01 | Critical issues
Critical issues:
An international information services firm was in the midst of a complex divesture and acquisition, led by its longstanding Chief Financial Officer (CFO). After suddenly falling ill, the CFO chose to leave the role a year before her planned retirement date. The Deputy CFO was in line to take over as part of the official succession plan. But he was not deemed ready to step up or to lead on the divesture and acquisition – which now faced a costly delay or possibly a total breakdown.
With speed of the essence, the firm engaged an interim CFO with significant M&A experience. The interim focused their insight, credibility and expertise on seeing the deals through to completion. At the same time, they provided mentoring to the Deputy CFO to take on extra responsibility as a bridge to the top finance role. The divesture and acquisition were only delayed by a matter of weeks. The Deputy CFO transitioned smoothly to CFO three months earlier than planned, equipped with the additional wisdom and knowledge imparted by the interim.
Progressing business deals and business people
Next situation
Critical issues: 3 | Ensuring milestones are met
Situation 2
01
Interims keep you moving forward with confidence
A professional services firm, and several of its key competitors, had suffered a potentially major data breach. It needed to react fast to protect customers, retain their loyalty and give shareholders confidence in the future of the business. Having contained the original threat within hours, the company immediately sought out a specialist to help deal with the fallout and prevent future instances.
Within days, a high-level cybersecurity interim was on-site, joined the following week by two specialist interims to provide hands-on technical input. The first task was to lead immediate security enhancements while advising on communications strategy. Then, the assignment was to conduct a full security audit and a review of incident response planning.
By deploying interims so quickly, the company was able to respond faster and more credibly than most of its similarly affected peers. This minimized reputational damage and led to a slight net increase in customers. The audit and review process identified numerous security, systems and staffing improvements. The interim then extended the assignment by two months to help hire and onboard a new permanent Head of Cybersecurity to take on the implementation.
Turning a threat into an opportunity to improve
Situation 1
Next situation
Critical issues: 2 | Progressing business deals and business people
A private equity (PE) firm had acquired a high-potential medical technology company 18 months previously. The leadership team within the acquired company had been given realistic targets and timelines for scaling the business. But the company was repeatedly failing to reach its milestones, putting the whole PE investment strategy at risk. The disappointing performance of the Commercial Director was under particular scrutiny.
With drastic steps needed, the Commercial Director was dismissed, and a carefully selected interim put in their place. The interim brought in a growth mindset and enterprise leadership style that was lacking in the previous incumbent – completely reshaping business development, sales and customer fulfillment. The interim was so excited by the untapped potential of the company, they took on the Commercial Director role permanently, and made rapid progress on catching up to the PE milestones.
Ensuring milestones are met
Situation 3
Next situation
Critical issues: 1 | Turning a threat into an opportunity to improve
The Korn Ferry interim network gives you access to professionals and executives who have proved themselves in crises and guided companies through volatile times. They understand how to establish stability, mitigate risk, and minimize disruption. More than this, they know how to ensure business strategy and performance stay on track. Korn Ferry moves fast to find the interims to keep you moving.
A professional services firm, and several of its key competitors, had suffered a potentially major data breach. It needed to react fast to protect customers, retain their loyalty and give shareholders confidence in the future of the business. Having contained the original threat within hours, the company immediately sought out a specialist to help deal with the fallout and prevent future instances.
Within days, a high-level cybersecurity interim was on-site, joined the following week by two specialist interims to provide hands-on technical input. The first task was to lead immediate security enhancements while advising on communications strategy. Then, the assignment was to conduct a full security audit and a review of incident response planning.
By deploying interims so quickly, the company was able to respond faster and more credibly than most of its similarly affected peers. This minimized reputational damage and led to a slight net increase in customers. The audit and review process identified numerous security, systems and staffing improvements. The interim then extended the assignment by two months to help hire and onboard a new permanent Head of Cybersecurity to take on the implementation.
Turning a threat into an opportunity to improve
Situation 1
Next situation
Critical issues: 3 | Ensuring milestones are met
Next situation
Critical issues: 2 | Progressing business deals and business people
Next situation
Critical issues: 3 | Ensuring milestones are met
Next situation
An international information services firm was in the midst of a complex divesture and acquisition, led by its longstanding Chief Financial Officer (CFO). After suddenly falling ill, the CFO chose to leave the role a year before her planned retirement date. The Deputy CFO was in line to take over as part of the official succession plan. But he was not deemed ready to step up or to lead on the divesture and acquisition – which now faced a costly delay or possibly a total breakdown.
With speed of the essence, the firm engaged an interim CFO with significant M&A experience. The interim focused their insight, credibility and expertise on seeing the deals through to completion. At the same time, they provided mentoring to the Deputy CFO to take on extra responsibility as a bridge to the top finance role. The divesture and acquisition were only delayed by a matter of weeks. The Deputy CFO transitioned smoothly to CFO three months earlier than planned, equipped with the additional wisdom and knowledge imparted by the interim.
Progressing business deals
and business people
Situation 2
The Korn Ferry interim network gives you access to professionals and executives who have proved themselves in crises and guided companies through volatile times. They understand how to establish stability, mitigate risk, and minimize disruption. More than this, they know how to ensure business strategy and performance stay on track. Korn Ferry moves fast to find the interims to keep you moving.