Paolo FALCONE

En résumé

Entreprises

• IGT - European Treasury Director

  2015 - maintenant International Game Technology PLC (IGT PLC), with revenues of EUR 5.1 bln is an end-to-end gaming company. The Company is engaged in operating and providing an integrated portfolio of technology products and services across various gaming markets, including lottery management services, online and instants lotteries, electronic gaming machines, sports betting, interactive gaming and commercial services
  
  * Reporting to the SVP and Treasurer in the USA
  * Lead Treasury functions for all the European entities
  
  Accomplishments
  * Set up a European Treasury Centre in London, centralizing bank facilities, overdrafts
  * Implemented a European cash pooling and a 3 months Cash forecast
  * Set up additional Banks and Insurance guarantees facilities to support business Europe wise
  * Renegotiated a E 150 M Securitization program for the Italian companies
  * Implemented a E 40 M reverse factoring program
  * Set up E 100 M uncommitted multicurrency facility

• IGT - European Treasury Director

  2015 - maintenant

• CGGVeritas - Group Operation Treasurer

  Paris 2013 - 2015

• CGG - Group Operations Treasurer

  Paris 2013 - 2015 CGG is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry; with 10,000 staff working in over 70 locations worldwide. CGG is listed on the Euronext Paris and the New York Stock Exchange
  Group Operations Treasurer
  * Reporting to the Corporate Group Treasurer, leading the Group Treasury department
  * Lead Treasury functions for all operations worldwide, Guarantees, Credit Insurance and Credit and political risk are also under my responsibilities
  Accomplishments
  * Enhanced the role as the Group in house Bank of CGG Amsterdam treasury center
  * Implemented Treasury work station
  * Centralization of Debt, liquidity and FX exposures
  * Set up Banks and Insurance guarantees facilities to support business worldwide
  * Set up local off B/S transactions to fund local operations, in countries such Brazil Mexico, UK
  * Managed FX exposures , trapped cash issues and cash circularization

• Ascometal - Treasury Director

  HAGONDANGE 2005 - 2012 Ascometal is a Euro 1000 Million sales company: a major European player in the special steel business with 4 plants in France and 5 International subsidiaries (Europe, USA and Singapore) .Belonged to Lucchini Group. Since November 2011 is fully owned by Apollo a major US Investment Fund
  
  Treasury Director
  
  * Reporting to the Corporate Finance Director, leading the Account Receivables and Treasury department
  * Responsible for all Treasury activities, including debt funding, managing FX exposures, interest rate, and commodities hedging, cash forecasting, and from the Account Receivables side supervising the collection, past due credit control process , and responsible for the company's credit insurance
  
  Accomplishments
  * Set up and manage an uncommitted Euro 100 M and a Euro 75 M Affacturage programs ( factoring), from contracts negotiation, triggers definition, A/R file generation and accounting follow up
  * Set up of a new A/R E 105 Million Securitization program
  * Set up for a French subsidiary a E 5 Million factoring program
  * Responsible of compliance of triggers and covenants for all company's debt instruments
  * Implemented Treasury policies for cash management, foreign currencies and interest rates hedging
  * Set up cash forecasting procedures generating 13 weeks and monthly cash flow forecasts, maintained accurate and timely cash flow projections and variance analysis
  * Defined and implemented procedures to reduce overdue accounts and for credit limits assignments to clients
  * Implemented A/R policies, procedures, reportings and a new Credit insurance policy

• Ascometal - Directeur de la Tresorerie

  HAGONDANGE 2005 - 2012 Rattaché au Corporate Finance Director en Italie, autour d’une équipe de 7 personnes. Responsable de la
  Trésorerie ,de la comptabilité clients et de l’assurance credit
   Gestion de la liquidité et des prévisions de trésorerie.
   Mise en place de procédure de couverture de taux et de change.
   Mise en place et gestion de un programme de titrisation de E 120 M .
   Mise en place et gestion des 3 Programmes d’ Affacturage .
   Mise en place et gestion d’un TMS ( Treasury Management System).
   Réorganisation de la fonction crédit, assurance credit et relance clients.
   Mise en place et gestion de une police Assurance credit
  

• Parmalat - Parmalat

  Parme 2005 - 2005 Parmalat Group is one of the major worldwide players in the production and distribution of milk, mainstream dairy products (yogurt, cream-based white sauces, desserts, cheeses) and fruit-based drinks, with revenues of over EUR 3.9 bln. The group is present in twelve core countries, across five regions (Europe, North America, Central and South America, Australia and South Africa). Parmalat in January 2004 filed petition for relief under the Italian Bankruptcy Code. In September 2005 the Group successfully exit from the bankruptcy procedure and quoted on the Milano Stock Exchange.
  
  Responsible For The Liability Cycle
  
  * Reporting to the Corporate CFO
  * Lead the Accounts Payable Department, main contact for the Italian authorities of the ``Milk quotas'', and responsible for the preferred debt management. Responsible for the cash forecasting process
  
  Achievements
  * Together with external consultants defined and implemented all A/P procedures , from the supplier's order till payment
  * Together with IT dept implemented Accounts Payables reporting systems
  * Generated cash flow forecast, maintained accurate and timely cash flow projections and variance analysis
  * Defined strategies for the preferred debt reimbursement once the company exit the bankruptcy procedure

• Parmalat -  RESPONSABLE COMPTABILITE’ FOURNISSEUR ET DE LA DETTE

  Parme 2005 - 2005 Rattaché au Directeur Financière, responsable de la comptabilité fournisseur, du cash forecasting et de la gestion de la dette pendant la restructuration de la societé. Responsable des quota lait.
  Implantation et gestion des prévisions des trésoreries
   Avec un cabinet externe, implantation et definition des procedures des achats et fornissuers, (de la command jusq’a paiement de la facture )
   Mise en place du reporting fournisseur
   Restructuration de la dette
  

• Exide Technologies - European Treasury Director

  GENNEVILLIERS Cedex 2003 - 2004 Exide Technologies, Princeton NJ (USA); operations in 89 countries with net sales of USD 2.4 billion, one of the world's largest battery manufacturers. More than half of turnover is realized in Europe. In April 2002, Exide filed voluntary petition for relief under Chapter 11 of the US Bankruptcy Code and in May 2004, the company successfully exited from chapter 11
  
  European Treasury Director Paris
  
  * Reported to Corporate Treasurer in the USA and to European Vice President Finance
  * Lead treasury functions for all 12 European operations provided sources of funding, optimised liquidity management, defined and implemented policies and procedures for cash forecasting and foreign currency hedging
  * Managed working capital for European entities
  
  Achievements
  * Set up of European Treasury Centre; as all treasury activities were previously managed in USA
  * Enhanced role of Treasury Centre as in house bank for European operations and reference for DIP lenders
  * Initiated and developed reengineering of European cash management functions: established cross border cash pooling, inter-company netting system, and implemented a new Treasury Work Station
  * Implemented foreign currency hedging policies and procedures
  * Managed all aspects of European Asset Securitization Program: A/R file generation, weekly settlements
  * Managed Working Capital for European entities, improving DSO and DPO
  * Generated 13 weeks consolidated European cash flow forecasts, maintained accurate and timely cash flow projections
  * Supported US corporate treasury, while in Chapter 11, for requirements of banks funding the Group
  * Responsible for all European entities, in Exit Phase from Chapter 11: unwound debt instruments
  * Participated as the European counterpart in the USD 600M exit financing facility set up

• EXIDE TECHNOLOGIES - EUROPEAN TREASURY DIRECTOR

  GENNEVILLIERS Cedex 2003 - 2004 Rattaché au VP Treasurer aux USA, responsable de l’implantation et gestion de la fonction de la Trésorerie Europe, autour d’une équipe de 3 personnes.
   Création de la fonction Trésorerie Europe pour gérer la dette et la liquidité de manière centralisée.
   Mise en place de procédures et reportings pour les activités de trésorerie.
   Mise en place et gestion d’un TMS ( Treasury Management System) et du cash pooling internationale.
   Implantation et gestion des prévisions des trésoreries pour les sociétés opérationnelles en Europe.
  Mise en place et gestion d’un programme de titrisation.
   Restructuration de la dette interco entre les Sociétés européennes.
   Participation à la mise en place du USD 600 M « Exit Financing » lors de la sortie du Chapitre 11
  de la loi de la faillite USA

• Cerestar - Group Treasurer

  2001 - 2002 Cerestar, listed on Paris Stock Exchange, 1.7 billion Euros, European leader in starch and starch derivatives:13 production sites in Europe, 3 in USA and 1 in China
  * Reported to Chief Financial Officer
  * Set up, following de-merger, Treasury Department, centralised all treasury activities
  * Aided CFO in relations with Paris Stock Exchange , financial markets and rating agencies
  * Supervised process of integrating company treasury activities with Cargill in Cerestar take over
  
  Achievements
  * Set up Treasury Department for the new company, defined roles and responsibilities
  * Managed Belgian Coordination Centre as the in house bank for Group companies
  * Unwound existing credit facilities at Cargill take over
  * Worked with Cargill European Treasury Director to integrate Cerestar treasury activities with new shareholder

• CERESTAR - GROUP TREASURER

  2001 - 2002 Rattaché au Chief Financial Officer, responsable pour tous les aspects de trésorerie et financement des sociétés du Groupe Cerestar qui venait d’être créé.
   Création de la trésorerie de la nouvelle société, avec la mise en place des systèmes et procédures.
   Mise en place des crédits bancaires pour financer les BFR des sociétés.
   Restructuration de la dette au niveau Groupe avec réductions des frais financiers.
   Responsable pour les remboursements de certaines dettes quand Cerestar a été vendu à Cargill.
  

• ERIDANIA BEGHIN SAY - Responsable Financements et marches des capitaux

  1999 - 2001 Rattaché au Trésorier Groupe, Responsable au niveau mondial, des émission obligataires, des financements à long et moyen terme, et Trésorier des 7 sociétés italiennes du Groupe ( CA € 1,7 Milliard).
   Mise en place de crédits syndiqués, lignes bilatérales , d’un Credit Export Facility pour la construction d’une usine en Chine, des structures financières avec la EBRD dans le cas d’acquisitions des sociétés dans les pays de l’Europe de l’Est.
   Responsable du programme de EMTN (Euro Medium Term Notes) USD 500 M, pour émissions obligataires.
   Responsable pour le Groupe des relations avec les agences de notation, Moody’s and Standard & Poors.
  
  Pendant la scission en 4 sociétés de Eridania Beghin Say :
   Responsable du transfert d'une partie de la dette dans les nouvelles sociétés avec supervision de
  2 cabinets d’avocat pour les problématiques légales et remboursements de certaines émissions obligataires.
   Mise en place d’une ligne de crédit syndiqué de € 2,5 Milliard pour financer les nouvelles sociétés.
  

• Eridania Beghin Say - Manager Finance and Capital Markets

  1999 - 2001 Eridania Beghin Say, major worldwide processor of agricultural raw materials (cereals, oilseeds, olives, and sugar beets), turnover of USD 10.5 billion, 23,500 employees and 164 factories worldwide, quoted on Paris Stock Exchange. In June 2001, Eridania Beghin Say de-merged into 4 new companies listed on Paris Stock Exchange
  
  * Reported to Group Director of Treasury
  * Responsible for bond issues and worldwide financing requirements, defined strategies for cost effective group funding
  * Coordinated Treasury Activities for 7 Italian companies (turnover of USD 1.3 billion)
  * Main contact for rating agencies (Standard & Poor's, Moody's), financial institutions and the European Bank for Reconstruction and Development (EBRD)
  
  Achievements
  * Set up a 5 year EURO 400M multicurrency facility with a consortium of 10 Banks
  * Responsible for Group Euro Medium Term Notes (EMTN) USD 500 million program/issued structured and plain vanilla Bonds
  * Renegotiated committed credit facilities for USD 300 million
  * Acquired secured funding to finance working capital requirements for new companies in Eastern Europe
  * Secured funding for JV operation in China via credit export facility and local financing for working capital requirements
  * Centralised treasury activities in one location for all 7 Italian companies
  
  During Eridania Beghin Say de-merger process:
  * Responsible for allocation of Bank Debt, Bonds and EMTNs in 4 new companies
  * Participated in the rating process of the 4 new companies by Moody's and Standard & Poor's
  * Participated in set up of Euro 2.5 billion syndicated facility for the 4 new companies
  * Unwound debt instruments, repayment of syndicated loans
  * Coordinated work of 2 law firms for financing issues during de-merger process

• Fort James Corporation - European Treasurer

  1996 - 1998 Created in 1991, The Jamont Group is a joint venture between James River Corporation of Virginia, Ferruzzi / Montedison of Italy and Nokia of Finland. USD 1.5 billion sales operating in 12 countries, 9600 employees, 22 factories in Europe
  
  Fort James Corporation, Brussels
  In 1996, James River become sole shareholder of Jamont, and merged with Fort Howard; creating a major US and European player in tissue manufacturing with consolidated sales of USD 7 billion
  Achievements
  * Reported to Senior Vice President Treasurer - Fort James Corporation, USA
  * Responsible for all European Treasury activities
  * Participated in refinancing 5 year USD 300M multicurrency facility with consortium of 13 Banks
  * Developed consolidated financial plan harmonizing operating units plans with available financial resources
  * Participated in development and implementation of Group financial reporting system for US
  * Implemented a Treasury work station
  * Developed and initiated reengineering of European cash management function: established cross-border pooling with simplified local country cash management structures

• FORT JAMES CORPORATION - EUROPEAN TREASURER

  1991 - 1998 Rattaché au Senior Vice President Treasurer du Group aux USA. J’étais le contact permanent avec les trésoriers "pays" et/ou avec les contrôleurs financiers locaux avec une équipe de 2 personnes.
   Participation à la création de la structure de la Trésorerie européenne et mise en place du "cash
  pooling" et "netting" international, et centralisation de la gestion de la liquidité.
   Responsable de gestion des prêts/emprunts "cross border" intra groupe, de l'organisation, l'exécution et
  le suivi des opérations de couverture change et taux.
   La mise en place et la gestion du TMS (Treasury Management System) et du reporting de Tresorerie.
   Participation à la mise en place d’un crédit syndiqué de USD 300 M
  
  

• Jamont Group - Manager Finance

  1991 - 1996 * Joined Group at its beginning, reporting to the European Director Finance
  * Management of foreign subsidiaries treasury activities, local bank relations and managed foreign currency exposures

• Erbamont Group - Manager Business Planning

  1989 - 1990 Erbamont is listed on New York Stock Exchange - a healthcare holding company of Montedison in Stamford, Connecticut, USA with sales of US $ 1 billion in 20 countries in Europe, America and Asia
  * Reported to Vice President Strategic Planning, supervised the strategic planning process
  * Conducted analysis of competitor strategy and monitored competitive behaviour worldwide
  * Assessing financial prospects for Erbamont businesses in each key country and for each product line

• ERBAMONT (Montedison Group) - MANAGER BUSINESS PLANNING

  1989 - 1990 Rattaché au ” Vice President Strategic Planning”.
   Supervision du process de planification stratégique des différents business du groupe et analyse financière
  des sociétés concurrentes.
  

• Montedison Holding Company - Senior Internal Auditor

  1986 - 1989 * Lead financial and operational audits on European and South American subsidiaries

• MONTEDISON - SENIOR INTERNAL AUDITOR

  1985 - 1988 Audits opérationnels et financiers dans les filiales Européennes et Sud-Américaines.

• ARTHUR YOUNG & Co - Auditor

  1980 - 1984 Audit et certifications des comptes. Amélioration du contrôle de gestion et du contrôle interne

• Arthur Young & Co - Auditor

  1980 - 1985

Formations

• University Of Pescara ` Gabriele D'Annunzio' (Pescara)

  Pescara 1972 - 1980 University Degree in Business Administartion

Réseau

• Charles DEHEUL

• Christophe VIOLIN

• Ines HERBERTZ

• Nicolas AJACQUES

• Remy CECCONI

  Missions Cadres (Annemasse)

• Sophie PATARD

• Sylvie LEROY

• Valérie MAGNIER

• Vincent MATHIEU