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Case Study

CFO and CRO Role at Global​ German Automotive Supplier​

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Restructuring, financing and crisis management secure stability for leading alloy wheel manufacture

An interim CFO took on CRO responsibilities at a leading automotive supplier. Through financial restructuring, insolvency proceedings and strategic realignment of the subsidiaries, the financing, liquidity and stability of the globally active company were successfully secured.

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Company Details

  • World leading German manufacturer of light alloy wheels
  • Turnover of approx. €1.2b
  • Plants mainly in Europe and Africa
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Situation and Challenge​

  • Interim CFO initially intended as a bridging solution
  • Due to new crises (impact of the coronavirus crisis and the war in Ukraine on supply chains, exorbitant increase in energy costs, insolvency of a plant), the CFO position has increasingly become a CRO/restructuring position.
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Objective and Tasks

  • Restructuring of the financing structure through intensive discussions with banks, switch to matched maturity financing and introduction of new financing structures
  • Realignment of subsidiaries
  • Handle all day-to-day operations, including monthly and annual financial statements
  • Advising the shareholder
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Objective and Tasks

  • Communicating with banks/ trade credit insurances, setting up factoring
  • Securing cash in the form of new bank loans
  • Operational handling of plant insolvency and support of OEMs/suppliers in insolvency proceedings
  • Reorientation of tax concepts and support during tax audits
  • Suport in the selection of a new Group CFO
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Results and Achievements

  • Implementation of new financing structures and approaches
  • Timely preparation of special bank reports, long-term planning and annual and consolidated financial statements
  • Secured financing from banks and trade credit insurances
  • Training of the operational successor as Group CFO
  • Successful handling of insolvency