Ranked in the UK’s top five automotive retailers in terms of revenue, our client was confronted by a series of formidable challenges. These included a checkered corporate history marked by share suspensions during a widely publicised investigation by the Financial Services Authority (FSA), the impact of the COVID-19 pandemic, and a poor reputation regarding diversity and inclusion.
Motivated by a new CEO and Board, the company sought to appoint a Group Chief Financial Officer (CFO) who could spearhead the company’s financial transformation, rebuild investor relationships, and restore its reputation. Emphasising the importance of expertise in a disrupted consumer-facing industry where regulatory compliance was paramount, the company aimed to explore candidates outside of the automotive sector – a sector that has received limited recognition within the broader retail industry.
With a cross-sector perspective, the Search prioritised candidates with diverse backgrounds in retail financial services, online retail, gaming, and ecommerce. Through our wide-ranging Search process, we delivered a shortlist of six qualified candidates, comprising an equal representation of three female and three male professionals. The Shortlist also included two candidates belonging to ethnic minority groups, emphasising the commitment to promoting diversity and inclusion.
Meeting the brief in terms of the specifications for diversity, the chosen candidate, a professional from the retail financial services sector, emerged as the successful candidate who had succeeded in guiding their businesses through ecommerce disruption. Since their appointment as the new CFO, our placement has introduced fresh perspectives backed by an abundance of experience.
Their contributions have been pivotal in rebuilding investor relationships, revitalising the company’s reputation, and leading the financial transformation of the organisation.
