Chief Financial Officer

The Role:

Confidential Client

The Client:

The Client

Following private equity investment, Moon Executive Search were invited to tender by a market leading entrepreneurial tech business based in central London, who were seeking to appoint a search firm to manage a highly confidential CFO appointment.

The background was that the person would provide high-level financial information and strategic insight to the Board and Investors and offer a significant track record, coupled with the hunger and capability, to drive sustainable growth.

We were specifically chosen for this assignment as we were able to demonstrate how we adapt well to the organisational sensitivities and the specific needs of our clients. We could also demonstrate our track record in successfully conducting numerous assignments for private equity firms and their portfolio companies over the past twenty years, advising on executive appointments and board builds. As such, we were delighted to be selected to undertake this highly prestigious and confidential search.

The Challenge

Upon instruction, Moon Executive Search signed an NDA with both the investors and portfolio company to allow us to receive in depth information regarding the commercial and financial targets for growth. Armed with this information, we spoke with all key Board Directors to understand the key cultural considerations to appointing another Board Director and a high priority for the search was to consider candidates who could evidence top line experience within an investor-led business, with a reputation for delivering growth against stretch financial targets and a proven ability to develop and lead a high-performance finance function.

The CFO was to work closely with the Chair, CEO and wider Board and therefore would require a strategic mindset, underpinned by strong financial reporting, governance and commercial experience to direct all financial activities and advise stakeholders accordingly. Therefore, from the outset of this search, we sought a visionary leader who could interrogate numbers, offer detailed financial modelling and provide an assurance to investors. Given the European aspirations of the business, we also especially considered CFOs with international exposure in a growth business, particularly with high end discretionary product at its core.

In conducting the search, we were also mindful of the need for the utmost confidentiality at all times, considering our communication channels at each point of the process.

Our Approach

From the outset, Moon sought to evidence our knowledge, experience, and expertise in understanding investor ambitions and our successful track record of appointing high calibre financial leaders into portfolio companies. Following meetings with the Chair, CEO and Investment Director to gain a detailed brief and establish the search protocols, we appointed two Directors from Moon onto the search to act as key contacts to ensure effective and transparent communication at every stage of the search.

We then began to map the existing market sector in both the UK and Europe. By longlisting in this way, we were quickly able to build up a depth analysis of both the direct sector competitors and those operating in aligned industry sectors where candidates could offer our client invaluable transferable innovation, growth and product related knowledge. Once we had explored CFO profiles in this way, we engaged with specific targets, utilising candidate NDAs and then assessed their background, experience and suitability in further calls and meetings. This allowed us to discuss a tighter shortlist directly with the Board and Investors.

The Solution

In terms of the focus of our candidate meetings, we asked a series of our questions designed to establish suitability, ranging from technical knowledge and transaction experience through to private equity experiences, cultural alignment and their understanding of the CFO brief. This mixture of competency, behavourial and experience verification questions allowed us to produce an Insights Report for those candidates selected for the shortlist and recommend for interview with the Client.

Moon also administered a full suite of psychometric and behavourial assessments prior to final interview stage with the Investors and provided a feedback loop for the candidates in terms of presentation requirements.

The search resulted in the successful appointment of a CFO who brings c20 years’ experience operating in senior finance and operations management teams, both within early investor stage and multi-million-pound organisations. They offer our client significant exposure to investor relations, with a proven record of achieving maximum benefit for exiting shareholders and PE investors. In addition, the candidate brings a high-level brand that is known for cutting edge innovation.

Simon Quinn, Director of Search said:

‘This was a highly complex search from the outset, working with multiple stakeholders and involving significant research and coordination to deliver within the exacting timeframes laid out by the investors. Key to our success was our direct exposure to key decision makers throughout the campaign, collecting critical information from all parties quickly.’

The Investment Director, commented,

‘Moon once again delivered against our brief. Simon, Vanessa and the team kept us regularly informed and produced an excellent shortlist. We have every confidence in our appointed CFO as the company enters further funding rounds. We will undoubtedly use Moon again.’