The CFO position had been vacant for an extended period at a municipal utility in a large Canadian town. The executive search was ongoing but a candidate had yet to be selected. Year-end approached and the CEO required a senior financial resource to provide timely and accurate budgeting and forecasting, along with robust strategic business planning.
The CEO engaged our CFO Resources practice to find an interim senior financial resource to supplement the leadership team. The resource was required to provide an enhanced skillset to ensure that end-of-year planning, budgeting and forecasting was collaborative, comprehensive and cohesive. We reviewed our database of candidates and found an interim CFO with appropriate industry experience who would work with management in an efficient manner.
Under the guidance of Farber, the services provided by the interim CFO met the expectations of the CEO and the Board of Directors by delivering clear and complete 1, 3 and 10 year financial and business plans. The interim CFO and the CEO were successful building consensus around the plans and the company commenced the new year with a clear mandate. Once the permanent CFO was hired, Farber and the interim CFO facilitated the transition, enabling an efficient transfer of knowledge, expectations and responsibilities.