Suggestions
Ron Michel
Group Treasurer at Synlait Milk Limited
Professional Background
Ron Michel is a highly experienced Group Treasurer and Commodity Risk Manager, known for his extensive background in accounting and finance. He has played a pivotal role in two significant sectors, contributing to the success of a NZX 50 listed company and a subsidiary of a large multinational business. With a proven track record in managing substantial financial risk in various markets, Ron focuses on developing and implementing effective strategies that not only meet but consistently exceed profit objectives. His professional journey reflects a commitment to excellence in treasury functions and accounting standards.
During his tenure at Synlait Milk Limited, Ron took on the critical role of Group Treasurer, where he successfully established and built the Treasury and Commodity hedging functions. His leadership was instrumental in driving a Trans-Tasman team that selected and implemented the eTC Treasury System, showcasing his proficiency in utilizing advanced treasury systems. Ron's capability extends to managing the Group Treasury function, overseeing banking relationships, funding strategies, and debt management, while effectively handling foreign exchange and interest rate exposures.
In addition to his treasury responsibilities, Ron has made significant contributions to the Commodity Purchasing & Hedging function. His expertise in managing physical supply contracts, futures market risk, and developing sophisticated trading strategies demonstrates his adeptness at navigating the complexities of commodity markets, particularly with raw sugar and dairy products. His experience with the WallStreet Systems eTC Treasury system, REVAL, and SAP further underscores his technical expertise tailored for contemporary financial ecosystems.
Education and Achievements
Ron’s academic background is just as impressive as his professional journey. He completed his studies at the University of Auckland, earning a Bachelor of Commerce while qualifying as a Chartered Accountant (CA) and Certified Treasury Professional (CTP). Additionally, he commenced his educational path at Westlake Boys High, where he excelled in his studies, evident from his 'A' Bursary achievements. This strong academic foundation has equipped him with the necessary technical knowledge to excel in his professional roles.
Throughout his illustrious career, Ron has garnered multiple awards, testament to his remarkable contributions in the fields of treasury and finance. In 2020, he was recognized at the INFINZ Awards for his Excellence in Treasury, underscoring his ability to manage treasury functions with outstanding skill. Furthermore, he was honored at the NZ CFO Awards for his team's contribution to ESG initiatives, reflecting his commitment to sustainable financial practices and contributing positively to environmental and social governance.
Achievements
Ron’s achievements in the financial sector have been notable and impactful. Among his major accomplishments:
- He successfully managed the Treasury and Raw Sugar Hedging functions as a profit center in volatile markets, resulting in an impressive average profit of $1.5 million per year, with a peak profit of $4.1 million in 2014. This outstanding performance showcases his capability in risk management and strategic decision-making despite market fluctuations.
- Records indicate that Ron excelled in trading strategies, achieving an extraordinary average of $1.2 million in gains from Raw Sugar futures spread trading over a continuous span of 21 years across diverse market structures. This achievement not only highlights his expertise but also surpasses business expectations consistently.
Ron's dedication to driving financial excellence and managing risks effectively positions him as a respected leader in the treasury and finance sectors. His journey is marked by significant contributions to organizations like Synlait Milk Limited and New Zealand Sugar Company Ltd, where he held various roles, including Treasurer, Financial Accountant, and Management Accountant, progressive positions that honed his skills and leadership approach.
As Ron continues to contribute to the finance and treasury landscapes, his ability to navigate complex markets with strategic insight remains a hallmark of his professional identity. Collaborating with teams and stakeholders, he remains committed to upholding the highest professional standards in the finance industry, establishing him as a sought-after expert in commodity risk management and treasury functions.
