Board of Directors Searches
Staying Flexible When Strategies Shift
Our private equity client held an early-stage investment in a cardiovascular medical device company. They had a promising new product and wanted a new board member to help them navigate the byzantine FDA and CE regulatory processes as quickly as possible. With approval, they hoped to exit through a liquidity event.
- A former CEO of a cardiac implant device company;
- Experience with CE marking and FDA regulatory approval; and
- Has navigated a successful liquidity event.
Matching a profile with so many highly specific technical requirements—that’s a tall order. Even the client had doubts. But we succeeded in introducing them to a number of strong candidates in just a few weeks.
During their interviews, the client realized their actual needs were different from what they initially thought—which is not unusual in a board search. We revised their desired profile to reflect someone with the contacts required to attract potential buyers or go public: a former executive of a multi-national medical device company.
With the new direction, we had to pivot quickly. Apex presented the client with four high-quality candidates that matched the new profile, including:
- President, St. Jude Medical, Cardiac Surgery Division (formerly)
- Founder and Chairman, Abiomed (formerly)
- Founder, CoreValue (formerly)
- President, US Division, St. Jude Medical
Our client ultimately selected one of these cardiac leaders. Just as important, the client was able to expand their own network by developing rapport with the other cardiac implant veterans we introduced them to—all of whom offered their assistance on an as-needed basis.
"When we gave Apex Leaders the assignment to search for a Board Member with cardiac implant experience, I was skeptical that they would find good candidates given such narrow criteria. Dave and Pat took the challenge and delivered a number of highly qualified candidates in a very short period of time. They were very responsive, took the time to understand our business and needs, and were very easy to work with. I will not hesitate, and look forward to engaging Apex Leaders again." --CEO, Client's portfolio company
Value Added Refrigerated Fresh Products
Upon purchasing a regional refrigerated foods company, our client turned to us to help them build the advisory team they needed to expand. After a few rough years due to changes in regulation, high fuel prices, and industry forces outside their control, the company was eager to make a turn around and build a national brand. To be successful, they needed Board members who were experienced operators and brand champions.
Retail Apparel Tagging
The world of fashion has changed. Gone are the days of seasonal clothing lines. Instead, clothing manufactures are continuing to push their designers and their manufacturers to turn out new lines in a matter of weeks. Our client was interested in an apparel tagging company that has the capabilities to keep up with the new speed of fashion. Before moving forward, our client needed to better understand the adoption of fast fashion, the role of customer service and how the larger competitors felt about jumping into this niche space.
Drilling Deep to Find the Right Expertise
A private equity group was evaluating the purchase of an industrial-cleaning company with Fortune 100 customers in the oil, paper, utility, and steel industries. To get comfortable with their investment, our client needed to connect with people who understood: