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Ring's Finance Director Wins Yorkshire Deal of the Year at Awards

20/09/2019
Theresa Spencer, Finance Director at Ring, has been announced winner of the “Yorkshire Deal of the Year” at the Yorkshire Finance Leaders Awards, which took place at the Queens Hotel in Leeds on Thursday 19 September.

The awards recognise and celebrate exceptional financial leadership in the Yorkshire region from the past 12 months, with nine categories highlighting the best talent across a range of businesses and organisations. Theresa, who was appointed as Finance Director at Ring in 2016, was shortlisted for her work on the recent acquisition of Ring by Osram, which was completed in May 2019.

Taking a central role in the deal, which began in 2017 and included gaining approval from the CMA, plus the integration work that has been carried out since the deal was completed, Theresa was a strong contender against other leading professionals from the sector.

"The challenge posed by the Osram acquisition of Ring has been an exciting opportunity to develop my skills as both a Financial Director but also as a commercial and strategic leader. The successful completion of the deal and subsequent integration opens up new markets for Ring, as well as new product areas for Osram. I’m proud to have been involved in building a company that has proven valuable to a large multinational with a long and successful history."

With the acquisition of Ring, Osram is strengthening its aftermarket business and offering customers access to a broader, complementary product range. Both companies see the agreement as an opportunity for a successful European cooperation. Theresa has been integral in bringing the deal to a successful conclusion, ensuring that both companies can continue to grow and thrive in the UK, Europe and beyond.

Spencer has worked across the UK with previous positions in Sheffield, Cambridge, London and Doncaster, allowing her to develop her financial skills and commercial acumen, both of which she believes are important for those in financial leadership roles.

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“Both a changing business culture and an uncertain economic and political landscape have changed the role of the Finance Director over the past five years. Risk management is a critical part of the FD role and trying to prepare your business for a variety of high impact scenarios that are highly speculative is difficult, time consuming and potentially costly.
“In my experience, there has been a shift towards financial leaders playing a more commercial and strategic business role. An FD who has empathy for the trading side of a business can offer a unique perspective on strategic direction and investment opportunities. I feel there is increasing headroom for well-rounded Financial Directors, especially those with strong levels of emotional intelligence, to play a part in business leadership.”

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