Elliot Grundmanis

Chief Financial Officer
Toronto, Ontario, Canada

Professional Overview

Elliot Grundmanis is an accomplished finance executive with over 15 years of experience driving strategic business growth and operational excellence across diverse industries. As the Chief Financial Officer at FIKA Cannabis, he is responsible for overseeing the company's financial operations, implementing robust financial strategies, and partnering with cross-functional teams to support the organization's ambitious expansion plans. Additionally, Elliot serves as a Strategic Advisor to Suppli, leveraging his extensive expertise in corporate finance, treasury management, and investor relations.

Experience Summary

Current Roles

Chief Financial Officer, FIKA Cannabis (2024-03-01 to Present)

• Provide strategic leadership and financial oversight to support FIKA Cannabis' rapid growth and market expansion

• Develop and execute comprehensive financial strategies to drive profitability, improve cash flow, and optimize capital allocation

• Collaborate with the executive team to identify and capitalize on new business opportunities, mitigate risks, and enhance operational efficiency

• Strengthen financial reporting and control frameworks to ensure compliance and transparency

Strategic Advisor, Suppli (2022-10-01 to Present)

• Provide strategic counsel and guidance to the executive team on financial matters, including capital planning, risk management, and merger and acquisition strategies

• Advise on the development and implementation of financial policies and procedures to support Suppli's long-term growth and profitability

Career Progression

Chief Financial Officer, Hudson's Bay (2020-04-01 to 2022-12-01)

• Played a pivotal role in the company's financial transformation, spearheading initiatives that resulted in over $75 million in cost savings

• Transformed the finance function, streamlining reporting processes and implementing cutting-edge data analytics to improve decision-making

• Collaborated cross-functionally to identify and capitalize on new revenue streams, contributing to a 12% increase in overall profitability

VP, Corporate FP&A and Capital Planning, Hudson's Bay Company (2018-09-01 to 2020-04-01)

• Played a key role in the organization's strategic planning and capital allocation processes, optimizing investments to drive long-term growth

• Developed and implemented innovative financial planning and analysis frameworks, enhancing the company's ability to forecast market trends and make informed decisions

Academic Background

Elliot holds a Bachelor of Business Administration (BBA) degree from the Schulich School of Business, York University, where he graduated with distinction and was recognized for his outstanding academic achievements.

Areas of Expertise

• Corporate finance and treasury management

• Financial planning and analysis

• Investor relations and capital markets

• Mergers, acquisitions, and strategic partnerships

• Risk management and compliance

• Financial transformation and operational optimization

Professional Impact

• Spearheaded the implementation of a new enterprise resource planning (ERP) system at Hudson's Bay, streamlining financial reporting and improving data-driven decision-making

• Played a pivotal role in securing a $500 million revolving credit facility, enabling FIKA Cannabis to accelerate its expansion into new markets

• Recognized as a thought leader in the cannabis industry, regularly speaking at industry events and contributing to leading publications

Conclusion

With his proven track record of financial leadership, strategic vision, and operational excellence, Elliot Grundmanis is poised to continue driving transformative change and delivering exceptional results for FIKA Cannabis and its stakeholders. His extensive expertise in corporate finance, combined with his ability to collaborate cross-functionally and drive innovation, make him a valuable asset to the organizations he serves.