Financial business transformation for an international private equity backed logistics business.
Boyden was approached to identify an interim CFO for an international PE backed logistics business with key offices in Europe and Africa, several international subsidiaries and complex inter-company financial reporting.
The incumbent had recently left the business and they required an experienced interim to work on transforming the finance function, streamline reporting and rebuild stakeholder confidence while also working with the business to identify a permanent solution to lead the group finance function long term.
Within a few weeks an experienced international interim CFO was identified with experience within the logistics arena. The interim needed to be multi-lingual and needed to be based within easy travelling distance of key office locations. They wanted someone with a strategic background who was capable of being hands on with excellent interpersonal skills. The interim CFO was tasked with standardising systems, building and strengthening the finance team. They managed complex and international stakeholders, giving more visibility to the business across the group and with investors.
The interim revised and refreshed the management accounts, implemented a clearer financial structure, embedded KPIs, developed cashflows by business unit and ensured this was delivered regularly and on time. They strengthened relationships with banks and reinstated confidence in finance from the board and with the investors. They implemented better controls and processes within the group while managing a clear audit process. The interim worked with the business for 12 months and worked with the investors to identify a permanent CFO to lead the business following the finance transformation.