Interim Leadership Services
Filling a temporary or project-based gap in C-level and senior leadership (CFO, COO, CEO, CIO, Pres, VP)
Do you need to bridge the gap to a permanent solution on your management team or install a temporary leader for a special project? FortéONE’s Interim Leadership solution provide deep industry and operating experience to keep a company focused during transition periods, while delivering meaningful results to the organization and helping to define the long-term executive leadership needs in conjunction with ownership and management.
When business issues that have gone unsolved for months are causing sleepless nights, it might be time to consider interim leadership. Circumstances that may call for an interim executive include:
Generational transition/succession planning
Preparing for sale or M&A
Unexpected departure of key personnel
Interim executives can serve as a vital resource to help companies regain business growth, prepare for a business exit or assist with generational transfers.
It is important to quickly communicate the interim placement throughout the company to maintain business progress and reduce resistance. A compelling message will be crafted collaboratively with our client and carefully delivered to core members of management, the company as a whole, and key customers/vendors.
Interim executives work with the business owner for as long as it takes to achieve his or her goals. Although the company’s needs determine the length of the engagement, in all cases the objective is to leave the company with the strategies and tools necessary to maintain long-term success.
During the interim placement, FortéONE can assist the company with screening and hiring of a permanent executive. Once the permanent person is hired, a seamless transition is ensured. Often the interim executive is asked to participate in future Board meetings and is available to assist the permanent executive as requested. In certain instances, the interim executive may be converted into the permanent hire by the company.
National Storage Systems Manufacturer
Firm was losing revenue and needed new leadership immediately. Experienced interim CEO was placed within one week. Supply chain savings of $800K were realized in 2 months, sales increased by 50% in 18 months, and on-time deliveries improved from 70% to 100%. Our executive was later hired by the company, which is growing rapidly and achieving historically high margins.
National Health & Fitness Products Distributor
PE firm had just taken a control position, and needed assurance that their capital was being deployed wisely. We assumed COO role and worked with the CFO and CEO to install processes and KPIs to promote and monitor performance. In stock inventory for large clients, including Wal-Mart and Dicks, increased from 52% to 98%. Working capital decreased. Firm was taken to market at the end of our engagement.
International Industrial Components Manufacturer
Mature industry with flat growth, firm had declining margins. FortéONE supplied both an interim CFO and interim CEO, and the following improvements were achieved within 16 months: ROIC rose from 5% to 19%, Gross Margins increased from 12% to 27%, debt reduced from $890K to $0, EBITDA tripled, and distributions in excess of tax of $2M. Enterprise value increased more than 15X.
Specialty Construction Company
Specialty construction firm had lost confidence in their CEO, were considering selling to an industry competitor, and asked FortéONE to assume leadership. We stabilized the operations, assisted with sale preparation and strategy (accelerating the successful sale), and ran the firm while highly engineered custom projects were completed and/or transitioned to the new owners—all the while managing 170+ vendors, 20+ jobs, $ millions in overdue payables, and the expectations of both old and new owners.
The majority of our consultants are available for interim leadership roles. We will work with you to identify the resource(s) with the functional and industry experience as well as the best cultural fit for your organization. They will work alongside business owners as temporary CEOs, CFOs, COOs or presidents.
An interim executive’s job can involve assisting with strategic change, undertaking high-level projects or serving as an executive coach to the management team. A good interim executive firm will be your trusted adviser.
Contact us today to learn more about our services and how we can help you fill a gap in your corporate leadership.