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Executive failures 'encouraging' interim management
Recent high profile failures of senior executives have encouraged global corporations to appoint interim management specialists.
That is according to the business advisory firm AlixPartners, which suggested that in light of the current market situation more companies are employing interim chief restructuring officers (CRO) to turn around their performances.
Speaking to Financier Worldwide, Pippa Wicks, managing director at AlixPartners, claimed that by recruiting an interim management specialist in this position, chief executives are afforded the time to focus on the "outward elements" of their organisation.
Ms Wicks also noted that CROs are able to relieve some of the pressure facing financial directors, many of whom have been made scapegoats for the recent economic downturn.
She told the website: "It allows financial officers to focus on key financial aspects, such as reporting, control and forecasting.
"The CRO, with remit from the board, can then support and drive negotiations to improve company debts and covenants."
The search firm Odgers Interim has also emphasised transitional executives' commercial skills, by explaining that they are particularly accomplished in tackling poorly managed business relationships.
Categories: Board & CEO