Global Pharmaceutical Company Navigating Leadership Transition and Internal Dynamics

The Client 

Industry: Pharmaceutical  

Challenge: Senior Vice President of Tax Replacement  

Scale: Global company with $58.5 billion in sales 

The Challenge: Leadership Vacuum and Internal Complexities 

In recent years, a major pharmaceutical company faced a series of interconnected challenges: 

• Sudden Departure: The SVP of Tax resigned unexpectedly for a new opportunity. 
• Internal Candidate Pool: Four potential internal candidates, with unclear readiness and interest levels, as well as the risk of political in-fighting. 
• Leadership Flux: The CFO announced retirement plans shortly after initiating the search process. 
• Succession Planning: Need to balance immediate leadership needs with long-term talent development. 

The Imperative: Strategic Tax Leadership Amidst Uncertainty 

The company needed to: 

• Fill the Leadership Gap: Find a suitable replacement for the SVP of Tax role. 
• Navigate Internal Dynamics: Manage the aspirations and development of internal candidates. 
• Align with C-Suite Changes: Coordinate the tax leadership search with the impending CFO transition. 
• Maintain Department Stability: Ensure continuity and performance of the tax function during the transition. 

TaxSearch's Strategic Approach 

TaxSearch implemented a multiphase strategy to address the complex situation: 

1. Initial Assessment: Conducted thorough discussions with the CFO, former head of tax, and HR to understand the landscape. 
2. Flexible Planning: Adapted the search strategy in response to the CFO's retirement announcement. 
3. Interim Leadership Recommendation: Suggested bringing in an experienced interim head of tax through Tax Force services. 
4. Risk Analysis: Provided candid feedback on the potential risks of the client's preferred interim solution. 
5. Rapid Response: Quickly re-engaged when the interim solution proved problematic. 
6. Efficient Execution: Conducted a focused search once the new CFO was in place. 

The Results: Successful Navigation of a Complex Transition 

• Interim Period: The company's chosen interim solution revealed the predicted challenges within a year. 
• Swift Action: TaxSearch rapidly mobilized to conduct a full search once re-engaged. 
• Talent Retention: Successfully retained three out of four key internal candidates during the transition. 
• Successful Placement: Completed the search and placed a new SVP of Tax within a four-month window. 
• Long-term Success: The placed executive continues to thrive in the role, providing stable leadership. 

The TaxSearch Effect 

• Adaptability: Demonstrated ability to adjust strategies in response to changing client circumstances and preferences. 
• Candid Consultation: Provided honest, risk-aware advice, even when it differed from the client's initial inclinations. 
• Crisis Management: Quickly mobilized to address the situation when the interim solution faltered. 
• Talent Preservation: Helped maintain team cohesion during a potentially disruptive transition period. 
• Efficient Execution: Leveraged experience and network to rapidly identify and place the right candidate once engaged.