Case study
Rapid solutions to bridge a Tax leadership gap for this newly merged Workspace Provider
Cedar ensured stability during TOG’s transformative merger by swiftly appointing both Interim and Permanent Heads of Tax.
In 2022, The Office Group (TOG) backed by Blackstone, merged with Brockton Capital backed by Fora to create one of the UK’s largest flexible office space providers.
The challenge
The merger coincided with the departure of TOG’s Head of Tax, presenting immediate challenges. Key challenges included:
- The newly merged Group had grown significantly in size and complexity, requiring an evolved tax strategy that aligned with large corporate thresholds.
- The timing meant the Group would be exposed without a Head of Tax in place. Candidates at this level would typically be on at least 3 months’ notice, including the additional time to complete the search and interview process.
- The Group was undergoing transformative change, demanding a candidate with exceptional technical ability, leadership, and cultural alignment.
The Solution
Cedar partnered with TOG to design a phased solution:
- Budget Alignment: To advise and agree on salary structures and set clear search timelines for the search and interview process.
- Interim Search: To recruit an Interim Head of Tax to start within the notice period of the departing Head of Tax, to ensure a thorough handover could take place.
- Permanent Search: To conduct a detailed search for a Permanent Head of Tax to meet the Group’s strategic and cultural needs.
Results
- Successfully appointed an Interim Head of Tax, ensuring seamless transition both sides of the contract.
- Successfully placed a Head of Tax who was able to start within 4 months of the search starting, therefore embedding them in the role ahead of a large-scale refinancing project.
- Delivered a solution that maintained operational stability during a period of significant transformation.