Joseph DeGroot
Director Of Finance And Operations
London,ON
Summary
Accomplished leader with extensive experience driving financial and operational excellence in the cannabis industry. Proven track record of transforming businesses through strategic planning, revenue growth, and operational efficiency. Successfully managed critical financial restructuring processes, including securing multi-million-dollar loans and navigating CCAA proceedings. Skilled in aligning cross-functional teams, optimizing supply chains, and achieving regulatory milestones such as EU GMP compliance. Adept at leveraging data-driven strategies to streamline processes, reduce costs, and exceed performance targets. A trusted advisor to executives and stakeholders, with a commitment to fostering sustainable growth and innovation.
Overview
6
6
years of professional experience
6
6
years of post-secondary education
1
1
Language
Work History
Director of Operations
Natural MedCo Ltd
10.2022 - Current
- Oversaw production, logistics, supply chain, and sales operations, achieving EUGMP compliance and driving revenue growth from $3M pre-restructuring to $15M in the first year and $25M in the second year post-CCAA restructuring.
- Led all sales efforts directly, managing customer relationships, aligning operations with demand, and expanding into international markets through EUGMP certification.
- Managed a cross-functional team of 4, implementing KPIs and improving productivity by 5% annually through operational and sales strategy alignment.
- Developed all forecasting, P&L budgets, and sales tracking tools in Excel, successfully navigating a volatile procurement market and shifting customer demands.
Director of Finance
Natural MedCo Ltd
01.2023 - Current
- Led all financial operations during critical periods, including CCAA restructuring, securing a $20.6M restructuring loan to stabilize the company.
- Managed financial reporting, budgeting, and forecasting, aligning finance strategies with operational and sales goals to drive post-restructuring revenue growth from $3M to $25M annually.
- Prepared financial reports and analyses for lenders and stakeholders, while ensuring compliance with Health Canada and EU GMP regulatory standards.
- Streamlined financial processes by automating reconciliations and improving monthly close timelines to 5 business days, enhancing reporting accuracy and operational efficiency.
Facility Manager
Natural MedCo Ltd
03.2020 - Current
- Led a team of two maintenance professionals, ensuring the facility remained EU GMP compliant through regular inspections and adherence to quality standards.
- Strategized with contractors to manage repairs and expansion projects, delivering results on time and within budget.
- Developed and managed budgets and cost controls for facility improvements, optimizing resource allocation and reducing project expenses.
- Conducted research and implemented strategies to enhance facility operations, driving efficiency and long-term sustainability.
Board of Director
M4 Group Holdings
02.2023 - Current
- Provided strategic oversight on property acquisitions, tenant relationships, and financial performance to drive company growth.
- Collaborated with executives to improve occupancy rates and optimize ROI on commercial rental properties.
- Contributed to the development of operational strategies and governance practices, ensuring compliance and long-term sustainability.
- Participated in financial performance reviews and provided recommendations to enhance budgeting and reporting processes.
Financial Controller
Natural MedCo Ltd
03.2020 - 01.2023
- Managed financial reporting, including SEDAR filings, and streamlined monthly close procedures to 5 business days.
- Developed budgets and financial strategies to secure an $18.7M loan for expansion and later assisted in obtaining an additional $20.6M loan during the CCAA restructuring process.
- Oversaw cashflow management, creditor negotiations, and cross-departmental collaboration to stabilize operations and ensure compliance during restructuring.
- Led a team of two accounting professionals, maintaining accurate records and supporting strategic decision-making for the board and executives.
Operations Manager
Natural MedCo Ltd
05.2019 - 10.2022
- Managed cultivation, production, and supply chain operations, achieving a 30% cost reduction and increasing production capacity by 300%.
- Led a team of 5 managers across key departments, implementing strategies that reduced labor requirements by 20% and improved operational efficiency.
- Successfully guided the facility to EU GMP approval and revamped inventory systems to automate regulatory filings, cutting overstock by 50%.
- Collaborated with finance and sales teams to align production with sales demands, increasing monthly revenue from $100K to $500K
Operational and Financial Analyst
Natural MedCo Ltd
01.2019 - 05.2019
- Analyzed cultivation and production metrics, optimizing workflows, improving potency targets, and identifying areas for operational improvement.
- Developed cost structures and KPIs, aligning grow, sales, and wholesale pricing strategies with profitability goals and excise tax requirements.
- Implemented inventory controls to ensure Health Canada compliance and created reporting systems that provided actionable insights to leadership.
- Leveraged BioTrack and custom Excel models to track and report operational and financial performance, driving data-informed decisions.
General Accountant
Natural MedCo Ltd
10.2018 - 01.2019
- Managed accounts receivable and payable, cashflow forecasting, and budgeting, ensuring IFRS compliance and operational liquidity.
- Led the transition to a publicly traded company, converting accounting policies, preparing financial statements, and supporting audit processes.
- Developed and implemented inventory valuation models and established the company’s excise tax division, streamlining compliance and tax remittance.
- Collaborated with cross-functional teams to align financial reporting with operational metrics, improving controls and decision-making.
Education
Bachelor of Science - Honours Mathematics & Statistics
McMaster University
Hamilton, ON 09.2014 - 12.2020
Skills
Strategic Visioning
Timeline
Board of Director
M4 Group Holdings
02.2023 - Current
Director of Finance
Natural MedCo Ltd
01.2023 - Current
Director of Operations
Natural MedCo Ltd
10.2022 - Current
Facility Manager
Natural MedCo Ltd
03.2020 - Current
Financial Controller
Natural MedCo Ltd
03.2020 - 01.2023
Operations Manager
Natural MedCo Ltd
05.2019 - 10.2022
Operational and Financial Analyst
Natural MedCo Ltd
01.2019 - 05.2019
General Accountant
Natural MedCo Ltd
10.2018 - 01.2019
Bachelor of Science - Honours Mathematics & Statistics
McMaster University
09.2014 - 12.2020
Similar Profiles
Courtney FergusonCourtney Ferguson
Eligiblilty Representive/Prior Authorization Representative at Accredo Health, Inc, A MedcoEligiblilty Representive/Prior Authorization Representative at Accredo Health, Inc, A Medco
Worawat SrisuwanWorawat Srisuwan
Electrical Engineer at Medco Energi Thailand (Offshore Bualuang Platform)Electrical Engineer at Medco Energi Thailand (Offshore Bualuang Platform)
Colin O'RourkeColin O'Rourke
Team Member at Medco ToolsTeam Member at Medco Tools