CASE STUDY

INTERIM CFO BRIDGES GAP BEFORE PERMANENT HIRE

THE CLIENT OPPORTUNITY

The Chief Financial Officer (CFO) of an oncology-focused biotech start-up was planning on leaving the company. They needed an Interim CFO to help during the transition period and to fill the subsequent gap while the search for a permanent CFO was conducted. Time was an important factor for the search; the company required someone as soon as possible who could hit the ground running in their highly competitive industry.

 

THE ASHTON TWEED SOLUTION

The client required that the candidate have extensive CFO experience within a biotech/pharmaceutical organization in addition to a background in oncology. To succeed in this role, the chosen professional would also need public accounting experience and the ability to work virtually for their company in the Midwest United States.

Confident businessman entering office

The Ashton Tweed team delved into research with the client’s time sensitivity in mind. As experts in interim placement for the life sciences, the team was able to quickly target financial executives interested in short-term positions. A total of 16 qualified candidates were selected and screened for the client’s review. The interview and hiring process was efficiently executed by both the search firm and hiring company, resulting in a strong and sensible hire.

The chosen candidate met all of the requirements listed above, including experience in oncology, public companies, and start-ups. This professional was able to work virtually for the needed number of hours, and had a solid 30 years’ experience in the industry. Most importantly, this candidate matched the company’s urgent timeline and was able to begin working immediately.

 

THE BENEFITS

Timing is critical in the start-up culture, especially in the biotechnology sector, and executive turnover could be fatal to the success of an otherwise promising company. The entire process took just 18 days from the time the job was available to when the candidate was hired. The client company was able to move forward seamlessly, and they were able to begin their permanent CFO search with the added security that their finances were in good hands in the interim.

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