Start-up airline, majority owned by a large Special Situations investor, needed an Interim CFO while completing the search for the permanent hire when prior CFO failed to complete strategic initiatives.
Action:
- Embedded Financial Leadership: Integrated the finance group into daily workflows to propel the company forward
- Built Core Systems: Worked with the aviation practice of global accounting firm to finalize the chart of accounts and implement into operating systems to develop reporting capabilities and performance metrics
- Scale Revenue Accounting: Recruited talent to build out the revenue accounting function and technology platform
- Restate Prior Periods: Started clean-up of historical financial statements
- Insurance & Risk Management: Established comprehensive insurance program
- Corporate Governacne: Reported directly to the Board of Directors and participated in Board meetings
- Strategic Forecast: Created 13-week Cash Flow projection and Five-year forecast
Outcome:
- Brought leadership to the finance organization and built trust of executive team
- Established financial systems, reporting structures, and accountability across departments
- Created a clear path to success for the permanent CFO hire
brief description
Appointed Interim CFO to professionalize the Finance group and bring leadership to start-up company.
Industry: Aviation
