The Company
Industry: Software Development
Entity Type: Private Equity-Backed
Operating Region: United States
Size: $30M
The PROBLEM
The client’s CFO was leaving, and ended up departing two weeks before scheduled. The company was left in a lurch without a transfer of institutional knowledge. They were also behind on their monthly reporting and needed to develop a budgeted financial statement for their private equity firm.
The Solution
McDermott + Bull Interim Leaders deployed a seasoned financial executive with a background in turnarounds and private equity. The consultant received their MBA from Harvard and is a Certified Turnaround Professional, making them well-equipped to take on the complexities of the role. This individual provided over three months of coverage for the client while they conducted the search for a permanent CFO.
The RESULT
The consultant bridged the three-month gap between the departure of the incumbent CFO and the permanent replacement. This interim leader also prepared important documentation of financial statements, completed outstanding monthly reviews as well as the fourth quarter review, and manually fixed a string of calculation errors in the organization’s financial statement process.
ANNUAL FINANCIAL STATEMENT
Developed and completed the company’s first annual budgeted financial statement.
4 MONTHLY REVIEWS
Completed four monthly reviews in a little over two months for the private equity group.
monthly financial statEments
Fixed, analyzed, and documented the preparation of monthly financial statements.
James Hickey
Senior Managing Director, McDermott + Bull Interim Leaders
hickey@mbexec.com
James Hickey serves as a Senior Managing Director for McDermott + Bull Interim Leaders, helping companies with mission-critical needs for talented executives during key points in their life cycle. He also works closely with Private Equity Groups to help their portfolio companies when there are gaps in leadership or to provide additional support to the team during critical transactions.