Appointing key CFOs for two distinct Agathos portfolio companies

Beyond finding strong CFOs, the challenge was to identify the right finance leader for the unique situation each portfolio company was entering.

Both assignments were important to the success of the underlying investments.

In one case, Agathos needed to appoint the first CFO following its investment. The business was entering a new stage of development and required stronger financial leadership to support its professionalization, create the foundations for scale and help the organization mature.

The brief demanded a CFO who could combine strategic judgement with genuine operational capability. Just as importantly, the individual needed to work effectively within the dynamics of a founder-led business at an inflection point.

With the two portfolio companies differing in sector, scale and circumstances, Agathos needed a search partner capable of interpreting each situation on its own terms rather than applying the same CFO profile to both.

Each search began with the circumstances of the portfolio company and the impact the CFO needed to have, rather than a standard finance leadership profile.

Defining the challenge

Essenta worked with Agathos to understand the specific dynamics of each portfolio company: its stage of development, leadership context and the role finance needed to play in the next phase.

For the post-investment CFO search, that meant defining the balance between strategic capability and hands-on delivery required to professionalize the business while supporting its growth.

Mapping the market

The search strategy was shaped around the requirements of each individual business, identifying finance leaders whose experience was relevant not only to the role itself but to the scale, sector and situation they would be entering.

Rather than treating previous CFO experience as sufficient in itself, we focused on candidates whose backgrounds suggested they could operate effectively in the specific portfolio-company context.

Assessing for success

Assessment considered technical and strategic capability alongside the human dynamics of the appointment.

In a founder-led business, that meant understanding how candidates would build credibility, work with existing leadership and introduce greater financial discipline without losing sight of the culture and circumstances that had shaped the company to that point.

Two different businesses required two different profiles.

Led by Nick and Doma, Essenta worked closely with Agathos throughout both mandates, maintaining regular dialogue and adapting the search to the circumstances of each portfolio company.

The team took time at the outset to understand what Agathos was trying to achieve through each appointment, including the technical requirements, business context and stakeholder dynamics surrounding the role.

That understanding shaped both the search strategy and candidate assessment. Instead of presenting broadly qualified finance leaders, we focused on the individuals whose experience, operating style and judgement were best matched to the business at that particular stage.

Throughout the assignments, Agathos had direct access to our team, with open communication and a realistic view of the market helping both sides make informed decisions as the searches progressed.

Both searches resulted in strong CFO appointments across two very different portfolio companies.

In each case, the appointed leader went on to make a tangible difference to the business. For Agathos, that was the most important measure of success: not simply completing an Executive Search, but bringing in finance leadership capable of contributing meaningfully to the company after appointment.

The two assignments also demonstrated the value of adapting the search to the underlying asset. Despite differences in sector, scale and business context, Essenta was able to interpret each brief independently and identify the CFO profile appropriate to that specific situation.

The relationship has continued beyond the initial assignments, giving Agathos a search partner with an established understanding of how it approaches leadership appointments across its portfolio.