My background

Olivier Gumy

Chartered accountant

Married, three children

8 September 1964

GC Gouvernance et Conseil Sàrl – Independent advisory firm dedicated to governance, administration and finance

Board member, Marly

Board of Director, Board of Trustee as well as management mandates.

The aim of the company is :

• To provide all advice in matters of governance, management, direction, restructuration and business strategies
• To perform all service mandates in particular in the movable, real estate, financial, and social security fields 
• Management, direction, administration and representation of interests of all companies, corporate groups, foundation or pension funds.

AMPCO METAL SA – A privately owned international company , excellence in Engineered alloys. AMPCO METAL is an integrated metal producer. Under the AMPCO® and AMPCOLOY® brands, the company delivers the widest range of premium specialty bronzes and copper alloys, providing exceptional physical and mechanical properties.

Group CFO

NESTLE SA – The largest food company in the world with 2017 revenues of CHF89.8B. Nestle Capital Advisers SA is a wholly-owned subsidiary of Nestlé S.A. tasked with managing the Group's pension liabilities of CHF37B. 

Head of Corporate Pension and Group Risk Services, Vevey

Elevated to clarify Group Pension obligations, inject cohesion and de-risking strategy, risk based management of insurance and captive reinsurance company. Reporting at corporate level to the Group CFO with a presentation to the Nestlé SA Board of Directors twice annually, and leadership of a team of 80 staff.

• Initiated a Functional Business Strategy to clarify risk, initiate de-risking and sustain an adequate pension provision. Created a strategic plan to galvanise staff engagement, drive efficiencies and embed functionality.
• Gained traction with cost reductions through simplification, reduction in the number of managers, reduction in investment platforms at Robusta Asset Management, and a lowering of VaR by 15%.
• Eliminated UK governance deadlocks and provided significantly increased value by leveraging employer guarantee and review of the SAA, improving Group cash flow.

NESTLE SWITZERLAND SA – 3500 employees, 6 factories, up to 17 businesses, with revenue of CHF1.5B.

Chief Financial Officer, Vevey

Appointed to confront the abrupt strengthening of the CHF, devising methodologies to mitigate manufacturing company risk and loss of competitiveness in a controlled market. Head of Finance supporting the CEO, Member of the Management Committee and oversight of a staff of ~100.

• Executed a sales initiative for the loss-making Mondo business, securing a buyer providing the cost of the dismissal of staff, and leading to disposal and liquidation of inventories within 6 months. 
• Collaborated with the Management Committee to effectively respond to the discontinuation of the CHF-EUR 1.20 parity floor protecting the Swiss economy. Identified strategies associated with 3 continuous improvement initiatives and listed improvements to address the need for improved business competitiveness.
• Engendered a culture of reinvesting generated savings in strategic portfolio management, successfully reducing structural costs year-on-year, utilising a NCE approach combining Lean and 6 Sigma in collaboration with members of the Management Committee.
• Implemented significant improvements in the Finance Function, cascading change throughout business units.
  - Offered an improved cash flow and reduced invested capital.
  - Optimised contribution to the Swiss obligatory inventories.

NESTLE VIETNAM LTD – 1500 employees, 8 lines of businesses Nestlé Product in Vietnam.

Chief Financial Officer, Ho Chi Minh City

Given the remit to improve the quality of financial information in Vietnamese operations. Sponsored an SAP implementation and outsourcing of finance activities to Manila, leading a staff of 40 with authority for finance, legal, tax and procurement.

• Successfully reduced managerial turnover with a well-constructed remuneration and incentive plan, consolidating the quality and stability of work undertaken. 
• Negotiated disposal of a loss-making factory by orchestrating a Nestlé license for the buyer for 12 months, and avoiding redundancies as part of the purchaser’s commitment. 
• Achieved a simultaneous implementation of SAP and the outsourcing of part of the finance function, also ensuring compliance with idiosyncratic Vietnamese accounting methodologies to successfully comply with backdated audits.

NESTEC – Offers commercial research and consulting services to Nestlé S.A. and its subsidiaries. 

Head of Financial Reporting of the Nestlé Group, Vevey

Hired to complete a stalled implementation of IAS19 and implement a labour-saving streamlined consolidation tool. Tasked with the preparation of Nestlé Group financial statements and statistical information, implementation of new accounting standards, liaison with Group Auditors, analysis of M&A projects. 20 staff with membership of the Executive Management Committee.

• Expertly implemented IAS19, beneficially reducing recognised assets by >CHF600M. Initiated automatic preparation of the Group cash flow statement, overcoming considerable complexity and reducing working lead-times by 2 days, and facilitated rapid simulation of M&A transaction proposals. 
• Applied highly effective people management skills to develop a restructured decision support team for financial quality that not only enhanced the support given to the markets but also rationalised staff levels.

KPMG – KPMG is a multinational professional services company and one of the ‘Big Four’ auditors.

Audit Partner, Fribourg

Recruited as a graduate and progressed to Partner handling audit, accounting, tax, legal and economic advice. Lead of the office, 15 people, ultimate budget ~CHF4M with audit responsibility for multinationals including Nestlé, Michelin, VibroMeter, the Alusuisse-Lonza Group, LauraStar and Nordmann & Cie SA.

• Undertook appropriate professional training culminating in as the youngest CPA in Switzerland in 1990.
• Displayed outstanding leadership capability, rapidly incorporating technical skills and exposure to a diverse range of industries, securing regular promotion culminating in Partnership at the age of 33.