Garry Walsh

Founding Shareholder of an AI based retail distribution tool which seeks to drive real insight in a meaningful timeframe to deliver tangible improvements in on-shelf availability. Recruited the CEO and CTO for the operation as well as identifying and negotiating an exclusive regional partnership with the best performing API in this space.

Working with the management to team to explore and onboard various business opportunities including new partnerships, new acquisitions and new technologies, whilst also working with the CEO to reshape the company and dispose of non-core assets.

With a market capitalization of over a billion dollars Mezzan is one of the largest listed food and medical businesses in the GCC with operations in 6 countries (www.mezzan.com). The group was a private company, owned by the Al Wazzan family of Kuwait which we successfully IPO’d in June 2015 having driven substantial growth over the four-year period as well as introducing proper governance structures and a focus on cash management.

KSP represents a strategic play by Mezzan to move from medical distribution to pharma manufacture. The team in KSP continue to execute a growth strategy focused on delivering market leading results, and quality, within the generic space to ultimately increase shareholder value through a spin-off of this section of the group. The board has recently approved an investment of $100m in further manufacturing assets over three years, reflecting our satisfaction with the current progress.

As the first non-family member to be asked to run the company it was my responsibility to prepare the business and the shareholders for an IPO. Working with the board and executive team through the improvement in governance standards, turn around of struggling businesses, acquisitions and disposals we have now created a regional player which is well invested, cash generative, well run and poised for substantial growth.

Achievements:

• Worked with the board in 2023 to create and implement a new strategic vision for the business designed to focus on our core competencies in medicine and food to unlock significant shareholder value over the coming 5 years.
• Led the change in governance structures, the exit of 2nd generation family members from operations and up to board level, the restructure of all the family assets, the introduction of independent directors and the private placement process as prerequisites for Mezzan to IPO in 2015, the first in Kuwait since 2008.
• Worked with the businesses to deliver and execute wins with our brand partners, the UN, NATO and FIFA to deliver significant profit enhancing opportunities through leveraging our core skills and drive significant, immediate returns whilst we focused on repositioning our brands and agencies to be regional rather than Kuwait Centric.
• In 2019 led the acquisition of a majority stake in KSPICo and Tarek Co., giving Mezzan a creditable platform for growth within the pharmaceutical sector and medical devices sectors. In 2022 led the buyout of the remainder of Tarek and the increase in ownership stake in KSP.
• Acquired new assets in Saudi, Kuwait, and the Emirates whist disposing of non-core assets such as Awal Gulf in Bahrain and our food business in Iraq.
• Served as the Mezzan Representative on various boards.

A division of Northern Foods Plc. (the UK’s largest indigenous food company) with a turnover of circa £200m and 3000 employees, Recipe Dish is the largest manufacturers of chilled ready meals in the UK. Having struggled to operate at a stable level, 2009 saw a dramatic fall in profitability and a concurrent exit of talent from the business. I was appointed to this key strategic post with complete P+L responsibility for this 5-site business and a mandate to quickly reverse the bottom-line decline.

Achievements:

• On exit the business was trading profitably, with turnover up 15% in appropriate areas and profitability expected to exceed £9m by year end versus a breakeven in 2010 and an initial trended loss of £12m.
• Moved swiftly to close an unrecoverable site with no employee issues and maintaining customer service and relationship whilst delivering a £5m saving.
• Built a culture and team to address shortcomings in operations delivering an improvement in service levels to over 98% (PY
• Introduced a continuous improvement culture and project management-based approach to the business as part of a new strategy to take the business forward.
• Put in place a new S&OP process to align the sales and the operational sections of the business, ensuring early identification of issues and opportunities. This was supported by the introduction of proper governance standards, onboarding of new talent and the role out of balanced score card based KPI’s and job roles.
• As a Northern Foods Operating Board member played a full and active role in the creation and delivery of the group strategy including interacting with the PLC board and the sale of the group in November 2010.

A division of Northern Foods Plc., Green Isle Foods was one of the largest indigenous FMCG businesses in Ireland, operating in the frozen and chilled FMCG food sector across Ireland, the UK and Europe with brands such as Goodfellas, and Donegal Catch, as well as selected own label positions. Through a team of 8 direct reports, I managed the complete P+L for this €350m business with circa 1,000 employees, 7 sites and a market leading profitability profile.

Achievements:

• Delivered a 35% increase in profitability despite significant currency related challenges (£20m) to circa €20m.
• Introduced a Lean Six Sigma philosophy to the business and embedded in the culture delivering significant cost savings of €8m in year one.
• Managed significant employee reductions without any lost production time, including site reductions (circa 1/3 of the workforce).
• Integrated the RHM pastry business into the Portumna site driving a £3m profit improvement in year 1.
• Moved the business from a DB pension scheme to DC driving a £4m NPV improvement.
• Won the Irish Exporter of the year – twice.
• Was appointed to the national council of the Irish Business and Employers Confederation.

Achievements:

• Led a team to deliver a dramatic turnaround in our fish business unit with net to sale moving from 3% to c15% whilst sales grew by c60% over 4 years.
• Led a team to reposition the Green Isle Brand and product proposition to deliver profit growth of circa 125% over a four-year period and take market leadership in Ireland from Birds Eye (Unilever).
• Put in place a robust commercial academy to ensure the delivery of a strong talent pool focused on delivering profitable growth for the business.