Mission critical CFO

Stylische Hausfasade mit rotem Akzent

Successful Placement in China’s Complex Joint Venture Environment for a European Market Leader

Nowadays, many Western executives are turning away from China, which means appointing a CFO for a joint venture is nothing short of a mission-critical task. At Steinkellner China Search, such challenging scenarios drive our motivation to demonstrate expertise and commitment. This success story highlights how we supported a leading European kitchen manufacturer through an extremely difficult phase. Amid ongoing disruptions from China’s zero-Covid policy and the declining appeal of joint ventures, we were tasked with securing financial leadership for a major investment in China.

A leading European kitchen manufacturer with more than one billion euros in annual revenue and 5,000+ employees in its home market had made a significant investment in a joint venture at a key production site in China. However, due to China’s ongoing zero-Covid policy and the resulting travel restrictions, the CFO provided by the European partner was no longer available to continue in the role. This position was and remains crucial for our client ensuring precise financial governance within the joint venture.

The challenge for us at Steinkellner China Search was complex: We were looking for a Western CFO, ideally German speaking, who was willing and able to operate under these exceptional conditions. This proved to be highly difficult, as many German and other Western executives had left China during the lockdowns, leaving a significantly reduced talent pool.
Adding to the complexity, joint ventures are generally perceived as less attractive by top-tier candidates compared to roles in wholly owned subsidiaries. Beyond professional qualifications, the role required a stabilizing, collaborative personality capable of navigating a potentially tense environment and fostering constructive cooperation.
This initial position was thus significantly more challenging than in many of our previous projects.

Despite the complexity of the situation, we were able to manage the process successfully thanks to our proven methodology and the tireless dedication of our five-person project team. Considering the limited availability and seniority of the client’s decision-makers, our proactive project management took on increased significance in this case. The close, personal involvement of Manfred Steinkellner enabled timely adjustments at key decisions ensuring that each step aligned with our client’s best interests.

A central element of our approach was the strategic use of video interviews. Aware of the client’s time constraints, we provided recordings of all relevant conversations. This allowed stakeholders to gain a solid initial impression independent of time zones or availability. This greatly simplified internal coordination and contributed significantly to accelerating the overall timeline.

The direct and trusted relationship with the responsible CFO on the client side proved to be a major success factor. Within just five weeks of intensive search, we were able to introduce an initial shortlist of promising candidates, offering early reassurance and confidence despite the adverse circumstances. The feedback was overwhelmingly positive: Our contact expressed great satisfaction at finding a near-perfect match at such an early stage of the process – a performance that exceeded his expectations, especially given the tense market situation.

After an intensive search in which we assessed more than 300 talents, we successfully presented the ideal match to our client within just three months. By the end of the process, two highly qualified executives were available for final consideration – both fully aligned with the defined requirements. This enabled the client to engage their joint venture partner in the final decision-making process, exactly as planned.

The newly acquired German-speaking CFO for the joint venture in China proved to be a perfect match: he offered both the required expertise and solid experience to meet the demands of the role, but also proved to be the right match in terms of personality, cultural alignment, and values for both business partners. In addition, his salary expectations aligned well with the company´s structure.
The talents themselves also expressed great satisfaction with our professional and close support throughout the entire process.

“They provided us with two perfect candidates for the final selection, and our joint venture partner was able to choose one of them. Exactly as we had planned in advance.”
Christopher S., CFO

  • Our proven system and proactive project management enabling fast, precise results even with complex stakeholder environments and tight schedules
  • Close personal involvement by Manfred Steinkellner allowing agile adjustments and strategic guidance throughout the process, tailored to shifting conditions.
  • Smart integration of technology such as video interviews faciliate decision-making and increase flexibility on the client side.
  • Access to and evaluation of top-tier talent and successfully evaluating over 300 candidates in a narrow, high-stakes market for a role as demanding as a joint venture CFO.
  • Focus on personality and cultural alignment ensuring the selected executive is not only professionally qualified but also capable of building trust and collaboration in high-complexity environments such as a joint venture

Your success story could be next

These success stories confirm: With the right partner at your side and a proven method in place, even the most complex challenges in China can be managed successfully.
If you are ready to set the course for sustainable success, let’s connect.