November 17, 2016
Olivia Wagner

Private Equity Investors Tap Interim Executives to Transform Portfolio Companies

Olivia Wagner | President, InterimExecs
Private Equity Investors Tap Interim Executives to Transform Portfolio Companies

“No duty the executive had to perform was so trying as to put the right man in the right place.” -Thomas Jefferson

Private equity fund managers aren’t in the caretaking business. They are in the business of sparking change within companies that can be grown or turned around to produce big returns for their institutional investors. And that change can’t be just incremental. Fund managers strive to be in the business of transformation.

Sometimes, along with capital, transformation means bringing in solid, experienced leadership to help take a company to the next level.

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November 9, 2016
Richard Lindenmuth

Good CEOs Focus on Active Listening

Richard Lindenmuth | Interim CEO

When an interim CEO or CFO parachutes into a company they have first-hand experience of what measurements and benchmarks (analytics) are useful and how to use and prioritize them. There is also solid recognition that data and numbers can eliminate a great deal of negativity and get people focused on solutions. Taking action is key, and that often begins with active listening to quickly figure out the exact condition of the company.

An interim must get the facts by asking people what they see and where their main areas of concern are. It is rare during this initial listening process that someone does not say something like “if we had better lighting in this area quality control would improve!”

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October 20, 2016
Olivia Wolak

Executive Search May Be Long, But Interim Execs Deploy in 48 Hours

Olivia Wolak | President, Association of Interim Executives

There is no question that the executive search process is long. When a C-level executive bolts or an organization is going through a transformation – acquisition, product launch, market expansion, etc. – the right leadership needs to be in place, and needs to be in place now.

Vision Share, a consortium of eye banks, experienced this firsthand. Their mission, ensuring corneas be sent worldwide for transplant by eye surgeons, was hampered by organizational problems. The board of directors knew a new CEO was needed, but “the permanent search was estimated to be 6-9 months and came with a guarantee of a year’s employment,” Cindy Reed, Board Member at Vision Share said. “We really felt like we needed more than that.”

The board went to the Association of Interim Executives’ Rapid Executive Deployment Program to bring in Gregg Steinberg as Interim CEO to stabilize the organization, achieve immediate growth goals, and prepare them to hire the permanent CEO.

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June 24, 2016
William Mince

An Executive To Do List: How Interims Quickly Understand the Organizational Health of a Business and Team

William Mince | Interim CEO, COO, Turnaround

Interim executives are becoming a popular alternative to using a consultant or leaving a position vacant while a search for the right person is conducted. An interim executive also brings a fresh, unbiased review of factors driving organizational health and operational results. The interim executive does not waste time or company resources trying to secure a full time job, but is driven by the opportunity to make changes which lead to a sustainable value increase for all the stakeholders of the business. The client and their customers can expect immediate improvement in delivery, quality, and cost while a search is conducted to fill the permanent position.

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June 9, 2016
Scott Philips

Leadership Transition: The Good, Bad, and Ugly

Scott Philips | Interim CEO, CSO, COO, CMO, Turnaround

Nearly every one of us has experienced leadership transitions that could be described as “good,” “bad,” or “ugly.” And the percentages of disastrous transitions are astoundingly high. As Australian sociologist Hugh Mackay says, “Nothing is perfect. Life is messy. Relationships are complex. Outcomes are uncertain. People are irrational.” So what else should we expect but to experience our share of bad leadership transitions?

What I want to share here are a few of the complexities that make leadership transitions difficult and, more importantly, how to prevent these ugly transitions from happening to you.

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May 26, 2016
Richard Lindenmuth

When Business Improvement and Transformation Is Needed, Look to Interims

Richard Lindenmuth | Interim CEO, COO, CMO, Turnaround

Today companies operate in a complex global economy which is more diverse, connected by the Internet, and not very predictable. Many companies still pursue classic business approaches (inside-the-box thinking) with a focus on short-term results. Failure to focus on business improvement and adapting to the new business environment can cause many issues and eventually lead to delisting from a stock exchange, bankruptcy, or liquidation. How many of 1960’s “Fortune 500” companies still exist today?

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May 11, 2016
Lyle Banks

Why Industry Doesn’t Matter in the World of Interim

Lyle Banks | Interim CEO

What do Bill George (Medtronic), Meg Whitman (eBay), Bob Wright (NBC), Lou Gerstner (IBM), Larry Bossidy (Allied Signal), Ted Turner (CNN) and Howard Schultz (Starbucks) have in common?

They were all outstanding leaders who revolutionized their companies by applying outside experiences and viewing through different lenses.  Unshackled by past memories or limited perspectives, their successes were a product of “what can be?” versus “what has happened?”

Does that mean industry experience is overrated?  Not necessarily, but I believe a talented leader with an outside perspective, fresh eyes and an open mind will usually outperform an industry veteran when important change is needed.  Why?

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April 20, 2016

Inc. Article: 8 Reasons Flat Organizations Don’t Work, According to a Turnaround CEO

inc-logoThis article featuring Association of Interim Executives RED Team Member, Richard Lindenmuth, was originally posted on Inc.com.

You’ve heard a lot about the benefits of non-hierarchical organizations, from Morning Star Tomatoes to Zappo’s to the David Allen Company. And you likely know by now that while a flat organization is an appealing concept, some companies have backed away from a flat structure or reported that they can be tricky to get right.

Or maybe they just don’t work at all. That’s the opinion of Richard Lindenmuth, who for 30 years has served as an interim CEO, and works with the Association of Interim Executives. One of his most recent tasks was turning around the troubled company Styrotek. He achieved this goal in large part by un-flattening its previously flat management structure and was able to return Styrotek to profitability in three months — even though it was affected by the California drought.

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March 4, 2016

NPR Discusses the Rise of Interim CEOs

npr-logoIn a recent NPR story about the rising demand for interim executives, Association of Interim Executives CEO, Robert Jordan shares that a temporary CEO is not a babysitter, but rather a specialized surgeon. “It creates a bias in favor of action and against playing politics,” Robert said, then commenting that Interim CEOs are “trying to solve a problem and work themselves out of the job.”

Association RED Team Member and Interim CEO, Richard Lindenmuth, is also interviewed sharing about his turnaround of Styrotek, an agricultural packaging company in California that contacted the Association in the midst of a 3-month drought and big financial losses. Dick was able to parachute in as Interim CEO and get the company quickly back to profitability. He says “you really have to listen – the solutions are generally within the company.”

Listen to the Story: http://www.npr.org/2016/03/04/469149268/interim-ceos-passive-placeholders-or-rented-fixers