The Client
An international automotive supplier with billions of euros in sales faced a double challenge: the CFO position was vacant, while the company was undergoing a phase of profound transformation – characterized by electromobility, cost pressure, and global supply chain risks. The finance organization needed immediate stability and, at the same time, a strategic realignment. To close this critical gap, the company opted for a combined solution of interim management and executive search.
The Challenge
The CFO vacancy jeopardized key projects such as refinancing, the introduction of new controlling systems, and the implementation of cost-cutting programs. At the same time, the market for top financial executives in the automotive sector was highly competitive. A purely traditional executive search would have taken several months—time that the company did not have. The challenge was to ensure operational capability in the short term while simultaneously identifying a suitable long-term leader who could strategically accompany the transformation.
The Solution
The solution: An experienced interim CFO immediately took over operational responsibility, stabilized financial processes, and managed critical projects such as liquidity management and cost optimization. At the same time, a customized executive search process was launched, tailored to the specific requirements of the automotive sector and the company's transformation agenda. Close coordination between the interim manager, executive search consultants, and the board of directors enabled the requirements to be specified and candidates to be evaluated in a targeted manner. This not only bridged the vacancy, but also strategically utilized it to position the finance organization for the future.
The Results
Within six weeks, the interim manager had made the CFO function fully operational. Critical projects were stabilized, refinancing was successfully completed, and initial cost-cutting measures were implemented. After ten months, the new CFO from the executive search process took up his post – with a clear mandate for transformation and growth. The combination of interim management and executive search not only ensured continuity, but also created measurable added value: reduction of financial risks, acceleration of strategic projects, and a seamless handover without any loss of knowledge. The company was able to continue its transformation as planned and strengthen its financial organization in the long term.
Looking for experienced interim leaders to drive transformation and ensure business success? Contact Dr. Thorsten Dörr, Managing Partner at Boyden Interim Management, to explore tailored solutions for your organization.
