Michael Hipwood

As CFO of Redflow , after 8 months of arranging substantial loans and grants from government bodies to establish an automated manufacturing factory in Brisbane, I realised that the business did not have a viable product and hence no financial future. I advised and guided the Board that the best outcome for the company was to appoint an administrator.

As CFO of Hysata, I modelled the financial future of the company which helped raise over $100m from government and private enterprise investors.

As CFO of Tritium, I led the listing of the company on the Nasdaq in January 2022 via a SPAC (Special Purpose Acquisition Company). Tritium was first company to do so from Australia at a valuation of more than $2B AUD.

Managed the company Finances and was responsible for the call centre and moving to a better located modern work centre to attract higher calibre employees.

Supporting the organisation’s vision of improving health outcomes for 1.1M residents in South Brisbane, Iled a series of strategic initiatives strengthening the integrity and performance of Corporate Services. Leading a comprehensive review of all policies, procedures and systems, I galvanised a team of 15 across finance, HR, IT and legal to embrace a new way of working based on transparency in data, collaboration and customer-centricity. In addition to holding financial oversight of all projects and the organisation’s financial health, I was a trusted advisor to the CEO, Board and funding partners, providing accurate insight into key risks and successes.

• Restructured budgets and reporting to provide an accurate view of the organisation’s financial position;
• Leading an ERP implementation for CRM, finance, HR, contracts and payroll, aligning data to build a full view of health services provided and required in the region;
• Delivered a suite of continuous improvement projects spanning policy, process, people and technology, including the development of a new, contemporary constitution for the organisation.

Joining Boeing Defence to elevate organisational competitiveness and facilitate growth, I was soon promoted to an executive leadership role with global influence as a Company Director and Finance Lead for Australia and South East Asia. Accountable for all commercial operations, I established robust financial structures and reporting across project management, finance, legal and compliance to better manage high value budgets. My remit included the leadership of over 120 staff, setting a vision of improved collaboration and communication to reach new performance heights. I also actively contributed to wider Boeing strategy as a member of the Boeing Australia Board.
• As 1 of 3 Directors of Boeing Defence, we set about asking customers how we could win more work. The feedback was that we were too expensive, did not listen to what the customers wanted and did not follow through on promises. We set about changing the culture of the company so that we were lean, listened and followed through. Along with being responsible for the pricing and costing estimates for the bid work, I aided in tripling the revenue in four years by winning 15 consecutive bids for a value in excess of $3B and 4 years of backlog;

• Won the Global PhantomWorks Achievement Award for implementing a global charter enabling staff, IP and R&D funds to be allocated outside of country of origin;

• Led the Boeing R&D team into UQ, the first on-campus partnership outside of mainland USA.

I was appointed by Mincom in 2010 to lead an organisational transformation as GM Finance, engaging teams along a change journey that delivered a complete performance turnaround. Responsible for the restructuring of the company and oversight of commercial transactions I contributed to turning a $25m loss into a $25m profit in 2 years along with the sale of the company to ABB.

Briefed with transforming the financial structure and performance of the company, globally, my focus was on developing a strategy, business model and incentive framework that protected and supported the sustainable and profitable growth of the business. Providing leadership to teams across regions, I championed a vision for the business as a ‘good corporate global citizen’ while driving P&L outcomes, managing local in-country tax submissions and ensuring transparent reporting. I was promoted to CFO in 2011 following acquisition by ABB.

Appointed as the first finance employee for LinkWater, a Government owned entity established to build and manage all water grid pipelines in the SE of QLD, I built a best practice finance function from the ground-up to meet a critical and time sensitive infrastructure need for the state. Defining the structure of the organisation, including systems, contracts and governance frameworks, I provided trusted advisory and reporting the CEO and Board. Over my two-year tenure, I recruited and managed a finance team of 15 and provided leadership to alliance contractors, overseeing a portfolio of projects to ensure on time and budget delivery.

• Delivered all pipeline projects within timeframes and budget, including the Toowoomba Pipeline project ensuring a steady water supply to the drought-hit region;
• Achieved 1M hours LTI free via a ‘No Blame, No Shame’ safety culture;
• Realised a multimillion-dollar after-tax profit, following an investment allowance tax reduction claim on the purchasing of pipelines.