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Energizer Holdings & Edgewell Personal Care

Finance transformation
post spin-off (2015)

Context

Context In July 2015, Energizer Holdings completed a tax-free spin-off that separated its Household Products division (batteries and lighting – Energizer brand) from its Personal Care division. The original company was renamed Edgewell Personal Care (ticker: EPC), while the battery business became standalone Energizer Holdings, Inc. (ticker: ENR). Wilkinson Sword remained with Edgewell Personal Care.

Challenge

These specific issues indicate your company needs an immediate intervention:

As part of the post-spin-off transformation, all financial activities for the French and Swiss branches had to be transferred from local EMEA offices to a new UK Shared Service Center (SSC) in High Wycombe, Buckinghamshire. Accounts payable were simultaneously externalized to Poland, and the balance sheets of the two newly independent entities had to be fully separated and treated as distinct companies.

I was assigned full responsibility for the French and Swiss operations (Energizer France: €75m revenue; Edgewell Personal Care France, including Wilkinson Sword: €55m revenue) on a 12-month contract, later extended to 15 months.

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Energizer France Revenue

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Wilkinson Sword Revenue

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12-month contract, later extended to 15 months

Solution

Working closely with the UK CFO, I defined a clear three-milestone roadmap leveraging the region-wide SAP ERP system:

3-month diagnostic phase (Q3 2015):

Conducted in-depth process analysis through one-on-one interviews with the five-member French finance team. Addressed French GAAP compliance requirements, statutory reporting software, tax filing deadlines, and regulatory complexities. Coordinated with local authorities and proactively engaged the Works Council to secure buy-in and mitigate risks associated with organizational change.

Transition & capability build (next 3 months):

Hired and onboarded a General Accountant for the French-speaking entities. Implemented new SSC workflows, documented procedures, and delivered targeted SAP and financial statement training.

Balance sheet separation (Q4 2015):

Led the accurate split of financial accounts and balance sheets between Energizer and Edgewell, ensuring clean entity-level reporting from day one.

I also established and maintained a dedicated point of contact with the Polish accounts payable team to ensure seamless, accurate, and timely processing.

Results

Fully transfered

By September 2015 (two months ahead of plan), the first two milestones were complete and operations were fully transferred to the UK SSC.

Independent

By December 2015, the balance sheets were cleanly split with no major incidents, delivering two fully independent finance teams aligned with corporate objectives.

Communication

The structured transition, strong stakeholder management (local authorities, Works Council, and Polish colleagues), and proactive communication ensured continuity, accuracy, and transparency throughout the transformation.

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Operational track record

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