A $150 million family owned, multi-line transportation, warehouse and
distribution business had decided to part ways with their CFO for both
business and personal reasons.

Challenges:

• Management of the business was transitioning to the 2nd generation. The CFO was aligned with the father. The new, younger company leaders wanted to develop their own team.
• The CFO was a minority owner and resolution of the ownership interest and employment contract needed to be negotiated.
• The CFO was involved in all aspects of the business including Accounting, HR, IT and leading an operating division.
• The company had a complex multi-bank financing structure that had been orchestrated by the incumbent CFO.
• A complex multi-state tax picture needed to be considered in screening candidates.

Solution:

• Lauber Business Partners and the Vice President of Recruitment met with the family to gain an understanding of the situation and recommend a course of action.
• Lauber Business Partners was engaged to complete a “quiet replacement” to respect the many years of service that had been given by the outgoing CFO.
• Lauber Business Partners provided an interim resource with CFO competence to bridge the gap between the outgoing CFO and the new hire.
• A detailed profile of what the owners were looking for in their new CFO was completed and used as the basis of the search.
• The successful candidate had exceptionally strong financial management skills to address the complex nature of the business and in addition had transportation related experience.​​

What this meant to company:

• The 2nd generation ownership was able to add an important member to their management team for the future.
• Because the Lauber Business Partners' process started with a detailed profile, all family members were able to agree in advance with what their new CFO should look like.​

The value of a Part-time Lauber Business Partners' Search Process:

• Lauber Business Partners is able to utilize their financial management expertise to help owners understand what skill level and behavioral characteristics will bring the most value to their business.
• A profile driven process is used to ensure all candidates presented match with the client’s unique needs.
• Being able to focus only on qualified candidates saves valuable management time.

​If your business is faced with these types of challenges, now is a good time to consider the help of a seasoned Lauber Business Partners, Inc. veteran who has been through it before. Contact Lauber Business Partners, Inc. today to learn more.