Fares Awwad - Chief Financial Officer (CFO)
Professional Overview
Fares Awwad is an accomplished finance executive with over 30 years of experience. As the Chief Financial Officer (CFO) of NextgenID, he oversees all financial, accounting, and strategic planning functions, ensuring the company's continued growth and profitability. Fares is also a seasoned board member, contributing his expertise in financial management, business development, and corporate governance to organizations across various industries.
Experience Summary
Current Role
As the Chief Financial Officer (CFO) of NextgenID, Fares is responsible for leading the company's financial strategy, overseeing accounting operations, and driving financial performance. He collaborates closely with the executive team to ensure the efficient allocation of resources, identify growth opportunities, and implement cost-saving measures. Under Fares' financial stewardship, NextgenID has achieved significant improvements in profitability and cash flow management.
In addition to his CFO role, Fares serves as a Partner and Board Member at Sanadeeg, a private investment firm, and as a Member of the Board at SLOWCOLOR, a leading sustainable fashion brand. In these positions, he leverages his extensive financial expertise to provide strategic guidance, assess investment opportunities, and contribute to the overall governance and direction of the organizations.
Career Progression
Prior to his current roles, Fares had a distinguished career in the pharmaceutical and healthcare industries. He served as the Deputy Group CEO for Financial, Administrative, and Legal Affairs at Arab Center for Engineering Studies (ACES), where he was responsible for overseeing the organization's financial operations and strategic planning. Fares also held various finance leadership positions at West-Ward Pharmaceutical Corp. (a division of Hikma Pharmaceuticals), including Chief Financial Officer and Financial Officer/Controller.
Throughout his career, Fares has consistently demonstrated his ability to drive financial performance, implement effective cost management strategies, and contribute to the overall business success of the organizations he has served. His deep understanding of financial operations, coupled with his strategic thinking and leadership skills, have earned him a reputation as a trusted and respected finance executive.
Academic Background
Fares holds a Bachelor's degree in Accounting and Finance, which he obtained from a prestigious academic institution. His educational background has provided him with a strong foundation in financial management, accounting principles, and decision-making, further enhancing his professional capabilities.
Areas of Expertise
- Financial management and strategic planning
- Accounting operations and financial reporting
- Cost optimization and resource allocation
- Business development and investment analysis
- Corporate governance and board-level advisory
Professional Impact
During his tenure as CFO at NextgenID, Fares has played a crucial role in driving the company's financial performance and strategic growth. He has implemented robust financial controls, improved cash flow management, and identified new revenue streams, leading to a significant increase in profitability and market share.
As a board member, Fares has contributed his expertise in financial management and corporate governance, helping to shape the strategic direction of Sanadeeg and SLOWCOLOR. His insights and guidance have been instrumental in the organizations' ability to navigate complex market conditions and capitalize on emerging opportunities.
Conclusion
Fares Awwad is a seasoned finance executive with a proven track record of success in driving financial performance, implementing cost-effective strategies, and contributing to the overall success of the organizations he has served. His extensive experience, coupled with his financial acumen and strategic decision-making skills, make him a valuable asset to NextgenID and the other boards he serves on. Fares is well-positioned to continue making a significant impact in the finance and business arenas.
