Our Principals

Osborne Group Principals are flexible, experienced executives who fill senior-level positions in any functional area on an interim or contract basis.

Retailer

WHO

A Canadian distributor and retailer of high end beauty products. Operates 14 stores across Canada, and sell direct to customers on-line. Single source European supplier. Approximately 20 head office employees in Toronto, with sales staff in boutiques across the country.

WHAT

The company’s controller resigned suddenly, giving the owners virtually no notice. While the owner was an experienced business man, he did not have a background in finance. The business was making money, and the owner wished to continue his successful expansion. The company was having difficulty seeking suitable financing to fund the growth and to purchase the inventory required to maximize sales at retail.

HOW

The Osborne Group Principal met with the owner within days of the resignation of the controller and assumed the role of Interim CFO. Initially this entailed being on-site with the client full time for the first few weeks. The Principal quickly helped to organize the finance functions, and met with the owner to develop and implement strategic priorities, including negotiating better terms with a new bank, purchasing and installing a robust financial system, and developing processes for managing the inventory, oversee store profitability and manage costs. The Principal continued in the Interim CFO role on a part-time basis for over 4 years.

SUCCESS STORY

By quickly solving the immediate business issues, we were able to help the owner take a more strategic approach to the business because of the reduction in the incidence of day to day problems. Part of the strategy played out in the distribution rights being sold back to the parent company. The Osborne Group Principal stayed on with the new President in an advisory capacity to help transition to the new management team, systems and reporting requirements.