TeslaEuropean Accounting Director
Dec. 2010 - Oct. 2011• Initially appointed as European Accounting Manager, I was rapidly promoted during the fast-paced, start-up phase of the business. Reporting to the Global, US-based CFO, my main focus was to ensure that the business could scale up to sell 5,000+ cars across Europe in 2012 vs. 200 in 2011 and that this was achieved in a tax efficient and compliant manner. • Completed the set up and launch of Tesla’s European Shared Service centre supporting 9 European legal entities (UK, France, Germany, Netherlands, Italy, Monaco, Belgium, Norway and Denmark). • Recruited and managed a new, multi-culturally diverse finance team. • Ensured compliance with parent entity’s US GAAP reporting requirements together with all EU Statutory reporting (in local GAAP), corporation tax, VAT, import / export duty requirements, intra-stat returns and EC sales list. • Introduced cash flow forecasting, combining 12 different bank accounts • Moved most banking operations onto a single platform and investigated use of trading platforms for foreign exchange in order to gain better rates • Worked on reclassification and correction of a number of commodity codes to enable £400k+ of duty to be reclaimed from HMRC • Changed the way that batteries were imported to make use of bonded warehouse arrangements to legitimately avoid VAT and ease cash flow. • Facilitated opening new legal entities in the Netherlands and Norway • Developed a series of key controls and tests for first round of Sarbanes Oxley compliance