References

Interview with Dr. Thomas Hill

CEO, Fritz Meyer Holding AG

The Fritz Meyer Group is a long-established company in north-western Switzerland, with business units in fuel and heating oil trading, service stations and garages, real estate, and a service centre. Family-owned for 150 years, the company is headquartered in Basel. Accelerating market changes opened up immediate opportunities for structural transformation, which an interim manager actively guided as CFO.

Mr Hill, what was the situation, and what was the remit, when you decided to bring in an interim manager as CFO?

In 2017, the Board of Directors decided, for strategic reasons, to exit the car dealership business. The decision was driven by weak profitability and a lack of future prospects. This exit meant a radical overhaul of the Fritz Meyer Group that left virtually no area untouched. A transformation of this scale could not have been accomplished with the existing management team. We were looking for an interim CFO with experience in both M&A and corporate restructuring. The core tasks were: executing the sale transactions (asset deals), restructuring the remaining legal entities, setting up a real estate management function, outsourcing IT, and restructuring the finance department. 

Were your expectations met and your objectives achieved?

All the objectives of the restructuring process were achieved on schedule. In many areas, the interim manager's specific experience paid off. As a result, the individual sub-projects could be tackled and completed swiftly and without friction.

Dr. Thomas Hill

former CEO Fritz Meyer Holding

Interview with Marc Aeschlimann

former CEO, Schaffner AG

The Schaffner Group, based in Luterbach in the canton of Solothurn, is one of the leading international providers in the field of electromagnetic compatibility and power quality. Its portfolio comprises EMC filters, power magnetic components and power quality filters, together with the associated services. For the automotive industry, the company develops and manufactures antennas for keyless entry systems as well as filter solutions for hybrid and electric vehicles and their charging infrastructure. Headquartered in Switzerland, the Schaffner Group serves customers worldwide and operates development and production centres in Asia, Europe and the USA.

Herr Aeschlimann, what was the situation, and what was the task, when you decided to bring in an interim manager as head of a business unit?

The Schaffner Group's Power Magnetics division had been undergoing restructuring for some time. Profit targets were not being met, and the measures already initiated were making only slow progress. At this stage, it was essential for an experienced restructuring specialist to take the helm, implement the necessary measures quickly and further streamline the organisation.

Were your expectations met and your objectives achieved?

Yes. Thanks to his experience and analytical approach, the interim manager grasped the situation very quickly. He defined a comprehensive set of measures and implemented them systematically. He succeeded in getting the employees involved on board and, together with them, achieved measurable improvements within a short time. After around 12 months, the key steps had been implemented, and we handed the division over to the new division head.

Marc Aeschlimann

Dipl. EI.-Ing. ETH, former CEO Schaffner

Interview with Kaspar Huggenberg
former Chairman of the Board of Directors

Briner AG Winterthur is a leading service and trading company offering a broad range of construction-related products. It is an independent family business, founded in Winterthur in 1878 as an iron merchant. Today, the company employs 90 people and has been committed to the principles of sustainable corporate management for decades. The Central Swiss group Arthur Weber AG is taking over the trading business of Briner AG Winterthur. The step has been taken to ensure the best possible long-term positioning and to secure the business operations of both companies.

Mr Huggenberg, what was the situation, and what was the remit, when you decided to bring in an interim manager as head of a business unit?
The Board was extremely concerned about the company's development and saw a serious risk of failure within a very short time unless action was taken and course corrected as quickly as possible. Trust in the managing director had broken down. Besides steadily deteriorating financial indicators, various inconsistencies had come to light. We had to act and needed a fast solution.

Were your expectations met and your objectives achieved?
Absolutely – we are impressed by what interim management achieved. At the outset, it was important for us to gain a quick overview of the situation, to have meaningful monthly reporting, to stabilise the staffing situation and to initiate the turnaround immediately. All of this was achieved in a remarkably short time. At a later stage, we also wanted to secure the company's long-term future. Together with the interim management team (interim CEO and interim CFO), we on the Board decided to sell the trading business. This had not been planned when the interim manager took up the role. We additionally commissioned the interim management team to find the "right" company for us and to sell the business to it. With Arthur Weber AG, we achieved this very successfully.

Kaspar Huggenberg

former president of the board

Interview with Andreas Schönenberger
former Group CEO, SIGVARIS Management AG

The Swiss SIGVARIS Group, headquartered in Winterthur, is the global market leader in the manufacture of medical compression textiles. It employs more than 1,550 people and operates its own production facilities in Switzerland, France, Poland, the USA and Brazil. SIGVARIS always stays close to its customers, with subsidiaries in Germany, Austria, the United Kingdom, Italy, Canada, China, Australia and Mexico, and a branch office in the United Arab Emirates. In addition, it works with distributors in more than 70 countries across all continents. The group is pursuing an international growth strategy built on the solid foundation of a success story spanning more than 150 years.

Mr Schönenberger, what was the situation, and what was the remit, when you decided to bring in an interim manager?

At the beginning of the year, one of our four regional groups – which manages the business east of France from St. Gallen (DACH, Eastern Europe, the Middle East and the Far East up to and including China and Australia) – was faced with the departure of its CEO. To safeguard the business and ongoing projects in a constructive and purposeful way until this key position could be filled permanently, we opted for an interim management solution. The aim was to meet the business targets, take clear management decisions, implement them in critical situations and drive forward the important group-wide roll-out of a new ERP solution.

Were your expectations met and did the interim manager achieve the objectives set?

Our expectations regarding what could realistically be achieved in this short time were fully met. In particular, the clearly communicated goals and decisions helped to bring calm and clarity to the organisation. At no point was the situation unclear, and there was never a leadership vacuum. And in Poland, we celebrated an important milestone: the first go-live of the new ERP system.

Andreas Schönenberger

former Group CEO

Interview with Andy Gisler
former Chief Executive Officer, BBC Group

The BBC Group offers attractive and innovative solutions across a wide range of industries (electrical engineering products, flexible packaging, engineering plastics, medical products and more). With its own manufacturing capacity in Europe, Asia and North America, and its own sales companies in the key markets, it has a broad international footing.

Mr Gisler, what was the situation, and what was the remit, when you decided to bring in an interim manager as head of a business unit?
The sales organisation of one of our business units had set an ambitious sales budget and then suffered a sharp drop in revenue towards the end of the financial year. At the same time, the head of the business unit announced his intention to leave the company. As this business unit made a significant contribution to the group's overall result, we needed to ensure that

a) sales was properly set up and aligned to reach the committed budget through appropriate measures, and

b) once the incumbent CEO had left, the interim manager could take over the role and continue to drive the unit's development.

Thanks to Top Fifty, we had a suitable interim manager on site within three weeks.

Were your expectations met and did the interim manager achieve the objectives set?

We had clearly defined and documented our objectives and expectations. Initially, the interim manager focused on the sales organisation. Together with the team, he developed the necessary measures, defined and optimised processes, and actively involved the organisation in taking responsibility. The change in mindset happened quickly. Thanks to the interim manager’s broad and long-standing experience, the organisation received fresh impetus. Different levels were now also involved in decision-making, and the workforce was informed every month about successes and the challenges for the coming month. The sales organisation closed the large gap, and the interim manager finished the year slightly above budget.

What became clear during the interim manager’s time, however, is that even a well-performing business unit must continuously work on its own performance and structure in order to meet customer requirements efficiently and effectively. The entire unit must be developed continuously so that innovation, customer proximity and competitiveness remain high and future opportunities can be exploited profitably. The interim manager fully met the objectives and expectations.

Andy Gisler

former CEO, BBC Group

Interview with Axel W. Wappler
former CEO Landqart AG in Landquart

Landqart AG, based in Landquart, produces more than 10,000 tonnes of cylinder-mould paper for banknotes and passports on state-of-the-art production facilities. The company supplies banknote substrates as well as passport and visa papers to more than 50 countries worldwide.

Mr Wappler, what was the situation, and what was the remit, when you decided to bring in an interim manager?
The previous incumbent had resigned, and I realised that the high complexity of the role, combined with a team of long-serving and experienced employees, called for a highly qualified and seasoned leader with strong leadership skills and a wealth of experience.

Were your expectations met and your objectives achieved?
Yes, our expectations were met to our complete satisfaction, and the objectives were achieved.

Axel W. Wappler

former CEO, Landqart

Interview with Ruedi Bannwart
former CEO Turbo-Separator AG in Wattwil

Turbo-Separator AG is an independent mechanical engineering company with its own production and service facilities in Switzerland, Germany and China. For more than 60 years, it has been developing and manufacturing turbo centrifuges that clean and recondition contaminated industrial fluids from metalworking processes without the use of filter aids.

Mr Bannwart, what was the situation, and what was the remit, when you decided to bring in a business coach?

Following the acquisition of the majority shareholding and the leadership issues that came with it, as well as weak order intake after the Swiss franc shock of January 2015, we decided to have our company assessed from an outside perspective. In the meantime, with our subsidiaries in Germany and China, we had grown into a company with more than 100 employees, which presented us with new challenges. This growth, and the increasing difficulty of maintaining our market presence, especially in service, called for new ideas and a new vision.

We also wanted to provide an external coach as a sparring partner for me as owner and CEO, and for the members of the executive board in specific cases. While the situation after 15 January 2015 was very serious in terms of order intake, our sound financial position meant that it was not life-threatening. We wanted to act from a position of strength and give our company the best possible platform for the future.

Were your expectations met and your objectives achieved?

Yes. Even our first conversations with Top Fifty left us feeling very positive. In Heinz Wüthrich, we had the right person: first, he had the market connections to provide an independent outside view, and second, he had the expertise and specialist knowledge to support and advise us on internal processes, projects, filling key positions and more.

Of course, interventions of this kind in an existing structure require understanding and a genuine willingness to follow that path, and naturally we did not always agree straight away. But I think that is exactly where you see the real difference. Our collaboration was always respectful and extremely cordial.

And yes, our expectations were not only met but exceeded. That is also why we are continuing to work together on a reduced basis.

Ruedi Bannwart

former CEO, Turbo Separator

Interview with Urs Kiener
former CFO, RUAG Corporate Services AG in Bern

RUAG, a Swiss technology group headquartered in Bern, operates mainly in the aerospace, defence and security markets, serving both civil and government customers worldwide. It has outstanding technological expertise on land, in the air and in space. At production sites in Switzerland, Germany, Sweden, Finland, France, Austria, Hungary, Australia and the USA, around 8,000 dedicated and skilled employees are working on the technologies of tomorrow.

The company description above reflects RUAG at the time of the interview.

Mr Kiener, what was the remit, and why did you decide to bring in an interim manager?

Corporate Procurement is set to take on a key role in indirect procurement across RUAG in the future. To strengthen confidence in this function and to allow the time needed for a careful selection of the future Head of Corporate Procurement, we decided to bring in an interim manager.

Were your expectations met and your objectives achieved?

Our expectations were met in every respect. Within a very short time, the interim manager placed by Top Fifty won the trust of the procurement team and provided important impetus in two projects involving procurement that were of major significance to the group.

Urs Kiener

former CFO, Corporate Services

Interview with Marcel Bührer
former CEO, Swisscard AECS, Horgen

Swisscard AECS AG is a joint venture between Credit Suisse AG and American Express. Acting in the name and on behalf of Credit Suisse AG, Swisscard AECS AG is the only company in Switzerland to offer the world’s leading credit card brands American Express, Mastercard and Visa from a single source.

The company description above reflects Swisscard at the time of the interview.

Mr Bührer, why did you decide to bring in an interim manager?

“Customer Service is a key position within Swisscard’s executive management. To allow for a careful selection of the future Head of Customer Service, we decided to bring in an interim manager.”

Were your expectations met and your objectives achieved?

“Our expectations were met in every respect. The interim manager placed by Top Fifty was able to take over operational management of the department within a short time. He quickly became part of our executive management team and provided important impetus for the company’s further development.”

Marcel Bührer

former CEO, Swisscard

Interview with Herrn Marc Blaser
CEO, Blaser Swisslube AG, Hasle‐Rüegsau

Blaser Swisslube, the metalworking fluid manufacturer based in Hasle-Rüegsau in the canton of Bern, was founded in 1936 by entrepreneur Willy Blaser. Since day one, the driving force of this Swiss SME has been to develop products that add value for customers while protecting people and the environment. This pioneering spirit and strong capacity for innovation run like a common thread through the company’s history and have made Blaser a global player in metalworking fluids. “When used and monitored correctly, our high-performance metalworking fluids become a liquid tool – increasing productivity and improving cost-effectiveness and machining quality,” emphasises Marc Blaser, third-generation CEO of the family business.

Mr Blaser, why did you decide to bring in an interim manager?

Our Head of Supply Chain Management had left the company, which put us in a new situation. We want to set up our value chain on a global basis and are in the middle of developing it further. Given the importance and complexity of this task, I decided to bring in an experienced interim manager. His role is to lead the supply chain management team without any gap, drive its further development and secure a long-term successor.

Were your expectations met and your objectives achieved?

To date, I have not regretted the decision for a single minute – quite the opposite. Of course, it helps if the interim manager brings more than just professional skills and experience. He also has to be the right personal fit for the company, because the collaboration is intensive and there is no time for a long getting-to-know-each-other phase. I monitor the achievement of objectives continuously, so that any deviations can be addressed promptly and the objectives can be realised.

Marc Blaser, CEO

CEO, Blaser Swisslube

Interview with Eugen Elmiger
former CEO, maxon motor in Sachseln

maxon motor is the world’s leading supplier of high-precision drive systems of up to 500 watts. For 50 years, everything has revolved around customised solutions, quality and innovation. maxon motor employs more than 2,000 people worldwide, and sales companies in 40 countries ensure close and competent customer support. maxon motor manufactures at its headquarters in Switzerland as well as in Germany, Hungary and Korea. maxon drives perform with absolute reliability even under the harshest conditions – on Mars, for example. There, despite surface temperatures ranging from around –120 °C to +25 °C, vibrations and the unique atmosphere, they powered NASA’s Opportunity rover.

Mr Elmiger, why did you decide to bring in an interim manager?

Following a departure from the executive board, we were looking for fast, professional support and a bridging solution until the vacancy could be filled. We remembered the reliable, unbureaucratic and successful placement of an interim manager in a previous position in a development project. We discussed our current staffing gap in detail with Top Fifty, and within a very short time they identified potential candidates who matched our requirements profile. We were then able to use the time gained to focus carefully on filling this key position.

Were your expectations met and your objectives achieved?

The interim Head of Operations we selected got to grips with this demanding role within a few weeks and met our expectations in every respect. With great experience, he identified improvement potential in many conversations with key people, set and adjusted targets and implemented the results together with the team. Within a few months, existing and new methods were further embedded, and quality and costs were improved. It was the right decision.

Eugen Elmiger

former CEO, Maxon Motor

Interview with Dr. iur. Erwin Carigiet
former Spitaldirektor, Stadtspital Triemli in Zürich

Stadtspital Triemli – one of the largest hospitals in Switzerland – is a cornerstone of healthcare provision for the city and canton of Zurich and far beyond the cantonal borders. As a central hospital, Triemli combines primary care with specialised and highly specialised services, with a particular focus on cardiology and oncology.

Dr Carigiet, why did you decide to bring in an interim manager?

A vacancy arose in a senior finance role. Top Fifty was able to provide a suitable interim manager very quickly to establish stability, calm and confidence both internally and externally. At the same time, we wanted to use this change as an opportunity to make organisational adjustments. The interim manager was therefore also tasked with redefining the job profile together with us and driving the restructuring forward.

Were your expectations met and your objectives achieved?

The interim manager, who originally came from the aviation industry, quickly familiarised himself with the complex structures of the healthcare and hospital sector and ensured that operations continued smoothly. This gave us valuable time for the reorganisation and the recruitment process. Particularly in reorganising the management structures – which, in our view, was very successful – the unbiased perspective of an external interim manager and his professional experience were decisive success factors.

Dr. iur. Erwin Carigiet

former Spitaldirektor

Interview with Dr. h.c. Willy Michel
chairman of the board, AdvalTech Holding AG

Adval Tech is a listed group headquartered in Niederwangen. With around 2,500 employees and plants in Europe, Asia and the Americas, it produces metal and plastic components for the automotive industry as well as for the medical and consumer goods markets. Following the Annual General Meeting of 19 June 2012, Dr h.c. Willy Michel was appointed Chairman of the Board of Directors. Mr Michel is the majority shareholder of Ypsomed AG in Burgdorf.

Dr Michel, why did Adval Tech decide to bring in an interim manager?

With the change in group management, we wanted to review the group’s strategy at short notice and hand over leadership to an experienced manager with an engineering background. Action was needed immediately because of the poor earnings situation in previous years. We defined two priorities: developing the right strategy together with the Board of Directors and, on the operational side, increasing productivity at our Chinese sites.

Were your expectations met and your objectives achieved?

Yes. Thanks to his experience, the interim CEO placed by Top Fifty was equal to this demanding task without a long induction period. With a cost-saving programme and a revised budget, he achieved a substantial improvement in the first quarterly results. The group organisation was simplified, and the national subsidiaries were brought closer to their markets. Once the strategy had been defined, the interim manager also took charge of implementing it and, in addition to his role as CEO, personally led a major division of the group. His responsibilities also included communicating with the press and financial analysts during this very demanding phase of far-reaching transformation.

Dr. h.c. Willy Michel

former chairman of the board

Interview with Rony Bilgerig
chairman of the board, Autocenter Baschnagel AG in Wettingen

Autocenter Baschnagel AG in Wettingen is a family-owned company founded in 1918. With around 120 employees, it offers a full range of services, including sales, servicing, bodywork and paintwork. The dealership represents the Volkswagen and Audi brands and, through two subsidiary dealerships in Würenlos and Spreitenbach, the Škoda, SEAT and Hyundai brands.

Mr Bilgerig, why did you decide to bring in an interim manager?

When the designated Managing Director failed to take up the position despite having signed a contract, we decided relatively quickly to bring in an interim manager. In the fast-moving car business, a prolonged vacancy at the top of operations would have had a major impact on the company’s results.

Were your expectations met and your objectives achieved?

Our expectations were fully met in every respect. The interim manager placed by Top Fifty developed a specific turnaround plan for us, which aimed to bring us back into the black within a year. He took the helm quickly and firmly and achieved a positive result again after just six months.

Rony Bilgerig

chairman of the board