08. 04. 2026

CFO Case Study: Improving Finance Leadership in an £80m Manufacturing Business

Introduction: Finance Leadership Challenges in Manufacturing Businesses

In mid-market manufacturing businesses, the challenge is often not the strength of the finance function, but the level of influence finance leadership has within the organisation.

Many business owners search for ways to improve manufacturing financial leadership, strengthen decision-making and determine whether a CFO appointment is required. In practice, the issue is often not capability, but how finance is positioned within the business.

This case study explores how Harper May supported an £80m manufacturing business in hiring a Finance Director capable of delivering CFO-level leadership, ultimately resulting in progression to CFO within 12 months.

Challenges in Manufacturing Finance Leadership for Mid-Market Businesses

The business had a stable finance function and a clear requirement to hire a Finance Director.

At first glance, the brief appeared straightforward. Reporting was consistent, and financial controls were well established.

However, through the search process, it became clear that the underlying issue was not reporting capability.

The business required CFO-level leadership.

Finance was operating effectively within the organisation, but it was not driving strategic decision-making.

There was limited challenge around:

Operational performance, cost pressures and margin control
Commercial assumptions and financial decision-making
Investment planning and long-term strategy

This is a common issue in manufacturing financial leadership, particularly in mid-market businesses managing operational complexity and cost pressures.

How a Strategic Finance Director Hire Delivered CFO-Level Leadership

Rather than defaulting to a more senior hire, Harper May focused on identifying a Finance Director capable of operating at CFO level.

The objective was not simply to fill the role, but to ensure finance leadership aligned with the needs of the business.

Finance Leadership Progression Framework

Support Function
Financial reporting, controls and performance tracking

↓

Operational Influence
Active challenge of cost drivers, margins and operational assumptions

↓

Strategic Leadership
Ownership of planning, investment decisions and business direction

↓

Outcome: CFO-Level Leadership

Board-Level Ownership and Strategic Visibility

The appointed Finance Director took ownership of board-level reporting, ensuring finance became central to leadership discussions.

This increased visibility and influence across the organisation.

Operational Challenge and Financial Discipline

Finance moved beyond reporting into actively challenging operational performance, cost structures and margin assumptions.

This strengthened financial discipline and improved decision-making across the business.

Strategic Planning and Investment Decisions

The individual became directly involved in planning and capital allocation decisions, contributing to long-term strategy and business direction.

This positioned finance as a core leadership function rather than a support role.

Results: Finance Director Promoted to CFO Within 12 Months

Within 12 months, the impact of this hire was clear.

Promotion from Finance Director to Chief Financial Officer
Increased influence over strategic and operational decision-making
Stronger financial discipline across the organisation
Improved alignment between finance and overall business performance

Before and After Positioning

Before:
Reporting, controls, finance as support

After:
Strategic leadership, operational influence, CFO-level decision-making

This progression was not driven by additional technical capability.

It was driven by placing the right individual and aligning expectations with the needs of the business.

Conclusion: Manufacturing CFO Progression Is Driven by Leadership, Not Just Capability

In manufacturing businesses, progression to CFO is rarely determined by technical expertise alone.

It is shaped by visibility, influence and the ability to lead strategic and operational decisions.

This case study demonstrates that achieving CFO-level leadership is not always about hiring a more senior title, but about appointing the right individual and positioning them effectively within the organisation.

For businesses reviewing their finance leadership structure, the focus should not only be on the role title, but on the level of leadership required.

To learn more about Harper May, explore our manufacturing and industrial finance recruitment services in London and across the UK, including our expertise in CFO recruitment and Finance Director recruitment, and how we support organisations strengthening finance leadership in complex, operational environments.