Appointing an Interim CFO to Lead Financial Stabilisation and Strategic Transformation for a Global Lighting Solutions Leader
The Brief
A division of a leading multinational corporation specialising in lighting solutions required an Interim Chief Financial Officer (CFO) to guide financial strategy during a transitional phase.
Following the departure of the previous CFO, the company needed a skilled leader to stabilise financial operations and support future growth plans. The ideal candidate had to demonstrate strong financial governance, experience with multinational corporate structures, and the ability to align local operations with global objectives.
Increase in General Management Skills
According to the American Management Association, only 14% of businesses consider themselves “well prepared” to handle a sudden loss in senior management. Add to that the fact that it takes at least four months to fill an executive role, and an Interim Executive experienced in operations makes a lot of sense!
Increase in Customer Experience Skills
These days experience is everything. What truly makes for a good experience? Speed. Convenience. Consistency. Friendliness. And human touch. Our Interim Executives deliver a great experience while improving your customer experience!
Increase in People & Culture Skills
Organisations are constantly changing as they respond to internal and external pressures. Continual process improvement can enable team engagement and lead to growth. Interim Executives bring fresh eyes and effective industry best practice to the execution.
Increase in Data Analytics
Complex challenges require critical thinking and in the age of information-overwhelm it is imperative to have analytical minds at the table. These skills range across finance, data science, systems and more. An Interim Executive can be the right person to optimise your inputs to maximise your output.
The Process
Future Leadership’s Interim Executive team was engaged to source an interim CFO who could swiftly adapt to the organisation’s complex environment. After an in-depth briefing with the leadership team, it was evident that the candidate would need to go beyond basic financial oversight and actively contribute to the company’s global strategy.
Leveraging a network of pre-qualified finance executives with multinational experience, the search identified a candidate with a proven track record of leading financial transformations in large-scale organisations. The selected interim CFO’s background in corporate governance, compliance, and strategic financial management made them an ideal fit.
During the engagement, the interim CFO undertook key responsibilities, such as:
- Overseeing financial reporting to ensure alignment with global standards.
- Implementing financial controls to maintain compliance with international regulations.
- Leading a financial transformation to streamline budgeting, forecasting, and reporting processes.
- Collaborating with senior leadership across multiple departments to align financial strategies with broader corporate goals.
Emerging Capabilities
Financial Governance
Expertise in implementing and maintaining robust financial controls to ensure compliance and governance across entities.
Multinational Financial Management
Ability to oversee financial operations within large multinational corporations, aligning local strategies with global standards.
Financial Transformation
Proven experience leading financial transformation projects that drive efficiency in budgeting, forecasting, and reporting processes.
Strategic Alignment
Capacity to collaborate with senior leaders to align financial strategies with broader corporate objectives.
Compliance with International Regulations
Strong background in maintaining compliance with both local and international financial regulations.
The Outcome
Initially hired as an interim solution, the CFO made such a significant impact that their role was extended to a permanent position. Their contributions went beyond stabilising financial operations to implementing long-term strategic improvements.
Key achievements during the interim period included:
- Leading a financial transformation project that significantly enhanced operational efficiency.
- Developing and enforcing financial controls that improved compliance across local and global operations.
- Strengthening cross-departmental collaboration, resulting in more cohesive business planning.
The client provided overwhelmingly positive feedback, noting that the CFO exceeded expectations by delivering strategic value aligned with global business objectives. The success of the interim CFO ultimately led to an offer for a permanent role within the organisation.