Interim CEO Executives

Interim Managers, Executive Leaders,
Advisors, Expert Consultants, Practitioners,
Board of Directors, and Change Artists

Strategic Management Partners

Interim Executive Leaders Bring Them On Board
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Interim Executive Leaders

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[IMAGE] Strategic Management Partners, Inc. has substantial experience as an Interim Manager (CEO, Executive), advising corporations and individuals on the strategic and mechanical issues of corporate development, operating management and turnarounds for asset and investment recovery. Our principal has over 30 years experience in P/L Management, Strategic Planning and Repositioning, M&A for Strategic Advantage, Finance, Investing, Raising Funds, Sales/Business Development, Building Selling and Marketing Teams, and Operational Auditing = In Public & Private companies = In healthy and crisis situations. Look to an Interim CEO, a Certified Turnaround Professional (CTP), and a Certified International Turnaround Manager (CITM).

We provide assessment studies to determine the situation, planning and strategy development to direct the company, interim and crisis management to oversee that assets are not squandered away, workout teams that recover assets, and board level oversight to keep the client headed in the right direction.

While there are many descriptions for phases in the turnaround, we believe that they can be summarized into three types. Balance Sheet restructuring is a one-time event normally associated with bankruptcy. But only 15% of chapter 11 cases come out of bankruptcy, so there must be more to the process for true recovery. Most focus by crisis managers is on Financial turnarounds, but you can only cut costs so far. We focus on the operational restructuring to create truly lasting results required by stakeholders. Here is where focus on revenue driven turnarounds, and implementing processes that control the business come into play. We have experience in all three types of turnaround. We prefer to restructure operations for lasting results.

Balance Sheet Restructuring: Recapitalization changes the relationship between financial stakeholders

Financial Restructuring: Maximize liquidity to provide time to evaluate viability of the entity, implement cost reduction plans, and renegotiate financing arrangements

Operational Restructuring: Focus on long term requirements to assure creation of a stable, profitable, cash generating company with a qualified management team and process improvement

C-Level Executives Can Make the Difference

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Bring Them On Board: Benefits of Interim Managers
C-Level Executives Can Make the Difference pdf

Experienced management is one of the most important factors behind the success of any business. Many managers have ample enthusiasm and energy, but often lack the knowledge and experience needed to sidestep easily avoided mistakes. As a result, far too many companies get into trouble and can die before ever reaching their potential market value.

If you have an extraordinary innovation, opportunity, or even a unique situation an interim executive can help launch, grow, or turnaround your venture by temporarily filling one or more key management roles in your company. Whether they serve as your interim Chief Executive Officer (CEO), Chief Restructuring Officer (CRO), Chief Operating Officer (COO), Chief Financial Officer (CFO), Chief Selling Officer (CSO), Chief Manufacturing Officer (CMO), Chief Whichever Officer (CXO), General Counsel, or in some other senior executive role, they can stand by your side as an experienced executive with a vested interest in your long-term success.

Interim C-level executives are experienced managers who have launched and grown successful ventures. As your partner, they roll up their sleeves and work towards laying the groundwork for a successful venture. They work hard, because they succeed only if you succeed.

In a typical engagement, the Interim Executive will form an executive management team (often using some existing resources) and take over much of the managerial control of the situation, allowing you to focus on what you're best at: investing in other companies, managing other ventures, product innovation, etcetera.

Interim Executives are typically hired by private equity investors, board of director members, corporate council, and sometimes the management team or CEO. Headhunters are often used to locate these Interim Execs for special situations. Hiring a new Interim CEO will take board and/or investor action to make the change.

What is Interim Management?

Interim Management is the providing of senior C-level management resources on a temporary basis to organizations that require an immediate, short-term need. There are a number of factors that appeal to companies when considering using Interim Management services, including responsiveness, experience, objectivity, project duration, and the list goes on.

Benefits of Interim Management

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Bringing interim executive leadership to crisis situations to preserve value, recovery assets and investments, and turn a company around.
Benefits of Interim Management
Action/Skill	Benefit
Speedy Deployment	Talent on scene in days, Flexible Term
Experience Means Results	Highly qualified and experienced resources
Objectivity	Fresh perspective
Accountability	Delivery of objectives
Effectiveness	Board-level reporting gives authority to effect change
Commitment	Get control, put plans in place, find their replacement, and leave when the project ends

Interim Managers have become a powerful resourcing option in today's fast paced business environment. The key benefits that an Interim Manager brings on assignment to a company can be summarized as:

Speedy, Responsive, Flexible Deployment of Resource

Interim Manager talent can be in place within days as opposed to weeks or months, which is essential when time constraints are critical. Interim Management is a quick solution to bring resources on-board, deploying those who are fully and properly skilled to deliver the service required.

The very nature of Interim Management means the greatest flexibility from a client perspective including the extension, expansion, or termination of the services. There is no impact to succession planning because Interim Managers are not permanent resources within the organisation, therefore their position does not pose any threat to internal resources and associated succession planning processes. There is also no impact to permanent headcount because Interim Management provides a solution when clients are constrained on permanent headcount, but still must deliver business objectives.

Experience Means Rapid Results

Interim Managers are highly qualified, experienced, and able to produce as soon as they arrive on scene. Due to their skill level and expertise, these resources will be fully productive in a matter of days. This over-qualified tendancy is well suited for project work because it focuses on achieving results and gives clear definition of key milestones, regular progress reports, and measurement of performance.

An Interim Manager is more than qualified for the position they are taking on and therefore are often stepping down in responsibility. The Interim Manager has past experience of similar challenges to the ones that they are about to face. In addition to enabling them to have an immediate effect and be productive from the outset, this experience ensures success. They will transfer their skill and experience to your team.

Objectivity

Interim Managers provide a fresh perspective and are free to concentrate on what is best for the business. Interim Mangers are free from any previous involvement in company processes, staff relationships, office politics, or career advancement goals. An Interim Manager identifies problems and implements new solutions that may not be visible to company insiders because they are too close to the issue.

Accountability

Interim Managers will take full, direct, and primary accountability for the assignment including delivery of objectives, budget control, resource management, ontime delivery, etcetera, in accordance with the scope of the assignment.

Rather than adopting a purely advisory role, as would a management consultant, an Interim Manager becomes the responsible and accountable line manager who will take ownership and manage a business or implement a project to success.

Effectiveness

Operating at or near board-level gives an Interim Manager the authority to effect significant change or transition within a company; unlike a temp, they’re not just there to manage the status quo. Interim Managers are hired as agents of change to make things happen quickly and because they bring skill-sets that probably are not available within the company.

Commitment

An Interim Manager is committed to an Interim career and each assignment is never just a stop gap until a suitable permanent position is found. Good interims embrace the challenges of different and difficult assignments, take great pride in maintaining the highest standards, and realize that the next job is dependent on the success of the current assignment.

Good interims will get control of the situation, put plans and resources in place to run the company, find their replacement if necessary, and leave when the project ends or the company is turned around.

There is value to the Interim Manager Process: bring expert management, get results quickly, operate in a flexible environment, all while allowing you to go about the business that you do well. Interim engagements are by definition for a period of time and staffed by a non-employee, therefore avoiding labor laws that apply to employees. This is an advantage in many parts of the world where labor laws are very strict regarding benefits and burdensome severence policies, in contrast to the at-will nature of the United States.

Hire that Interim CxO. [IMAGE]

Reference and Other Sources

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Bring Them On Board: C-Level Executives Can Make the Difference
Leading By Example. Interview with John Collard, Interim CEO, CRO, Turnaround Pro

We have developed management processes that focus on various phases and actions during the turnaround cycle. This structured and orderly approach allows us a high rate of success in crisis, turnaround and workout engagements. Contact us to discuss the detailed methodology and how this can work for you.

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Contact Information

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John M. Collard, Chairman, CTP [Collard, Interim CEO]
Strategic Management Partners, Inc.
522 Horn Point Drive
Annapolis, Maryland [MD] 21403
Voice 410-263-9100 Facsimile 410-263-6094 E-Mail Strategist@aol.com
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