1) Client situation (anonymised):
A European-headquartered industrial manufacturer, part of a publicly listed international group, operates a Czech-based site with approximately 400 employees. The business serves mission-critical sectors such as food, and pharmaceuticals, with a complex, custom production model. Following the departure of the existing Finance Manager and a challenging ERP implementation, the company faced urgent pressure to stabilize its finance function. The need for immediate leadership was driven by compliance risk, team fatigue, and the requirement to maintain group-level reporting standards during a period of transition.
2) The challenge:
- Post-ERP implementation instability, especially in finance processes
- Delayed and manual monthly closing cycles, risking reporting accuracy
- Gaps in statutory and IFRS reporting alignment between local and group requirements
- Audit exposure due to incomplete opening balances and manual workarounds
- Junior finance team lacking senior leadership and operational confidence
- High risk of further attrition within the finance team
- Manual, unsustainable processes for reporting and audit preparation
- Cross-border misalignment between Czech site and group finance in Western Europe
3) Interim role delivered (speed and fit):
An Interim CFO was rapidly deployed to the Czech site, with the assignment structured as a 9–12 month mandate. The interim leader was selected for deep experience in manufacturing finance, hands-on ERP recovery, and proven ability to stabilize teams under pressure. The role required full on-site presence, immediate operational control, and the credibility to engage both local staff and group finance leadership. Fit was ensured through technical fluency in Czech statutory accounting, IFRS reporting, and a pragmatic leadership style suited to a younger, cross-functional team. The interim’s mandate included restoring governance, reporting discipline, and compliance transparency.
4) What happened during the mandate:
First 30 days
- Assumed full leadership of the finance team and established immediate presence on-site
- Conducted rapid assessment of ERP-related reporting gaps and compliance risks
- Restored monthly closing cadence, working side-by-side with the team to complete the first close
- Initiated manual reconciliation of opening balances to support audit readiness
- Built trust with local staff and group finance through transparent communication
- Mapped key differences between Czech statutory and group IFRS reporting
First 6 months
- Embedded a predictable monthly closing and reporting rhythm
- Led the team through structured training on ERP processes and reporting standards
- Developed interim manual controls to bridge system gaps and reduce audit risk
- Coordinated with group finance to align reporting structures and account mapping
- Supported junior team members with hands-on coaching and technical guidance
- Reduced dependency on individual knowledge by documenting key processes
6+ months
- Transitioned from manual workarounds to more sustainable system-based processes as ERP stabilization advanced
- Strengthened compliance controls and audit documentation routines
- Facilitated ongoing alignment between site and group finance, ensuring transparency and consistency
- Prepared the finance function for permanent leadership handover, with clear ownership of statutory and group reporting
Handover and exit
- Transferred documented processes and reporting routines to the incoming permanent Finance Manager
- Conducted structured knowledge transfer sessions with the team and group stakeholders
- Ensured continuity of closing, reporting, and compliance activities post-exit
- Provided final assessment of team capability and system readiness to group leadership
5) Actions taken (execution focus):
- Restored monthly reporting cadence and closing discipline within the first month
- Conducted hands-on ERP troubleshooting and manual reconciliation of key balances
- Implemented interim controls to address audit and compliance exposure
- Mapped and documented differences between local statutory and group IFRS reporting
- Led structured training and upskilling for junior finance team members
- Established regular communication routines with group finance and local management
- Coordinated cross-functional efforts to resolve system mapping and reporting issues
- Developed manual reporting templates to ensure continuity during system stabilization
- Built team confidence through visible, supportive leadership on-site
- Documented all critical finance processes to reduce key-person dependency
6) Outcomes achieved (measurable proof):
- Monthly closing cycles stabilized and delivered on time within 60 days
- Audit and compliance risks mitigated through manual reconciliation and documentation
- Reporting accuracy improved, with reduced discrepancies between local and group submissions
- Team confidence and morale restored, reducing risk of further attrition
- Governance cadence embedded, enabling predictable oversight by group finance
- Manual reporting processes sustained continuity during ERP recovery phase
- Statutory and IFRS reporting alignment improved, supporting group consolidation
- Finance function prepared for smooth transition to permanent leadership
- Sustained cross-border collaboration between Czech site and group headquarters
- Audit readiness and documentation quality increased by mandate end
7) Why CE Interim:
CE Interim delivered a senior interim CFO with the precise technical and leadership fit required for this high-stakes mandate. Rapid deployment ensured no loss of control during a critical transition. The interim leader’s cross-border experience and hands-on approach restored governance, reporting discipline, and team stability. CE Interim’s process enabled fast, confident selection and visible progress from the first month, reducing risk for both local management and group stakeholders.
8) Call to action:
If you need an interim CFO to restore finance governance, reporting discipline, and compliance transparency during a critical transition, CE Interim can deliver the right leader quickly and safely.
CE Interim delivers proven executive interim leaders within 72 hours across borders, cultures, and industries. We specialize in high-impact interim management for private equity firms, family offices, and global corporations facing moments of transition: digital transformation, market entry, operational turnaround, post-merger integration, or crisis.
What sets us apart is not just the speed or depth of our network, it’s how we lead. Every engagement is personally guided by a CE Interim managing partner: former CEOs, CFOs, or COOs who’ve been on your side of the table, steering organizations through high-stakes decisions.
With a global talent pool and operational reach spanning Europe, the USA, and the Middle East, we don’t fill roles, we build trust, lead transitions, and deliver outcomes.
As part of the Valtus Alliance, the world’s largest alliance of Executive Interim Management companies, we ensure seamless international execution through 25+ offices and 80+ senior partners in over 50 countries.
