Jamie McComasky

Special Projects Director at Hovis Ltd
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Contact Information
us****@****om
(386) 825-5501
Location
UK

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Credentials

  • Chartered Accountant - ICAS
    Institute of Chartered Accountants of Scotland (ICAS)
    Aug, 1986
    - Nov, 2024

Experience

    • United Kingdom
    • Food and Beverage Manufacturing
    • 700 & Above Employee
    • Special Projects Director
      • Jul 2022 - Present

    • Netherlands
    • Automotive
    • 1 - 100 Employee
    • Group CFO
      • Aug 2016 - Dec 2021

      Significant Group turnaround - Improving EBITDA by 21m+ during initial 2yr tenure. Successful Trade sale of largest foundries to Shiloh industries (SEC Listed) Early completion of MBO of Czech foundry to management team + supplier Sorting out loss making contracts and negotiating full/final exit settlement Tightly managing cash usage, working capital and capex investments Restructured Finance function and encouraged headcount reductions across business Partnered Chairman in achieving a successful exit regarding all aspects of this critical Endless investment Managed refinancing exercise resulting in multiple offers (ABL 10m+ and Sale/lease back 22m+) Assisted asset realisation and addressed all Trustee inquiries arising from closure of BA Heijen (part time 3yrs to Dec 21). Show less

    • Executive Director
      • May 2015 - Oct 2020

      Service Company - supplying Contracted services to businesses in the Private Equity sector. Assignments on behalf of Endless LLP - Overseas Automotive (3yrs), UK Contract Hire/Specialist Services (1yr) + legacy issues arising from Brabant Group structure (3yrs) Restructuring activity - transformation plus heavy lifting Earnings improvement leading to Disposal of two large High pressure die casting foundries to SEC listed Shiloh Industries - delivered major turnaround and substantial EBITDA improvement (c21m+€). - Turnaround CFO (Automotive PE investment - Holland, Italy, Czech, Germany) - Funding assessment/3YP for large UK yacht manufacturer (Group CFO employee) - Major factory site - lease negotiation saving investors £xm - Lengthy overseas Transfer pricing enquiry - Speculative PE acquisition diligence - Solvent liquidation Chinese entity Show less

    • United Kingdom
    • Commercial and Industrial Equipment Rental
    • 100 - 200 Employee
    • Group Chief Financial Officer
      • Oct 2019 - Sep 2020

      Develop strategic direction with CEO to focus on Growth and cost reduction Drove major cost reduction program - identified initial savings of £4.5-£5.0m Delivered business reshaping in line with Cost reduction program Reshaping of finance function, leading to recruitment of Group CFO and Group Controller Reduced size of finance function by c30% Developed full 3YP model (backwards/forwards) - including cash forecast Developed 13 week rolling cash, introduced DD scheme, secured Hedging facility, oversaw Furlough claims, achieved 6 month lender payment holidays, concluded stat accounts with unqualified opinion Show less

    • United Kingdom
    • Manufacturing
    • 200 - 300 Employee
    • Group Chief Financial Officer
      • Jul 2010 - May 2015

      FMCG manufacture - Household products - Private Label and Branded offerings- major closed loop "saved from landfill" recycler Business T/O £250m, as Investor/Director co-ordinated PE EXIT during tenure from Rutland Partners to a European Family (returning 2.8x investment). Entire Management Team retained. Group Responsibility for all things Financial, Tax, Funding and IT - including ERP implementation Management of shareholder/Banking relationships - raised new low cost finance in UK and Poland Investment approval and appraisal - capex to £10m pa Strategic development and long term planning Line responsibility – 6 Finance Directors plus Head Office function Manufacturing units in UK, Poland, Netherlands, Vietnam, China Sales units in UK, France/Spain, Germany/Netherlands, Russia, Poland, USA (minor) Show less

    • United States
    • Professional Training and Coaching
    • 1 - 100 Employee
    • Interim CFO Restructuring
      • Jan 2010 - Jun 2010

      Automotive manufacturer - electric vehicle batteries and advanced batteries for hand held power tools Owned by hedge Fund - T/O £60m Turnaround role (was subsequently sold by fund to trade buyer). UK, Poland and Switz Created a stable environment from which to grow- business was purchased via a pre-pack Tight cash/working capital management- One part of business was very cash negative Restructured Finance function - Hired CFO and overseas FD Managed very difficult (insolvent) customer relationship Raised new finance injection to Group Show less

    • Group Finance Director
      • Feb 2006 - May 2008

      Aircraft and Automotive OEM - Private Equity ownership Overall financial responsibility for the Group -T/O £330m Manufacturing Sites in UK, USA, GERMANY Management of shareholder/syndicate/advisor relationships - banking syndicate of 9 Automotive division sold during tenure Investment approval and appraisal Strategic development and long term planning Oversight and development of contracting capability in the business Line responsibility – 5 Finance Directors plus Head Office function Right sized and relocated all Head Office functions Show less

    • France
    • Aviation and Aerospace Component Manufacturing
    • 700 & Above Employee
    • VP Finance / Finance Director / Company Secretary
      • Jul 2003 - Jan 2006

      Owned by French Parent - SNECMA/SAFRAN Messier Dowty Ltd - Aerospace OEM - Civil and Military - Landing Gear T/O in excess of £200m Main Board position with responsibility for financial integrity, Site/business unit performance, project accounting, working capital and budgeting. Developed commercial pricing volume of winning 787 bid - worth $1.8bn over 20 years Responsible for Contract pricing, business modelling and strategic assessment. Vice President Finance of the Boeing and Military business unit (UK, Canada, USA and France) via a complex matrix organisation. Site responsibilities in UK, Canada and USA Line Management of UK Finance team (26 heads) Main Board Director of MDInc, a small, but growing, US design office (T/O $8m) Aided the French Group IPO at local level Show less

    • Head of Group Finance and Operations
      • Mar 1999 - May 2003

      Civil Aircraft OEM- 100 seater civil jet manufacture + Military Aircraft renovator T/O to £600m Responsibility for financial integrity in a complex group structure. Commercial/financial review of deals/contracts and site investment decisions. Management of the finance function (c75 staff), including a shared service facility. Group representative on Finance Development Forum – the body responsible for development, training and career planning of accountants across BAE SYSTEMS. Supervisory board member of aircraft simulator JV (with Lufthansa). Full Board authority. Show less

    • Financial Controller
      • Jun 1997 - Feb 1999

      Major business unit of BAE - T/O above £3.5bn and highly profitable - contract management of the UK's largest export contracts in the KSA. Management and supervision of over 30 staff covering all ledgers, payrolls (5000+staff), management accounting, IT systems and all aspects of statutory compliance. Supervisory Board position - with Lufthansa JV partner Accountability for finance systems upgrade (to SAP Version 3). Development of multiple currency SAP based payrolls. Functional participant in business unit rationalisation (a major change programme). Chairmans Award for innovation - cash produced £20m pa in perpetuity, reducing 12000 docs to 12. Show less

    • Saudi Arabia
    • Defense & Space
    • 700 & Above Employee
    • Internal Audit Manager - area digital position
      • Apr 1994 - Jun 1997

      Created a professional, forward-looking advisory function. Encouraged the development of value adding process change. Impartially advised CEO on the financial implications of management decisions. Managed a number of reviews covering project management, construction, tendering, business support and overhead reduction. Promoted improved fraud detection checks across the business. Created a professional, forward-looking advisory function. Encouraged the development of value adding process change. Impartially advised CEO on the financial implications of management decisions. Managed a number of reviews covering project management, construction, tendering, business support and overhead reduction. Promoted improved fraud detection checks across the business.

  • PricewaterhouseCoopers
    • Glasgow, United Kingdom
    • Audit and Business Services Manager/Consultant
      • Aug 1986 - Mar 1994

      Trained with Price Waterhouse in Glasgow, then spent period between audit and client consultancy. Management of a client portfolio (c20 clients). Responsibilities were split equally between Audit, Business Management and Consultancy. This resulted in a number of client directed secondments. Primary exposure in the following sectors: Financial services, Insurance, Retail, Manufacturing, Construction, Health, Catering, Distribution and Local Authority. Reviewed the sale of Cigna Insurance (life/non-life book) to Britannia life. Financial Controller of Burns Stewart plc during period of flotation – produced yellow book short form/long form inputs. Hands-on experience of several due diligence exercises and one-off reviews. Consultancy role implementing financial systems into all Scottish Further Education Colleges as part of their drive to become “self accounting”. Show less

Education

  • University of Strathclyde
    Bachelor of Arts (B.A.) - Business and Administration, Accountancy, Tax, Commercial Law, Marketing, Audit
    1983 - 1986

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