Financial and Taxation Accountant
Anglo American PLC
08.2009 - 06.2014
Chief Financial Officer
Chemical Specialities Limited
10.2007 - 07.2009
CA SA- Chartered Accountants South Africa (08112451)
04-2005
Auditor
BDO
03.2004 - 09.2007
Bachelor of Commerce Honours Accounting -
University of Natal
01.2000 - 12.2003
Certification
CA ANZ- Chartered Accountants Australia and New Zealand (601713)
Education
MBA -
Torrens University
Australia 11.2016 - 11.2018
Bachelor of Commerce Honours Accounting -
University of Natal
South Africa 01.2000 - 12.2003
Certificate in Advanced Project Management -
Stanford University
United States 01.2015 - 12.2015
Skills
IPO preparation
Private equity board communication through knowing what information is needed and when
Strenuous avoidance of negative surprises through transparency
Working through capital structure issues and M&A opportunities
Scaling up automation technologies such as OCR, AI and ERP add ons
High sense of urgency, a bias for rapid change and continuous improvement
Maintaining a relentless focus on cash flow
Driving operational excellence in controls, reporting and financial analysis
Operating in a levered environment, increasing revenue and decreasing cost base
Negotiation with banks and credit providers including foreign exchange
Business partnering and link between finance, operations and sales
Automation and digitization to ensure fast and effective decision making
Development of business models to ensure revenue growth, costs reduction and reduced cash flow utilization
Creating a networked approach to working across divisions and boundaries cresting a multidimensional matrix with finance and non-finance areas
Software
Oracle Netsuite
SAP
Hyperion
Zero
MYOB
Caseware
ExoNet
Excel
Word
Power Point
Additional Information
- MBA awarded with distinction
- Bachelors degree awarded summa cum laude
- Divisional CFO at the age of 25 years
- CFO of an ASX listed business within 2 years of moving to Australia
Interests
Stamp Collecting
Summary
Finance and business leader with 18+ years of international experience and strong background in IPO's, corporate finance, strategy, M&A, reporting and IT within both listed and family organizations globally across healthcare, mining, industrial and FMCG/retail companies and most recently renewable energy.