Interim Management of a Global B2B Training Company
Following an out-of-court restructuring and resulting institutional ownership change, one of the world’s largest corporate training and workforce performance companies faced a senior leadership void as well as operational disruption due to senior talent turnover.
To improve liquidity and working capital across the company, we initiated an action plan focusing on aged receivables, which resulted in an increase of $6 million of liquidity above budgeted levels
How we helped
Conway MacKenzie was engaged to serve as the interim chief executive officer and provide interim management and leadership, with the added responsibility of recruiting additional senior talent for roles in IT, finance, and at the operating division level. Because of the company’s forecasted liquidity stretch following the restructuring, in addition to stabilizing and recruiting for senior leadership positions, our interim management role included improving liquidity, implementing retention and incentive programs, and providing leadership for transformation projects across the organization.
While serving as interim CEO, Conway MacKenzie helped the company to recruit for its CFO and CIO positions, in addition to the permanent CEO role. Additionally, we implemented an executive-wide management incentive plan and retention bonus program to improve recruiting and minimize turnover. This incentive plan aligned executive financial rewards with the value created by the company for its investor group.
We also led the transformation projects for one of the operating companies, resulting in a consolidated Salesforce platform for domestic and international business activity. To improve liquidity and working capital across the company, we initiated an action plan focusing on aged receivables, which resulted in an increase of $6 million of liquidity above budgeted levels.