www.wealthandfinance-news.com 26 Wealth & Finance International - November 2017 Part of the SPI Group, ABG unites over 1,450 employees in companies from the Baltics to Mexico, including the leading producers of alcoholic beverages in Latvia and Mexico, experienced distribution companies in Estonia, Latvia and Lithuania, a specialized retail chain of around 70 shops operating in Latvia and Lithuania and logistics services across the Baltics. Jekaterina explains to us her previous roles and what they entailed. “Prior to Joining ABG, I was CFO at NP Foods, the leading chocolate and sweets manufacturer in Latvia, after I worked more than 10 years at Ernst & Young as part of audit and consulting team providing services to clients in wide range of industries. “Afterward, I joined SPI Group as the CFO of Baltic Units, before ABG was created. Creation of ABG and reorganisation of SPI Baltic companies was one of the first projects.” Discussing her role now, Jekaterina gives us an insight into the restructuring of the company, and where the focus of the team switched to, enabling it to assess what needed changing. She notes that the central team structure is now set in place for further expansion of the ABG. “During the process of restructuring, we concentrated on taking out all administrative support functions from operating companies and creating a holding company that will provide shared services of Finance, HR, IT and Central Marketing for our Core Brands. We put a lot of effort on review of the processes to exclude duplication of functions within operating companies, make communication lines very clear and effective. Our central team structure now is a good platform for further expansion of ABG. “A good example of our new ventures is our recent acquisition of Fabrica de Tequilas Finos, a company that owns a tequila brand and has a production facility in the town of Tequila, Mexico. Despite this company being located in a completely different part of the world, we took over IT and Finance functions within two months and now are providing all such support services from Riga.” Furthermore, ABG will continue expansion of its Group and as part of our Management team, Jekaterina was involved in several local and international acquisitions that helped ABG to become not the Baltic market leader, but also establish strong international presence. Within the competitive food and drink industry, it is now not possible to grow just organic, and every company, including ABG, need acquisitions in order to take Leading role on Global market. Jekaterina likes to take a hands-on approach to business, challenging herself and her team mates. There are always smarter and more innovative ways to reach goals and it is part of her job to find these and it what she enjoys. “With any situation, I have many ideas and initiatives that first appear impossible and it is so rewarding to see them implemented and contributing to the business performance. Our goal is to deliver excellence in everything we do, and to me this is not just a slogan but a working culture.” Acknowledging her own success, Jekaterina is keen to point out that the work that her team does, and that this is her strongest asset. She thinks the role of CFO has changed since she first started, with the CFO having more of an impact in the decision making within companies. “Essentially, I strongly believe that my team is one of the most important aspects of my success, The Amber Beverage Group (ABG) produces, bottles, markets, distributes, exports and retails a comprehensive range of spirits and wines of almost 500 brands. Jekaterina Stuge explains more about the company and her own role as CFO of the company. The Leader in Beverages 1711WF22 Company: Amber Beverage Group Contact: Jekaterina Stuge Contact Email:
[email protected] Address: 160 A. Caka Str, Riga, LV-1012, Latvia Phone: 37129331161 Website: amberbev.com “With any situation, I have many ideas and initiatives that first appear impossible and it is so rewarding to see them implemented and contributing to the business performance.” especially in the way we have pulled together during this years. Regarding my management style, I try to give my team the freedom in day to day operations, challenge by involving in interesting project and of course I support them if they are struggling. Overall, I think the role of the CFO generally has broadened over the past years. Beyond the core responsibilities of financial reporting, audit and compliance, planning, treasury, and capital structure, many CFOs are playing a stronger role in operational decisions, being key advisors/ partners for business decision makers through the organization. The CFO takes the leading position in performance management, and plays an expert role in the development of highly efficient tools to make the decision making more transparent, more straight-forward, based on more relevant information.”