(*) As a measure of confidentiality, the identity of the interim manager and the client are changed
1. BACKGROUND
ROBETTE is a women’s ready-to-wear company owned by an investment fund. The company is growing strongly and is starting its international development. After an initial phase of growth in France, it has just hired a new Managing Director in charge of accelerating development.
Following the departure of the CFO, the ROBETTE company launched a headhunt to find a successor. In the meantime, she asked WAYDEN to find an Interim CFO.
For ROBETTE, the stakes are high and require in particular to:
- Ensure financial reporting to the Management and the shareholder,
- Opening new points of sale abroad,
- Manage the Treasury as closely as possible and in particular by renewing CT (Campaign Credits) financing and ensuring supplier payments,
- Manage a small and young team and following the arrival of a chief accountant, supervise the internalization of accounting currently managed by an accounting firm,
- Establish with the General Management the new Strategic Plan
WAYDEN quickly identified Marc GERLAND who, in addition to his experience in the position, also has a great knowledge of the sector: he has worked for major players in the Fashion and Accessories sector.
In addition, he has had the opportunity to work in companies located at the “start-up” stage and in similar contexts where the page is still blank and everything remains to be implemented: team recruitment, information systems, third-party relations, processes…
In addition, he has already been in contact with investment funds.
2. MISSION
Marc’s start was not made easy since on the day of his arrival, the head of management control also announced his departure.
But after a few days of observation and discovery, he quickly established himself both with his teams and internal teams as well as with the Management and the Fund by showing his ability to quickly take charge of the subjects but also by his ability to listen and communicate a lot.
He quickly took his role as interim CFO in hand.
But, as the Covid-19 epidemic spreads, Marc must also work on forecast scenarios in order to see their impact on the Business and on the Treasury (“stress tests”). He must quickly assess the impact of store closures, establish priorities in supplier payments and obtain from the Banks the extension of the Campaign Credits in place.
Beyond his technical competence, his main success is revealed in his ability to keep his cool in this very particular context and thus to reassure both the teams and the Management.
3. BALANCE SHEET
At the end of a mission that lasted a few months, he handed over the files to his successor.
For its part, WAYDEN provides close monitoring to compensate for communication made less easy by Covid-19 and the lockdown period.