Thomas takes the top prize at Scottish Business Insider's Finance Director of the Year Awards
Peter Thomas, Chief Financial Officer of Aberdeen based oil and gas production company Taqa Bratani won the prestigious Corporate Finance Director of the Year at the Finance Director of the Year awards today.
Thomas has spent almost his entire career in the upstream sector of the oil and gas industry.
He qualified with KPMG and then joined Enterprise Oil based in London but travelling all over the world.
He then worked for a number of small exploration companies spending time in Australia before being recruited to join oil and gas production company Taqa Bratani in Aberdeen.
Since then he has been involved in negotiating a number of transformational deals including a $1bn transaction with MP to acquire a significant package of assets in the central North Sea. Today the company employs more than 2000 people.
Thomas also played an active role in a working group looking at the solutions to the commercial, fiscal and financial challenges of decommissioning arrangement in the North Sea.
Taqa chief executive Leo Koot said that in one year Thomas has delivered on all the objectives which were part of a five year plan for the business putting it into a very strong position.
The judges were impressed by Thomas’s skill in negotiating a crucial deal for Taqa Bratani and his role in the development of the company
The Emerging Finance Director of the Year was Will Gold of Premier Hytemp.
Gold is a former big four accountant who had decided to take the plunge after 12 years with the firm and join Murray International Holdings in 2008 as group financial controller.
Within nine months he was promoted to become divisional finance director of its Premier Hytemp subsidiary.
The company which specialises in providing machined parts to the oil and gas, aerospace and other industries had been hit by the downturn and the judges were impressed by how he helped to put the business on a firm footing by effecting a turnaround of the company then finding the funding for a £34.5m management buyout in one of the most difficult financial markets in recent times.
The judges said his role is much broader than just financial. He has taken difficult decisions and taken his people with him.
The Public Not for Profit Finance Director of the Year is Alex McPhee, Executive Director of Finance and Corporate Support, East Ayrshire Council.
The panel were looking for an FD who has provided significant contribution to the development of their organisation and perhaps have made their mark with some special achievements.
The said there was no doubt that the winner of this category more than met them. The winner of this award is the finance director of a local authority which is widely recognised as high performing.
However our winner understood from the outset the implications of the UK Government’s intention to pursue continuous reductions in public sector spending for the council’s future services. In order to help the council make the right decisions and plan ahead for the next five years he led the council’s most comprehensive and innovative budget consultation to date with a wide range of events ensuring the involvement of communities, staff and key stakeholders.
Over 13,000 people read its proposals and almost 400 people attended its budget consultation events.
The judges said the winner is well respected within the public sector. He led the changes to transform strategy to five year budgets in an uncertain economic environment.
He has come up with good radical ideas that can provide a good service within budget.
The judges for the awards were PwC’s Scotland Regional Chairman Lindsay Gardiner, Johnston Carmichael chairman Andrew Shepherd, Colin Gibson who is Deloitte’s Head of Audit in Scotland and Scottish Business Insider Editor Alasdair Northrop.