Global Merger & Acquisition

Innovex uses Interim Manager for International AssignmentInternational business experience, knowledge of UK, European and US tax and accounting procedures, and fluent German was the management mix needed for Innovex, the British-based pharmaceutical outsourcing company, during a global merger and acquisition and a period of unprecedented change and growth.Paul Barton, an accountant with fluent German and good French, who has previously worked in Germany and the USA, was placed by Impact Executives as acting Financial Director.Providing back-up and directionWhen he arrived at the German subsidiary in Freiburg, Barton's primary task was to beef up the financial operation and provide back-up and direction to the general manager. Two months into the assignment, however, Innnovex was taken over by the American company Quintiles, the world leader in pharmaceutical services.Inovex's human resources director Chris Morley comments: "The acquisition meant that a number of senior staff were diverted to integration issues and there was a need for continuity in managing the business while this process was going on. Rather than having people trying to do both things at once, we needed additional resources in managing the day-to-day operation of the business."Providing guidance through the acquisition processBarton concentrated his efforts on guiding the German side of the operation through the acquisition process. Now completed, the company has grown from a business worth DM 20 million to one of around DM 60 million."The previous Financial Director had left somewhat unexpectedly and at a crucial time. Recognising the length of time that it would take to find a permanent replacement, interim management seems to be the most appropriate solution."Chris MorleyHuman Resources Director, InnovexPreviously published on the Impact Executives website – read the original Global Merger & Acquisition article.