Stability through expertise: How an interim CFO from HANSE Interim ensured continuity and stability during a critical phase.
The starting situation
The company from the electronics sector, specializing in the development, manufacture and distribution of electronic measuring devices and instruments, is part of an international aerospace group.
Faced with an unexpected challenge, the sudden loss of the CFO left the finance team without direct leadership.
With a turnover in the billions, the company is one of the global leaders in the electronics & defense and space sectors. The parent company initially took over the monthly financial statements and reporting, but was unable to offer a sustainable solution in the long term.
An experienced interim CFO was sought in order to ensure continuity in day-to-day business, particularly with regard to projects to improve team performance and one of the most important projects, the conversion of internal reporting processes to SQL-based reporting systems.
Solution and implementation
HANSE Interim provided an experienced interim CFO with fluency in French – a valuable prerequisite for working with the parent company’s team.
The first challenge was to reorganize and systematize the work processes in order to broaden the team. This included involving the team members in previously centralized tasks and catching up on projects that had been put on hold, such as the plant inventory.
By taking a pragmatic approach, for example by integrating the system inventory into existing testing processes, rapid and sustainable progress was achieved.
The result
Within a very short space of time, the team was stabilized and the continuity of the CFO’s tasks ensured. In addition, the interim CFO prepared the gradual induction of a new, permanent CFO so that the finance team could return to its usual structure. During this transition phase, the company benefited from the flexibility and expertise of the HANSE interim manager.
Conclusion
This project story illustrates how crucial a quick and professional intervention is to navigate companies through unforeseen situations. HANSE Interim was not only able to fill the immediate gap, but also lay the foundations for long-term stability and growth in the company’s finance team. With clear strategies, pragmatism and a team-oriented approach, they were able to make the transition phase seamless and lay the foundation for future development.
What experiences have you had in transition phases? Feel free to share your thoughts and suggestions in the comments!
With best regards
Your HANSE Interim Management
Andreas Lau
