Finance director of the year - PLC
Winner: Sean Christie, Croda International
The winner of the PLC category at the awards is an example of how mopping up after a deal is just as crucial as arranging it in the first place. Although Croda International had already decided in principle to buy ICI’s Uniqema business in the same week that Sean Christie joined as finance director in 2006, he was left with the job of selling the deal to an initially unconvinced City, which he achieved in part by promising to cut costs by £20m and issuing an extra 10 per cent in equity at no cost. He was also left with the job of going through with the cuts after the deal was signed, including letting go of ten of Uniqema’s 11 managers. Christie admits this was a hard time, but says it was best to get the job over quickly to get any bad news out of the way.
Runners up: Nick Bate, SSP Holdings; Mike Holt, VP.
Finance director of the year - limited company
Winner: Mark Phillips, Zenith Vehicle Contracts
Before he joined as finance director in 1998, Phillips had thought Zenith Vehicle Contracts, then with a turnover of £15m, would be too small a business for his ambitions. But since then he and chief executive Andrew Cope have presided over a business that has pulled off a compound annual growth rate of 20 per cent and produced pre-tax profits of £7m on a £100m turnover this year. It has also been through three management buyouts in three years that each time has given more of a share of the business to the employees. And it has made its first acquisition – of southern-based Provecta. Phillips has overseen all this and is now planning to make synergies of £2.2m following the acquisition – £1m more than was initially promised.
Shortlisted: Paul Grattan, C Spencer; Philip Screeton, Lowell Group.
Finance director of the year - SME
Winner: Stephen Mitchell, Sheffield Chamber of Commerce & Industry
Since joining the Chamber as finance director three years ago, Mitchell has managed to restructure the organisation to the point where having been heavily reliant on public funding it is now on its way to being 50 per cent commercially funded. There is now an 85 per cent survival rate after two years for all new businesses in Sheffield.
Shortlisted: Peter Render, Yorkshire Tourist Board
Young finance director of the year
Winner: David Sadler, Grontmij
One of Insider’s 42 under 42ers this year, Sadler has been finance director of his business for six years, and when its original owner Carl Bro decided to sell up was given a key role in promoting the business to potential buyers – including Grontmij, which was so impressed with him that it took him on as finance director when it acquired the business in 2007. Since then Sadler has taken a key role in improving relations with shareholders – something the Dutch-owned company had previously been criticised for – and in spearheading three acquisitions to boost turnover in the UK. As 30 per cent of Grontmij’s investors are UK-based, he has an important role in maintaining relations with them too.
Runners up: Paul Clarke, Maple Leaf Bakery; Kevin Jones, Sheridan Fabrications
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