Wausaukee Composites is a leading manufacturer of highly engineered composite components for original equipment manufacturer (OEM) customers. Its customers are from a wide range of industries including construction equipment, agricultural equipment, mass transportation, wind energy, medical and security imaging, commercial site furnishing, therapeutic systems, corrosion-resistant materials handling, and recreation. More than half of them are Fortune 500 companies. With more than 500 employees located at three manufacturing plants in the Midwest, the company has been producing fiberglass products since 1966. Today, it is one of the preeminent firms providing custom composite, plastics-molded products worldwide.
Situation
When the chief financial officer of Wausaukee Composites resigned, finding new financial leadership became a considerable challenge for the manufacturer. The company needed an experienced executive, but recruiting top talent to its rural location would take time. Until the right replacement could be found, the manufacturer needed to maintain its financial responsibilities. The company reached out to Wipfli for assistance during the transition.
Strategy
While Wausaukee Composites conducted its search for a new CFO, Wipfli’s Keith Koszarek stepped in to perform interim CFO duties. Over the course of nine months, Koszarek provided both operational and strategic assistance to Wausaukee Composites related to financial planning, budgeting, and reporting. Among the responsibilities performed:
- Ensured compliance with tax filings.
- Managed and coordinated all fiscal reporting activities. Consistently and accurately closed the books in a timely manner and produced month-end and quarterly reports.
- Reported to the manufacturer’s parent company and shareholders.
- Prepared the budget process and forecasts for the upcoming year.
- Provided insights on accounting information to help Wausaukee Composites develop and grow its business.
- Managed day-to-day responsibilities and requests.
Benefits
Wipfli was able to “parachute in” to provide continuity for nearly nine months while the manufacturer’s search for a new CFO ensued. Armed with extensive knowledge of Wausaukee Composites and its business, Keith Koszarek gave the company assurance that its financial information would be maintained in a timely and accurate manner. Because the CFO responsibilities were efficiently sustained, the new CFO was able to walk right into the position, ensuring Wausaukee Composites experienced a smooth transition.
