Zornica (Zori) Zafirova

Executive Director
17+ years of experience with large-scale, results-oriented business transformation
Focuses on growth and profitability, due diligence, strategic operations
Serves as interim Chief Transformation Officer and Chief Operating Officer
Singapore
@alvarezmarsal
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Zornica (Zori) Zafirova is an Executive Director with Alvarez & Marsal Performance Improvement in Singapore. She brings more than 17 years of experience as an adviser and operator, driving large-scale business transformations and value creation programs. She has worked with clients in various industries, including consumer goods and retail, e-commerce, distribution and logistics, business services and technology. Ms. Zafirova has worked extensively with PE, family-owned businesses and corporates across APAC. 

Ms. Zafirova has led 10+ transformation programs, driving both revenue growth and cost optimization and delivering close to $1 billion in bottom-line impact. She led the turnaround of a large family-owned business in the apparel industry, optimizing the procurement and supply chain cost and processes, delivering significant savings in SG&A through an operating model reset and a revenue uplift for a total of $200 million EBITDA impact. 

Ms. Zafirova led an efficiency program for a multinational, focusing on digitization, including bringing customers to digital channels, automating onboarding and servicing and migrating from legacy infrastructure to cloud, as well as optimizing external spend. She also orchestrated the end-to-end transformation of a business services firm through pricing excellence, automating manual processes, and offshoring hundreds of roles, as well as overall reduction of third-party spend. Ms. Zafirova supported clients in the consumer goods and retail space with portfolio optimization, margin expansion and growth initiatives.

Ms. Zafirova also has extensive experience as an interim Chief Transformation Officer and Chief Operating Officer and is passionate about bringing about sustainable performance improvement through lifting the capabilities and culture of the clients she works with.  

Prior to joining A&M, Ms. Zafirova was the COO of Alibaba-owned e-commerce marketplace Daraz in South Asia, leading the logistics, customer experience, payments and HR functions. Prior to that, she was a leader in McKinsey & Co’s Southeast Asia Transformation Practice. 

Ms. Zafirova earned an MBA from INSEAD in Singapore and a master’s degree in business law from Groningen University in the Netherlands. She is a board member of a food bank in Indonesia and a frequent speaker and fundraiser for charitable giving. 

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