In extreme cases (sudden unexpected losses, discovery of major errors in the accounts, loss of confidence in local management) it may be necessary to appoint an Investigator. This person must be resilient, determined and diplomatic. An investigation often takes place in a hostile environment and is not for the faint hearted ! He/she must also be prepared to roll the sleeves up and go into the (sometimes unpalatable) detail.
The person chosen for such a role will have experience at Board level in the country concerned, will speak the local language fluently, will be prepared to stay for an unspecified time in that country and must have the total confidence of the Holding Company. The person must be very 'presentable' and, more important, credible, since he/she may have to deal with the Subsidiary Company bankers, suppliers, functionaries, lawyers etc.
This type of assignment may well evolve into an Interim Managing or Financial Director role. An interim manager is most appropriate for this type of assignment since he/she may need to become actively involved in the day to day management of the Subsidiary, something that a firm of accountants or lawyers may be unwilling to undertake. The open ended nature of the assignment also points to an Independent rather than an employee of a professional firm.
Finally, such a role requires a lot of practical experience, particularly in people management, something that a generally younger employee appointed by a professional firm is unlikely to possess.
Print this pageInterim Manager (Managing Director or Financial Director) since April 1997, based Madrid working both in France and Spain.
British national speaking perfect French and excellent Spanish.
Hands-on, pragmatic, natural leader.