Celia AdamsBSc FCA CTAMIFT

Eastham Court, Tenbury Wells, Worcestershire, WR15 8NW

Tel: 01584 781258 Fax: 01584 781244 Mobile: 07815 833892

Turnaround Website:

Personal Profile

A dynamic TURNAROUND FINANCE DIRECTOR with exceptional people skills and a recent track record in turnaround in SERVICE BASED SME’s including LOGISTICS .Qualified with Ernst and Young with turnaround in the private and public sectors including change management in blue-chip companies, AIM listed, SME’s. Mergers and acquisitions with VC funders. Proven leadership skills in multi-site operations. First rate in reporting financial data as well as a strategist with strong commercialbusiness.Used to rolling up sleeves and “doing”.

Qualifications /Memberships

Fellow of the Institute of Chartered Accountants in England and Wales FCA

Institute of Turnaround (member) MIFT

Associate of Chartered Institute of Taxation CTA

B Sc in Economics - University of Birmingham

Experience

Turnaround specialist to RBS currently assisting with turnaround plans for SME clients including importing companies

Turnaround FD of Companies in Distribution and Logistics

Turnaround FD in contact cleaning and catering.

Turnaround FD of cheese manufacturing plant.

Turnaround FD Amateur Football Club

Turnaround in the public sector NHS and in Central Government (regulator, grant awarder and parenting academy).

Trained Ernst and Young.

Turnaround Interim Director Positions 2005 to date

See Below

Reference for Turnaround

Tim Clarke Restructuring Director Royal Bank of Scotland Mobile 07774 975436

Permanent Positions

Turnaround Managing/Finance Director 1996 – July 2005

Taylors of Martley (TM Logistics Limited) National Logistics Company (£40m)

SOLD TO BIBBYS October 2010

A family company based in Worcestershire. 22 operating centres throughout the UK employing 400 people. Logistic contracts valued at £60 million (Rexam plc, Kingspan Insulations, Crown Food UK, Coca Cola, Plastic Omnium).

  • Headhunted by Bank to restore financial confidence and introduce robust financial systems. Restored Bank confidence within 10 weeks.
  • Drew up a rescue plan to identify key drivers to stabilise business. Formulated a strategic plan to return to required gearing ratios (80). Achieved within 3 years of appointment to sustain future growth 50% over 3 years and increase margin (8% increase).
  • Sustained a Strategic Plan to refocus the Business into new markets over a 5 year programme. Achieved 90% contractual backed business within 5 years (from a starting position of 10%).
  • Conducted all contract negotiations; all rate increases spearheaded all new business tenders and quotes including all contractual matters.

Turnaround Interim Director Positions 2005 to Date

Interim Finance DirectorAugust 2010 - January 2011

Becta (Closure of NDPB)

£198m NDPB/charity

Termination and close down of company

Interim Finance DirectorJuly 2009 to July 2010

Ofqual (Turnaround of Regulator out of QCA ..NDPB)

Part of £188m Qualifications and Curriculum authority (Ofqualvested April 2010).

  • Setting up financial systems, policies and procedures.
  • Procuring Financial, HR and payroll systems

Interim Finance Director December 2008 to July 2009

National Academy for Parenting Practitioners (Turnaround of a Charity) £40m NDPB/charity

  • Closing out and bringing to signature the contract between the Academy and King’s College London.
  • Working closely with King’s College London to set up monitoring information.

Interim Finance Director and Corporate Business Director July 2008 – November 2008

Worcester City Football Club(Turnaround of Football Club)

  • Assisting RBS (Tim Clark) with restructuring Worcester City Football Club including forward projections around the sale of the ground to Careys for £7m and the development of the new stadium by St Modwens for £3m.
  • Control of the finance department and relevant KPI’s

Interim Turnaround Finance Director October 2007 –June 2008

Capacitybuilders Limited

Non Departmental Public Body sponsored by Cabinet Office (previously Home Office).

•Designed “Fit for Purpose” project plan to strict deadlines. Implemented “Fit for Purpose” tasks overseen by Cabinet Office including grant award procedures: retrieval of grants issued to the incorrect grant recipients: robust system for tracking further returns from grant recipients.

Interim Turnaround Finance DirectorJune 2007 – September 2007

Central Provisions (Hereford) Limited

Chilled goods manufacturer and distributor – cheese products: Turnover £8m.

A turnaround of a cheese manufacturing factory in order to rise additional funding. The company continued trading and restructured its debts with RBS. Introduced by the chairman Turnaround Director Michael Tandy (previously partner of Ernst & Young) to establish true financial position of the company and act as a turnaround supporting the shareholders and directors.

• Lack of accurate management accounts as figures had been manipulated for stock holdings.

• Creditors pressing for more than the 60 days that the previous management had secured.

• To renegotiate the lending package based on accurate forecasts in a time of rising commodity prices.

• To ensure the chairman and directors were not trading insolvently.

Finance Director August 2006 – February 2007 and Nov 2005 - March 2006

Insuretech Limited Start up company

Start up Financial Services projecting launching a web based consumer site cheapercover.com.

  • Negotiations with investors to raise third party funds both for the project and for subsequent sale of shares in the company to Fortis plc (a major Insurance Company ).£6 million voted to marketing set up by Fortis Bank( Europe)
  • Developed Business Plan and compelling Business case in an entrepreneurial venture with a Serial Entrepreneur.

Interim Finance Director/Deputy CEO April 2006 –August2006

Quality Improvement Agency NDPB £90m 2006/07

Non-Departmental Public Body (NDPB) (£90m) delivering an improvement strategy to the Further Education (FE) sector.

  • Delivered the closure of LSDA (transferring agency) including staff redundancies, completion of final accounts, and resolution of Pension Fund and exit arrangements in line with the Lyons Commission with relocation to Coventry including the assignment of 10k square ft of Crown premises off Oxford Circus.

Interim Finance Director/Deputy CEO August 2005–November 2005

Supporta plc AIM Listed Company (£60m)

An acquisitive company looking to expand from £30m to £200m in outsourced white collar and property services to the NHS and other parts of the public sector.

  • Responsible for financial reporting to the London Stock Exchange and all reporting requirements of the Alternative Investment Market (AIM).
  • Project leader on the relocation of the head office from Ascot to Warwick involving full consultation for 12 finance staff and recruitment of replacement staff including Financial Controller to strict project plan.

Earlier Career

Finance Director

CSFM Holdings plc National Services Company(£42m)

An entrepreneurial firm created from a £25 initial contract in industrial cleaning, expanding into other areas of facilities management. Managed over 3,000 contracts across the UK with 6 regional centres employing 6,000 people. Directors motivated by earn out options. Taken to point of sale in 1996.

  • Analysed key financial performance indicators, developing a strategy to focus on providing a quality service to retain competitive advantage company growing turnover 25% year on year and restoring margin to 10%.
  • Managed working capital requirements in a period of dramatic growth, improving cash collection, invoicing patterns and reducing debtors by £0.5m in three month period.

Turnaround Finance Director

UniversityHospitalBirmingham(UHB)NHSFoundationTrust NHS Acute Trust (£180m)

  • Played a significant part in the restructuring of the trust(s) in South Birmingham at a time of significant financial disarray by inspirational leadership of departments demoralised by a number of mergers.
  • Inherited a department with 180 people where morale was low and little job focus. The financial controller who had underperformed was offered an exit route prior to engagement. Complete restructuring of the finance department to bring in new staff and recruited six key new managers.

Finance Director

Reed Elsevier plc Publishing Company Subsidiary (£110m)

Exhibition Company created by the merger in the UK of Carners (US) and the UK base. Expanded by acquisition into Europe including the Midem Group organising the Cannes Film Exhibition. Employed 120 people across sites in Birmingham and Richmond Surrey.

  • Inherited a department that was malfunctioning and recruited replacement Financial Controller, credit controller, management accountants and finance managers to work across the exhibition groups. Turned this dysfunctional department into a highly motivated well oiled engine.

Finance Director

Aviva plc (prev. General Accident)Insurance Company Subsidiary (£50m)

Network of 80 Estate Agencies (750 staff) throughout the Midlands with affiliated activities in auctioneering (Turnover £80m in gross fees) with a mixed portfolio of professional clientele.

  • Developed a finance function with a recruitment of qualified accountants as financial controllers/ management accountants, finance managers.