Executive Search Case Study - CFO · Faststream Recruitment

Resignation triggers search

As a result of an unforeseen resignation, a large diverse shipowner based in the Gulf Region needed to recruit an experienced Chief Financial Officer (CFO) quickly and confidentially during a critical growth period in their business. The incoming CFO needed to have not only experience of working in a world-class shipping company, but also to have knowledge and experience of large-scale projects.

Reporting directly to the Chief Executive Officer (CEO) and as an integral part of the senior leadership team, quickly recruiting a high calibre CFO was critical to the success of the business.

Trusted search partner

With a need to quickly make this critical appointment, our client needed to appoint an executive search partner with a deep understanding of the maritime sector and most importantly with a current network of high-calibre candidates.

Faststream Recruitment had a long-standing relationship with the client. We had previously supported their business via our contingent recruitment team, recruiting mid-management maritime professionals for them.

Our client considered appointing a globally recognised, generalist executive search business, a small niche, contingent maritime recruitment business or Faststream Executive Search, as an executive maritime recruitment partner.

After careful consideration and a robust selection process, our client selected our executive search team to conduct the search. They made this decision as they considered Faststream to have a good understanding of their business and the maritime sector, a track record of delivering similar searches in the Gulf Region and they trusted Faststream to deliver.

Global reach in maritime

Once given the go-ahead to proceed, we moved very quickly. Mark Charman, Faststream, Group CEO and Jonathan Pearce, Team Leader – Shipping took responsibility for delivering the search. Working together with key stakeholders in our client’s business, we advised on the most effective search and selection strategy and a role brief was agreed upon.

Working discreetly, Mark and Jonathan were able to start straight away talking to their established networks of passive candidates to establish potential suitability and interest. By the end of week one, a long list of potential candidates had been drawn up and over the next week the candidates were interviewed, relocation was explored and by week three a short-list of six well-matched candidates was ready to present to the client.

Following Faststream’s presentation of the six shortlisted candidates, our client selected five of the candidates for the first interview via telephone and we made the necessary arrangements. Post-interview feedback was exchanged, and our client selected three candidates to fly to the Gulf for a face-to-face second interview. Faststream made all the arrangements for flights, accommodation and visas ready for interviews to take place.

Once interviews had taken place, Faststream held post-interview de-briefings with both clients and candidates and feedback was shared by both parties. All three interviews went well, but our client felt that one candidate stood out as having the skills and knowledge they required to move their business forward, and we were asked to arrange a final interview with the candidate.

The final interview went very well and both client and candidate were keen to proceed. We were instructed to commence negotiations with the candidate.

With international relocation for the candidate and his family, and an expatriate package and benefits, these were complex negotiations that had to be completed quickly to enable mobilisation, but of course to both parties’ mutual satisfaction.

Negotiations were satisfactorily concluded, referencing and background checks were undertaken, and contracts signed. We assisted with obtaining work permits and mobilisation of the candidate to join our client in the Gulf.

Search completed quickly and confidentially

Our client was overjoyed at the outcome. We had successfully managed a global CFO search in a short space of time and kept our client business on its growth track.