JM Search Recruits CFO for Frontline Education
April 14, 2023 – Chief financial officers continue to be in high demand. Finding them is keeping many of the nation’s top recruitment operations busier than ever. In recent months, search firms of all varieties have placed chief financial officers at various companies, especially private equity-backed outfits. Felix Korostin and Charles Egoville of JM Search recently placed Bill O’Shea as the new CFO of Frontline Education in Malvern, PA. “As we continue to grow and remain committed to supporting school districts across the country with their digital transformation, we are pleased to welcome Bill, a seasoned and respected leader to steward our financial strategy,” said Mark Gruzin, CEO of Frontline Education. “Bill’s expertise and approach will be instrumental to Frontline as we seek to always bring unique value to our clients through innovative technology that enhances their operations.”
Mr. O’Shea brings more than 25 years of extensive financial and operational experience in both large public companies as well as private-equity owned and venture-capital funded start-ups. He joins Frontline Education from venture-backed cybersecurity software company SecurityScorecard, where he served as SVP of finance. The majority of his career was with Thomson Reuters, where he held various leadership roles across finance and accounting including CFO of the IP solutions and scientific businesses in Philadelphia and SVP, global head of finance based in Switzerland. Mr. O’Shea previously served on the board of directors for CARECYN, a New York City based charity.
As CFO, Mr. O’Shea will drive Frontline’s financial planning to support the company’s strategic objectives while advancing its position as a leading provider of SaaS technology and solutions within the K-12 marketplace. “It is with great excitement that I join the Frontline team, as well as become a part of the Roper Technologies community,” said Mr. O’Shea. “Frontline has built a strong company laser focused on the administrative needs of K-12 educators. I look forward to sharing insights and expertise that will help Frontline continue its growth and deliver on its mission to serve the nation’s school leaders in their pursuit of success.”
Related: JM Search Assists VSBLTY Groupe Technologies Recruit New CTO
Frontline Education is a provider of school administration software, connecting solutions for student and special programs, business operations and human capital management. Frontline’s broad portfolio includes solutions for proactive recruiting and hiring, absence and time management, professional growth, student information systems, special education, special programs, Medicaid reimbursement, school health management, inventory control and asset management, payroll, benefits and financial management, and analytics solutions.
JM Search is an advisor to CEOs, investors, and boards of directors in recruiting, assessing, and delivering high performance leaders and transformational leadership teams. Its clients include private equity firms and portfolio companies, venture capital-backed businesses, and publicly held companies across North America. Founded in 1980, the JM Search recruiting team brings together former operating and financial executives, investors and experienced search professionals with deep industry specialization, functional expertise, and proven access to talent spanning multiple industry sectors.
Supporting PE Growth & Valuation During Market Volatility
At the start of 2022, boards advised CEOs to take an aggressive approach to growth in all forms: top line revenue, margin expansion, and market share. As the year has unfolded, variables ranging from the war in eastern Europe, divisive mid-term elections in the U.S., inflation, and rising interest rates have created a drag on profitability. Now, the prevailing message is that CEOs must prepare for a potential recessionary slowdown, preserve cash, pull back on anticipated investments, and reduce growth expectations.
As growth, valuation expectations, and exit timing are reset, the conversations business leaders are having with their boards are shifting from balancing growth goals and market share expansion to capital efficiency and maintaining robust EBITDA margins, says JM Search in a new report authored by Chuck Egoville, a partner and a founding member and co-leader of the firm’s technology practice.
Mr. Korostin is a principal in JM Search’s technology practice. He has extensive experience working with C-level executives, board of directors, private equity sponsors and financial institutions. Prior to executive search, Mr. Korostin held leadership roles in M&A and strategy functions, and has personally been involved in over $28 billion of M&A/financing transactions.
Mr. Egoville joined JM Search in 1998 and is recognized as a leading executive search professional in the technology sector. Over the past two decades, he has conducted more than 300 searches and works with leading private equity firms to recruit portfolio company leadership. He is based in the firm’s headquarters but also shares responsibility for the growing West Coast office.
Related: JM Search Assists LiiV in the Recruitment of New CFO
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media