Robert Boucher, CPA CA
Kitchener
Summary
High-energy, performance driven financial & operational leader with focus on profitable growth and continuous improvement. Hands-on leader with proven ability to motivate team to achieve collective goals in a fast-paced business environment. Trusted business partner providing data driven analysis and valued added opinions.
Overview
21
21
years of professional experience
Work History
VP Finance & Head of Beltone Brand
GN Hearing Care Canada Ltd.
2020.03 - Current
- In 2023, lead total Canadian business to be the #1 performing country within GN Hearing's global business as measured by Revenue, EBITA and Free Cash Flow growth. Grew Revenue by 24% (market 9.6%) , EBITA by 186% and more than doubling cash conversion
- In 2023, completed multi-year restructuring of Beltone business resulting in organic growth of 2X market with consolidated EBITA growth of 47%. Involved restructuring unprofitable Retail business through negotiating long-term supply terms with industry leading retail operators
- Full financial oversight over manufacturing and distribution business with approx 100 employees and revenues of approx $40M
- Oversight of local finance department with Finance Manager and five Canadian employees working closely with shared service functions in US
- Oversight of M&A, treasury and cash management
VP Finance
Beltone USA
2017.01 - 2020.03
- Financial leader of hearing technology organization with USD 150 million in annual revenue
- Oversight of Financial, Planning & Analysis for wholesale distribution and retail sales channels
- Key member in organizations strategic goal setting process, working cross functionally to create cohesive three-year plan. Responsible for implementing KPIs to measure performance against strategic objectives
- Lead Finance organization of 12 employees supporting 250+ corporate owned retail hearing clinics as well as wholesale distribution to 1500 dealer owned hearing clinics across US and Canada
- Significantly improved financial transparency of retail business, including store level P&L and KPI analysis tool to provide retail operations and management team actionable insights into factors affecting profitability
- Implemented significant improvements to FP&A process, streamlining budget and monthly outlook process. Created action-based analysis process to investigate variances and collaborate with business partners to understand implications
- Lead budget presentations to Parent company CEO and CFO, successfully securing operating mandate aligned with strategic objectives
- Oversight of M&A activities, including deal negotiation for retail acquisitions, divestitures, financial support arrangements and joint venture arrangements related to hearing clinics
- External audit coordination and oversight
Chief Financial Officer - Canada
Siemens Hearing Canada (now WS Audiology)
2008.05 - 2016.11
- Supported sales organization with top-line compound annual growth rate of 13.4%
- Working with CEO, implemented measures to significantly improve profitability by optimizing product mix which increased average selling price, leading to 5.3% improvement in gross margin
- Lead Canadian carve-out from Siemens including due diligence, in-sourcing of treasury, payroll and financial reporting functions and external audit co-ordination
- Revamped budgeting & forecasting procedures, significantly improving both top-line and bottom-line accuracy
- Oversaw implementation of various business systems, including reporting and consolidation tool, treasury system, travel expense tool, business intelligence tool to provide full financial transparency of profitability at both product and customer level
- Implemented policies & procedures to better control costs, improving bottom-line
- Revamped sales rep compensation structure to align with company objectives
- Decreased DSO from 95 days to 68 days by overseeing the implementation of tighter credit procedures
- Ensured financial controls maintained during consolidation of supply chain in the US and China
- Analyzed and implemented long-term strategic business development opportunities including analysis of IRR, NPV, FCF and credit worthiness of business partners
- Full oversight of accounting, controlling, collections, accounts payable and IT
Audit Manager
PwC
2002.09 - 2008.05
- Starting from an Associated, worked my way up to Audit Manager after 4 years
- Managed financial statement audit teams of 2-8 people of both public and private companies in the healthcare, technology, automotive, manufacturing, and agriculture industries
- International experience on secondments to the United States and Russia
- Variety of specialized reporting requirements under IFRS and US GAAP
- Managed audits of a variety of not-for-profit organizations and registered pension plans
- Managed integrated audits with focus on Sarbanes-Oxley internal control programs for SEC and TSX registrants
- Lead recruitment for Waterloo office (2007)
- Financial statement audits of both public and private companies in financial services, real estate, healthcare, automotive, manufacturing and agriculture industries
- Secondment to Advisory group where I was responsible for implementing Sarbanes Oxley internal control program for Management of a healthcare REIT
Education
Executive Education Program - High-Impact Selling
Nortwestern Kellogg School of Management
Evanston, IL03.2020
CPA CA -
Chartered Professional Accountants
Ontario01.2006
BACS - Finance & Accounting
Western University
London, ON06.2002
Skills
- Strategic Planning
- P&L Performance Management
- Financial Planning & Analysis
- Team Leadership
- Process Improvement
- Risk Management
Recent Volunteer Experience
- Board Member of Hearing Industry Association of Canada (Dec 2022 - Present)
- Kitchener Minor Soccer Coach U11 (2022)
- Kitchener Jr. Rangers U11 Hockey Team Treasurer (2021/22)
- Highland Park (IL) AYSO Youth Soccer Coach (2018)
Timeline
VP Finance & Head of Beltone Brand
GN Hearing Care Canada Ltd.
2020.03 - Current
VP Finance
Beltone USA
2017.01 - 2020.03
Chief Financial Officer - Canada
Siemens Hearing Canada (now WS Audiology)
2008.05 - 2016.11
Audit Manager
PwC
2002.09 - 2008.05
Executive Education Program - High-Impact Selling
Nortwestern Kellogg School of Management
CPA CA -
Chartered Professional Accountants
BACS - Finance & Accounting
Western University
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