E-Malt.com News article: UK: Cobra Beer's Finance Director awarded Financial Director of the Year 2006

Cobra Beer’s Finance Director and Chief Operating Officer, Dynshaw Italia, took the coveted Financial Director of the Year Award for a Growing Business at the Accountancy Age Awards 2006.

The award recognises professionals for their contribution towards the growth of the company in the financial and accountancy fields.

The judges described him as an energetic supporter of his company and applauded his leadership skills.

“This is a great man in a great company. Everything he does is about supporting and growing what has become a terrific brand. His dedication and ability to lead is obvious,” said one of the judges.

“He’s clearly a man on the way up, and a man more than able to support the kind of entrepreneurial business in which he works,” said another.

Cobra Beer, an £80m turnover player, is a company and a brand on the move. The brewer has achieved 25% growth year-on-year for the past three years, and Cobra Beer is exported to more than 40 countries.

The company’s growth plans depend on successful fundraising and following through with a strategy for expansion two areas where Italia has played a key role, particularly over the past 12 months.

In July, Cobra announced that it had raised £27.5m to fund its growth plans, which included capitalising on its strong position in the UK market and expanding into India.

The funds were required for marketing and distribution in both countries, but while the company needed sufficient funds to finance its ambitious growth plans, it also wanted to raise the money without diluting the future interests of shareholders.

Italia was instrumental in finding a financial solution in this case an unsecured loan of £25m, where the interest is rolled up and payable only on exit.

“Dynshaw has been very innovative in identifying and implementing a leading-edge “payment in kind” instrument,” says Anuj Chande, a partner at Grant Thornton.

“This fundraising generated much interest from other competitor brewers, and Dynshaw undertook to communicate to the market what the firm was doing.”

During the past year Italia has spearheaded Cobra’s entry into the Indian market. He took responsibility for setting up local production and distribution, establishing finance, production and marketing teams.

The move into India looks set to continue to provide the Cobra FD with interesting challenges. No other foreign beer has so far succeeded in establishing itself in India.

The market is stringently regulated and advertising for alcohol is prohibited in the subcontinent. No doubt Italia will be leading by example and encouraging his teams to find innovative solutions.


22 November, 2006