Chief Financial Officer
CurrentI returned to Poundworld as permanent CFO, following the sudden departure of the incumbent.During my tenure the company has more than doubled in size and now encompasses 370 stores, generating a turnover in excess of £500m and employing 6,000 colleagues. Challenges were numerous in the initial months as inherited issues lead to the resignation of the auditors, a 'qualified' audit opinion, an ensuing reduction in trade insurance cover and bank-instigated IBR.Major improvements in financial reporting and controls, coupled with very tight working capital management placed the business on a sounder footing and, within a year, provided the opportunity to re-bank.Increased funding allowed investment in the range and acceleration the growth programme, resulting in a doubling of EBITDA and creating a business with the scale to attract major PE investors.I lead the due diligence process which eventually led to global PE house, TPG, acquiring the business for a reported £150m.Post-acquisition I have remained responsible for all aspects of the company's finances including daily, weekly and monthly reporting, operating dashboards, budgeting, re-forecasting, year end audits, tax planning and compliance, treasury and FX management.Continued to develop the capability of the finance team with an emphasis on providing greater commercial insight to the senior operating team and TPG.Other experiences include a further re-finance, systems implementation, IFRS transition and various commercial initiatives that have added in excess of £1m to annual EBITDA.