Khalid T. Kittani _ CMA


Mobile +966 505 67 1977 | email: | Jordanian Nationality | born on 1963

Target: Chief Financial Officer (CFO) - Location is flexible

Key Highlights Summary:

CFO– 2011 to present

Mohammad Yousef Naghi Group- Transportation Sector (Hafil) CFO

-MYN Group is one of largest (multibillion USD) and most reputable privately owned Groups in KSA.

-Hafil Group is a Nationwide Transportation; covering multiple segments of the Saudi Transport market (Schools; City Bus; Private; Labor; Airport; Hajj& Umra; Limousine &Taxi). By far largest in Sector & one of largest in the world Over 11,000 buses & other vehicles plus subcontractors in addition over than 8000 employees covering 20 nationalities .

-Nationwide Repair & Maintenancecapabilities: Hafil has excellent and sophisticated implemented service workshops and spare parts warehouse network across KSA

CFO– 2007 to 2010

Zahran Group

Leading group in KSA in the field of Operation and Maintenance, Real Estate (Investment &Development),Contracting, Home appliances Trading, Manufacturing, Out Door Media, Logistic Services, Travel &Tourism. With more than 12 Subsidiaries.

Total assets <USD 2 Billion, with more than 20,000employees.

The group holds one of top 100 companies in KSA.

CFO–2003to2007

Dar AL Arkan- Saudi Public Listed Company with paid in capital >USD 2.5 billion

Largest in KSA market covering Real Estate Investment & Development, Constructions and Building materials.

Finance Director – 1999 to 2003

Jamjoom General Agencies

FMCG Business with multiple segments in(Whole Sale, Retail; B2B;& Logistics). Agent for multinational brands.

Finance Manager – 1992 to 1998 - El Concord for Construction, Electro Mechanical & Engineering Contracting

External Auditor –1985 to 1991 - Sha’er & Co. (Certified public accountants)

Education

  • Bachelor of Commerce - Major: Accounting-Yarmouk University , 1985
  • Bachelor of Science of management - Al – Quds University,2006

Profession Certificates

  • C M A ( Certified Management Accountant ), Dec. 2006
  • C B A ( Certified Business Administrator ), May 2005
  • C F C (Certified Financial Consultant ) , Feb 2005
  • CPA Intensive review course in the following subjects, 2001 :( financial accounting and reporting, auditing, accounting and reporting & business law).

EXECUTIVE SYNOPSIS

  • Qualified Group CFO & Result-oriented leader with experience in Big 4 Audit Firm; Public Listed Co.’s & Family Group/Holding Co.(Operation and Maintenance ;Real Estate ;Contracting ;Transportation ;Manufacturing ;FMCG ; food/non-food retail;B2B;Engineering &infrastructure; Logistics and Services) .
  • A strong decisive organized and highly motivated and proactive individual who has strong leadership skills to report through motivational means and to ensure the development and efficiency of staff. With superior process and operational improvement talents.
  • Specialties : CFO ; GM ,of Multi-location org; strategic planning; change mgmt; IPO; private equity; Mergers & Acquisition; finance (NWC; Capex; Project; debt restructuring); governance setup; risk mgmt; balanced scorecard and KPI’s ; shared services; IT; reporting; controlling; Legal restructuring.
  • Adept at working in high pressure environments with strict deadlines & multiple deliverables to implement best practices that consistently deliver outstanding results.
  • Startup; Growth; Mature; Turnaround; Acquisition; Investors’ representative on Boards; mentor to son of Chairman and other Director’s in a family owned firm .
  • Drive the Budgeting & Balanced Scorecard processes (including development as required). Ensure that these processes are used as key tools and progress measuring barometers to support business performance.

Professional Achievement/Accomplishments

Mohammad Yousef Naghi Group- Transportation Sector CFO (Hafil) - 2011to present

Key Accomplishments:

  • With Chairman’s Support, key driver of culture & organization change to transform the Sector from owner centric to Corporatized Family Business organized around separate BU’s with multi locations each with clear roles, strategies, KPI’s and targets contributing to overall Group Goals.
  • Overall Goals: Sustained shareholders value growth; risk management; separation of management from ownership. Which includes: process revamp; legal, capital structure, establishing Planning; Budgeting & Regular Business Review disciplines; restructuring Finance departments Group wide to become "right hands" to respective Unit GMs.
  • As Chairman's "right hand", helped individual BU’s to profitably meet business opportunities with focus on converting top line expansion into sustainable shareholder value growth
  • Successfully Implemented ORACLE ERP from ‘Selection’ to ‘Go-live’. I.e. Finance, HR, Operation, R&M, SC.
  • Review, improve and implement the Regional finance structure (including IT Structure and applicable software) and business processes. i.e. 6 BU’s with 5 regions and multi locations. Including year-end final closing / External Auditor report and Tax& Zakkat / MOCI filing and reporting process.
  • Costing and pricing Repair &Maintenance: As the Fleet maintenance is significantly impacts the Sector operating cost, turn over and sustainability. In my capacity as CFO, my role is to ensure a safe, effective and productive maintenance will be carried under certain operating expenses target by location; department; outsourcer; insourcer ; unit ; etc. A bench marking with prior years in terms of operating expenses and timing is carried out and discussed with operation and Supply Chain Directors. Also play key role in inventory control (mostly spare parts) as well as Asset Register (mainly buses plus tools / equipment) by ensuring that investment in inventory is made to the optimum level and ensuring that safety critical inventory items are available; put inventory control processes; put policies to reduce lead time and minimize safety stock .
  • Efficiently leaded the project of Group Legal Restructuring with all of its implications from planning to Execution stag.
  • Maintaining an excellent working relationship with key internal and external stakeholders including financial institutions, lawyers, external auditors, and regulatory bodies to help complete important process, exchange information, and assist in critical decision making

Zahran Group CFO– 2007 to 2010

Key Accomplishments:

  • Private Placement Arrangement: preparing all financial and non-financial due diligence information’s related to Private Placement File for one Real Estate subsidiary. >USD 1 billion
  • Credit Bank Facilities: Initiate, manage and arrange all Group banking relationships and facilities (>USD 600 M) at a minimum cost.
  • Drive Budgets and Balance Score Cards: To insure an efficient management style, continuously I set an achievable and measurable plan in coordination with the Group leadership team; communicate the plan with team and set KPI’s agreed with Management to measure performance and efficiency.
  • Implementation of financial policies, systems (Oracle ERP), procedures and controls for the Group & reviewed them periodically to ensure continuing relevance and compliance
  • As Board member for some of Group listed Investment CO.’s outside KSA, Representing the Group in all Board meetings, review and vote on related strategic mergers & acquisitions, financials affairs or decisions.
  • Inventory Control and valuation: As head of Finance, I played important role in managing inventory, through set of activities: Ensure that investment in inventory is made to the optimum level and ensuring that safety critical inventory items are available, reduce the lead-time and minimize the safety stock.
  • Build internal financial competence with the finance team to progressively up-skill the finance team and promote a broader focus on financial and business analytics.

Dar AL Arkan CFO-2003 to 2007

Key Accomplishments:

  • Successfully handled IPO arrangement of >USD 1.3 billion & listing of securities in stock exchanges.
  • Actively participation in executive committees and board of directors meetings to review and follow up the performance of future strategic plans and decisions related to group growth and progress.
  • Financial, Strategic &Investment Planning : Timely / reliably management reports with Executive Summary and risk mitigation pack showing key performance indicators, Balance Score Card, trends, comments in budget variations, relevant outside information, risks and areas that require management attention
  • Debt restructuring resulting in financial cost savings of 20 % as part of my accountability of Companywide cash flow forecast and facility headroom schedule in order to regularly monitor Business funding requirements and mitigate the credit risk and liquidity risk
  • Training Finance & Accounting Staff: The Group finance organization is about 70 individuals with 7 direct reporting line to me. I keep promoting positive leadership and listing skills. Arrange quarterly “People “meeting with deferent team members for training, and development gaps as per set of standard competences agreed by the company.

Jamjoom General Agencies Finance Director – 1999 to 2003

Key Accomplishments:

  • Financial Reporting : review and sign off on monthly actual and quarterly reporting actual and forecast (Quarter Analytical Review ); Full accountability of and ownership of compliance of Balance Sheet accounts integrity ;Monitor performance for in-year target delivery as well as long term (5 years plan) including rigorous reporting assurance.
  • Supply Chain Management’s is reporting dotted line to FD , I executed a centralization plan for Purchasing Department which resulted in Cost reduction, Stronger control, Faster communication, and Time saving.
  • Mitigate operational risk through effective lead the process ofnationwide ERP system from evaluation, gap analysis, and implementation and go live. Resulting in better internal control, timely and reliably management reporting system. i.e. Actual vs. Budget, Forecast and Business Plan consolidated and for 5BU’s with multi locations, Including year-end final closing / External Auditor report and Tax& Zakkat filing process.
  • Process improvement lead to cost reduction and Gross Margin improvement of 13% by keepproviding financial advice / initiatives to the management in the negotiation of contractual agreements.