142 – Interim CFO – Turnaround – Lithuania

About Our Client:

Our client is a well-known private equity fund operating in the European area, with portfolio companies in Central and Eastern Europe, as well as the Balkan and Baltic countries.

For one of their portfolio companies headquartered in Vilnius, we are seeking an Interim CFO to restructure the business and prepare the company for future growth.

The portfolio company is a dynamic and ambitious player in the Lithuanian market, specializing in e-commerce and last-mile delivery logistics. They are currently undergoing a transformative turnaround phase to enhance profitability and operational efficiency.

Project Description:

• Rapidly assess and restructure financial and operational objectives, including margins and spending, to boost profitability.
• Monitor cash flows closely to minimize cash burn and build a reliable midterm financial plan while managing and minimizing cash outflows from the planned capital injection from the Group.
• Implement necessary changes to improve operational efficiency, reduce costs, and optimize cash flows, including negotiations with vendors.
• Develop and implement key performance indicators (KPIs) to monitor progress towards the turnaround goals.
• Verify the accuracy of current operational and financial reporting dashboards and implement additional KPIs as required.
• Support the Group in recruiting a permanent finance manager for the business.
• Regularly report on the status of the turnaround plan to the board of directors and Group CEO.
• Cooperate effectively with the local CEO, who is the founder of the business and will be running commercial activities to meet agreed objectives in the turnaround process.

Interim Manager Required Skills:

• 10+ years of experience in finance management roles.
• Proven track record of 2-3 turnarounds or restructurings with a solid understanding of the change management toolkit.
• Hands-on approach and ability to operate in a start-up environment.
• Strong communication skills to interact clearly with relevant stakeholders, including employees, suppliers, and clients.
• Experience working within a private equity environment.
• Sector experience in e-commerce, last-mile delivery segments, or logistics.
• Excellent analytical skills coupled with an innovative and out-of-the-box mindset.

Key Requirements:

• Turnaround and Restructuring track record
• E-Commerce; Last mile delivery know-how
• Private Equity / Venture Capital experience

Type of Assignment:

• Interim

Scope of Interim Assignment:

• Turnaround and Restructuring

Functional Area of the Interim Manager:

• Finance

Location:

• Vilnius, Lithuania

Duration:

• 3-4 months

Start Date:

• August – September 2024