Pierre Galbois
Professor of Finance at International University of Monaco (IUM)- Claim this Profile
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Bio
Jorge Zuazola
Pierre Galbois is the best CFO I have worked with in my career to date. Back in 1995 he was man ahead of his time. He had the vision to float Adidas in accordance with International Accounting Standards (IAS) as a substitute of German GAAP. Today IAS has formed the basis for IFRS which the Security Exchange Comisssion (SEC) has accepted (since 2006) as the alternative reporting GAAP to US GAAP for many foreign companies listed in NYSE and Nasdaq. This proves Pierre´s vision: he was a decade ahead of everyone else. No wonder why Adidas shares went from an initial offering price of 65 DM a share (circa 33 Euros) to 240 DM (circa 120 Euros) in just 1 year. This was Pierre´s success. I still recall that the Financial Times credited him for making the move from German GAAP to IAS. That is why I started with the comment that Pierre is simply the best CFO. This is not an overstatement, in the Sarbanes-Oxley era I have closely worked for several Audit Committees of US listed companies giving my independent professional view. Pierre´s skills (GAAP knowledge, IT knowledge, vision, management style) exceed, still today, those of the other American or European CFOs I met. I think that the Audit Committees of the Board of Directors around the world do need someone with the unparalalled experience of Pierre Galbois. He will make a unique difference.
Jorge Zuazola
Pierre Galbois is the best CFO I have worked with in my career to date. Back in 1995 he was man ahead of his time. He had the vision to float Adidas in accordance with International Accounting Standards (IAS) as a substitute of German GAAP. Today IAS has formed the basis for IFRS which the Security Exchange Comisssion (SEC) has accepted (since 2006) as the alternative reporting GAAP to US GAAP for many foreign companies listed in NYSE and Nasdaq. This proves Pierre´s vision: he was a decade ahead of everyone else. No wonder why Adidas shares went from an initial offering price of 65 DM a share (circa 33 Euros) to 240 DM (circa 120 Euros) in just 1 year. This was Pierre´s success. I still recall that the Financial Times credited him for making the move from German GAAP to IAS. That is why I started with the comment that Pierre is simply the best CFO. This is not an overstatement, in the Sarbanes-Oxley era I have closely worked for several Audit Committees of US listed companies giving my independent professional view. Pierre´s skills (GAAP knowledge, IT knowledge, vision, management style) exceed, still today, those of the other American or European CFOs I met. I think that the Audit Committees of the Board of Directors around the world do need someone with the unparalalled experience of Pierre Galbois. He will make a unique difference.
Jorge Zuazola
Pierre Galbois is the best CFO I have worked with in my career to date. Back in 1995 he was man ahead of his time. He had the vision to float Adidas in accordance with International Accounting Standards (IAS) as a substitute of German GAAP. Today IAS has formed the basis for IFRS which the Security Exchange Comisssion (SEC) has accepted (since 2006) as the alternative reporting GAAP to US GAAP for many foreign companies listed in NYSE and Nasdaq. This proves Pierre´s vision: he was a decade ahead of everyone else. No wonder why Adidas shares went from an initial offering price of 65 DM a share (circa 33 Euros) to 240 DM (circa 120 Euros) in just 1 year. This was Pierre´s success. I still recall that the Financial Times credited him for making the move from German GAAP to IAS. That is why I started with the comment that Pierre is simply the best CFO. This is not an overstatement, in the Sarbanes-Oxley era I have closely worked for several Audit Committees of US listed companies giving my independent professional view. Pierre´s skills (GAAP knowledge, IT knowledge, vision, management style) exceed, still today, those of the other American or European CFOs I met. I think that the Audit Committees of the Board of Directors around the world do need someone with the unparalalled experience of Pierre Galbois. He will make a unique difference.
Jorge Zuazola
Pierre Galbois is the best CFO I have worked with in my career to date. Back in 1995 he was man ahead of his time. He had the vision to float Adidas in accordance with International Accounting Standards (IAS) as a substitute of German GAAP. Today IAS has formed the basis for IFRS which the Security Exchange Comisssion (SEC) has accepted (since 2006) as the alternative reporting GAAP to US GAAP for many foreign companies listed in NYSE and Nasdaq. This proves Pierre´s vision: he was a decade ahead of everyone else. No wonder why Adidas shares went from an initial offering price of 65 DM a share (circa 33 Euros) to 240 DM (circa 120 Euros) in just 1 year. This was Pierre´s success. I still recall that the Financial Times credited him for making the move from German GAAP to IAS. That is why I started with the comment that Pierre is simply the best CFO. This is not an overstatement, in the Sarbanes-Oxley era I have closely worked for several Audit Committees of US listed companies giving my independent professional view. Pierre´s skills (GAAP knowledge, IT knowledge, vision, management style) exceed, still today, those of the other American or European CFOs I met. I think that the Audit Committees of the Board of Directors around the world do need someone with the unparalalled experience of Pierre Galbois. He will make a unique difference.
Experience
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International University of Monaco
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Monaco
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Higher Education
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100 - 200 Employee
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Professor of Finance
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May 2001 - Present
Professor of Finance & Managerial Accounting (part time). IUM ranked 35 place in The Economist's 2008 ranking of world top MBA. Occasionaly doing consulting work: restructuring and turnaround
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Professor of finance
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2001 - Present
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adidas
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Germany
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Sporting Goods
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700 & Above Employee
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Executive Vice President & CFO, Member of the Board
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Jan 1994 - Jul 1996
Responsible for all Finance and Data Processing (World-wide) Major accomplishments: . Actively participated in the turnaround of adidas: net profit 7% of sales, . First German company to have IASC certification (IFRS) and to be listed in Frankfurt with IAS accounting, . Complete redesign of EDP world-wide: adidas has become a leader in networks and client-server systems, . Implementation of efficient EDP management tools, enabling optimisation of operational decisions, and… Show more Responsible for all Finance and Data Processing (World-wide) Major accomplishments: . Actively participated in the turnaround of adidas: net profit 7% of sales, . First German company to have IASC certification (IFRS) and to be listed in Frankfurt with IAS accounting, . Complete redesign of EDP world-wide: adidas has become a leader in networks and client-server systems, . Implementation of efficient EDP management tools, enabling optimisation of operational decisions, and profits. Show less Responsible for all Finance and Data Processing (World-wide) Major accomplishments: . Actively participated in the turnaround of adidas: net profit 7% of sales, . First German company to have IASC certification (IFRS) and to be listed in Frankfurt with IAS accounting, . Complete redesign of EDP world-wide: adidas has become a leader in networks and client-server systems, . Implementation of efficient EDP management tools, enabling optimisation of operational decisions, and… Show more Responsible for all Finance and Data Processing (World-wide) Major accomplishments: . Actively participated in the turnaround of adidas: net profit 7% of sales, . First German company to have IASC certification (IFRS) and to be listed in Frankfurt with IAS accounting, . Complete redesign of EDP world-wide: adidas has become a leader in networks and client-server systems, . Implementation of efficient EDP management tools, enabling optimisation of operational decisions, and profits. Show less
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Chief Financial Officer
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Aug 1983 - Mar 1989
. Major contribution to the recovery and development of the group. Sales increased from 500 MF to 2 Billion FF, and net income from a loss to 100 MF net profit. . IPO on the Paris Stock Exchange. . Complete reorganisation of the group's legal and tax corporate structure, of procedures and of staff functions. . Design and implementation of a computerised system integrating legal accounting, consolidation, management accounting and reporting for all legal entities of the group . Major contribution to the recovery and development of the group. Sales increased from 500 MF to 2 Billion FF, and net income from a loss to 100 MF net profit. . IPO on the Paris Stock Exchange. . Complete reorganisation of the group's legal and tax corporate structure, of procedures and of staff functions. . Design and implementation of a computerised system integrating legal accounting, consolidation, management accounting and reporting for all legal entities of the group
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PARIBAS
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France
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Banking
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1 - 100 Employee
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PRENATAL CFO
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Nov 1976 - Mar 1983
Company Secretary? cumulating the functions of: . Management of foreign subsidiaries of prenatal (Italy, Spain, Germany, Holland, Belgium and Switzerland), and . Chief Financial Officer of the Prenatal Group. After April 1981 combined : . General Management of Prénatal's foreign subsidiaries, negotiations on behalf of Paribas for their sale. . Financial control of SCOA (international distribution). . and other specific assignments : Société Générale de Fonderie, FNAC. Company Secretary? cumulating the functions of: . Management of foreign subsidiaries of prenatal (Italy, Spain, Germany, Holland, Belgium and Switzerland), and . Chief Financial Officer of the Prenatal Group. After April 1981 combined : . General Management of Prénatal's foreign subsidiaries, negotiations on behalf of Paribas for their sale. . Financial control of SCOA (international distribution). . and other specific assignments : Société Générale de Fonderie, FNAC.
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Texas Instruments
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United States
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Semiconductor Manufacturing
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700 & Above Employee
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Financial Manager, France & southern Europe
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Jun 1965 - Mar 1972
FINANCIAL MANAGER France & Southern Europe (1969-1975) Responsible for accounting, credit and collections, treasury, tax and legal departments. Major accomplishments : . Reorganised and computerised accounting functions: accounts payable, accounts receivable, general ledger, budgetary control, . Developed new financing, MANAGEMENT TRAINING PROGRAM - DALLAS (TEXAS) 1965-1967 (recruited in the US) Several assignments including production planning, product marketing… Show more FINANCIAL MANAGER France & Southern Europe (1969-1975) Responsible for accounting, credit and collections, treasury, tax and legal departments. Major accomplishments : . Reorganised and computerised accounting functions: accounts payable, accounts receivable, general ledger, budgetary control, . Developed new financing, MANAGEMENT TRAINING PROGRAM - DALLAS (TEXAS) 1965-1967 (recruited in the US) Several assignments including production planning, product marketing, procurement, and feasibility study for a semi-conductor production plant in Canada. Show less FINANCIAL MANAGER France & Southern Europe (1969-1975) Responsible for accounting, credit and collections, treasury, tax and legal departments. Major accomplishments : . Reorganised and computerised accounting functions: accounts payable, accounts receivable, general ledger, budgetary control, . Developed new financing, MANAGEMENT TRAINING PROGRAM - DALLAS (TEXAS) 1965-1967 (recruited in the US) Several assignments including production planning, product marketing… Show more FINANCIAL MANAGER France & Southern Europe (1969-1975) Responsible for accounting, credit and collections, treasury, tax and legal departments. Major accomplishments : . Reorganised and computerised accounting functions: accounts payable, accounts receivable, general ledger, budgetary control, . Developed new financing, MANAGEMENT TRAINING PROGRAM - DALLAS (TEXAS) 1965-1967 (recruited in the US) Several assignments including production planning, product marketing, procurement, and feasibility study for a semi-conductor production plant in Canada. Show less
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Education
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1963 - 1965
The Wharton School
MBA, Intl. Business Administration - Finance -
1960 - 1963
KEDGE Business School
Ecole Supérieure de Commerce, Busines Administration
Community
