Case studies
These examples illustrate how interim executives bring specialist expertise to facilitate significant change. Each assignment plays to the interim's strengths and previous experience - minimising risk and leaving lasting value.
From time to time, interims fill an unexpected gap in a management team - but the majority of assignments are planned to help an organisation adjust to changing circumstances and new challenges.
New business management skills at the behest of stakeholders and advisors
As a national provider of essential care services working both with private and NHS clients, our client's business had reached a crucial stage in its development. Additional working capital had been sourced bringing in an additional shareholder with their own requirements for detailed information.
The founder CEO, who had numerous other business interests, was concerned that this enterprise might suffer if he was unable to give it 100% attention. The decision was taken to recruit an Interim CEO for nine to twelve months.
Within a week, AshtonPenney Interim secured the ideal candidate with in depth experience of the sector and the issues surrounding their complex business model. In addition, he was an inspirational leader, able to delegate effectively to the incumbent experienced management team, while attending to some immediate fundamentals. Personal credibility with staff and colleagues at all levels was essential, in addition to being immediately acceptable to the new shareholders.
Adding value through focused resources
A c100m manufacturer of consumer healthcare products had identified an acquisition target. The target was a divisional activity within a much larger group and was provided with support services by its parent. Of broadly similar size to the acquirer's existing business but based in mainland Europe, the target company's integration would present significant challenges to existing management. In advance of the proposed deal there were a number of areas of potential added value that could be addressed by a focused resource.
This resource was not available within the management team without detrimental knock on effect to existing activities. The decision was taken to look for interim assistance. The candidate specification called for direct experience of similar product manufacturing together with strong corporate finance skills plus the ability to scope an effective framework for servicing the combined activities with adequate support covering IT, finance and HR.
AshtonPenney Interim identified and recruited the chosen candidate within ten days. The appointed
executive worked alongside the acquisition team and took full responsibility for the integration phase.
Addressing significant resourcing issues
Operating in the support services arena within the healthcare sector, the client had identified serious issues in its consultant retention and attrition rates. A new MD realised that the company's recruitment costs were extremely high compared to his previous experience with a competitor. The business operated globally and retention rates in countries in its international markets were particularly poor.
The HR Director was asked to review the situation. The subsequent report indicated that the real problem centred on the interface between the HR function and line managers. Both thought they controlled the hiring and development process resulting in tension and inefficiency.
AshtonPenney Interim was asked to identify a heavyweight HR generalist who could work in real business partnership with the operating units and effectively review the entire process of recruiting and retaining key consulting staff.
In six months the successful candidate had transformed the market perception of the business, reshaped the recruitment supplier profile, instigated new induction and continuing professional development programmes and vastly improved both morale and retention rates. Senior managers were supported with coaching for existing staff and training in best practice recruitment tools. This was delivered while allowing line managers to own the process and not feel restrained by centralised HR controls.
Driving the process of integration
In the medtech sector, Private Equity investors had combined three investments into one company. All three had exceptional research and product development leadership but lacked the required operational business structure. Melding the three companies whilst allowing each to thrive was crucial to all parties. It was decided to recruit both CEO and CFO on an interim basis to drive this process.
In order to maintain the chosen exit profile it would be essential that both candidates could enhance the group's profile in a specialised market with considerable complexity and long term equity potential. At the same time the key to future success remained with the scientists who had originally spun the idea out of academic research. They would respond best to candidates who could demonstrate an understanding of and an empathy with the products.
This created a demanding candidate specification calling for clear headed commercial acumen based on strong academics followed by relevant professional experience. A crucial issue here was to find candidates who could work in a small team of highly intellectual managers and yet be well versed in the way that much larger corporates operate.