NATURE OF ASSIGNMENT:
Primary: Company Services / CFO
Primary Industry: Staffing
Company: A $800M professional staffing company
Situation: The company was not reaching profit goals.
Focus Scope: A Focus Professional was hired to this privately-held professional staffing firm as Chief Financial Officer to start its accounting department. The Company initially had $2M in revenues, profits of $2K and 5 franchised offices.
Tasks Performed: The Focus Professional managed all financial aspects of the Company, led its Initial and Secondary Public Offering and merged with and took control of its Corporate Franchiser through an internally leveraged buy-out. The Company’s operating strategy was eventually changed from a “franchise system” to an “operating divisions/branches” system. Our Focus Professional also managed and successfully completed a $400M merger with a competitive, publicly held staffing Company and was responsible for restructuring the Company’s website into an internet portal for candidates and client companies.
Results: During the FOCUS Professional’s tenure with the Company, revenues grew from $2M to approximately $800M with 100+ corporate owed offices in 44 large U.S. metropolitan markets.