When our client faced several simultaneous financial challenges, Per Alnefelt was engaged as interim CFO. With his experience from both listed companies and fast-moving growth companies, he was the perfect fit for the assignment that required focus, structure and diplomacy, and which was completed with a solid foundation for the next phase.
An intense start and a clear mission
When Per started his assignment, he was met with a situation where several parallel processes were already in motion. “There was a strong need for governance – both financially and communicatively. The sales processes had begun, the company’s banking facilities needed to be reviewed, and there was a clear demand for quick action,” he says.
The company is active within the gaming development, including distribution and licensing. Their main presence is in the Nordic region and Europe. With operations undergoing restructuring and changing financial conditions, they needed to act quickly and bring in someone who could take on the responsibility for leading the process together with the CEO.
Negotiation, structure, and perseverance
Per Alnefelt became deeply involved in the negotiations with potential buyers and external financiers, not least a principal owner who was also one of the counterparties in a deal.“It was a delicate task combining diplomacy with determination. Simultaneously, it was important to ensure that all the different steps were taken with the company’s best interests in mind.”
After the negotiations and the deal were completed, the next challenge came – to lead an extensive restructuring and cost-cutting initiative. Per describes the journey: “We went from successfully closing the deal to closing the quarter and implementing a new financial plan with clear cost reductions. It was a matter of quickly changing focus and pushing forward with clarity.”
Scenario analysis as a basis for decision-making
A central tool in this phase was financial modelling.“You must be able to calculate the effects of your decisions – it’s not time for guesswork. We worked a lot with scenarios and impact analyses to make well-founded decisions. It is also important to know when to lead the work yourself and when it is better to manage a team, for example, when an analyst or consultant builds models.”
A partnership with the CEO and the Board
In assignments of this nature, the relationship with the CEO and the Board of Directors is crucial. Per particularly highlights the collaboration with CEO: “We worked very closely together. A strong partnership between CFO and CEO is fundamental, not least when the pace is high and decisions are complex. He was responsive and valued the perspectives and experience I could contribute.”
Closing and handover
Towards the end of the year, the turnaround was completed, and the company had recruited a permanent CFO. Per ensured the handover and that the next phase could begin without losing momentum.
Per’s perspective on the role
With over 25 years of experience as CFO, both in line roles and in interim assignments, Per has a clear view of what is required in stressful situations.“It’s about being fully focused, delivering what is required and being loyal to the assignment. You are there to support the management.”
He also emphasises the importance of leading with humbleness: “Whether it’s growth or crisis, change affects people. You must be able to be both clear and empathetic.”
When he’s not working, Per likes to be active. Tennis, running and golf are on the schedule, as well as forest walks and time at the family’s summer house on Gotland, which has become an important place for recovery. Together with his wife, who is a veterinarian, he prioritises balance in everyday life, even if it is sometimes 24/7 work when the assignments require it.