Dbriefs
24 Jun.

Chief Liquidity Officer: The time is now

Transactions & Business Events

Thursday, 02:00 p.m.  ET | 1 hr
Credits offered: CPE Event language: English

Participants can gain insights as to the value of a chief liquidity officer, working closely with sales, procurement, operations, and treasury. 

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Key takeaways

Host: Guy Langford, partner, Deloitte & Touche LLP

Presenters:

Michael Epstein, principal, Risk & Financial Advisory

Richard Infantino, managing director, Deloitte CRG

1 Overview CPE | Specialized Knowledge

For many companies, COVID-19 required crisis management and liquidity optimization, all while adjusting to the new work-from-home shift. As the path to recovery begins, businesses cannot forget the lessons and processes forged during this crisis over the past year. By introducing a chief liquidity officer to the C-suite, you can add cross-functional value to the business. We’ll discuss:

  • The chief liquidity officer role: from authoritative functionality to strategic planning
  • Expanding your EBITDA culture to one that includes a cash mindset
  • Working capital trends and their role during the pandemic

Meet the speakers

Guy Langford

Guy Langford

Partner | Deloitte Risk & Financial Advisory

Guy is a partner and the former US leader of the Transportation, Hospitality & Services (TH&S) industry. He is a partner in the Deloitte Risk & Financial Advisory practice within Deloitte & Touche LLP. In his leadership roles, he regularly exchanges ideas and discusses emerging issues with client service teams serving Transportation, Hospitality & Services sectors. Guy leads many relationships in TH&S sector as either lead relationship or advisory partner. Guy has deep experience advising financial sponsors and corporate clients on M&A transactions providing buy-and sell-side due diligence, accounting structuring, financial and operating aspects of transactions, and integration activities.

Michael J. Epstein

Michael J. Epstein

Global Special Situations Leader | Deloitte US

As global leader for Deloitte’s Special Situations practice, Michael Epstein spends his time primarily in the organization’s New York office. His practice is centered on crisis management, financial advisory services, and insolvency consulting activities in both middle-market and large transactions. Michael has been an integral part of the organization and its predecessors since 1989. Michael works with management teams, creditors, creditors' committees, and boards of directors in many aspects of distressed businesses, operational re-engineering, and financial restructuring. A few notable engagements include: Restructuring adviser for a $500 million global contract manufacturer Restructuring adviser for a ₤3 billion (debt) global media company Chief restructuring officer (CRO) for a $200 million consumer goods direct sales organization Turnaround adviser for a $750 million manufacturer of specialty apparel Adviser to a Dutch media company in their efforts to acquire an insolvent US competitor Post-restructuring board member for a medical communications and events management company Financial adviser to post-restructuring beneficial owners for a $400 million capital goods manufacturer Restructuring adviser for a $500 million global contract manufacturer Provided borrower representation and served as board director for a $100 million national specialty retailer Financial adviser to a multi-bank syndicate for a $300 million distributor of CATV and electronics parts Managing agent for a $400 million small-ticket leasing company CRO for a $150 million national provider of marketing consulting, management training, and HR-led services Previously, Michael was chief executive officer (CEO) of the largest provider of software solutions for specialized asset-based finance and back-office support for lease administration. Michael helped found that company's first business unit outside the United Kingdom and held a board seat for the parent company for nearly six years. Publications In 2017, Michael was inducted, as a fellow, into the American College of Bankruptcy. He is the author of In Maine Today Media, Communication Key, Buyouts Magazine, July 15, 2013; Own up to The Truth, MediaWeek, September 2010; Furthering Insolvency, Institutional Investor Corporate Governance Guide, October 2003; and Beyond Investor Relations: Communicating with Stakeholders in a Crisis, Investor Relations, spring 2003 Education BS, Tufts University MBA, Wharton School at the University of Pennsylvania

Richard Infantino

Richard Infantino

Managing Director | Deloitte CRG

Richard has more than 25 years of experience in a variety of senior management and consulting positions. In addition, he has served as crisis manager, chief strategy (restructuring) officer (CSO), interim chief executive officer (CEO), and strategic advisor. Representative engagements include: Currently serving as CSO for a $200 million public tissue manufacturer supplying private label and branded products primarily to big box and chain store retailers. Assisted in business plan assessment, profitability analyses, liquidity management, vendor negotiations and management, development of restructuring and strategic alternatives, secured and unsecured creditor interactions, preparation for Chapter 11 filing, bankruptcy administration, 363 sale process and related activities. Served as CSO for distressed $100 million label printing manufacturer supplying three primary global customers; worked closely with legal counsel in pursuit of alternate strategies for either a Chapter 11 or non-bankruptcy sale process; managed all aspects of liquidity including unsecured creditor relationships to stabilize and maintain source of supply; assisted in obtaining customer material support to mitigate supply chain disruptions; advised on secured lender issues; developed cash flow and borrowing base projections; enhanced accounts receivable collections through confirmation process; identified inventory management issues for improvement; targeted and implemented operating cost reductions; work resulted in sale of assets and balance sheet restructuring on an out of court basis to preserve long-term customer and vendor relationships Assisted multinational original equipment manufacturer (OEM) with complex, global restructuring issues caused by a distressed Tier One supplier of safety restraints; conducted financial analyses of business plans and forecasts to identify trends including changes in customer composition, cash position, warranty claims, capital expenditures and liquidity; evaluated potential buyer/sponsor bids and term sheets; analyzed pros and cons of regional insolvency plans; assisted legal counsel in developing accommodation and restructuring support agreements; assessed funding requirements including debtor-in-possession (DIP) facility sizing; supported client’s resourcing plans and actions with iterative data analytics based on changing environment; represented OEM as financial advisor in 14-member customer group meetings and negotiations with various counterparties; provided ongoing updates on client implications; work resulted in client’s ability to proactively protect supply chain Advised OEM on distressed $200 million glass supplier to prevent free-fall bankruptcy and major disruption of supply chain; client sole sourced glass for 13 models and required over one year to qualify and resource to new supplier; assisted in maintaining operations and wind-down; work resulted in smooth transition to new source of supply Other representative engagements include advising: Fortune 100 beverage manufacturer on troubled packaging supplier; $50 million consumer products company with trade vendor issues and fatigued lenders; secured lender in a $60 million debt restructuring; court appointed receiver on a $255 million Ponzi scheme; Chapter 11 trustee on a $140 million fraud scheme; performing arts center on $45 million in debt forgiveness Richard is a Certified Turnaround Professional (CTP) and a Fellow of the American College of Bankruptcy. He served as the past president and board chair of the Philadelphia Chapter of the Turnaround Management Association (TMA) and was the Vice President of Education and an Executive Board member of TMA’s global board of trustees in 2016-2017. Richard chaired the Chapter Presidents Council and Turnaround and Transactions Awards Committee. Education B.S., Wharton School at the University of Pennsylvania

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