An investment group acquired a services company with the intention of implementing a buy-and-build operation in the sector. However, the search for a suitable top executive to lead this operation was postponed for several reasons.

Situation

The main reason was the need to gain depth in the team and the company before a final choice of a managing director could be made. In addition, the tight timelines for completing the acquisition meant that the establishment of a board of directors could not be realized in time.

Challenges

The investment group faced the challenge of ensuring the continuity of the business while laying a solid foundation for future growth. It was essential to stabilize the organization and maintain staff commitment, while also keeping an eye on long-term strategic goals. Moreover, a management structure had to be put in place that could support both organic growth and future acquisitions.

Action

To meet these challenges, an interim manager was appointed as managing director. The interim manager was tasked with leading the company and ensuring stability. This included:

• Taking over leadership: Taking over day-to-day management and creating calm within the staff.
• Evaluation and improvement: Evaluating the existing team and establishing a management committee to strengthen corporate governance. This resulted in a review of the organization chart, aimed at maximizing the contribution of each business area.
• Budget planning: preparing a budget for the following year, focusing on the involvement and responsibility of the new management committee.
• Preparing new CEO: Helping define the profile for the new CEO based on the company’s performance and needs.

Results

With these actions, the interim manager laid the foundation for the future strategy and ensured that the company was ready for the next phase of growth.