How an Interim CEO can assist during an international company acquisition

Background:

Our client, a US-based medium-sized specialist machinery manufacturer with €100 million in annual revenue, encountered significant challenges integrating a newly acquired German company into its existing operations. The previous German management team lacked the experience to handle the complexity of this integration, leading to technical issues and an accumulation of unresolved tasks, particularly in finance and accounting.

Solution Approach:

To address these challenges, the company appointed an Interim CEO. The interim executive we recommended brought extensive experience in finance and a solid track record in CFO and CEO roles within restructuring contexts.

As Interim CEO, he undertook a comprehensive review and restructuring of the HR and finance teams, initiated a commercial reassessment of ongoing projects, and started the integration of IT systems. He also ensured effective communication with the US headquarters, adapted local German practices, and led the implementation of a new IT system developed by an external partner.

Outcome:

The presence of the Interim CEO resulted in a successful repositioning of the company within seven months, with the integration of the German subsidiary into the US operations completed efficiently. The Interim CEO played a crucial role in concluding the contract with the previous management and in recruiting and onboarding a new permanent CEO.

Thomas Krentscher, Manager for Interim Management at Robert Walters in Düsseldorf, observes:

Foreign companies often face knowledge gaps when acquiring a business in Germany.

While various issues and challenges may arise, we have the expertise to address them. Change management and integration are areas where an internationally experienced interim manager, especially an Interim CEO, can provide exceptional value."