Hospitals and Health Care
Technology, Information and Media
Professional Services
Active

Pascal Maygnan

International CFO

Jurisdiction

Germany | France | Belgium

Notable Employer

  • CFO & Managing Director Germany | Bonn, Germany at WEGE Klinik / Mercurius Health Group
  • Managing Director – Germany / Global Finance Director / International CFO | Erlangen, Germany at Oracle Cerner
  • Finance Director Germany | Erlangen, Germany at Oracle Cerner
  • Senior Finance Manager / Finance Director Middle East | Dubai, United Arab Emirates at Oracle Cerner
  • Finance Partner Europe / Senior Finance Manager, Europe & Middle East | Paris, France at Oracle Cerner
  • Financial Controller France & Benelux | Paris, France at Johnson & Johnson
  • Financial Analyst EMEA | Stuttgart, Germany at Hewlett-Packard

Experience

Seniority LevelC-Suite
Years of Experience20+ years
Current StatusActive
CFO & Managing Director Germany | Bonn, GermanyNotable
2024 - 2025

Scope: CFO Germany for the regional business of Mercurius Health (a Portuguese-based PE-backed company in the field of radiotherapy and nuclear medicine, and a specialist in advanced oncology solutions). Responsible for the turnaround and transformation of a 40-bed clinic with annual 1,200 inpatients and 6,000 outpatients. Lead major development projects (e.g., M&A, integrations, cooperations with other hospitals). Lead and develop a team of 5 professionals. Duties & Responsibilities: > Leadership of the finance team (including recruiting, performance assessment, development, succession planning). > Financial turnaround of the clinic, a $15M annual revenue establishment with annual loss of $3M. > Strategic planning and execution, together with clinic leadership and Mercurius Health executive cabinet. > Commercial development, M&A, strategic partnerships, project management. > Monitors all finance functions, including FP&A, accounting and audits, treasury, AR & AP, financing, tax. Selected Accomplishments: > Executed turnaround plan to slash €2.7M of expenses and improve EBITDA from -€4.3M to breakeven in 2025. > Restructured finance team, addressed and significantly improved performance, let go of 2 headcounts. > Applied for hospital plan grants to help finance a €75M project.

Managing Director – Germany / Global Finance Director / International CFO | Erlangen, GermanyNotable
2019 - 2023

Scope: International CFO for Oracle Cerner (formerly known as the Cerner Corporation; was purchased by Oracle in June 2022), I replaced the departing Senior Vice-President of Europe Finance in December 2018 and took over financial responsibility for all international regions of Cerner (Middle East, Asia Pacific, Canada, Latin America). I led a team of up to 50 people (down from about 70 when I started the role, due to the divestiture of part of our German business in 2020). I was responsible for 27 legal entities in 24 countries, that generated annual revenue of $750m, growing at double digit (15% per year). In my role, I represented Finance in our international executive cabinet and was responsible for all financial decisions impacting our international business. Duties & Responsibilities: > Leadership of the team (including recruiting, performance assessment, development, succession planning). > Strategic planning and focus, together with executive cabinet and the international regions GMs. > Commercial finance and support, including discussion of financial models or development of complex pricing models for large strategic deals, contract reviews, client discussions, business partnering. > FP&A, budgeting, analysis and reporting. > Accounting and audits, treasury, accounts receivable and accounts payable. Selected Accomplishments: > Tapped to take over EMEA, APAC and Canadian business areas to align regions around one financial process. > Structured $2BN+ in client deals, doubling margin from under 20% to an all-time high of 40%. > Greatly contributed to $275M company sale, flooding profits by 240% in 18 months. > Expanded margin by $19M by lowering bad debt and shrinking $185M A/R over 90 days from 51% to 16%. > Delivered an additional $30M-$40M in revenue during acquisition. > Responsible for 27 legal entities across 24 countries and up to 70 professionals. > Championed business case for product line with exponential projected growth from $60M to $500M within 7 years. > Conducted financial and vendor due diligence packages for numerous investment cases worth $500M. > Removed unneeded cost accruals in 3rd-party maintenance process, garnering $1.2M in margin expansion. > Incepted new process initiatives that quickened orders closed within 48 hours from 77% to 91% and slashed overall processing time in half. > Elevated international business net contribution by 80% thorough cost optimization and resource reallocation. > Directed expense reduction activities across all global regions, capturing $50M annually.

Finance Director Germany | Erlangen, GermanyNotable
2016 - 2018

Scope: Because of excellent results while in the Middle East and my ability to speak German, I was asked to move to Germany to take over a German Finance team of about 70 people and turn it around after failed integration/migration activities from the acquisition of a Siemens business unit in 2015. Responsible for 3 legal entities in Germany and Austria, looking over a business contributing annual revenue of $120-$130m. Responsible for the entire Quote to Cash processes, as well as the bidding and contract management teams. Duties & Responsibilities: > Strong leadership to the finance team and the senior leadership team in the region. > Stabilization and turnaround of the finance team, alignment with Cerner processes and performance KPIs. > Focus on process and controllership. > Strong presence to connect Germany and World Headquarters in Kansas City. > Strong business partnering for the business. Selected Accomplishments: > Successfully integrated a key acquisition, managing huge additional post-merger work without disruption. > Slashed outstanding vendor payments from $10M to under $1M in only one year. > Implemented systematic price indexation, securing $3M in revenue. > Rebuilt Finance team into elite top performers, boosting employee morale and slashing attrition. > Sped up critical process turnaround time from 12+ days to 48 hours. > Coached Finance & Sales teams to align on goals, improving communication and effectiveness of teams. > Trained Europe accountant team of 30 on new revenue recognition standard & reconciled $400M revenue backlog. > Eliminated ~$40M of unrealizable revenue.

Senior Finance Manager / Finance Director Middle East | Dubai, United Arab EmiratesNotable
2012 - 2016

Scope: Responsible for 5 legal entities and a business that grew from $60m revenue in 2012 to $140m in 2016. Started the finance function and team from scratch, ending my tenure in the region with a strong team of 6 people. Was responsible for the entire Quote to Cash processes. Duties & Responsibilities: > Provide strong finance leadership to the new executive team in the Middle East. > Actively participate in client deal discussions to ensure closing at optimal margin and risk levels. > Manage risk exposure, especially on cash (client payments) and revenue recognition. > Understand client processes to ensure right timing of cash processes. > Structure a finance organization capable of supporting the rapid growth in the region. > Engage on iCapital project that had stalled and design and implement strategy together with executive management to recover past due payments and complete project. > Be main point of contact for bank relationships (bank accounts, bonds). Selected Accomplishments: > Surged revenue from $60M to $140M. > Built & developed 6-people finance team from scratch. > Directly contributed to closing deals worth about $1BN while maintaining contribution margin over 35%. > Negotiated client payment settlement plan that recouped $7M and secured project completion. > Reduced aged A/R by 65% within 3 years, recouping more than $100M of past due cash from clients. > Structured a joint venture in Saudi Arabia to work on government projects worth over $30M. > Negotiated settlement of outstanding debt of $60M with key client, achieving only 2% decrease in contract value.

Finance Partner Europe / Senior Finance Manager, Europe & Middle East | Paris, FranceNotable
2009 - 2012

Scope: Responsible for FP&A and Accounting teams in Europe, accounting for annual revenue of $50m, later increasing to $110m when I added the Middle East to my scope at the end of 2009. Initially covered 3 legal entities (France, Germany, Spain) and then added 5 legal entities in the Middle East. Led an FP&A team of 5 analysts and an accounting team of 10 accountants. Duties & Responsibilities: > Develop strong FP&A team. > Support the countries GMs in tender bids. > Provide a consistent, reliable and regular reporting package to senior executive leadership in the US. > Develop and implement plan to have France recover to a profitable business position. > Develop a strong finance culture in the European businesses. > Stabilize accounting function all across Europe, ensuring audits are done on time. Selected Accomplishments: > Spearheaded a critical operational reduction that transformed $10M in losses into burgeoning profits first year. > Initially oversaw 3 legal entities that generated annual revenue of $50M. Scope expanded to revenues of >$250M. > Developed & oversaw cost control measures which reduced operating costs by $8M p.a. > Negotiated payment plan with Spanish client to recoup $7M in aged receivables and decrease revenue exposure.

Financial Controller France & Benelux | Paris, FranceNotable
2005 - 2008

Scope: Responsible for the financial management of the French and Benelux entities of J&J’s Vision Care’s business unit (contact lenses). Oversaw annual revenue of $75m growing at double-digit. Started as a Financial Analyst, being promoted to Controller within 6 months of starting. Managed 1 person. Duties & Responsibilities: > Month-end closing activities (accounting, balance sheet reconciliation, inter-company transactions, etc.) > Provide reporting with analysis of results and recommendations to country and Europe management. > Develop quarterly forecasts and annual budgets. > Work on ad-hoc projects as required by the business. > Prepare financial slide decks for strategic reviews with US executive leadership. > Perform SOX testing and analysis. > Partner with sales/key account managers and marketing teams to support them in running their operations and programs and drive profitable growth. Selected Accomplishments: > Started as Financial Analyst, promoted to Controller & senior leadership team member within 12 months. > Analyzed data, exploited opportunities & delivered shrewd financial leadership, growing revenue 15% to $75M. > Saved $1M in supply chain costs & implemented a product launch valuation tool to grow sales by $35M in 3 years. > Created an innovative pricing model to support contract negotiations & post an extra 2% annual gross margin. > Saved 10% in SG&A expenses and optimized budgets and resources to triple net profits. > Proud recipient of multiple leadership awards and an EMEA President’s Club Award nomination.

Financial Analyst EMEA | Stuttgart, GermanyNotable
1999 - 2002

Scope: Financial Analyst in the Remarketing division of HP. Responsible for $220m of annual revenue across EMEA. Led several projects aiming at increasing revenue and profitability of the division, as well as projects to simplify cost calculations. Duties & Responsibilities: > Lead monthly revenue reporting for the EMEA regions. > Calculate quarterly enterprise standard costs for our products. > Work on ad-hoc projects, as needed by the company. > Support marketing team with programs ROI calculations. > Follow-up of expenses, produce analysis and recommendations of corrective actions. Selected Accomplishments: > Led project management, financial modelling, FP&A, valuation, and financial consulting for Executive Management of the Remarketing division. > Managed an international cross-functional team of 8 to implement European-wide asset optimization program. > Saved $10M in inventory risk and SG&A by developing a financial model to optimize inventory management and facilitate transfer of $100M of assets. > Increased net margin from 8% to 17% year on year by introducing activity-based costing P&L per product line, used by Board to identify and exit non-profitable businesses. > Developed financial framework to start web auctions of used products with Amazon Germany. Auctions generated $1.2M in incremental sales in the first year, at average price 25% higher than market. > Achieved HP Europe Key Contributor Award for leadership in project management.

Education

Masters of FinanceColumbia Business School, New York, USA
2002 - 2004

Skills

Core skills0
Languages3

Languages

English
French
German