Zumtobel Group

The Client:
The Zumtobel Group is one of the leading players in the lighting industry having a global distribution network. With 5,800 employees, the group generates a turnover of around € 1,100 million.

The Project (Rent-a-CFO): Major changes in Zumtobel’s executive board combined with market-driven and organisational challenges made it necessary to restructure the group. Management Factory took over the CFO function in 2018 and was instrumental in setting up and implementing the reorganisation program.

Highlights:

  • A strong basis of trust was soon established with the key stakeholders
  •  Streamling and transforming the finance organisation to a performance driven unit with a strong teamspirit
  • Quick turn.around after 2 consecutive years of lossmaking despite significant adverse effects of Covid19 pandemic: reduction of overhead costs by 14%, reduction of total assets by 10%, significant increase of free cashflow to € 100 million, reduction of net debt/ EBITDA ratio from 2.7 to < 0.9 within 3 years
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