President and CEO - Enterprise Software – Toronto
THIS SEARCH WAS SUCCESSFULLY COMPLETED.
About the Company
Our client is a well-established Canadian software platform and solutions company that serves large vertical markets such as financial services, retail, and telecommunications. The firm’s broad addressable markets are sizeable and fast growing with industry experts predicting 25% per year growth to over $5bb within the next three years. The firm’s specific target markets represent almost one-third of that total.
Our client’s mission is to deliver the highest value to its customers with unparalleled industry solutions built on innovative patented technologies, deep technical knowledge and feature-rich applications. The firm is widely recognized for the robustness of its technologies, ease of use, flexibility and profound impact on client businesses.
Our client is Toronto-based and boasts a blue-chip private equity-led ownership group.
Scope of Position
As part of a planned transition by the current President and CEO, our client is undertaking a search for an executive to lead the company through its next stage of growth. The incumbent leaves a growing, profitable company with solid industry fundamentals, a superb reputation, high analyst rankings, a large and loyal customer base, a motivated team and a clear product roadmap and strategy for explosive growth.
Owning the strategy and driving its execution will be the responsibility of the President and Chief Executive Officer. Reporting to the Board of Directors, the President & CEO will lever the company’s positioning, momentum and growing markets to significantly accelerate revenues and profits. It is expected that the successful candidate will bring a driving, hands-on, ‘lead from the front’ approach to that task while nurturing a collaborative culture of excellence.
This is an outstanding opportunity that features:
- Strong industry and company growth
- Committed and well-funded financial backers
- Highly entrepreneurial culture
- An opportunity to make a real difference
- Work with the Board of Directors and members of the senior management team to refine the strategic and operating plans, priorities and options.
- Oversee the day-to-day operations of the company to ensure the timely implementation and execution of the business and financial plans.
- Ensure that organizational capacity is in place by which to deliver on the company's plans.
- Architect the organization ensuring that it has in place the human resources, processes and operational capabilities by which to scale and the corporate culture to outperform.
- Provide ongoing direction, performance management and developmental support to the team. Continue to build world-class capabilities. Focus the team to accelerate and drive the growth of the business, new market development, sector leadership and profitability.
- Drive the revenue build process with substantive rapid growth as the goal. Refine and align the sales organization and processes to that goal.
- Maintain, improve, and create senior level relationships with existing and potential customers and strategic partners.
- Ensure operational milestones are met on time, with high quality - and that they meet the cost objectives that are established; report on a monthly as well as a quarterly basis.
- Remain abreast of the industry, competitors and trends with a view to ensuring that all alliance, acquisition and investment opportunities are considered and the most attractive pursued.
- Lead the expansion of the company business into new high growth verticals. Engage with strategic stakeholders in those markets.
- Report regularly and proactively to the board of directors on results and plans going forward.
- Adapt business model to capitalize on evolving customer needs and new competitive offerings.
- Implement and continually refine a product roadmap that incorporates customer feedback and ensures competitive advantage in the marketplace.
Key Performance Indicators
In light of the identified responsibilities, the following are specific deliverables that the position is designed to achieve.
- Specific measures of performance relating to growth, profitability, customer satisfaction, etc. will be discussed and agreed upon with the successful candidate.
The following competencies listed below define the role of President and CEO
Imagines future possibilities. Thinks broadly and investigates a wide-range of alternatives in developing a vision for the future. Selects the most promising vision from a range of alternatives and communicates this vision to others.
Develops a strategic plan to realize the vision. Revises strategy in light of changing circumstances. Takes a long-term view of organizational success. Works to clarify long-term organizational goals. Able to stand back from immediate problems in order to focus on more far reaching ideas.
Establishes and communicates clear priorities and sense of direction. Clarifies roles and responsibilities. Adapts management style to situation to achieve optimum results. Develops a high-performing team that delivers in a highly complex organization or situation.
Focuses strongly on achieving agreed upon outcomes and ensures that key objectives are met. Conveys a sense of urgency and drives issues to closure. Aims to improve upon past performance. Establishes aggressive personal targets and strives to achieve them.
Proactive. Seizes opportunities and acts upon them immediately. Takes responsibility for own actions and addresses problems before asked.
Strives to provide customers/clients with personalized and efficient service. Anticipates customers'/clients' needs. Quickly follows up on customer/client contacts and complaints. Monitors and acts on measures of customer/client satisfaction. Develops high-impact relationships with key external clients, with the ability to envision and advocate a mutually beneficial long-term partnership between the company and the client.
Understands market trends and analyzes customer buying patterns. Takes an organized and systemic approach to selling. Actively participates in the sales process, including interacting with potential and current customers. Practical and concrete orientation towards the selling process that emphasizes being responsive and action-orientated. Takes an approach to sales that emphasizes setting very high standards for achievement, with a strong results orientation.
Industry & Market Awareness
Seeks to anticipate and respond to industry and market changes/challenges by understanding key characteristics, issues and the factors driving them. Aware of competitor's products, services and position.
Applies appropriate commercial and financial principles. Understands situations in terms of costs, profits, added-value and return on investment. Appreciates the commercial impact of own work on the organization’s total expenses and revenues.
Information Technology Policy and Planning
Aligns IT investments with the organization’s mission (e.g., capital planning and investment control, Software Life Cycle). Evaluates current and emerging best practices in analytics software and services relative to the enterprise’s strategic plan to develop a competitive Product Roadmap.
Preferred Experience / Education
The following indicates specific industry, academic and functional experience/qualifications that are important to the successful achievement of the identified responsibilities and performance deliverables.
- A highly intelligent, strategically minded executive with superb communication and interpersonal skills and a willingness to roll-up his/her sleeves.
- Minimum of 10-15 years of experience in leadership capacities with at least five years in a CEO/President/COO or SVP role with specific revenue growth responsibilities.
- Previous experience in a software or technology based company required.
- Track record of working with mid-sized enterprise software companies ($10-50mm) driving accelerated revenue growth over extended periods.
- Proven entrepreneurial experience with appropriate financial, market and business acumen in scaling businesses.
- Experience in growing a P&L.
- Strong business development orientation.
- Strong team orientation well-suited to building consensus in a growing concern.
- Toronto-based or willingness to relocate to Toronto.
- A charismatic, inspirational leader rather than manager.
- Change management and business transformation experience within mid-sized companies.
Remuneration & Benefits
- Highly competitive base, variable and equity compensation package to the successful candidate