The Kings Ferry Group is a transport business responsible for coach hire, business travel and commuter services. Based in Gillingham, Kent – the business has over 40 industry awards to their name operating over 220 vehicles with a 50-year track record. The company operates key corporate contacts for large scale events including numerous FA Cup and UEFA Champions Leagues Finals, as well as the London 2012 Olympics.
The Brief
MA Executive were exclusively retained by the Kings Ferry Group to recruit a permanent Group Finance Director to replace an underperforming executive at a time when the business was going through a significant period of change and transformation.
Our Method
Up to that point, the business had made a number of strategic acquisitions but the integration of those business had been tempered through poor decision making.
- It was imperative that that the incoming Group Finance Director would develop and drive a new strategy to ensure the expanded business delivered efficiencies, enabled key competencies to be shared across the business and provided a sustainable platform for future growth.
- In tandem with the search assignment, MA Executive were asked to source an interim executive to support the incumbent Group Finance Director (in part due to capability concerns and a possible flight risk) to provide some much needed stability and focus on ensuring the finance infrastructure was sound, robust and fit for purpose.
- MA Executive recruited a seasoned interim finance executive who was given the key responsibility to provide financial direction and integrate financial initiatives that support the business and improve systems, controls and processes whilst recruitment of a permanent Group Finance Director took place.
The Result
Once the recruitment had been successfully completed, the interim executive was asked to stay on for a further 4 months working alongside the new Group Finance Director to ensure a smooth transition. The interim executive benefitted the company hugely.
- Directed all financial activities to maintain organisational vision and value; delivered transformation in the executive teams’ confidence level with regards to financial and business practices of the Kings Ferry Group.
- Identified key loss-making contracts and highlighted risk areas which were now being addressed; recommended operational changes that re-focused the business on cash generation and profit drivers to create shareholder value.
- Introduced a Lowest Cost Initiative which is securing significant savings for the business.
- Made operational structure recommendations to de-risk the business providing a platform for future growth.
- Played integral role establishing financial best practices, SOPs for easy handoff to new Group Finance Director.
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