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Francis Tirelli is the Chairman and CEO of Deloitte Italy
A renowned businessman with over 30 years of experience, Francis Tirelli is currently the Chairman and CEO of Deloitte Italy, where he manages 3,000 professionals and over $500 million in revenue. Deloitte Italy is a member firm of Deloitte Touche Tohmatsu (DTT), for whom Frank Tirelli worked in the United States for nearly two decades.
At Deloitte Italy, Francis Tirelli has overseen a complete restructuring of the firm’s administrative overhead costs. This includes hiring a new CFO and management team, and implementing goals for financial controls, including revenue, headcount, and costs. Frank Tirelli also managed an overhaul of Deloitte Italy’s professional services division, decreasing the employee turnover rate from 38 percent to 12 percent in just five years and increasing partner compensation from $200,000 to $750,000 per partner in the same period. From 2005 to 2010, Francis Tirelli has grown Deloitte Italy’s revenues by $100 million (a 33 percent increase) and its profits by $60 million (a 200 percent increase).
Prior to joining Deloitte Italy, Francis Tirelli was the President and CEO of Herbalife International, a distributor of vitamin and herbal supplements, weight-management products, and skin-care aids. Frank Tirelli’s relationship with Herbalife began during his career at Deloitte & Touche, where Herbalife and its CEO, Mark Hughes, were among his clients. After Hughes’ death in 2000, Frank Tirelli was offered the position of Presdient and CEO and placed on Herbalife’s Board of Directors. By bringing in a new management team and instituting additional financial controls, Frank Tirelli and his new team were able to introduce 10 strategic initiatives to grow Herbalife’s business.
Though Herbalife had seen double-digit declines in the five fiscal years before Francis Tirelli began working for the company, the new CEO was able to turn the business around, ultimately increasing the company’s sales by 20 percent. Frank Tirelli was able to sell Herbalife for $775 million, effectively doubling its stock price over a two-year period and gaining a 100 percent price increase over the highest amount offered in the previous two years.
Francis Tirelli's Schools
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Depth Perception
December, 2010
by Francis Tirelli
As Chairman and Chief Executive Officer of Deloitte Italy, I am responsible for a wide range of tax services; assurance, advisory and audit services; legal services; and consulting services. A member firm of Deloitte Touche Tohmatsu (DTT), Deloitte Italy’s 3,000-strong team is able to leverage a worldwide network of over 170,000 staff in 140 countries. I am pleased that we at Deloitte have our finger on the pulse of technology and information system trends. The 56-page Deloitte report “Depth Perception: A dozen technology trends shaping business and IT in 2010,” is a must-read for CIOs who are looking for ways of solving pressing business problems. In particular, the report separates recent technology trends into two categories: Emerging Enablers and Disruptive Deployments. One key technological enabler is management systems that are engineered to provide sophisticated ways of controlling information chaos. Pieces of discreet data on wide-ranging corporate concerns can now be integrated, whether they involve customer locations, sales categories, customer profitability across lines of business, supplier costs, or global product performance. This offers companies new ways of leveraging information as a strategic asset, utilizing it as part of Enterprise Information Management (EIM) systems. The process of creating an effective EIM system involves developing an overall view of corporate challenges, then embedding bottom-up analytical processes into an effective system. According to the report, this can involve mastering information quality, data management, and process management capabilities through initiatives focused on specific business areas, such as supplier-spend analysis and customer care. Companies should be careful not to base EIM systems on over-complicated processes and data that cannot translate into actionable goals. At the same time, companies should not wait for the next fully-packaged technological solution to be presented to the public at large. Innovation must be balanced with a realistic assessment of how new IT pathways can be utilized to improve bottom-line performance. To access the full Depth Perception report and learn more about the wide range of financial services offered at Deloitte, visit www.deloitte.com.
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Francis Tirelli Explains Mergers and Acquisitions, Francis Tirelli
February, 2011
By: Francis Tirelli
As Chairman and CEO of Deloitte Italy, I have been dealing with Mergers and Acquisitions for years. There always seems to be a shroud of mystery surrounding this particular financial strategy, so I’d like to shed some light on what Mergers and Acquisitions, otherwise known as M&A, is all about.
Basically M&A is a corporate strategy that involves the buying, selling, and combining of different companies to help a company grow without having to create another business entity. When a company purchases another it is called an acquisition. This can be a private or public transaction and either friendly or hostile. In friendly acquisitions the companies are involved in the negotiations, but if the acquisition is hostile, it means that a company does not want to be taken over or that the board of directors does not know about the transaction. There are different types of acquisitions, including a reverse merger. This is a merger in which a private company with a lot of growth potential buys another publicly listed company called a shell which means that it has limited assets. This way the private company can become publicly listed and raise its financial prospects quickly.
The terms merger and acquisition do mean different things, but sometimes it can be hard to differentiate between the two. A good rule of thumb is to remember that generally acquisitions involve a takeover of a company in which the target company stops doing business and becomes part and parcel of the buyer’s company. A merger happens when two companies agree to join, all stocks are surrendered and new company stock is issued in its place.
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