Understanding financial drivers
Charlie Elias is no stranger to tough jobs. The formative years of his career, when he was in his 20s, included spending four years working for Deloitte’s receivership practice during the 1990s recession.
“My days spent in the receivership area provided a fantastic business grounding,” he says. As for all companies in recent years, the focus in a turnaround was always cash first. “When the receiver I worked for called me up, he’d ask how the cash balance was going,” Elias says. “There was no discussion about earnings – [it was]: ‘Have you paid your suppliers?’; ‘Have you collected your cash from your customers?’