Whirlpool : Marco Fossataro wins a 2018 Business International Finance Award
June 14, 2018 at 12:43 pm EDT
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We're thrilled to announce that on 6th June Marco Fossataro, Vice President Finance & Chief Financial Officer, Whirlpool EMEA, won 1st prize at the 2018 Business International Finance Awards in the 'Administrative & Financial Processes' category.
The project that led to this recognition was the consolidation of administration activities in Shared Services Center in Łódź, our new office supporting accounting and financial operations for the entire EMEA region, by transforming and centralizing four existing locations - making it possible to redesign three main processes (Procure to Pay, Record to Report and Bill to Cash) - and defining a new target operating model.
'We are proud to have been recognized for this award which demonstrates our commitment to the highest standard of excellence in Finance and Administration' said Marco Fossataro, VP Finance & CFO Whirlpool EMEA. 'It has been a long journey, the one that brought us to the new Shared Services Center, and I'm glad that all our efforts have been rewarded. A big thank to all the team who made this happen and to all the colleagues that everyday make our Share Service Center the backbone of our financial processes.'
Focusing on top Italian companies in the Administration, Finance and Control areas, the award took place at the CFO Summit, a reference point for the Italian CFOs community for sharing ideas, best practices and successful experiences.
All the projects presented place the CFO at the centre of change and innovation in the business with a very strong focus on process innovation and digitalization. CFO skills are now seen not only as technical, but also increasingly those of a business partner supporting the company's strategy, which is why Business International decided to promote the best CFOs and finance teams.
Companies and their respective CFOs were assessed by a technical committee chaired by Maurizio Dallocchio (Professor of Corporate Finance, Università Bocconi) and the following experts: Raffaello Ascensionato Carnà, Università di Milano Bicocca, Alberto Tron, Università Bocconi and Università di Pisa, Massimo Solbiati, Liuc Università Cattaneo, Luciano Olivotto, Università Ca' Foscari, Roberta Provasi, Università degli studi di Milano-Bicocca, Paola Tagliavini, Università Bocconi di Milano and Riccardo Tiscini, Università Mercatorum and Luiss.
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Whirlpool Corporation published this content on 14 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 June 2018 16:42:07 UTC
Whirlpool Corporation is the world leader of the manufacturing and the marketing of large domestic equipments. The group's products are marketed mainly under the Whirlpool, Maytag, JennAir, KitchenAid, InSinkErator, Yummly, Amana, Bauknecht, Indesit, Hotpoint, Ignis Consul, Brastemp and Acros brands. Net sales break down by family of products as follows:
- refrigerators, freezers and air conditioners (31.7%);
- home laundry appliances (26%): washing machine and dryer;
- cooking appliances (25.6%): oven, microwave ovens, hoods, cooktops;
- dishwasher (9.2%);
- other (2.8%): mixers, toasters, culinary robots, etc.
The remaining net sales (4.7%) are from spare parts sales and after-sales services.
At the end of 2022, the group has 35 production sites worldwide.
Net sales break down geographically as follows: North America (58.2%), Europe/Middle East/Africa (20.4%), Latin America (15.9%) and Asia (5.5%).