CFO – AIM-Listed Tech Firm
Telecoms & Technologies
Background
This AIM-listed technology and consulting business had experienced a period of turbulent trading eventually resulting in a breach of banking covenants and an emergency funding round. The business had replaced its CFO twice during this period and needed to refocus its Finance function and rebuild confidence with investors.
Client’s Need
With the CFO position vacant, our client urgently needed to recruit a seasoned CFO with experience in a listed environment. The individual needed to quickly retake control of the Finance function, develop strong working relationships with the Executive and Finance team and build bridges with investors.
Grosvenor Clive & Stokes Service
To remove the immediate pressure on the business, GC&S recommended an experienced interim CFO known to us through our work for other clients. This individual was able to commence work immediately and to ‘steady the ship’, giving the Executive Chairman time to make a considered permanent appointment.
Through a mix of structured networking with our clients and contacts in the Technology sector and research-based headhunting, we were able to present a number of high quality candidates for this appointment. Key was to ensure that whoever was appointed would integrate well with the Management Team and be respected by City analysts and investors, one of whom was particularly activist and was represented on the Board.
The Outcome
After a thorough interview and assessment process and external referencing with prominent Technology sector analysts, a successful appointment was made and, after less than a year, the CEO and CFO led the business through its acquisition by a major international company at a very substantial premium.
Why Grosvenor Clive & Stokes?
- GC&S has been recruiting for the Technology and IT services sector for almost 20 years and has a strong understanding of the challenges faced by businesses in this sector. This allows us to quickly understand our client’s brief and assess those candidates most suited to the role.
- We have extensive experience of working with clients undergoing periods of high growth, transformation or restructuring and are adept at ‘selling the story’ or dealing with the concerns of candidates thereby ensuring the strongest shortlist from which our client can choose.
- Having suggested the option of using an experienced Interim CFO, our network of contacts in the senior Finance community allowed us to appoint an individual immediately reducing the pressure needed to find a permanent appointee.
- GC&S has a track record of appointing CFOs, FDs and senior Finance professionals for a wide range of listed and privately owned companies in the UK and internationally. This, combined with our network of senior executives in other functions, gives a broad base of contacts from whom we can elicit recommendations and referrals enabling us to find suitable candidates faster and more accurately.
