Virgilio Penso

About Virgilio Penso

International Finance Executive with proven track record creating business strategies for US, Latin America and China regions, policies and leading turnarounds that consistently accomplish business goal. Expertise in conducting integration and mergers processes, strong internal controls and divestitures in worldwide organizations. Extensive knowledge and experience in US GAAP & IFRS, treasury, taxes, Sarbanes-Oaxley, auditing, financial planning & analysis (FP & A), ROIC for marketing and sales projects, transfer pricing, cost accounting and budgets. Pro-actively lead Supply Chain finance, including capital expenditures, inventories, cash cycles, saving projects, cost avoidance and productivity gains. Extensive interactions with share service centers. Key finance support in IT. SAP and Oracle experience. Team leader and coach, focused in developing collaborators and partners. Fully bilingual, English and Spanish. US Citizen.

Experience

1. Regional Finance Senior Director - Latam and China

   Teva Pharmaceuticals

   Oct 2013 — Present · Miami, FL, US

   TEVA PHARMACEUTICAL INDUSTRIES LTD – LATAM DIVISION (Subsidiary with annual sales of USD $800 M with presence of more than 16 countries and employees.)Regional Finance Senior Director - LATAM and China, Miami, FL (October 2013 – Present)Top leader to provide sound financial and strategic business insight that maximizes shareholder value, enhances sustainable competitiveness across all business models (full presence, JVs and distributors) and brands with presence in all 16 countries in the Latin America and China region. Responsible that all financial activities (planning and forecasting, treasury, accounting, tax, foreign exchange, financial operations, key finance systems, financial compliance and controls) are in place. Key partner and advisor in all M&A and divestitures transactions. Advisor to Supply Chain and Global Operations.10 direct reports. Led the creation and execution of a LRP 10-year financial strategy plan resulting in +12% revenue growth,+18% profit growth and +20% cash growth in the first 3 years of implementation. The profit margin grew from 23% to 34% from 2013.Actively managed portfolio profitability by increasing pricing by TA, brand and country for every skus in the region for Branded Generics, Specialties and Simple Generics and by eliminating products with low (15%) margin.Created a Trading Company to serve LatinAmerica from Switzerland resulting in a tax reduction of -12% for Venezuela and expected to reduce Chile and Uruguay as well. The NPV of the whole project in 8 years is $400mCo-led the renegotiation of the JV terms with P&G Healthcare resulting in a saving for TEVA of +$65m and growth of P&G\'s OTC business.Played a critical supporting role in the implementation of the Host-To-Host banking system across the region that resulted in stronger controls with a -20% cost reduction.Monitor key Chinese profitability to steadily increase sales in single digits and profit margin growth of over 10% per year.

Education

• IESA

  MBA, Business

• Boston College

  Master of Science - MS, Finance, General

• Boston College

  MSF, Finance

  1993 — 1994

• Universidad Simón Bolívar

  Engineer, Mechanical Engineer