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A Finance Director for Renold plc

RenoldRenold plc is a leading international supplier of industrial chains and related power transmission products into global markets. Comprising two divisions, Renold Chain and Torque Transmission (TT), the company has a well deserved reputation for quality that is recognised worldwide. The Group is at a pivotal stage in its evolution, pursuing a strategy to drive continuous improvement in business performance to support the cost of future investment and expansion.

When Renold identified the need for a new Finance Director for their TT division, they turned to Wickland Westcott. This represented a critical appointment for TT - the executive has been largely rebuilt and the appointment of a new Finance Director would complete the team. The remit for the role was to work with the Managing Director, and the Group Finance Director, to raise the level of commercial expertise, financial standards and controls across the entire business operation, adding momentum to the change agenda and fuelling the Group’s growth.

Wickland Westcott undertook an intensive search focused on finance professionals located within international manufacturing, engineering and supply chain operations. The ‘sell’ to potential candidates was the opportunity to work as the right hand of the Managing Director in driving forward the business plan for the division, helping to shape Renold’s strategic development and placing their personal stamp on the operational success of the business. In return, the successful candidate would need to offer strong technical skills, exacting standards and controls, commercial expertise, a focus on cash and profit, and significant international experience.

Following the shortlist interviews, a high calibre candidate was selected - however he was also in the closing stages of another selection process. As the economy recovers this is an increasingly common occurrence, where competition for the best talent, particularly in finance, is intensifying. In such situations, direct, supportive engagement of the candidate by both the client and the search consultancy is an essential ingredient in closing the assignment successfully. Renold’s executive team, with the support of Wickland Westcott, moved swiftly to increase the candidate’s exposure to key stakeholders including the main Board, giving him a high level of reassurance and confidence, and resulting in him enthusiastically accepting the exciting opportunity to join Renold TT. 

Brian Tenner, Group Finance Director for Renold plc, commented of Wickland Westcott: “For such a critical appointment it is always vital that our search partners are exactly in tune with our business requirements and our culture. In focussing on both these criteria, Wickland Westcott were able to ensure an excellent fit of technical and general management skills in arriving at the preferred candidate.”