Our client is a leading specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related tile accessories. For nearly 30 years, our client has been at the forefront of the do-it-yourself (DIY) movement, catering to both homeowners as well as contractors. The company operates 100 retail showrooms in 30 states, and is continually expanding. Our client is publicly traded on the Nasdaq stock exchange and has revenues in excess of $240M.
Our client had recently experienced significant turnover in a number of key leadership positions. In addition, the company had recently gone public and seen nearly a 65% drop in share price over the last year. The addition of a new CFO from a Fortune 100 retail company was the beginning of a strategy to grow the business, increase profitability, and create shareholder value. A key piece of this strategy included adding a Controller to lead the corporate accounting team. Our client engaged SkyWater on a contingent basis to identify this individual.
Skywater initially vetted over 50 candidates with specific technical expertise in the areas of SEC reporting, GAAP compliance, inventory accounting, income tax accounting and stock-based compensation. In addition, candidates needed to have experience managing outside stakeholder relationships (banks, auditors, etc), and as a result, needed to be dynamic in their presentation and communication skills. Due to our existing inventory of accounting candidates that were “Passively” looking for new roles, we were able to quickly narrow our search from 30 candidates to a “short-list” of 3.
With over 35 applicants for the position, some from internal sources and some from other recruiting firms, each candidate faced stiff competition to get the job. 2 of our 3 candidates interviewed with the entire management team, and one stood out as the ideal candidate. After a second interview, our client made the offer. Not only was the candidate thrilled to join the organization, but the client was pleased to know that they landed the best possible candidate for the role in order to prepare the company for future growth.