Queens University of Belfast

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Queens University of Belfast

• Presentation
• Stephen Kingon
• 26 November 2007

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Synopsis

• Career Highlights

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Career Highlights
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Career HighlightsTwin Approach

• Working with clients in developing their
  strategies and assisting in developing their
  businesses
• Planning and controlling the development of own
  business

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Career Highlights

• PricewaterhouseCoopers is the largest
  professional services firm in the world providing
  a range of services
• Assurance
• Tax
• Advisory
• Provided services to 85 of Fortune Global 500
• Employs 140,000 people worldwide
• Global network
• 771 cities
• 149 countries
• Global fee income in excess of 25 billion

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Synopsis

• Career Highlights
• Case Studies Client Experience

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Case Studies Client Experience
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Case Study 1

• Background
• Group operating internationally
• Number of companies formed
• Own management teams
• Decentralised structure
• High overhead base
• Volume business
• Contract control at company level
• Contraction in business volumes across a number
  of sectors and markets
• Consolidated results indicated 5 million loss at
  half year and a cash flow crisis

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Case Study 1

• Action
• Reviewed prospects for next six months
• Determined cost reductions
• Corporate restructuring proposals
• Modelled the impact of proposals
• Approached Bankers with update and plan
• Created a centralised oversight board and a
  centralised management team
• Appointed a Non Executive Chairman
• Appointed other Non Executive Directors

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Case Study 1

• Action
• Introduced new Corporate Governance arrangements
• Implemented turnaround plan
• Close monitoring of position by oversight board
• Continued use of new structures and challenge
  function
• Implemented Strategic Planning framework
• Continuous assessment of competitive position

Group returned to profitability and has gone from
strength to strength
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Case Study 2

• Background
• Group operating within British Isles
• Number of companies formed
• Own management teams
• Decentralised structure
• High overhead base
• Volume business
• Contract control at company level
• A key customer for a number of the companies
  reduced its activity levels (good margin and
  payment terms)
• Consolidated results indicated 1 million loss
  for year and pressure on cash and bank limits

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Case Study 2

• Action
• Chairman/Chief Executive and major shareholder
  approached Bank for increased support to enable
  them to overcome crisis
• Bank requested an independent review
• Review identified a number of issues
• Need to rationalise product range
• Need to rationalise number of plants
• Improved planning and control required
• New Corporate Governance arrangements
• Need to split Chairman/Chief Executive role
• Need to strengthen management team

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Case Study 2

• Action
• Initially Chairman/Chief Executive refused to
  accept recommendations and argued with findings
• Eventually agreed to appoint a Chief Executive (a
  long-time friend)
• Bank agreed interim financing package to enable
  rescue plan to be implemented

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Case Study 2

• Action
• Board and management slow to implement proposed
  actions and diluted the proposals in practice
• Short term focus and lack of strategic analysis
  by Board
• Management Team involved in crisis management
• Bank called for further external review

External Review indicated a worsening position
and Bank appointed an Administrative/Receiver
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Synopsis

• Career Highlights
• Case Studies Client Experience
• Developing Own Business

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Strategic Direction Global GoalGlobal Goal

• We must achieve and sustain market leadership in
  every major market world-wide

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Strategic Direction Global Goal Leadership in
Chosen Markets
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Strategic Direction Global Goal Global Ambition

• To be the leading global professional services
  organisation, solving complex business problems
  for top-tier clients in global, national and
  local markets

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Strategic Direction Global Goal Client Matrices
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Northern Ireland Strategic Direction

• Adopt global criteria to sustain and improve
  leadership position in Northern Ireland market
• Focus on knowledge based industries and develop
  local expertise and experience
• Increased industry specialisation and expertise
• Increase market share within growth areas in
  Northern Ireland
• Sustain overall market leadership position
• Think global and act local
• Clients
• People

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Northern Ireland Strategic DirectionClients
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Northern Ireland Strategic DirectionPeople
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Northern Ireland Market Position

• Leading provider to Northern Ireland Public
  Sector
• Leading provider to Northern Ireland Private
  Sector

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Market Positioning- Private Sector - Top 100
Companies

• Overall Market Share

• Act for 80 across all specialist services

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Northern Ireland Market Position

• Leading provider to Northern Ireland Public
  Sector
• Leading provider to Northern Ireland Private
  Sector
• In-depth penetration of corporate sector

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Market PositioningPrivate Sector Companies
employing more than 25 employees
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Northern Ireland Market Position

• Leading provider to Northern Ireland Public
  Sector
• Leading provider to Northern Ireland Private
  Sector
• In-depth penetration of corporate sector
• Increased employment to 800 in 2007

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Northern Ireland Strategy

• Dominate local market
• Create Centres of Excellence within Northern
  Ireland
• Generate export opportunities

Overall Result Sevenfold increase in fee income
in last 14 years
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Synopsis

• Career Highlights
• Case Studies Client Experience
• Developing Own Business
• Current Activities

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Current Activities

• Chairman Invest Northern Ireland
• Chairman Centre for Competitiveness
• Co-Chair North South Roundtable Group

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Current Activities

• Directorships
• Allied Irish Bank Group plc
• Allied Irish Bank (UK) plc
• BT Ireland
• Mivan Group
• Property
• Trading
• Anderson Spratt (Holdings) Ltd

• Consulting/Advice
• Douglas Grahame Ltd
• WG Baird Ltd
• Glenfarm Ltd
• Project Click

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• Open Forum