Interim deputy CFO helps distribution company restructure for future growth
The Situation
Amid fast-paced growth, a leading French distribution company with a €2bn turnover wanted to alleviate some of the current CFO’s workload by creating a new deputy position. Company leaders knew it would take time to find the right person, so in the meantime they asked IXPA partner WAYDEN to provide an interim deputy CFO, who could start immediately.
The Solution
IXPA’s partner WAYDEN put forward what the client agreed was the perfect candidate with a finance director-level background, experience of managing large, multi-country teams and a successful track record of transformation projects at distribution companies. Key to the appointment was also the interim’s personality and ability to win the trust of the CFO and business units underneath him.
The interim deputy quickly took on responsibility and ownership of a number of tasks including financial reporting, consolidation, and budgetary and strategic planning activities; managing the central purchasing unit; taking charge of the group’s new treasury and financing department; and overseeing dotted-line management of the finance teams within the company’s national and international business units.
The Outcome
Eighteen months in and the appointment has been an unqualified success. The interim has provided the experience and personal skills to oversee the finance restructure and free up the group CFO to focus on vital medium- and long-term strategy. He also introduced the seamless roll-out of a digital invoice system. The project has proven so successful that the company has since hired three more interim managers from WAYDEN an accountancy director, HR BP and a compliance and controlling director.
The Client Says:
“We are very impressed with the level of seniority, knowledge and experience demonstrated by the interim deputy CFO. In addition, the end-to-end mission monitoring with WAYDEN and the interim manager is both lean and efficient.”
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