Trevor Parker

Recruiting an MD for a Niche Automotive Firm

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Recruiting an MD for a Niche Automotive Firm

Challenge

A niche automotive firm, owned by a family office, required a Managing Director (MD) to steer the company’s strategic direction, operations, and growth initiatives. This presented several challenges:

  1. Financial Strain: The previous management team had depleted a substantial portion of the allocated investment funds, necessitating the acquisition of additional capital to stabilise the company.
  2. Broad Skillset Requirement: The ideal candidate needed to possess a wide-ranging skillset, including expertise in international sales, dealer development, service management, manufacturing, branding, and marketing.
  3. Reputation Issues: Due to previous ownership, the company’s reputation had suffered, necessitating a compelling narrative to attract a high-calibre candidate to the role.

Solution

Trevor, our Managing Partner, utilised his renowned M.O.S.T format (Mission, Objectives, Strategy, Tasks) to craft a detailed job description. This structured approach ensured a comprehensive understanding of the skills and experience required for the new MD. The process involved:

  1. Mission: Define the overarching goal for the new MD – to revitalise the company’s market position and ensure sustainable growth.
  2. Objectives: Outline specific, measurable goals, such as increasing market share, improving operational efficiency, and enhancing brand reputation.
  3. Strategy: Develop strategic initiatives to achieve these objectives, focusing on expanding international sales, optimising dealer networks, and implementing robust marketing campaigns.
  4. Tasks: Identify the day-to-day responsibilities, such as overseeing manufacturing processes, managing financial performance, and leading the executive team.

Recognising the difficulty of filling this role, we leveraged our extensive network to identify candidates both within the UK and UK nationals working overseas. We focused on individuals with a blend of automotive industry experience, leadership skills, and a proven track record in driving business growth.

Outcome

Within six weeks, we successfully placed an MD who was eager to return to the UK after years of contracting overseas. The chosen candidate brought a profound understanding of the automotive market and a successful history of leading similar companies to growth and profitability. The new MD’s strategic vision and operational expertise revitalised the company’s prospects, paving the way for significant performance improvements and long-term success.

The MD implemented a series of strategic initiatives that not only stabilised the financial situation but also improved the company’s reputation in the market. Through effective leadership and a clear strategic direction, the company experienced a resurgence in market confidence and operational efficiency, setting a solid foundation for future growth.

Trevor Parker

Recruiting a Financial Controller for a PE backed Insurance broker

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Challenge

An insurance firm required a Financial Controller to oversee financial operations, reporting, and regulatory compliance in a dynamic and highly regulated industry.

Solution

We utilised our network and industry expertise to source candidates with a strong background in insurance finance, regulatory knowledge, and leadership skills.

Outcome

Within three weeks, we successfully placed a Financial Controller with extensive experience in the insurance sector. The candidate’s expertise in financial analysis, risk management, and compliance ensured the company’s financial processes were optimized and regulatory requirements were met efficiently.​

Trevor Parker

Honouring a guarantee.

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Honouring a guarantee.

Challenge

We don’t always get it right. We had previously recruited a Financial Controller for our client who could eventually, after 2-3 years step up into a much more senior role. Unfortunately, due to circumstances outside of the control of the client, they needed the FC to step up immediately and certainly within months, this was unrealistic for the incumbent FC.  

Recognising the expectations of the role were significantly above the original brief the client decided that they must increase the package on offer and recruit a replacement for the FC.

Solution

We started a whole new search, and despite this being a new brief at an increased salary, we honoured the original guarantee with no further fee due from the client.

Outcome

Within three weeks, we successfully replaced the Financial Controller with an experienced Finance director.

Trevor Parker

Merging Competitors in the Car Parts Industry

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Client: Large Private Equity Investor

Objective: To appoint an Interim Managing Director for the merger of two national car parts businesses.

Background

Our client, a major private equity investor, acquired two prominent national car parts businesses. Historically, these businesses were fierce competitors, each with extensive networks of local branches, significant stock holdings, and overlapping customer bases. This acquisition aimed to consolidate their market position and improve operational efficiency. The critical challenge was to merge these entities smoothly while maintaining customer service standards and maximising cost efficiencies.

Challenges

Duplicate Branch Network: Both businesses operated extensive branch networks, often in the same locations. This led to redundancy and increased operational costs.

Stock Duplication: Having two separate inventory systems resulted in duplicate stock holdings, leading to inefficiencies and higher carrying costs.

Competing Terms: The businesses offered different terms to the same customer base, potentially causing confusion and customer dissatisfaction.

Duplicate Teams: Both companies had their support teams in marketing, HR, finance, and operations, leading to unnecessary duplication and inflated overheads.

Strategy

To address these challenges, the private equity investor required an Interim Managing Director with substantial experience in mergers and acquisitions, specifically within the retail and automotive sectors. Our firm was tasked with identifying and placing this interim leader.

Key Considerations:

• Consolidation vs. Retention: Evaluating the pros and cons of reducing the branch network versus retaining multiple branches in close proximity.
• Operational Efficiency: Streamlining operations to reduce costs while maintaining high service levels.
• Cultural Integration: Merging two distinct corporate cultures into a cohesive and efficient single entity.
• Customer Retention: Ensuring that the merger would not disrupt customer relationships or service quality.

Recruitment Process

1. Understanding Client Needs: We conducted thorough consultations with the client to understand their strategic goals, timelines, and specific requirements for the interim role.
2. Candidate Identification: Leveraging our extensive network, we identified potential candidates with the requisite experience in managing complex mergers and extensive knowledge of the automotive parts industry.
3. Evaluation and Shortlisting: Candidates were evaluated based on their track record in similar roles, leadership style, and ability to manage large teams through significant organisational change.
4. Client Interviews and Selection: Shortlisted candidates were presented to the client, who conducted in-depth interviews to assess their fit for the role.

Appointment and Impact:

We successfully placed an Interim Managing Director who had previously led several high-profile mergers in the retail sector. Their approach included:

1. Branch Network Analysis: Conducted a detailed analysis to determine the optimal number of branches, focusing on customer accessibility and operational efficiency. This analysis resulted in a plan to consolidate certain branches while maintaining strategic locations to ensure market coverage.
2. Stock and Inventory Management: Implemented an integrated inventory management system to reduce stock duplication and optimise inventory levels.
3. Unified Customer Terms: Standardised customer terms and conditions to eliminate confusion and strengthen customer relationships.
4. Team Restructuring: Evaluated and restructured support teams to eliminate redundancies, focusing on retaining key talent and enhancing team effectiveness.
5. Change Management: Led a comprehensive change management programme to integrate the two corporate cultures, ensuring a smooth transition and maintaining employee morale.

 

Results

• Cost Savings: The consolidation of branches and support teams led to significant cost savings, exceeding initial projections.
• Operational Efficiency: The streamlined operations improved service delivery and reduced lead times, enhancing customer satisfaction.
• Market Position: The unified entity strengthened its market position, becoming a more formidable competitor.
• Employee Morale: Effective change management and clear communication ensured high employee morale and retention of key personnel.

 

Conclusion

The successful placement of the Interim Managing Director by our firm played a crucial role in the seamless merger of the two car parts businesses. The strategic and operational improvements realised through this leadership appointment underscored the value of our tailored recruitment approach in addressing complex business challenges.

This case study exemplifies our commitment to delivering exceptional recruitment solutions, enabling our clients to achieve their strategic objectives effectively.

Trevor Parker

Recruiting a Commercial Director for an Online Sports Retailer

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Recruiting a Commercial Director for an Online Sports Retailer

Challenge

Our client, a £15m turnover privately owned business, required an experienced Commercial Director to assume responsibility for procurement, including product selection and pricing. This task involved several specific challenges:

1. Transition of Responsibilities: The founder, who had been personally handling procurement, admitted she would find it difficult to step away from these duties. The new Commercial Director would need to manage a delicate transition while respecting the founder’s established methods and insights.
2. Need for a Data-Driven Approach: As the business expanded, the limitations of a “gut feel” approach to procurement became evident. The increasing volume of transactions amplified the impact of errors, necessitating a more data-driven, analytical approach to procurement.
3. Quality Control and Supplier Relationships: With 95% of the products sourced from overseas, predominantly China, quality control was minimal, relying heavily on reputation and trust. The new Commercial Director needed to appreciate and maintain these long-standing supplier relationships while introducing more robust quality control processes.

Solution

To address these challenges, we implemented the following strategic approach:

1. Understanding the Role Using the M.O.S.T Model: We utilised the M.O.S.T (Mission, Objectives, Strategies, Tactics) model to gain a comprehensive understanding of the role. This allowed us to define the specific requirements and expectations for the new Commercial Director.
2. Targeted Candidate Search: We conducted a focused search for candidates with substantial experience in online sports retail. Additionally, we considered professionals from businesses that procured FMCGs from China, ensuring they had relevant procurement experience and an understanding of international supply chains.
3. Balancing Experience and Respect for History: It was crucial to find a candidate who could introduce a data-driven approach without undermining the founder’s established supplier relationships. We sought individuals who demonstrated both innovative thinking and respect for the business’s existing practices and history.

Outcome

Within four weeks, we successfully secured a Commercial Director from a leisure goods business. Although the candidate did not have direct experience with the client’s specific products, this proved advantageous. The founder retained control over product selection, leveraging her deep knowledge and instinct, while the new Commercial Director implemented a data-driven approach to streamline and enhance the overall commercial process.

This balanced approach ensured a smooth transition, preserved vital supplier relationships, and introduced much-needed analytical rigour into the procurement process. The new Commercial Director’s expertise in data analytics and strategic procurement complemented the founder’s vision, ultimately driving improved efficiency and supporting the business’s continued growth.

 

Trevor Parker

Recruiting a Commercial Director for an online sports retailer

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Recruiting a Commercial Director for an online sports retailer

Challenge

Our client, a £30m turnover privately owned business, required an experienced commercial director to assume responsibility for procurement including product selection and pricing.

Specific Challenges:

1. The founder was currently undertaking this responsibility and by her own admission, was unlikely to be able to step away easily.
2. The business had outgrown the somewhat “gut feel” approach to procurement.  As volume requirements grew, errors became more significant, the client required a data driven approach.
3. 95% of the products were sourced from overseas, mainly China with little to no quality control, quality had been built by reputation and trust. This was a challenge, because we felt it was important to recruit a person who respected the history, rather than an individual who wanted to do things their way and sacrifice those relationships for the sake of a process.  

Solution

As always, the M.O.S.T model was created, so we could understand the role properly.

We conducted a targeted search to identify candidates with extensive experience firstly looking at online sports retailers and then looking at businesses who also procured FMCG’s from China

Outcome

Within four weeks, we secured a Commercial Director from a leisure goods business although they didn’t have direct experience in the particular product, this worked well, by allowing the founder to maintain control of product choice, while the new Commercial Director added a data driven approach to the entire commercial process of the business.

Recruiting a Head of Compliance for a PE-Backed Specialist Automotive Insurance Business.

Challenge

A specialist automotive insurance business, backed by private equity (PE), required a Head of Compliance to ensure regulatory adherence and risk management in a highly regulated industry.

Solution

We targeted candidates with a strong background in compliance within the insurance sector, familiarity with regulatory frameworks, and experience in PE-backed environments.

Outcome

Within four weeks, we placed a Head of Compliance with a comprehensive understanding of regulatory requirements and a track record of implementing effective compliance programs. The candidate’s expertise in navigating complex regulatory landscapes and implementing robust compliance frameworks ensured the company’s operations remained compliant, mitigating risks and safeguarding its reputation. The Head of Compliance’s strategic approach and proactive measures not only ensured regulatory adherence but also enhanced operational efficiency, enabling the business to thrive in a competitive market environment.

Trevor Parker

Recruiting a Managing Director for an Online Insurance Brokerage

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Our client, a niche online insurance broker of modest size, required a sales-oriented Managing Director (MD) to replace the incumbent MD. This scenario presented several specific challenges:

1. Confidentiality: Maintaining confidentiality was paramount since the existing MD was still in place. This necessitated discreet handling of communications, even with internal staff at our client’s organisation.
2. Regulatory Environment: The insurance sector’s regulatory compliance is critical, yet balancing this with the need to generate income and ensure profitability was essential. Thus, finding a candidate with the right blend of regulatory acumen and commercial drive was vital.
3. Small Business Dynamics: While the current business was modest, it was under private equity (PE) ownership, presenting significant growth potential. The new MD needed to be adept at navigating the intricacies of a small business poised for expansion under PE guidance.

Solution

Our approach was methodical and strategic, beginning with the creation of a M.O.S.T. (Mission, Objectives, Strategy, Tasks) format role profile. This comprehensive profile served as the foundation for identifying the ideal candidate.

We then conducted a targeted search to identify candidates who demonstrated the following:

• Strong regulatory discipline, ensuring compliance without compromising commercial goals.
• Experience in small business environments, with a proven track record of fostering growth.
• Leadership in sales and marketing within the financial services sector, essential for driving business development and profitability.

Outcome

Understanding the appeal of joining a team with substantial growth prospects under PE ownership, we emphasised the potential rewards of such an opportunity. Within four weeks, we successfully secured an experienced Sales and Marketing Director from a financial services background. This candidate was not only ready to step up to the role of MD but also excited about contributing to the business’s growth trajectory.

By meticulously balancing confidentiality, regulatory requirements, and the unique dynamics of a small, PE-backed business, we were able to identify and recruit a candidate who met all critical criteria, ensuring our client’s continued success and growth.

northco

Recruiting an MD for a Niche Automotive Firm

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