Lin Yang
Palo Alto ,California
Summary
A strategic and results driven treasury executive with 20+ years of experience in multinational corporations. Expertise in capital structure optimization, financial risk management, cash flow forecasting and operational transformation. Proven track record of driving liquidity strategies, managing debt portfolios, and enhancing shareholder value. Known for building high-performing teams, implementing innovative treasury technologies, and navigating complex financial environments. Adept at fostering cross-functional partnerships and aligning financial strategies with organizational goals.
Overview
22
22
years of professional experience
1
1
Language
Work History
Vice President, Capital Markets, Treasury
WBA (Walgreens Boots Alliance)
07.2022 - Current
- Company Overview: WBA is a global leader in retail pharmacy and healthcare with ~$140B revenue and ~330,000 employees worldwide
- Spearhead capital markets strategy, including capital allocation, capital structure, financing and financial risk management
- Executed $750M senior unsecured bonds, $2B term loans and $3B revolver
- Managing relationships with rating agencies and financial institutions
- Managing sale of publicly traded equity stakes; implemented innovative variable prepaid forward to preserve EPS and participate in stock price appreciation
- Developed playbook for self-syndicated revolver and term loans, achieving optimal pricing and avoiding arranger fees
- Deployed prudent funding strategy to minimize financial impact from credit ratings downgrade
- Implemented net investment hedging and open market bond repurchases to generate incremental earnings
- Foster strong cross functional partnership to drive company strategies
- Managing cash flow forecast and liquidity planning
- Responsible for all treasury related materials for Board of Directors
- WBA is a global leader in retail pharmacy and healthcare with ~$140B revenue and ~330,000 employees worldwide
Senior Director, Assistant Treasurer
VMware
09.2019 - 07.2022
- Company Overview: VMware was a leading provider of multi-cloud enterprise software and services, with ~$13B revenue and ~38,000 employees globally
- It has been acquired by Broadcom
- Responsible for capital structure, financing strategies and debt issuances, FX and interest risk management, investments, share repurchase, cash flow and liquidity planning, and insurance risk management
- Managed relationships with rating agencies and financial institutions
- Raised $10B in bonds and term loans to fund the spin-off from Dell
- Oversaw establishment of the company’s first cash pool
- Maintaining debt compliance and monitoring rating agencies metrics
- Leading treasury function to support M&A
- Championing team’s development by implementing internal job rotations
- Driving implementation of technologies to improve operational efficiency
- Leading treasury efforts in support of corporate sustainability goals
- VMware was a leading provider of multi-cloud enterprise software and services, with ~$13B revenue and ~38,000 employees globally
- It has been acquired by Broadcom
Treasury Director, Debt Capital Markets
Dell Technologies
07.2017 - 08.2019
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Managed structured finance programs to fund $9.8B managed assets for Dell Financial Services (DFS), including Asset Backed Securitization (ABS) conduits and term bond issuances
- Led fixed income investor relationships for ABS bonds
- Participated in refinancing of corporate credit facilities and bonds
- Optimized funding structures for DFS international entities
- Managed debt compliance for all of Dell’s $50B+ debt
- Asset liability management and interest rate risk management
- Drove diversification of working capital financing program
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Treasury Director, Financial Risk Management
Dell Technologies
06.2013 - 07.2017
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Responsible for hedging Dell’s foreign currency cash flow and balance sheet exposure; annual trading volume $120B+
- Presented quarterly updates on FX hedging activities and recommendations for hedging strategies to CFO
- Prepared forecasts and reporting for foreign exchange related P&L and balance sheet items
- Achieved better hedging results than peer companies, measured by gain/losses as a percentage of foreign revenue
- Drove interest rate risk management strategies including pre-issuance hedging and fixed floating mix targeting
- Integration of EMC financial risk management and optimized the combined hedging program
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Treasury Director, Americas Operations
Dell Technologies
09.2011 - 06.2013
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Cash management for Americas including bank account management, cash positioning and cash flow forecast
- Treasury operations program manager of Dell’s go-private transaction
- Managed M&A activities for treasury, including due diligence, funding and treasury integration
- Managed intercompany lending in Americas region
- Led global trade finance programs and credit insurance
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Treasury Senior Manager, Debt and Capital Markets, Treasury
Dell Technologies
11.2010 - 09.2011
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Supported Dell Financial Services borrowing structure/funding strategy to ensure liquidity and competitive funding costs
- Responsible for Dell Financial Services cash flow and cost of funds forecast
- Managed refinance of asset backed securitization facilities, including compiling specific portfolio statistical information, providing ad-hoc reporting and analysis, and modeling the impact of revised terms and conditions regarding cost and liquidity
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Treasury Senior Consultant, Corporate Finance & Liquidity, Treasury
Dell Technologies
05.2009 - 10.2010
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Drove total Dell short-term and long-term cash flow forecast process and communicated to senior management
- Provided analysis to facilitate rating agency discussions, enabling expansion of $3B debt capacity
- Developed analysis and presentations on capital allocation strategies
- Managed Working Capital Council process and business unit cash flow reporting
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Treasury Senior Consultant, Americas Treasury Operations, Treasury
Dell Technologies
03.2007 - 05.2009
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Set up intercompany management framework and partnered with Tax and Legal to resolve transfer pricing issues
- Participated new business unit launches as Treasury lead; responsibilities include RFP banking, designing bank account structure, defining accounts receivable and accounts payable processes, cash flow forecast and managing funding using inter-company loans or capital injections
- Cash flow and liquidity management
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Finance Consultant, Strategic Planning, Corporate Planning
Dell Technologies
02.2006 - 03.2007
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Drove Dell’s Three-Year Planning process at corporate level by working cross-functionally with Regions, Product Group and various functions in finance, marketing and operations
- Drove analysis around strategic initiatives including product mix, margin trends, and productivity comparisons
- Coordinated presentations for the senior leadership including CEO, CFO and CAO
- Financial modeling, market sizing and competitive position analysis
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Finance Consultant, Structural Material Commodity FPA, Worldwide Procurement Finance
Dell Technologies
10.2004 - 02.2006
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Supported/Managed PCBA/Mechanicals Commodity Cost Forecast Process
- Managed/Improved PCBA/Mechanicals vendor funding process – developed training for Ops team and got Ops’ buy-in, worked with Ops team to renegotiate payment terms to reduce quarter end outstanding balance, streamlined process resulting in less purchase price variances, no write-off and on-time payments
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Finance Advisor, OPEX, Worldwide Procurement Finance
Dell Technologies
06.2003 - 10.2004
- Company Overview: Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
- Led the Worldwide Procurement Forecast Process designed to ensure WWP’s OPEX scaling
- Developed monthly budget reporting package designed to level-set chief procurement officer staff on the overall spend to budget
- Led quarterly budget interlock process designed to ensure proper cross-organizational alignment
- Dell is a leading technology company offering a diverse portfolio of IT products and services, with ~$90B revenue and ~133,000 employees worldwide
Education
Master of Business Administration (MBA) - Finance
Texas A&M University
Bachelor of Engineering - International Business
Shanghai Jiao Tong University
Skills
- FIS (SunGard) Quantum
- Trax
- IT2
- Reval
- GTreasury
- Bloomberg
- Fxall
- Hyperion
- SAP
Timeline
Vice President, Capital Markets, Treasury
WBA (Walgreens Boots Alliance)
07.2022 - Current
Senior Director, Assistant Treasurer
VMware
09.2019 - 07.2022
Treasury Director, Debt Capital Markets
Dell Technologies
07.2017 - 08.2019
Treasury Director, Financial Risk Management
Dell Technologies
06.2013 - 07.2017
Treasury Director, Americas Operations
Dell Technologies
09.2011 - 06.2013
Treasury Senior Manager, Debt and Capital Markets, Treasury
Dell Technologies
11.2010 - 09.2011
Treasury Senior Consultant, Corporate Finance & Liquidity, Treasury
Dell Technologies
05.2009 - 10.2010
Treasury Senior Consultant, Americas Treasury Operations, Treasury
Dell Technologies
03.2007 - 05.2009
Finance Consultant, Strategic Planning, Corporate Planning
Dell Technologies
02.2006 - 03.2007
Finance Consultant, Structural Material Commodity FPA, Worldwide Procurement Finance
Dell Technologies
10.2004 - 02.2006
Finance Advisor, OPEX, Worldwide Procurement Finance
Dell Technologies
06.2003 - 10.2004
Bachelor of Engineering - International Business
Shanghai Jiao Tong University
Master of Business Administration (MBA) - Finance
Texas A&M University
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