CEO Case Study: Integrated Interim and Search Solution

Problem

The Norman Broadbent Group were tasked by the Board of a Bank to support them in replacing their CEO. Whilst the performance of the Bank had been acceptable for number of years, the Board wanted to see greater growth. As it had been rudderless for a period of time, they needed fresh leadership. Although the Bank were looking for a permanent successor, such were the regulatory problems, they decided to appoint an Interim CEO whilst the Search was underway. This situation was heavily NDA’d, and the risk to the business was likely to be significant were details to leak into the market.

Solution

After taking an extensive brief, we set to work discretely contacting our Interim CEO network. As this role was as much about tackling immediate cultural as well as banking/regulatory challenges, we had to be exceptionally diligent in ensuring we achieved the right ‘fit’. We identified three strong candidates within 72 hours, all of which were interview within days. The client identified one exceptional candidate who had further meetings with the board and Regulator under strict secrecy. The decision was made to appoint them as Interim CEO, at which point the process was triggered to exit the incumbent CEO. A day after the incumbent CEO began exit talks with the Bank, the Interim CEO was introduced ensuring continuity and as little upheaval as possible for the team.

Outcome

Once our Interim CEO was in post, the search commenced to identify a permanent CEO. Again, we were asked to work under NDA with our Interim CEO playing a key role in shaping the role profile to future proof the Bank and give the regulators renewed confidence. Following a number of interviews, a preferred candidate was identified, and discussions began around authorisation for the role. This was successful and, after nearly a year in post, the Interim handed across the reigns to the new CEO, with a month handover period to ensure a seamless transition.

Norman Broadbent was able to help this client by working discretely behind the scenes to mitigate risk, provide a highly qualified Interim who could steady the ship, begin the change process and manage any regulatory risk. All of this was achieved whilst delivering on the search to find a long-term CEO.

If you would like to confidentially discuss how The Norman Broadbent Group could help you overcome your business or people challenges, please contact, Mike Davies on 07590 244 869 or via email at mike.davies@normanbroadbent.com