Case Study: CEO Germany Search (40 employees, €15m turnover) for a French family-owned industrial SME

Apollo headquarters in May. We had just completed a CFO placement in France. A shortlist of four plus one challenger, two finalists (including the challenger), one offer made (to the safer choice, not the challenger), salary negotiations, offer accepted, and the candidate successfully guided through resignation. A smooth and structured process. The Apollo crew had done a good job. Again.

I leaned back, sipped my coffee and looked out of the window. It was a cloudy day. The year had been anything but “cloudy” so far. Our executive search assignments were running smoothly — no counteroffers, no guarantee cases in a long time. My team had been stable over the past years. We had enough work on the table for the summer. Everyone was busy and focused.

May is the perfect time to launch an executive search if you want a new key player in place “à la rentrée” — in September, after the summer break. What would be our next assignment?

I opened my inbox and saw a message via our website (in French): “Hello, please contact me. We are looking for a headhunter who can help us with a Franco-German recruitment. Thank you.”

Adrenaline. A quick LinkedIn, Google and background check. This was a client we like: a French family-owned industrial company, founded in 1962, with a high-end product. The company had five subsidiaries abroad, including Germany, 650 employees and a turnover of €140 million. Its customer base ranged from NASA to ThyssenKrupp, and its products could be used both in Antarctica and on Mars.

Right in our league. What would the role be? Hopefully a strategic one. One with impact. One we feel good about headhunting for. One that changes the company’s future — and the lives of the people who drive it.

I called the client — the executive assistant to the Group CEO. We were looking for a CEO Germany. Spot on! We agreed on a meeting at headquarters in the Paris region. Three of us went: myself as Managing Partner, my Principal and a researcher.

When we entered the offices and announced ourselves at reception, I observed carefully. Were we welcomed with respect and a smile? Was the waiting time reasonable? Receptionists are a good indicator of company culture. Was she in good or bad mood? When the PA came to get us, what was her energy like? All this was good. First tests passed.

On the executive floor, walking to the boardroom, I looked at the people in the offices. Do they seem to enjoy their work? How do they interact? Are the offices tidy? All positive. This looked like a company you can work in and work for.

We were shown into the boardroom. Coffee? Yes, please. Still or sparkling water? Sparking please if you have. Yes, they had it. After two or three minutes, the Group CEO entered. A tall gentleman in his late sixties, charismatic, soft-spoken, wearing an expensive but discreet suit and watch. Paper notebook in hand, detailed company presentation on the screen.

A good energy set in. We liked each other. We would be on the same wavelength. This would be a conversation at eye level — the only way it works for us.

What was the context?

The German subsidiary had been operating for over two decades, with 40 employees (blue and white collar), €15m turnover and strong profitability. The former CEO had retired two years earlier. Succession planning had been put in place, with the Sales Director stepping up. Unfortunately, he did not have the shoulders for the role. Strong in sales, not the right person to be the number one. The Peter Principle. After less than a year, he left. The company lost a successful Head of Sales and was left without a captain.

The client continued: “We sent the best Frenchman we had.” I had to suppress a smile. I could imagine how the story ended. Indeed: “Unfortunately, he did not make it either. His German was not good enough and he could not get buy-in from the team or the clients.” 

We discussed for over an hour. The status quo: what works, what doesn’t. The mission: take over a profitable subsidiary, stabilize and reassure the team, give direction, optimize processes and drive further growth. How to measure success. Where the company should be in 12 months. Culture. The ideal profile. Which industries beyond direct competitors are relevant (answer: those with similar end clients — as always. You don’t move from selling toothpicks to building nuclear submarines). Reporting lines. Collaboration with HQ. 

Yes, we need someone who understands both Germany and France. The market, the people, the expectations. Someone who can explain Germany to France — and make things work locally. Someone who can translate the company’s success story into the German context while preserving its DNA. A Franco-German — not someone who “speaks English”.

We agreed to work together. Our fee was slightly higher than our competitors’. Something we had in common with the client — positioned at the high end.

Before leaving, the CEO gave us a tour and introduced us to his teams. I liked the way he interacted with them.

My team got to work. We identified 131 potential candidates. 86 were approached — first via LinkedIn, then by phone. They don’t want to change? Like a good salesperson, a good headhunter doesn’t stop there but asks the right questions.

14 candidates did not meet the key criteria. 14 dropped out. Eight were interviewed by two Apollo consultants, including one manager. Five made it onto the shortlist. References checked, external assessments completed — all five were validated.

Of the five, one had applied directly (we have a good reputation), one was recommended, three were headhunted. Only one had another process ongoing — early stage — and when asked about priorities, our client was clearly number one.

A strong position: five solid candidates, engaged and relevant. This should normally be enough to secure two finalists and close the search.

On presentation day, I went to the client with the researcher who had been on the assignment with me. Three candidates in the morning, lunch, two in the afternoon. All briefed, prepared and committed.

We positioned a strong candidate first. As expected it was a good start into the day. The second: within minutes it was clear that he would not go any furter. Lack of energy. Inconsistent with our assessment and references. A bad day? We will never know.

One more interview, then lunch. The PA brought us well-prepared lunch boxes — no time for a restaurant. Another sign of respect. Small talk. We exchanged a few jokes about German directness.

Two more interviews. No surprises.

I personally saw off each candidate. Quick debrief: was the role presented as expected? Any doubts? Motivation still strong? Any competing processes? All good.

Time for the client debrief. What if none were selected? That had not happened to me since 2007. But today? No. Two finalists selected, to be seen again in Germany near the French border two weeks later.

One candidate disappointed in the final round. One even exceeded expectations. We aligned on an offer. Apollo presented it. Verbal acceptance.

Ready to resign? How will your boss react? What could they offer to keep you? Nothing — we had covered this early on.

Resignation handled. The candidate received our 30-page onboarding playbook and a personal call from me before joining.

Since then, the candidate has successfully taken over the role. First feedback? Everything on track. No major surprises, but some “skeletons in the closet”. Early insights: the current CFO will be retiring within 6–9 months, finance too paper-based, controlling underdeveloped.

We stay close. And very likely — the next Franco-German executive search assignment is already on its way to Apollo Executive Search.