Aegon was undertaking an ambitious restructuring plan in Spain, assisted by a prestigious management consulting firm. In this environment, the group was in the need to concentrate the efforts of the existing CFO in the plan.
It was thus needed the assistance of a highly qualified professional to, initially on an Interim basis, focus on the main position responsibilities. Moreover, the CFO had the term of his assignment as expatriate coming to an end in six months. The candidate should therefore be in a position to enter into a contest with other suitable candidates.
The Finance Department team was confused, as a result of the restructuring process –that involved dismissals- and the change in the organization chart. It was thus needed:
2. Integration of new teams in the department
3. Team up with HHRR
The Financial Processes were strained by a strong growth, leading to:
1. Delays in providing and analyzing the information.
2. Information accuracy.
Search for efficiencies and profitability improvement.
The DT Directores de Transición role was to engage a skilled professional with a high knowledge of a highly regulated sector and enough seniority to take over the CFO duties on the spot.
The candidate that was finally agreed with Aegon and, once the ensured his compliance with their internal procedures, took over his role in less than 30 days since the initial call. From day one, he joined the steering and audit committees and leaded the Financial Department team and its’ restructuring.
Likewise and following the analysis of the information flow, he made the necessary changes to comply with the information needed both internally and for submission to the regulators
Finally, following a hiring process and given his performance as an interim manager for more than 5 months he was offered the position on a permanent basis.
Smara Conde Real de Asúa, HHRR head for Aegon España states: “Working with DT has ensured us, in a very short term, a committed and professional management support. This has allowed us to solve a challenge we were facing in a short time.”
Rafael Álvarez-Novoa, DT Directores de Transición Partner states: “It is always for us an important challenge to work with companies such as Aegon, a multinational with high level requirements. We are very proud to have understood very rapidly its needs and to have engaged the right person with a high professional profile and management skills”.