Securing Top Financial Leadership for a Global Industrial Equipment Provider

The Client

Our client is a part of a global enterprise that provides equipment to the Industrial Gas, Chemical, and Refining/Petrochemical sectors. Headquartered in Switzerland, the company has consistently experienced revenue growth and strong earnings, leading to increased dividends. Operating in over 50 countries, the company has a significant focus on the US for future expansion. The North American division handles equipment assembly, service, sales, engineering, project management, and aftermarket services for the US and Mexico markets.

The Challenge

With plans for significant growth in the coming months and years, the US division was crucial to the corporate growth strategy. To bolster its foundation for sustained growth and success, the company sought new leadership for its financial function. Specifically, they were in need of a VP of Finance with a proven track record of driving finance within an organization with a sense of urgency. This role, as a member of the Leadership Team, held significant influence over operational profitability, growth initiatives, and the financial well-being of the organization.

The Solution

The ideal candidate was an accomplished financial executive known for unquestionable integrity, strong communication, and leadership skills. They must have demonstrated success as the financial leader within a highly successful organization. Competency in all aspects of the financial function, including controllership, accounting, GAAP and IFRS, financial reporting (both external and internal), cash management, treasury, and information systems, was essential. Moreover, the candidate had to have possesed the ability to collaborate with the senior leadership team to devise and execute a comprehensive growth strategy. Additionally, a shared-service mentality with field operations was crucial to ensure seamless information flow to all decision-makers.

Experience within a services business was mandatory, with preference given to candidates who have direct experience in multi-unit, field service operations within the energy sector. Furthermore, the successful candidate had to have demonstrated an operational track record of managing various business units and locations while optimizing support functions (e.g., HR, IT, Finance) to achieve business plan objectives. Experience in partnering and working with an international parent company was highly desirable.

Boyden's recruitment strategy involved targeting direct competitors, industrial manufacturing businesses, oil and gas service companies, and pump and valve manufacturers.

The Results

Boyden conducted a thorough identification exercise, identifying 87 potential candidates. We conducted in-depth screening of 19, of which seven candidates were long listed, including one recommended by the client. Collaboratively, we shortlisted four candidates for the client's interview process. The finalist candidate, a CPA, began his career in a large public accounting firm. He held the position of VP of Accounting and Finance at a competitor and previously served in Senior Director roles encompassing Internal Audit and Compliance, Risk Reporting and Controls, and Treasury for public, international companies. Described as having high integrity, low ego, and effective communication skills across all organizational levels, he emerged as the top choice.