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How fast-acting interim leadership sparked an important opportunity
When a large business within the retail sector had its Chief Financial Officer (CFO) suddenly leave the business, Oakwood Resources was approached to quickly secure an interim to provide full support to the Chief Executive Officer (CEO) to oversee this transition.
Oakwood Resources' targeted approach to assessing interim managers' skills and experiences led to an opportunity that the CEO had not considered possible at this time.
The situation:
Due to unforeseen circumstances the CFO of six years had to quickly leave his position and the business. This created several challenges to the organisation as it had been on a high-growth trajectory. Ideally, experienced financial expertise is needed to guide organisations as they rapidly grow so that they don't disrupt the delicate balance between profit and expenditure.
Without their established financial leader in place, the CEO was concerned that they would be unable to scale up whilst protecting profitability. Time was of the essence and the CEO needed to find a similar level of trusted financial expertise in place within mere days.
The solution:
Oakwood Resources stepped in, understood the situation, and quickly presented the CEO with three interim CFO options that met the immediate criteria. Oakwood also suggested various solutions to meet the current situation's needs.
During a ‘light bulb' moment, the CEO identified that one of the preferred interims had successfully led an Initial Public Offering (IPO) during a previous assignment, presenting an attractive set of skills and experiences that could be used to the organisation's benefit.
Oakwood's interim manager was deployed and started his assignment upon the request of the CEO the following Monday.
The outcome:
The new interim CFO was able to step in and understand the immediate needs of the business and guide it through its growth incentives. The interim CFO and CEO have forged strong relationships with the investors and have a key focus for the company's future, and a possible IPO in the future.
The CEO noted:
“I am extremely impressed with how the accuracy of Oakwood's suggested interim professionals. Our chosen interim identified strengths in the team and opportunities to improve a number of processes that will in turn further the opportunities for growth.”
Find out how Oakwood Resources could help you
Oakwood Resources combines the hands-on specialist expertise of interim management with the strategic framework delivery of a consulting firm to enable a resource-based, knowledge-led solution. This blended model provides unparalleled and unprecedented value by enabling businesses to accelerate problem-solving and transform their operations strategically and cost-effectively.
By combining the strategic capability of consulting firms with the tactical delivery of interim management, your business gets agile and bespoke project solutions that yield results.
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