Chief Financial Officer — Private Equity-Backed Company (Turnaround & Restructuring)
Location: Nashville, TN Metro Area (on-site, with regular presence at company headquarters) Reports to: Chief Executive Officer and Board of Directors Type: Full-Time, Executive Leadership
The Opportunity
Our client, a private equity-backed company headquartered in the Nashville metro area, is seeking a Chief Financial Officer to lead the business through a comprehensive turnaround. The company has a durable core business, loyal customers, and a committed sponsor — but recent performance has fallen short of plan, leverage has tightened, and the cost structure and financial disciplines need to be reset.
This is a restructuring mandate for a CFO who runs toward hard problems. The incoming CFO will take immediate command of cash and liquidity, lead the restructuring of the cost base, rebuild credibility with lenders through reliable forecasting and transparent communication, and put in place the financial disciplines that return the business to plan. The sponsor is aligned and supportive, and the CFO will have real authority to act. For the right executive, this is an opportunity to be the difference-maker in a genuine value-recovery story — with equity upside tied directly to the turnaround's success.
Key Responsibilities
Cash, Liquidity & Lender Management
- Take immediate ownership of cash: implement or rebuild a rigorous 13-week cash flow forecast and a daily/weekly cash management cadence
- Manage liquidity actively, including disbursement prioritization, vendor terms negotiation, and receivables acceleration
- Serve as the primary point of contact with lenders — restoring credibility through accurate forecasts, transparent reporting, and consistent delivery against commitments
- Lead covenant management and, if required, support amendment, waiver, or refinancing discussions alongside the sponsor and advisors
Cost Restructuring & Margin Recovery
- Lead a full assessment of the cost structure and build the restructuring plan: organizational design, spans and layers, facility footprint, vendor spend, and discretionary costs
- Execute cost takeout with speed and fairness, tracking savings from identification through realization
- Rebuild margin visibility by product, customer, and business line, and eliminate unprofitable activity
- Partner with operations to drive working capital improvement — inventory, receivables, and payables
Financial Discipline & Forecasting Credibility
- Re-establish a reliable monthly close, accurate forecasting, and a budget the organization can actually hit
- Build the bridge analyses and variance reporting that explain performance honestly to the Board, sponsor, and lenders
- Implement KPI dashboards that give leadership an early-warning view of the business, not a rear-view mirror
- Strengthen controls and eliminate surprises — the currency of a successful turnaround is trust in the numbers
Leadership Through the Turnaround
- Assess, stabilize, and lead the finance and accounting organization through a demanding period, upgrading talent where needed
- Serve as a visible, steady leader for the broader organization — candid about the situation, confident in the path forward
- Partner with the CEO and sponsor on the value-recovery plan, including scenario planning and strategic alternatives
- Work effectively with outside advisors (restructuring consultants, lender advisors, counsel) while keeping management in control of the narrative
- Position the company, once stabilized, for its next phase — whether renewed growth investment, refinancing, or an eventual exit
The Ideal Candidate
Required Experience
- 15+ years of progressive finance leadership, including CFO or #2 finance experience in at least one successful turnaround, restructuring, or workout situation
- Hands-on experience with 13-week cash flow management, liquidity triage, and vendor/receivables negotiation under pressure
- Direct experience managing stressed lender relationships, including covenant negotiations, amendments, waivers, or refinancings
- Demonstrated success leading significant cost restructuring — designing the plan, executing it, and realizing the savings
- Experience in a private equity-backed or leveraged environment with sponsor and board reporting
- Strong command of U.S. GAAP, forecasting, and bridge/variance analysis
- Bachelor's degree in Finance, Accounting, Economics, or a related field
Preferred
- CPA, MBA, and/or CTP/CIRA credentials
- Background in restructuring advisory, interim management, or performance improvement consulting in addition to operating roles
- Experience working alongside restructuring advisors and lender groups in formal or informal processes
- Track record of retaining and motivating teams through difficult transitions
Personal Attributes
- Calm under pressure — brings order, cadence, and confidence to a stressed environment
- Radically honest with the numbers; builds trust by never shading the story
- Decisive and fast-moving, but fair — makes hard calls on costs and people with integrity
- Resilient, high-energy leader who treats a turnaround as a challenge to win, not a situation to endure
Compensation
- Competitive base salary of $350,000 – $450,000, commensurate with experience
- Annual performance bonus with a target of 50%–75% of base salary, tied to turnaround milestones
- Meaningful equity participation with significant upside aligned to the value recovered
- Comprehensive benefits package, including health coverage and retirement plan with company match
