Resourcing to simplicity – easier said than done

Kubis took the audience through the company’s rapid transformation from spin-off to standalone listed company, sharing key lessons from the treasury function’s unique journey. Following its separation from Electrolux Group and listing on the Stockholm Stock Exchange in 2020, Electrolux Professional  Group had to start from scratch. Unlike many carve-outs, there was no legacy infrastructure to build on.

Instead, the team began with a focus on simplicity, leaning into the principle of parsimony. “If you have competing ideas to solve the same problem, go with the simpler one,” said Kubis, inspired by a quote from St. Thomas Aquinas. That mindset helped the treasury function avoid unnecessary complexity in its early stages. “We need to resource to simplicity, but simplicity is easier said than done.”

Fundamentals

Kubis emphasised that success began with the fundamentals: “Step one: we need to make sure cash management is in place. That the banking infrastructure, the foundation of any treasury, is in place.” From day one, all payment flows functioned smoothly, an achievement he credits to strong early planning and the involvement of key team members.

The treasury was built step by step, first stabilising, then moving toward strategy. A major milestone came last year with the launch of Electrolux Professional’s  Medium-Term Note programme and its debut in the Swedish capital markets. Kubis acknowledged that, for a company of their size, some might see this as an ambitious move, but for a group with long-term M&A ambitions, readiness matters.

The session also explored the power of partnerships. Kubis advised treasurers undergoing similar transformations to assess their banking relationships carefully. “Look for the early signs of whether a partner wants to be with you in the long run,” he said. He credited Electrolux Group’s treasury for supporting the spin-off with strong foundations and constructive collaboration.

Priorities

Still, not everything went perfectly. Kubis openly reflected on the drawbacks of combining treasury and M&A under one function in the early stages. When M&A projects intensified, treasury priorities sometimes lost focus.

Above all, Kubis returned to one consistent theme: people. “Talent is key,” he said, highlighting the importance of team members who were with him from the start. In a small team with limited resources, individuals matter more than ever.

Speaker:

Paulo Kubis, Head of Treasury, Electrolux Professional Group

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