Leading Major Change: $3.5B Consumer Durables Company
Our client – a $3.5 B consumer durables industry leader – resulted from a private equity investment into two category-leading brands in North America. After an initial period running the two businesses in parallel, the owners decided to enhance each of the two brands, while optimizing back-office and support functions.
L&C was asked to support this process of integration and organization development.
Initially, we worked with the President of one of the two brand business units to help develop its Strategic Plan and, in particular, the processes to communicate the Plan to all stakeholders. This involved extensive work with members of the Executive Committee, both in hammering out “the story” and messages, and in encouraging cohesion and senior level teamwork.
We also helped plan, develop and implement communications strategies surrounding organizational changes such as the appointment of the leader of the newly consolidated Operations Business Unit. We assisted in the preparation of Board presentations relating to various aspects of the change.
Subsequently we were asked by the CEO of the combined entities to assist in the development and integration of the new company, with a particular emphasis on leading the strategic planning process. We performed numerous supporting functions including:
- Developing a roadmap and strategic framework to create the new Strategic Plan
- In consultation with the CEO, carrying out a research program to provide the executive planning team with the necessary background material to enable them to formulate the new corporate strategy, preparing materials on topics such as the do’s and don’ts of integrating two formerly competing companies in the same segment and new technologies affecting all business segments, etc.
- To kick off the process of planning for the combined entity, staging a one-day Symposium, bringing in expert speakers including an anthropologist, a futurist, and a consumer-brand expert, as well as guiding the organization’s senior marketing officers in the presentation the Company’s competitive situation. This Symposium was followed by two days of intense discussion by the executive planning team, facilitated by L&C, leading to important new avenues for growth and strategies.
- After this meeting, helping research and develop the numerous new themes identified, and agreeing on strategic approaches to each with executive sponsors. We reviewed the results of these investigations with the CEO and Board.
- Planning and facilitating a second three-day meeting of the executive planning team where the emerging plan was confirmed and specific action plans, including responsibilities, timing, measurable objectives, etc. were defined. This was then presented to the Board.
- In parallel, working closely with the second brand business unit to develop a Plan that was fully aligned with the Strategic Plan for the Company as a whole.measurable objectives, etc. were defined. This was then presented to the Board.
Throughout this period, L&C assisted the CEO in developing organizational options, shaping a new Research and Innovation function, and creating forward looking meta-calendars and roadmaps to cover 24 months of transitions to an IPO. We also supported work to recruit a new President for one of the two brand business units, scripted video addresses to employees, ran team-building and planning sessions for departments, interfaced with vendors, and generally provided support to the change process where needed.
The Company is in the process of implementing the new strategy and is broadly on target with its plans for the first year.