We were asked by a Private Equity team and Chair to review the board of a portfolio company to analyse the strengths of the team and identify opportunities to accelerate their investment plan.
We used a mixed methodology of anecdotal consultation and tools designed to provide insight on individual’s attitude, values, energy and working style, to take a 360 degree review of each individual’s strengths and weakness and how these combined to create a management team.
We identified that the business was being frustrated by a lack of timely finance and management information, preventing them from making quick and effective decisions. Additionally, that the team (due to changes which had already been implemented) were not working optimally together. We worked with the CEO to identify the strongest fit in the profile of a CFO to join the team. Once appointed, we worked with the CEO to implement a plan that enabled the incumbent CFO to exit positively post a controlled hand over to their successor.
Alongside this, we put in place a programme of workshops to create new ways of working for the leadership team to support their success as a team. This created a new leadership culture and so enabled us to ensure that the appointment of the new CFO had the desired catalysing effect on the business.