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Case Study: Finding the Right CFO for Galderma’s Growing U.S. Operations
The Challenge
Galderma Group AG (SIX: GALD) is a global leader in dermatology, headquartered in Zug, Switzerland, with a newly announced U.S. headquarters in Miami.
Its portfolio spans three high-growth areas: Injectable Aesthetics (Restylane, Dysport/Azzalure/Alluzience, Sculptra), Dermatological Skincare (Cetaphil, Alastin), and Therapeutic Dermatology (Differin, Epiduo, Soolantra, Oracea). Listed on the SIX Swiss Exchange in March 2024, Galderma was entering a critical growth phase, expanding its U.S. operations while scaling globally.
The company faced a complex challenge: finding a U.S. CFO who could take full ownership of Miami operations and be ready to step into the Global CFO role in Zug.
The ideal candidate needed to navigate a fast-growing, publicly traded environment, operate seamlessly across two international hubs, and bring an executive presence to partner effectively with leadership on both sides of the Atlantic.
After nine months of work with another search firm, the right candidate remained elusive. Galderma needed a fresh approach to identify and engage a top-tier finance leader with global experience and CPG-caliber expertise.
Our Approach
Cowen Partners Executive Search brought a combination of strategy, network, and deep sector insight to tackle the challenge:
- Broadened the candidate map to include direct competitors and near-peer sectors such as derm-aesthetics, premium beauty, personal care, and OTC/Rx hybrids.
- Combined deep research with our network to identify 50% more qualified candidates than the prior firm.
- Achieved a 70% response rate among highly qualified candidates, 80% of whom were passive, currently employed executives.
- Targeted global-ready candidates with European and Swiss leadership experience, as well as public-company exposure including boards, auditors, and lenders.
Solution
The chosen candidate brought:
- Scale and public-company expertise: At TerrAscend, scaled revenues from ~$80M to $400M and drove EBITDA margins near 20% through operational discipline, acquisitions, and retail expansion.
- Top-tier CPG leadership: As CFO of Coty’s $3B Global Consumer Beauty Division, led profitability initiatives directly relevant to Galderma’s premium brands.
- Global experience: Vice President & CFO, International at Hershey, managing multi-market profit growth and margin expansion, with multiple international postings, including Switzerland.
- Immediate impact: Equipped to drive results from day one while being fully ready for the Global CFO transition.
Outcome
- Galderma secured a U.S. CFO capable of immediate operational impact and readiness for the Global role.
- Cowen Partners Executive Search delivered a broader, deeper candidate slate, 50% larger than previous efforts, converting 70% of prospects, 80% of whom were passive leaders.
- Risk was minimized with an evaluation focused on board exposure, auditor/lender experience, FX/treasury, debt/equity fluency, S&OP, gross-to-net, M&A/integration, and global matrix leadership.
Why Cowen Partners Executive Search
Through total market access, Cowen Partners Executive Search surfaces more and higher-quality executives faster. Our approach protects momentum in newly public, multi-hub companies, and our CPG-grade diligence translates seamlessly to dermatology leaders across Aesthetics, Skincare, and Therapeutics.
Conclusion: Building a Foundation for U.S. and Global Success
The partnership between Galderma and Cowen Partners Executive Search highlights the impact of connecting the right executive with the right business challenge.
Faced with the complexity of scaling U.S. operations, Galderma needed more than an experienced CFO. They needed a proven leader who could deliver operational results, navigate a public-company environment, and seamlessly operate across Miami and Zug.
Cowen Partners Executive Search collaborated closely with Galderma to understand these unique dynamics, define the essential capabilities, and identify leaders with transferable success in high-growth, global consumer and healthcare environments. That process led to the selection of Keith Stauffer, a seasoned CFO with public-company experience, CPG expertise, and international leadership, whose skills perfectly aligned with Galderma’s immediate priorities and long-term vision.
By securing this transformative executive, Galderma ensured immediate operational impact in the U.S., and created a foundation for continued growth across its multi-hub organization.
If your organization is ready to address complex executive challenges and find the leadership that can drive both immediate results and long-term success, partner with Cowen Partners Executive Search to secure the right executive for your business.
About Cowen Partners Executive Search
Cowen Partners is a premier executive search firm in all 50 states, dedicated to connecting organizations with top-tier talent that drives strategic objectives and fuels success. Our executive recruiters specialize in C-Suite, board, and senior leadership placements, providing unparalleled access to the top 1% of leaders across diverse industries.
Our proven processes and guaranteed results have empowered hundreds of clients in sectors including manufacturing, technology, financial services, healthcare, and private equity to build winning teams. Partner with us to find world-class leaders who will accelerate your company’s growth and success.
To learn more about how Cowen Partners can support your organization’s executive search needs, explore the resources below or contact us today.
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