Verified Expert in Finance
Guilhermo has 20 years of experience in finance, working for large consumer goods and pharmaceutical companies such as Unilever, Mondelez, Novartis, and GlaxoSmithKline. Over the last ten years, he has been CFO for different markets across Latin America and Europe, managing businesses with up to $1 billion in sales and engaging in projects involving M&A, restructuring, joint ventures, and ERP implementation. Guilhermo joined Toptal to share his experience across other industries and businesses.
Area CFO Consumer Health for France and Iberia
- Led the finance function for the consumer health division for France, Spain, Portugal, and French Africa, with approximately $1 billion in sales and a direct team of 20.
- Oversaw the implementation of the new GSK and Pfizer joint venture in the region, supporting the org structure redesign, estimating and tracking synergies, restructuring costs, and leading the adaptation of processes and IT systems.
- Designed and implemented a new org structure for finance in the area, centralizing standard processes for the region in less costly markets like Portugal and improving both cost to serve and quality.
- Supported the negotiation with unions in France within the large restructuring brought by the new joint venture, developing the integration business case and engaging in the negotiations with union members, lawyers, and consultants.
- Managed the business through the pandemic, acting to reallocate investments, revamping the forecasting process, and simplifying ways of working to cope with a new environment. Minimized the profit loss due to falling demand in the period.
CFO Consumer Health of Latam North Cluster
- Acted as the CFO for the newly created north Latam cluster region, overseeing 12 markets with combined sales of $400 million.
- Led the integration between the Andina and Caricam regions, being awarded the Innovation Performance Trust Gold award after a powerful change in management team.
- Managed the migration of the company's ERP systems from JD Edwards to SAP successfully.
- Revamped the finance organization, separating business partnering activities from the back office, creating a new controlling hub, and improving efficiency dramatically in both back-office and business partnering areas.
- Led the evaluation of new sales organizations and routes to market in Central America and Caribbean markets, analyzing the trade-off between on-the-ground presence, distributor, and export markets.
- Oversaw the overhaul of the sales forecasting process in Central America and the Caribbean, improving the reliability of P&L forecasts and allowing for better management of resources.
CFO Consumer Health Andina
- Acted as the CFO for the newly created region within the new GSK-Novartis C joint venture in charge of Colombia, Venezuela, Peru, and Ecuador. Andina was the most profitable market in Latin America accounting for 40% of the region's earnings.
- Led the successful transition into the new joint venture and new Andina region, creating a new legal entity, ERP setup, and centralization of several processes in Colombia as a shared service for the other markets.
- Revamped the business strategy, implementing more focused resource allocation and ensuring more financial discipline in cost control. Improved 5pp in net margin, despite headwinds in product supply and currency devaluation.
- Led the restructuring and eventual shut down of the Venezuela operation.
- Developed a new finance team, improving its business partnering capabilities significantly and, at the same time, simplifying time-consuming back-office activities.
CFO for OTC Latin America
- Led the finance organization for Novartis's OTC division in Latin America. Delivered solid sales growth of 19% in constant currency and improved profit from break-even in 2013 to 7% profit margin in 2014.
- Redesigned the strategy, improving resource allocation and leading profit protection measures on value markets, ensuring delivery of financial commitments despite strong headwinds in Venezuela and Argentina.
- Led the restructuring of businesses in Brazil, Venezuela, and Argentina, improving profitability and helping the region to become profitable for the first time.
CFO for OTC Mercosur
- Acted as the finance head for the over-the-counter (OTC ) division for Mercosur (Brazil, Argentina, Chile, Uruguay), managing finance, compliance, procurement, and IT.
- Led vital profit protection initiatives, ensuring delivery of profit targets every year despite strong headwinds from currency depreciation and supply shortages. Simplified org structure while securing adequate investment level for key brands.
- Identified, developed, and led the implementation of an alternative route for public tenders in Brazil, winning for the first time a large anti-tobacco contract worth $30 million and helping to exceed sales and profit targets.
- Developed the valuation and had a leading role in a large M&A bid for Bristol Meyers Latam OTC assets acquisition worth $500 million for Brazil and Mexico.
Senior Treasury Manager
- Managed treasury operations for Mondelez Brazil, including cash flow of $300 million FCF/year and $2 billion total inflows, balance sheet forecast and management, bank relationships, investment, debt, remittance strategy, and FX trading and hedging.
- Partnered with and influenced the business to improve working capital management. Achieved an expressive reduction on working capital ratios (18 days in cash conversion cycle or $80 million), significantly exceeding cash generation targets.
- Developed and implemented a new treasury strategy—through improvement in bank diversification strategy, we increased investment yields and significantly improved foreign currency trade performance.
- Revamped foreign currency hedge strategy, improving the adherence of hedging to the business cycle and reducing hedging costs. Aligned FX hedge with commodities procurement strategy.
- Managed the integration of the treasury function after the global acquisition of Cadbury.
- Led a bidding exercise to change banks for cash management (payables and receivables) and payroll, improving costs for bank transaction fees.
- Supported the development of the strategy for the legal entity integration and helped redesign the tax planning arrangement for the acquisition of Cadbury.
Business Controller for Chocolate
- Acted as the finance head for the chocolate category, the largest business in Mondelez Brazil ($600 million), and oversaw forecast and analysis, evaluation of new projects, and comprehensive strategy counseling.
- Led the development of a new long-term strategy, setting the key growth platforms and major innovation projects that resulted in outstanding business performance for the following three years—yearly average growth above 15% and record market share.
- Supervised the development and approval of investments for manufacturing capacity expansion, with total investments above $50 million.
- Led the development and approval of business cases for several new product launches, helping the company deliver strong sales growth and increase its lead in market share vs. competitor Nestlé.
- Worked intensely on team building and development, enhancing the business partnering capabilities of the team and significantly improving the relationship between finance, marketing, and sales.
Manufacturing and Logistics Controller
- Controlled three different manufacturing sites—margarine and ice cream sites in Sao Paulo, Valinhos, and Recife—and logistics for the ice cream division, managing total costs of $400 million, including material, conversion, and logistics.
- Supported the restructuring of the ice cream manufacturing—closure of one plant with the transfer of production to two separate sites and a smooth transition, carefully managing budget, inventory, fixed assets, human resources, and production.
- Managed the restructuring of the finance function on the three sites, overseeing the transfer of the processes and personnel to a new shared services center.
- Led an initiative to optimize the capacity of a margarine oil refinery by selling refining services to other companies, generating savings of over $2 million per year and helping protect margarine business tight margins.
- Played a key role on several projects, including renewal of tax benefits, production sourcing studies involving multiple countries, and evaluation of restructuring of margarine business.
Finance Manager for Low-Income Consumers in Latam
- Acted as a finance manager in a multi-disciplinary group to develop a new business venture tailored to reaching low-income consumers in Latin America.
- Supported the development and implementation of two pilot franchise stores in low-income neighborhoods in Asuncion, Paraguay. Managed all financial, IT, and legal operations, including contract obligations with franchisees.
- Developed an entire roll-out business case of the new business venture for Latin America and led the discussions with senior management for resource allocation and full implementation.
Category Accountant for Household Care
- Served as a finance manager overseeing the household care category in Brazil.
- Supported the relaunch of the Cif cleaners brand in Brazil.
- Led initiatives to improve margins on non-core products, such as bleach and local brands, through smart pricing, management of trade investments and manufacturing, and packaging cost reduction initiatives.
- Demonstrated strong communication skills and learning capacity that resulted in joining the Latin America headquarter team.
- Managed the consolidation of KPIs for all restructuring initiatives across the region, including M&A implementation, manufacturing site restructuring, and commercial reorganizations.
- Supported the preparation of analysis and presentation decks for senior management on several different topics.
Finance trainee at Business Planning and Controlling
- Joined the finance function for results consolidation and analysis across multiple Unilever divisions in Brazil and reported to the headquarter.
- Took over additional responsibilities and became the first point of contact between the headquarter in London and Brazil for reporting and analysis.
- Supported the development of the legal entity and tax planning strategy to integrate the Bestfoods acquisition in Brazil, working alongside external lawyers and the tax team.
International Executive Master's Degree in Business Administration (MBA)
University of Pittsburgh - Pittsburgh, PA, USA
Coursework in Finance, Controlling
Fundação Getúlio Vargas - Sao Paulo, Brazil
Undergraduate Degree in Mechanical Engineering
State University of Campinas - Campinas, SP, Brazil