Search
Vice President, Sales & Marketing
Organization
Medical Device Company
Situation
Engaged by the CEO and VP/HR of Corporate for this industry leader of medical devices with a global footprint, for whom we had conducted numerous searches across various divisions, we were advised that the search required complete confidentiality as there was an incumbent in place. The ExeQfind Group was further advised that this would be a politically sensitive search and that if we did not deliver against this assignment, or if word got out, all of their business would be at risk for us.
Assesment
Finding a stand-out candidate was an absolute must, as this was a highly specialized business and the highest growth area for this global company. Not only was our client’s neck on the line with this hire, but so too was the relationship between the client and The ExeQfind Group.
Challenge
As the company had recently gone through acquisitions and other significant change, the candidate needed to possess exceptional leadership capabilities to both galvanize the organization and provide the vision to take the business to the next level of growth. As well, the candidate needed to have the presence and credibility to immediately win the confidence of the management team to whom they were answerable. This was particularly critical as replacing the incumbent, who had been appointed, was not a popular decision. In addition, we were working with very tight compensation constraints.
Solution
The initial phase of the search resulted in presentation of a slate of short-listed candidates that included the role peers from both the major competitors as well as from other related industries.
One candidate, from the most aggressive competitor, required numerous approaches to bring them to the table – especially as they were very content and we could not share with them who the company was. Due to the confidential nature of the search, candidates were ranked and the client met with the top three candidates including those from their largest competitors. The ExeQfind Group developed, and had candidates sign, a non-disclosure / confidentiality agreement and provided candidates the company information immediately prior to their meetings.
Changes in the North American business shortly thereafter resulted in the search being put on hold for a number of months. When circumstances changed again and the search recommenced, further discussion with the client led to the compensation budget being revisited and subsequently significantly increased. This came about as a result of the initial interviews where the client indicated that while the three candidates that they met with all possessed the experience and appropriate track records, the political landscape required that they hire an even more seasoned executive and now the pressure was on to fill the role very quickly.
The managing consultant indicated that during the course of the initial search activity, a number of excellent candidates had been sourced that had not been presented due to significantly higher compensation requirements. These candidates were immediately revisited and three were presented as a new slate within a couple of weeks.
Once again, the candidates were ranked in order of strength and potential fit and again due to confidentiality issues, only one candidate was met in this second round of interviewing. This candidate was fast tracked through a series of interviews and hired in very short order. The accelerated process required careful management of the candidate as they had not been in the market, had been with their organization for much of their career and had excellent upside career progression opportunities within their company as well.
Candidate
This truly stand-out candidate brought to the organization exceptional leadership skills and the presence and credibility to immediately make a highly positive impression on management. The candidate had an excellent track record of managing through change, focusing and pulling organizations together, had managed equally complex and large businesses and achieved continuous double-digit growth in highly competitive business environments.
Postmortem
The candidate had an immediate, positive impact on the organization. He was able to quickly assess immediate needs and focus on pulling the disparate internal groups together thereby regaining momentum while also developing a new long term strategy to continue to grow the business. He was successful in winning management’s confidence and support and to get them to recognize his prescribed distinctively different approach. Within 9 months of joining the company, the division was at 300% of operating plan and outperforming other national and regional subsidiaries.
Footnote
The ExeQfind Group was awarded two new searches for two different divisions shortly thereafter and continues to enjoy an excellent relationship with the client.