Executive Vice President & Chief Financial Officer – $2 billion leading regional retailer and wholesale distributor
Search Assignment
Chief Financial Officer
Client Organization
$2 billion regional Retailer/Wholesale Distributor
Supplier of 40,000 private label and national brand products
Customer base – 330+ independent stores
Midwest base
Client Situation
The new CEO, the company’s former long-term CFO, needed a high caliber executive to fill the CFO position.
Key Requirements
Experience as a CFO in a retail-related business
Acquisitions and divestitures experience
CPA
Challenges
The CEO indicated it would be difficult for him to be objective, as he had held the CFO role for a long time. The board was involved to offer balance. The board required that talent at all competitors be evaluated and results presented.
Consultation/Search Execution
Over several months, Ron conducted thorough research of all major distributors/retailers in the nation and presented his findings to the board. The board and Ron concluded that several general retailers had talent with the greatest potential.
Successful Result
Ron attracted a division Vice President from of the nation’s top three retailers to the role. This executive was a CPA with 11 years of experience with Arthur Andersen.
Successful Placement Promotion Path
Shortly after joining the client as CFO, he was promoted to Executive Vice President and CFO, and given additional responsibility for technology and real estate. He currently fills this role.