Case Study: Interim CIO, Industry Sector: Private Equity
Our CIO Interim Practice supports Organisations and Boards experiencing change and transformation, gap management challenges, and pressure points. A confidential service built on over 40 years of experience, our networks of Interim Executives allow us to introduce trusted senior Interim Managers within days so that business momentum is not lost.
Norman Broadbent Interim Management were asked to support the COO of a leading European mid-market Private Equity firm. ‘Top 5’ in its field, they needed to find a senior Interim Head of Technology to initially work alongside, then take over from the CIO. The were a number of immediate issues to deal with, but primarily the management had lost confidence that Technology could deliver to the organisation. This meant more management time was being spent addressing shortfalls, downtime and other issues, while limiting strategic development. In addition, the board wanted an IT leader who could not only “get it done”, but also one that could contribute to Portfolio activities as well. The Board were keen for us to support the COO and provide a ‘C’ level Interim Manager who would right the ship, get technology working again and start a review , rebuilding confidence throughout the organisation.
We arranged to meet the clients in their London Offices, and took an in-depth brief. Given the sensitivity of the role, the client also asked us to work under NDA. We started to immediately to engage with the Norman Broadbent network, and set about meeting and briefing relevant Interim Managers, all under NDA. Within 72 hours were able to submit four qualified, available and referenced candidates to the client. The top three were interviewed, and two candidates went through to a final meeting with a New York based board member. Feedback from this was both were appointable, so when the first candidate pulled out at point of offer, we had a very strong fall back candidate who accepted the role.
The client appointed our Head of Technology within a week of our first conversation, and he started the following week. Immediately, the Interim Manager was able to identify key issues in service delivery, and remedy them to the delight of the stakeholders. Furthermore, he began rebuilding the trust that had broken down, utilising this when he stepped into the CIO role. He also began to put in place a new strategy, including an enterprise cloud migration, allowing this truly global firm to work seamlessly 24/7 from any office. In addition to all the core challenges, he was also asked by the firm to support with due diligence on future acquisitions, as well as supporting and advising the leadership of existing portfolio companies. The firm were delighted, renewing him a number of times, and he was described by one ExCo board member as “simply a gamechanger”!
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