HELPING A ‘BIG 4’ ACCOUNTANCY SELECT A HIGH PROFILE CFO
A telco with a reputation for innovation had historically been successful because of its outstanding technical capability. Rather than its outstanding leadership. The global recession and industry advances eventually led to financial crisis. Resulting in a lack of confidence in the leadership of the business by their bank. Moreover, internal leadership issues and conflicts were rife in the business. So an exacting match in terms of personality fit would be needed if the CFO was to win hearts and minds quickly.
One of the big 4 accountancy practices was asked to review the finances and appoint an interim turnaround COO. The role was to focus on achieving either inward investment or a trade sale. While instigating an urgent turnaround in the short term.
The OPG was known to the accountants. So it was natural to engage us in providing an executive assessment of the recruitment shortlist.
Using psychometric testing and leadership simulations, one of our consultants met with each candidate for about three hours. Interviewing them in-depth and feeding back the assessment results. Questions around experience were largely left to the client. While we used competency based questioning and future visionary interviewing to obtain the deep data needed.
The hire not only won the trust of the owner managers quickly. But was able to manage the bank relationship and cut costs over a two year period. Eventually, a trade sale was agreed. And the Telco reconstituted with lower overheads and a streamlined business model. The telco also engaged The OPG to provide a comprehensive leadership assessment of the senior team. As part of its new M&A preparation exercise.