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Executive SummaryAs seasoned regional CFO has over 20 years’ financial operation management experience, and solid accounting knowledge for PRC/US/IFRS GAAP. Through business analysis, deep diving into cost structure, M&A projects, well cash and liquidity management and risk management, as well as people engagement, to play the role of business partner to support regional business expansion, improve cost advantage against industry competitors and build up cost leadership in conjunction with other functional team. Well adapt into business change environment by using the tool of change acceleration, lean thinking, problem solving and data driven decision with building up SAP and BI system. As key regional management team member is to focus on business growing with earnings growth, maximum cash flow, EVA driven for Capex and investment, actively getting involved into commercial strategy, operation strategy, engineering strategy to support on market share expansion. Also to work with Corporate tax team to optimize tax structure based on principle approach and well design on the cross border transfer price for trading and non-trading business to lower down effective tax rate and mitigate tax risk. To working with corporate team to build up regional finance core competence of forecasting/planning, cost method, capital appropriation, EVA analytics, treasury management, reporting(internal/external) and internal audit (SOX404). As a regional finance head to develop regional team engagement, step level improvement in Leadership Effectiveness & Employee Engagement through Rewards & Recognition; Work Life Balance; Prioritization of strategic imperatives; Communication – 1-1 & team meetings; Celebrating small wins along the change curve.
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Vp Finance ApacTenneco China Feb 2016 - Dec 2017Shanghai City, China Responsible for finance operations across APAC region including China, Japan, Korea, Australia, Thailand and India. Manage full finance functions including Accounting/Reporting, FP&A, Treasury, Internal Audit and Tax Planning, Commercial finance and Operation finance. Play the role of business partner to support APAC Commercial, Operation, Engineering strategy to expand market share and optimize footprints as well as design for cost. Deep diving into product cost structure to… Show more Responsible for finance operations across APAC region including China, Japan, Korea, Australia, Thailand and India. Manage full finance functions including Accounting/Reporting, FP&A, Treasury, Internal Audit and Tax Planning, Commercial finance and Operation finance. Play the role of business partner to support APAC Commercial, Operation, Engineering strategy to expand market share and optimize footprints as well as design for cost. Deep diving into product cost structure to improve material margin of existing products and new products in launch phase and get YOY Ops cost saving. Build up robust accounting process to well control on accounting and booking accuracy not only compliance with US GAAP but also for PRC GAAP. Lead APAC and support global for any potential business M&A, like acquire JV minority interest, potential target acquisition as well as business merger. Optimize China tax structure to reduce tax cost or defer tax cost to contribute on corporate effective tax rate. Centralize cash management cross China entities (JVs and WOFE) to improve cash utilization efficiency and well monitor and control on liquidity risk. Enterprise risk control with SOX 404 implemented in each region and entities to improve people awareness and compliance mindset. Aligned with Corporate direction and cascade down to each region for the execution and discipline. Best Practice sharing among APAC region and learning each other in finance team with diversity culture. Show less -
China Finance DirectorTenneco China Holding Company Feb 2009 - Jan 2016Shanghai China Responsible for finance operations across China covering business of Emission Control, Ride Control and Elastomer. Manage the finance and accounting function of legal entities in China region and do the statutory and management reports, forecast, budget consolidation. Provide guidance and support to the plant finance controllers of the China JVs and WOFE respectively for aligned accounting practices and accurate financial reporting; concurrently support Top management in… Show more Responsible for finance operations across China covering business of Emission Control, Ride Control and Elastomer. Manage the finance and accounting function of legal entities in China region and do the statutory and management reports, forecast, budget consolidation. Provide guidance and support to the plant finance controllers of the China JVs and WOFE respectively for aligned accounting practices and accurate financial reporting; concurrently support Top management in headquarter and VP & GM of China in efforts for on-going updates and understanding of financial performance. Review, bridge analyze and report to International Group CFO and key business leaders on monthly/quarterly/annual financial performance as measured against budgets, forecast and historical results, and the related key performance indicators of entities concerned; Lead China BOS (business operation system) review quarterly to benchmark between each plants’ performance. Manage and coordinate finance resources and processes for successful ERP (Kingdee and SAP) implementation in China, and for post-implementation follow up; Execute internal audit with SOX 404 and coordinate external audit efforts in China to ensure sufficient financial routines and controls in place. Handle China treasury aspects and setup Holding company for future business development and funding. Support initiatives and activities in China region including evaluation of business opportunities, strategic growth projects, mergers and acquisitions and other projects associated with delivery of corporate objectives; Lead, coach and motivate a team of accounting professionals , and manage the growth and development of team and their talents including allocating duties and assignments and identifying training needs for current jobs and potential roles; Show less -
China Jit (Assemble Plants) Operation DirectorTenneco China Holding Company Dec 2007 - Feb 2009 Manage assembly plants’ operation across China, monthly review with plant managers for key metrics performance include EHS, Quality, delivery, Operational Cost etc. ,identifying and tracking and benchmarking facility key metrics to optimize operational performance.. Reduce the fixed cost and variable cost with labor efficiency improvement. Standardizing of operations policies/procedures, which including production system (lean production approach applied in shop floor)… Show more Manage assembly plants’ operation across China, monthly review with plant managers for key metrics performance include EHS, Quality, delivery, Operational Cost etc. ,identifying and tracking and benchmarking facility key metrics to optimize operational performance.. Reduce the fixed cost and variable cost with labor efficiency improvement. Standardizing of operations policies/procedures, which including production system (lean production approach applied in shop floor), logistic/material flow, QA system (TS16949), operational booking/reporting system. Reduce the working capital of plants, including inventory reduction, the DOH down to 10 days from original over 2 months, receivable collection in time, the DSO down to 40 days from original 2 months. Centralization of sourcing to get the scale of purchasing volume to reduce the price and stabilize the sourcing quality with three vendors bidding process and periodically conduct the vendor sourcing cost audit. Working with application engineering team to optimize assembly process to not only improve production efficiency and also lower down the production cost, which is based on the concept of design to down cost. 1 Year of Acting KOE Business Director from 2008.6 to 2009.5 Lead sales team to well manage the cost to compete for Korea OE business program, which won the Beijing Hyundai RBC program in July 2008. Build up cross border program management team to do the engineering development Visit and communicate with Hyundai to get more detailed development Spec and requirement to make engineering development can be more smooth and efficiency and effective, reduce the rework and waste. Monitor monthly launch cost and figure out any waste or improper process. Flawless launch of Hyundai RBC project from OTS to PPAP and SOP in 2009. Track and improve RBC program profitability from business awarded to SOP phase, make sure that the profitability in production of RBC is higher than quotation. Show less -
Finance ControllerShanghai Tenneco Exhaust System Co. Ltd Jan 2006 - Dec 2007Anting Shanghai Direct annual AOP/SBP and monthly forecasting with business department. Interprets the operating results and communicates results to management, facilitate achievement of budgetary(AOP) and financial targets Effectively lead and manage BOS (Business Operating System) process; identifying and tracking facility key metrics to optimize performance Drive targeting actions to increase EVA (economic value added) and maximum cash flow. Ensure compliance to internal and external… Show more Direct annual AOP/SBP and monthly forecasting with business department. Interprets the operating results and communicates results to management, facilitate achievement of budgetary(AOP) and financial targets Effectively lead and manage BOS (Business Operating System) process; identifying and tracking facility key metrics to optimize performance Drive targeting actions to increase EVA (economic value added) and maximum cash flow. Ensure compliance to internal and external policies, procedures, standards, etc. Lead SOX 404 compliance execution in daily business operation. Guide efforts to manage and establish an effective facility capital plan Show less
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Finance ControllerEnergy Conversion Systems (Shanghai) Co.Ltd Jan 2004 - Dec 2005 Reporting: Review monthly management reports, highlights operation/financial inefficiencies, give facts and comparison and makes implementation plan for any remedial action with management team Cost Control: Set up cost control policies with standard cost and detailed implementation rules for the control of expenses/costs. Keep monitoring the operation costs of the plant and provide solutions for the improvement of efficiency in the plant. Budget/Forecast: In term of group… Show more Reporting: Review monthly management reports, highlights operation/financial inefficiencies, give facts and comparison and makes implementation plan for any remedial action with management team Cost Control: Set up cost control policies with standard cost and detailed implementation rules for the control of expenses/costs. Keep monitoring the operation costs of the plant and provide solutions for the improvement of efficiency in the plant. Budget/Forecast: In term of group requirement setup the annual budgeting and quarterly rolling forecasting process and bridge the gap analysis against the actual operation result. Business analysis: Provide financial analysis information for both Commutator product line and Auto Consumer product line Internal Audit: Review and plan all internal audit policies and process and instructions for the company in term of process control points. Support top Management: Make instructions and suggestions to top management towards setting the strategic direction and tactics for the continuous growing of the business and improvement of efficiency in the region and monitoring the results. ERP system: Set up frameworks, requirements and procedures on ERP system, provide time schedule and implementation plan for all modules. For instance finance module, sales module, SCM module, streamline these processes and integrate into ERP system. Acquisition: To deal with all issues of division of Shanghai Morgan Carbon Company (For temporary one year division operation). Show less
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Finance ManagerMorgan Thermal Ceramics Shanghai Co., Ltd Apr 2002 - Dec 2003
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Finance ManagerShanghai Sureblock Besser Building Materials Co, Ltd Jun 1996 - Mar 2002
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Chief AccountantShanghai Bomy Food Stuff Co, Ltd Sep 1993 - May 1996
Michael Xu Skills
Michael Xu Education Details
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Mba For Top Management -
Haerbin Financial CollegeFinance And Investment
Frequently Asked Questions about Michael Xu
What is Michael Xu's role at the current company?
Michael Xu's current role is VP Finance APAC at Tenneco.
What is Michael Xu's email address?
Michael Xu's email address is mi****@****163.com
What schools did Michael Xu attend?
Michael Xu attended University Of The Sunshine Coast, Cheung Kong Graduate School Of Business, Haerbin Financial College.
What skills is Michael Xu known for?
Michael Xu has skills like Auditing, Sap, Cost Accounting, Target Costing, Financial Modeling, Managerial Finance, Forecasting, Finance, Strategic Planning, Hyperion Enterprise, Us Gaap, Clutter Control.
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Michael Xu
We Are Hiring Weebs To Build The Future Of Social Gaming At Adventure Studios!Xuhui District -
Michael Xu
Xuhui District
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