Without a CFO when the market exploded
As one of the pioneers within maritime SO2-cleaning systems, Clean Marine had for many years, waited for a new “International Maritime Organisation (IMO) emissions regulation” directive, which would demand ships to limit their sulphur oxide emissions. In 2016 the market was informed that the regulations would take effect from 2020, but the market did not react until spring 2018. Then it exploded!
Urgent need for a new CFO
CEO Nils Høy-Petersen can breathe easier now. Behind him was the challenging period of preparing for the new directive which accelerated in early 2018, as well as the urgent need for a CFO. Høy-Petersen explains:
- We thought the growth would come in 2017 and had prepared ourselves accordingly. Meanwhile, so had a number of new competitors, and demand was low, so 2017 was pretty tough. On top of this our CFO left the company, and we moved a controller into that position. When she, earlier this year, went into maternity leave, we again were in dire straits for a CFO.
Board member tipped CEO about InterimLeder AS
Høy-Petersen was looking for an experienced CFO profile, who could handle everything for preparation for board meetings, to finance to ownership and personnel management, in addition to having experience from running companies similar to Clean Marine. Not a small feat!
A board member tipped Høy-Petersen about a company that had received help from Interimleder AS in a similar situation.
New interim CFO in place within 14 days
- When we took contact with Interimleder they quickly understood what we were looking for. I experienced Interimleder AS as professional and experienced. The process from the first contact until we were presented candidates, was quick and effective, and already within 14 days we had a new CFO in place.
Very happy with the interim manager
Høy-Petersen describes how the Interim manager delivers:
- Very good! Looking at the situation now, I am convinced that we chose the right candidate. He is a person who covers all our needs, he understands where we are, and he has the right experience to handle the situations we meet. In short, I am very pleased!
Clean Marine AS is a Norwegian technology company established in 2006, with its headoffice in Oslo with 71 employees. Sale/service departments are located in 12 countries across 3 continents. They specialize in SO2-cleaning systems for ships and maritime installations, otherwise known as “Scrubbers”. In 2020 all ships worldwide will need to meet the IMO emissions regulation directive limiting sulphur oxide emissions. The turnover for Clean Marine was 14.4 mill NOK in 2017. Expected turnover in 2018 is 250 mill NOK.