Chartered Accountants Australia and New Zealand (CA Membership member 463230)
Turnaround Management Association (Australia and South Africa)
South African Institute of Chartered Accountants (CA) SA (00062361)
Chartered Institute of Management Accountants (CIMA)(ACCA)
Certified Turnaround Professional Program (University of Technology Sydney)
Master of Business Administration (MBA)
Graduate School of Business, University of the Witwatersrand South Africa, 2000 (core subjects)
Fuqua School of Business, Duke University, Durham, North Carolina, USA, 2000 (electives)
Research Report “A critical evaluation of techniques used to value Brand Equity”
Awards – Dean’s List
Bachelor of Accounting (University of the Witwatersrand 1994)
Bachelor of Commerce (University of the Witwatersrand,1993)
Program in the Mathematical Modeling of Derivatives (University of South Africa 1998)
Tax and Company Law (Deakin University)
1 October 2017 – ongoing
In July 2017 I started Incepio Ventures in Australia, to focus on my core expertise being the turnaround of underperforming companies (developing teams, culture and system to create sustainable businesses) .
Developing and implementing a turnaround strategy for a caravan manufacturer , I assumed the role of Chief restructuring officer. I streamlined key processes and improved the ordering process between the parent company and the Australian subsidiary, and continue to provide consulting services.
As part of my consulting to underperforming companies, I facilitated trade in certain distressed merchandise into South Africa, and was involved in establishing a platform in South Africa (Best Before) as dedicated outlets for distressed merchandise
I was actively involved in assessing potential acquisitions for two proposed listings (a packaging consolidation and a proposed automotive listing).
1 September 2010 –ongoing
Full time management of own business focusing on proprietary investments and consulting (including providing interim management services). My consulting assignments, in part, resolve around fostering an environment for corporate entrepreneurship, the developing of systems, processes and corporate culture necessary for businesses to create and capture opportunities. A core specialty was designing and implementing business turnarounds in Retail, FMCG and manufacturing.
Interim management roles
Chief Restructuring Officer (General Manager) of Acdoco South Africa (2013-2015)
The entire company executive management team walked out, on one months’ notice, after a proposed merger failed to materialise. The company is owned by a UK company, I was approached by the foreign shareholder to remedy the situation.
The key principal (Gliss hair products) followed the management team I designed and implemented the turnaround strategy I reduced the stock balance from AUD10 million to AUD2 million. We turned a AUD1 million loss to a AUD 2 million profit (in the remainder of the financial year). The business continues to trade profitability, and a new management team has been installed.
Chief Financial Officer of Stallion Holdings (2015 – ongoing)
Stallion Security is one of South Africa largest privately owned security companies. I was approached by the founder to come in and assist him at a strategic level, to create and implement financial strategy and to pursue a merger and acquisition strategy. I was also tasked with the African expansion plans as well as raising money for the local and African operations. I reorganised the African side of the business, domiciled it in Mauritius, with the appropriate Double Tax agreement, Investment Protection, and Funding Structures.
Commercial Property Investments
I bought and turned distressed properties. My work included arranging financing (including proprietary equity investments), managing and ultimate sale of the properties
Achieved over 50% return on investment, over an 18 month period.
Samsung PABX , restructuring the balance sheet, preparing valuations and consulting on business strategy, implementation of strategy and systems improvements.
Developed and marketed a route optimisation and document management solution
Management buyout, I structured a deal whereby management bought out the major shareholder (a private equity firm) I was involved in all aspects of the deal including raising the funds
Facilitated the entry of an Israeli company (set up the operations)
Negotiated the extension of international distribution agreements for a lighting company (LEDS C4) and a PABX brand.
As well as numerous other consulting engagements
Motor dealerships with over 50 sites
Sourced, due diligenced, structured and financed numerous deals for various clients
South African Breweries International Management
16 August 2001 – 31 July 2003.
On completion of my MBA studies, I returned to SAB to take up a post with South African Breweries International Management in the Czech Republic (following the acquisition by SAB of Plzensky Prazdroj (Pilsner Urquell)). Initially, I worked in strategic planning, ensuring that merger synergies were realized, streamlined the financial projects division and helped to develop the 3 year strategic plan, I also ran various ad hoc projects. In September 2002 I was seconded to the SAB Miller Europe Procurement department as a commodity manager (non production spend). My responsibilities included
Ensuring that the synergy benefits identified in the merger were realised
Financial evaluation of various projects
Primary Distribution optimistaion
An evaluation of various IT related projects
Developing a planning model
Liaising with foreign divisions to create a global recharge and container optimistion model.
Re-engineering the value chain for the procurement function
Developing the strategy for the procurement of electricity in a deregulated market
Evaluating strategic alternative for key accounts
Helping to develop a 3 year business plan
Supply chain review
Assessing the optimal capacity allocation
Preparing the business case for the SAP implementation project
Analysing all the non production spend items in Europe, to determine possible costs saving initiatives
Negotiating with suppliers to reduce the cost of non production items
Project manager on various projects.
South African Breweries (Beer Division) (Now SAB Ltd)
1 January 1998-30 May 1999
I was employed at South African Breweries: Beer Division as a Development Accountant in the Core Strategic Support Division. My duties include the following:
Feasibility studies on launching new brands
Evaluations of promotions
Evaluation of pricing as well as recommendations
Post excise price increase calculation
Distribution channels financial evaluations
Training and integrating SAP profitability into brand managers commercial competency understandings
Setting up Joint Venture companies
Analyzing structured finance proposals
Group fixed asset revaluation
Analysis of distributor compensation
Packaging capital feasibility studies
Documented the finance sub-project for the SAB online procedures manual
Set up evaluation tools to analyze special events
Analysis of competitors
Evaluating supplier proposals
Financial evaluation of various contractual issues
Advanced Excel based financial modeling
Team member of the Finance Process Re-Engineering project.
Grant Thornton Kessel Feinstein
1 January 1995 to 31 December 1997
I completed my articles at Kessel Feinstein, which is part of Grant Thornton International. My client portfolio was very diverse. In 1997 the firm restructured. I was placed in the services division but maintained my client portfolio. A brief list of industries in which my clients were involved in is listed below.
Manufacturing (a complex environment with standard costing and over 1500 finished manufactured products)
Commodity Brokering (dealing mainly in animal feed and animal antibiotics, turnover in excess of R500 million)
Hotels (a hotel and share block)
Diamonds Mine (an audit of a diamond mine in Kimberly. I was very involved in the documentation required for listing of this mine together with the preparation of the prospectus for the IPO).
International Tour Operators
Truck Hire and Distribution
Property Loan Stock Company
In-store Marketing Company
Apart from the above, I was also involved in numerous due diligences.
I was involved with the review of the computer controls of Sage Life. (This review encompassed both mainframe and the network environment.)