What a difference it makes having a CEO who really understands...

What a difference it makes having a CEO who really understands what it means to run a business. The evidence of this is now just becoming clear and is about to get a whole lot clearer over the coming quarters. Wayne Paterson has said that we'll be profitable in FY2018 and hinted at profitability even sooner than that, possibly this current FY in the last (June) quarter. That would be an amazing turn around, an incredible achievement although one which Wayne is entirely capable of. He's had an amazing career and for those who haven't had a close read of his past achievements and successes here is a short summary....

Mr. Paterson has held numerous, senior positions in multi-national companies. Throughout his career, he has been responsible for building businesses throughout the world, as well as mergers and major restructures.

From 2007 to 2013, Mr. Paterson held senior positions at Merck Serono. In his most recent position as President of Europe, Canada and Australia, he managed over $3 billion in sales with an operational budget of $500 million.

Mr. Paterson also held the position of Global Head of Cardio Metabolic Care and General Medicine, with revenue responsibility of $1.5 billion, and was responsible for all aspects of company strategy, including manufacturing strategies, commercial operations and budgets.

Between 2010 and 2012, Mr. Paterson was Head of Emerging Markets including Russia, China, India and Brazil, and was a member of the Executive Board. As President during 2007 until 2010 in Japan, Mr. Paterson created Merck Serono Japan and successfully managed all company divisions, launching several major products. In this capacity, Mr. Paterson served as Chairman of the Board of Merck Serono Japan.

Between 1994 and 2005, Mr.Paterson was employed by Roche Pharmaceuticals. As Marketing Director in Shanghai, China, he launched eight products during this time, including cardiovascular products.
Mr. Paterson is an Australian national and has resided overseas since 1999, having lived in China, Singapore, Korea, Japan, Switzerland and the US. He now lives in Switzerland, where he is CEO and co-founder of a software company that provides solutions to the global pharmaceutical industry.

Mr. Paterson holds a MBA from the University of Southern Queensland, and a degree in business studies from the Queensland University of Technology. He has also studied business courses at North Western University (Kellog School of Management) in Chicago, IMD Business School in Switzerland, INSEAD in France and Hong Kong University of Technology.

An incredible career so far....

And some of the changes he'll be implementing at AHZ over the coming months and the impacts of those changes on sales and expenses,

- Forecast for FY17 total sales growth of >50% to at least $21M

- Business review complete with key restructuring initiatives underway

- Forecast decrease in operating expenditure in FY17 of over $12M to be delivered through:
o Gross Profit Margins to rise 50% due to manufacturing and operational cost savings and improvements
o Reduction in Full time employees by 30%