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Case Study

Chief Financial Officer

Ukrainian Industrial Company

The $100 million Ukrainian subsidiary of a publicly traded $3 billion global industrial company was struggling following a global financial crisis. The subsidiary was the company’s flagship investment in the country.


Turnaround & Restructuring Initiatives

  • The financial crisis led to a significant currency devaluation.

  • The devaluation drove the inflation rate to 20%.

  • The subsidiary’s cash flows turned negative as a result of the economic turmoil.

  • Contract negotiation

    • Led re-negotiation of the subsidiary’s largest multi-million-dollar sales contract, achieving a CPI+100bps monthly pricing adjustment, reduction in DSO by 60 days, and increases to annual free cash flow of $2 million.

  • Business model revisions

    • Led the team to launch two new business lines, increasing revenues by 20% and landing stable international brands under long-term contracts.

  • Cash flow, cost containment, and margin improvements

    • Implemented weekly cash flow forecasting and controls, restoring the business to positive cash flow and a healthy operating margin.

  • Restructuring plan development and execution

    • Reduced headcount from 300 to 200, saving two manufacturing plants from closing.

    • Negotiated $10MM in annual purchasing savings across the entire supply chain.


  • The return to profitability allowed the subsidiary’s parent to maintain its image as a key foreign investor and community partner.

  • As CFO, was named Chairman of the subsidiary, with full P&L responsibility. Served as the face of the parent company in the national market, resolving critical crisis communication challenges.

  • The business became the national market share leader.

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