The Situation
This UK based fenestration manufacturer had been acquired by a leading European Group over 10 years ago.
After the Groups full review, they concluded that the UKs grasp on commercial finances was irregular and inaccurate. The then Finance Manager had not managed stock analysis, monthly group reporting and margin control.
The Consequences
This was communicated by the VP of the Group as a turnaround opportunity. The UK manufacturer was operating in the red. For nothing to change would mean further redundancies and possible closure of the sites in the UK,
The Challenge
Group required a Finance Director from a manufacturing environment who lived within commuting distance of the main site. Additionally, they were unwilling to flex on this person needing exposure to reporting financials back to a foreign group.
The Approach
Given the tight brief it was imperative that we communicated the limitations to this talent pool. Having mapped out the regional market, this constraint was very real. In fact, we made the group aware that there were less than 40 potential targets.
The Result
Having interviewed six headhunted candidates, I recommended three for client first stage. One excelled and was fast tracked through both second and final, Group CFO stages.
Does this resonate?
Lacking insight, let alone control of one of your acquisitions financial performance is catastrophic to making sound plans and investment.
Let me help – mgoldsmith@mgheadhunting.co.uk 07570 740490
