STEPHEN NEILL

BACKGROUND:

Experienced thought leader in shareholder value/managing for value (MFV), with a proven track record of more than 13 years in supporting Boards of major companies in the UK, US, Continental Europe and South Africa.
Passionate about working with clients to develop and implement pragmatic business solutions and to achieve challenging value creation goals.
Developed a unique and powerful set of methodologies to help senior managers better understand the company’s key value drivers in a systematic way, and then to mobilise the business around these, thereby enhancing overall business management and promoting value maximising commercial decision making and performance management.
Adapted the concepts of MFV and applied them successfully in a public sector context.

CORE COMPETENCIES:

Interacting effectively, building credibility and adding value at top management/Board level.
Leading, integrating and managing client/consultant project teams – often working on complex multi-stream strategic, organisational and operational projects.
Strong inter-personal and client relationship skills and ability to build trust, through constantly exceeding client expectations.
Aptitude for quickly understanding client’s business and their market and generating breakthrough insights and adding value from an early stage of any new relationship.
Facilitating clear, logical, strategic and commercial thinking, based on a rigorous understanding of key value drivers.
Applying strong analytical skills, e.g. structured value based methodologies, financial analysis and modelling, to support and enhance business decision making.
Identifying and supporting the delivery of key strategic, organisational and operational value improvement opportunities, designed to ‘beat the competition’.
Development of ‘step change’ organic and non organic business growth strategies.
Value maximising brand and channel strategy development.
Value based strategic cost management/reduction programmes.

PROFESSIONAL EXPERIENCE

VBM CONSULTING LTD, Surrey UK • 1996-Present
Boutique strategy consulting practice specialising in working with senior managers and Boards to develop and implement pragmatic business solutions designed to create and sustain maximum shareholder value.
Founder/Managing Partner
Stephen established the practice in 1996, having identified a demand for a more practical application of MFV. He developed highly effective value based methodologies for addressing key strategic, organisational and operational business issues. Stephen’s approach places more emphasis on working with clients to develop a thorough understanding of key value drivers (KVDs), and less emphasis on designing and implementing complex new business processes and value metrics. A key theme characterising his work is a relentless focus on high quality commercial thinking – the key to survival in today’s challenging economic climate. During his time with VBM
Consulting, Stephen has developed a respected reputation amongst business leaders in companies such as Barclays, Alliance Boots, WH Smith, Avon Cosmetics and others.
MARAKON, London UK • 1993-1996
Marakon is a strategic management consultancy business with offices in New York, London and Chicago - recognised as leaders in the application of Managing for Value in large corporations.
Senior Associate
Managed a series of major multi-stream consulting engagements at Boots PLC, Lloyds TSB and others. Example of some projects included: valuation and sale of Boots Pharmaceuticals to Knoll – 1995/6, review of entire Boots support services strategy and introduction of Shared Service units e.g. in Engineering Finance etc, Disposal of Do- it- All, DIY chain, Support for new revenue growth strategy for retail banking at Lloyds TSB.
THE HENLEY CENTRE, London UK • 1990-1993
The Henley Centre is a leading macro and micro economic analysis and consultancy.
Chief UK Economist
Led a team of 6 senior economists, producing macro-economic forecasts, analysis and advice for major corporate client such e.g. BP, Cadbury Schweppes, Financial Times and others. Carried out numerous consulting
engagements on behalf of clients e.g. the development of pricing strategies for major companies such as Coca Cola, Diageo etc. The role also involved a significant amount of media (radio and TV ) exposure.

CLIENT WORK – EXAMPLES

Avon Cosmetics – South Africa
Having operated in the South African market for over 10 years, there was a need to turbo charge the acceptance and growth of the Avon brand in South Africa. The brief called for an initial assessment of the ‘size of the prize’ in South Africa and then for the development and implementation of a value maximising ‘step change growth strategy’ for the business. Working with senior management in SA and the US, a strategy to maximise coverage and brand awareness was developed and is currently being implemented. It is now unanimously accepted by management
that the output of this work will be the key to Avon’s growth and success in the South African market in the next 5 years.
The Boots Company PLC (Alliance Boots)
Commissioned by the Board of Boots to review the Wellbeing Services Strategy and make recommendations re future participation. Stephen’s work demonstrated clearly that this strategy was not a value maximising course of action for Boots, conclusions which the Board fiercely resisted. Later developments however, completely vindicated his conclusions as virtually the entire Board was relieved of their positions. The new CEO subsequently exited Services as per Stephen’s earlier recommendations.
Commissioned by the CEO to lead a £100m strategic cost review – involved managing 7 major simultaneous work streams across the business, developing implementation plans and securing buy-in from the Board. The project
required maximum sensitivity on the part of Stephen and the project team, due to the highly political environment within which the work was carried out.
Barclays Bank PLC Commissioned by Board to develop the content for Barclays’ Managing For Value (MFV) in house interactive training – worked with Epic PLC a major e learning company to develop this intranet based training which has proved to be highly successful. Worked with Barclays University Business School in support of The Lead to Win (LTW) Programme, a programme for future Barclays leaders in association with London Business School.
Barclaycard Worked with Executive of Barclaycard in Northampton to support their ‘Deep Change’ business transformation programme. The impact of this project was highly commended by Barclaycard senior management and was the basis for the development of a wide range of major strategic, organisational and operational initiatives.
Boehringer Ingelheim Worked with the UK MD of the UK subsidiary of this German Pharma company to develop a business turn around strategy. Prior to commissioning VBM Consulting, the future outlook for the business was exceptionally bleak, facing as it was a serious threat of closure. Within two years, the business was completely transformed, with sales and profitability more than doubled. The UK business is now held up as model of success which other BI operating companies around the world are being encouraged to emulate. Our initial sponsor at BI, the UK MD has now been promoted to a senior global role and is expected to join the Board in the near future.

EDUCATION

1985: BCom (Cum Laude) University of Port Elizabeth South Africa
1986: BCom (Honours) Economics (First Class) – University of Cape Town
1988: MPhil Economics: St Johns College, Cambridge University
ACHIEVEMENTS
Co-author of a leading publication on value-based strategy, marketing and management, The Value Mandate
(2001) widely praised by the Financial Executives Institute (FEI), The Corporate Library and others as one of the
leading publications in this field.
Co-author of a book on Internet companies, their valuation, and efficiency implications for Net-responsive
companies, Net Value (2001).
Accredited Associate of the National School of Government in the UK.
INTERESTS
Active support for development/investment in South Africa
Children/Youth work connected with local church
Attendance at as many of my sons’ sports events as possible! – rugby, cricket, swimming etc.