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Case Studies

First Time General Manager Accelerates Results Through Integration

CHALLENGE

A multi-national consumer products organization owned two businesses providing similar lines of products. Both businesses were underperforming … market share was declining, innovation had stalled, costs were high, and neither company was effectively leveraging the shared resources of the parent corporation.

To salvage the businesses, the two underperforming units were merged into a single, unified division. A new GM was promoted from within and ineffectual leaders let go. The new leader was tasked with creating and rejuvenating a new leadership team, defining a growth plan, reducing costs, optimizing all available resources, and returning the organization to its previous growth pattern.

Despite significant talent and business acumen, the new leader had never held a full-fledged General Manager role. PrimeGenesis was poised to help this GM quickly tap his talent, establish his leadership and set a new direction and momentum for the team.

ACTIONS

  • Helped the new leader get on his front foot by preparing a well-rounded 100-Day Action Plan outlining goals, priorities, stakeholder planning, leadership messaging and key milestones
  • Accelerated team alignment behind the leader by facilitating an assimilation session that level-set expectations, removed the mystery behind the changes, engaged the team in a conversation about the future and addressed the team members’ key concern, “What does this change mean for me?”
  • Engaged broader organization behind a well-crafted “growth through integration” message
  • Kick started the integration process with a framework including criteria and checkpoints for decision-making, communication and execution
  • Enabled early “people” decisions to provide immediate clarity for the new leadership team
  • Regular behind-the-scenes coaching to help GM focus on priorities and where he could drive results
  • Facilitated two-day Team Imperative Workshop, a galvanizing event to unify the two teams around common mission, vision, values, goals, actions plans, operating cadence and communications.

RESULTS

  • Unified, integrated, efficient team operating effectively against a co-created plan
  • Exceeded financial goals in first 2 quarters in the role, first time the unit(s) had achieved plan in 3 years
  • Focused negotiation resulted in new $20 million commitment from previously under-performing customer
  • Exceeded aggressive cost-saving/integration goals by 2%
  • Retained key employees during integration exercise
  • Redefined sales organization utilizing best practices of both companies and corporate resources
  • Optimized corporate resources to accelerate plan, progress and results
  • New leader has full confidence of self, team, boss and board

Private Equity CEO Accelerates Exit

CHALLENGE

While gearing up for exit, a private equity-owned manufacturer faced a leadership challenge … the long-time CEO’s announcement of his retirement. Keenly aware that the announcement could possibly derail the exit, the PE owners needed to demonstrate strong, stable leadership to attract a viable buyer.

Their decision? Promote the CFO to president. Entirely competent and capable, the former CFO still faced transition challenges … both personally and professionally.

Personally, as the self-proclaimed “numbers guy,” the new president needed to change his mindset from “profitability” to “growth” while sharpening his communication skills to engage the team. In addition, he was now tasked with being the “face” of the company throughout the sales process – an entirely new role for him.

Professionally, a new hierarchy had to be established between the new president, his former peers and a newly transitioned CFO. The leadership team also needed to change its long-standing focus on profit, to a focus on growth opportunities leveraging new technologies, new channels and new markets. This was a complex, high-stakes transition. Timelines were tight and failure was not an option.

ACTIONS

  • Established leader confidence and credibility by developing and implementing an internal and external communications plan with one-on-one coaching checkpoints
  • Secured the president in his new role by facilitating a “new leader assimilation” workshop that seeded messaging and clarified roles and expectations – leaving no questions unanswered
  • Aligned team around critical growth initiatives and empowered them to make trade-offs to rank priorities
  • Accelerated team confidence and momentum by introducing an “early wins” process, driving tangible results on internal issues that had languished in the past, such as new product development strategy, service improvements and key customer plans
  • Re-energized the leadership team by facilitating a role sort process to redefine, develop and assign roles

RESULTS

The new president’s transition was highly successful… gaining acceptance by the executive leadership team, board members and, ultimately, the prospective buyer. A cohesive leadership team was re-energized and effectively produced the following results:

  • Business sold within six months of the new president’s appointment
  • Sale transpired one year sooner than expected
  • Valuation $700 million greater than original investment – equaling a 4x ROI for the investors
  • President promoted to CEO (upon previous CEO’s retirement) nine months into new ownership
  • Business results remain strong with new product innovation driving growth

 

New CEO Leads Successful Private Equity Exit

CHALLENGE

A privately owned personal care company brought in a new CEO to prepare the business for its Initial Public Offering. Meanwhile, the company was losing market share, had no coherent strategy for growth and had broken operating processes.

In addition, we needed to support the CEO to be prepared to run a public company within 100-days.

ACTIONS

After evaluating the business and organizational context, we convinced the CEO and the board to delay the IPO. Next, we leveraged our core processes and worked with the leadership team to put in place a new strategic plan and strengthen their operational and organizational processes.

RESULTS

The team aligned around a new strategic imperative that enhanced its competitive positioning and was well-communicated internally and externally. Operational performance improved, increasing confidence in the ability to execute. Market share trends were turned around, creating positive momentum. Then, “a funny thing happened on the way to the IPO”. The company was bought out by another private equity firm for $2.3B, $700MM more than the original IPO target valuation, three months later than planned.

The CEO told us “I could have put the strategy and operational improvements in place myself. But I never could have done it as fast as you helped us do it.”

New CEO Accelerates Team and Share Performance

CHALLENGE

A large diversified manufacturer spun off one of its divisions as a separate, stand-alone public company with the previous division president promoted to the role of CEO. The division’s recent past performance had suffered due to competitive and market issues, impacting the legacy company’s financial and share price performance. The new company needed a completely new leadership team, external positioning, and its own set of strategic, operating and organizational processes, to build momentum.

ACTIONS

We helped the CEO create his own action plan and then worked with his direct reports, their direct reports and the entire organization in a series of workshops with ever-expanding reach to launch the new company and its core processes.

- sharpened priorities and execution plans
- developed messaging for internal and external initiatives
- readied leadership team to cascade core processes throughout the business

RESULTS

Got leadership team and then entire organization aligned around a new strategic imperative and new messaging. The new company got off to a strong start and increased its stock price more than 66% over its first five months after several years of “at market” share performance.

The CEO told us we were “orders of magnitude more valuable than we ever expected. Way above and beyond the call of duty and greatly appreciated by all…Your process and you personally have made a huge difference for me and the entire team.  All of that is nice but the shareholder value that has been created says it all.  Thank you so much! ”

Private Equity CEO Accelerates Merger of Five Businesses

CHALLENGE

A middle market private equity firm owned five separate operating companies in the medical technology industry. The vision was to combine the businesses to expand revenue by matching up to 100% of the industry’s key procurement targets and reduce costs through operating synergies in Product Development, Operations and Sales. Market trends were driving demand for integrated solutions, providing an outstanding opportunity for any business able to deliver a wide range of solutions at scale.

However, each of the individual portfolio companies operated within its own niche, with its unique strengths, weaknesses and cultures.

The new CEO was tasked with the challenge of creating a unified strategy, leadership team and set of operational processes to capture the market opportunity.

ACTIONS

  • Conducted assimilation workshops for new CEO in multiple locations to kick start relationships,  align messaging, and answer the question – “what does this change mean for me”
  • Performed preliminary role sort to provide immediate clarity to the organization
  • Facilitated workshops to align the team around goals, strategies, and action plans
  • Regular behind-the-scenes coaching to help accelerate decisions and enhance communication

RESULTS

  • Increased sense of ownership by connecting the team’s co-created “bottoms up” plan to the PE firm’s “top down” vision
  • Quickly re-formed the leadership team, adding new and re-sorting existing members
  • Designed assignment for exiting leader to ensure smooth and positive transition
  • Attracted industry Sales leader to join and drive agreed cross-selling program
  • Executed early wins to accelerate unity, shared accountability and results
  • Delivered operational costs savings in staffing, location and procurement

Combined business is growing at a rate above market averages and poised for successful exit.

Case Studies

First Time General Manager Accelerates Results Through Integration

First Time General Manager Accelerates Results Through Integration

CHALLENGE

A multi-national consumer products organization owned two businesses providing similar lines of products. Both businesses were underperforming … market share was declining, innovation had stalled, costs were high, and neither company was effectively leveraging the shared resources of the parent corporation.

To salvage the businesses, the two underperforming units were merged into a single, unified division. A new GM was promoted from within and ineffectual leaders let go. The new leader was tasked with creating and rejuvenating a new leadership team, defining a growth plan, reducing costs, optimizing all available resources, and returning the organization to its previous growth pattern.

Despite significant talent and business acumen, the new leader had never held a full-fledged General Manager role. PrimeGenesis was poised to help this GM quickly tap his talent, establish his leadership and set a new direction and momentum for the team.

ACTIONS

  • Helped the new leader get on his front foot by preparing a well-rounded 100-Day Action Plan outlining goals, priorities, stakeholder planning, leadership messaging and key milestones
  • Accelerated team alignment behind the leader by facilitating an assimilation session that level-set expectations, removed the mystery behind the changes, engaged the team in a conversation about the future and addressed the team members’ key concern, “What does this change mean for me?”
  • Engaged broader organization behind a well-crafted “growth through integration” message
  • Kick started the integration process with a framework including criteria and checkpoints for decision-making, communication and execution
  • Enabled early “people” decisions to provide immediate clarity for the new leadership team
  • Regular behind-the-scenes coaching to help GM focus on priorities and where he could drive results
  • Facilitated two-day Team Imperative Workshop, a galvanizing event to unify the two teams around common mission, vision, values, goals, actions plans, operating cadence and communications.

RESULTS

  • Unified, integrated, efficient team operating effectively against a co-created plan
  • Exceeded financial goals in first 2 quarters in the role, first time the unit(s) had achieved plan in 3 years
  • Focused negotiation resulted in new $20 million commitment from previously under-performing customer
  • Exceeded aggressive cost-saving/integration goals by 2%
  • Retained key employees during integration exercise
  • Redefined sales organization utilizing best practices of both companies and corporate resources
  • Optimized corporate resources to accelerate plan, progress and results
  • New leader has full confidence of self, team, boss and board

Private Equity CEO Accelerates Exit

Private Equity CEO Accelerates Exit

CHALLENGE

While gearing up for exit, a private equity-owned manufacturer faced a leadership challenge … the long-time CEO’s announcement of his retirement. Keenly aware that the announcement could possibly derail the exit, the PE owners needed to demonstrate strong, stable leadership to attract a viable buyer.

Their decision? Promote the CFO to president. Entirely competent and capable, the former CFO still faced transition challenges … both personally and professionally.

Personally, as the self-proclaimed “numbers guy,” the new president needed to change his mindset from “profitability” to “growth” while sharpening his communication skills to engage the team. In addition, he was now tasked with being the “face” of the company throughout the sales process – an entirely new role for him.

Professionally, a new hierarchy had to be established between the new president, his former peers and a newly transitioned CFO. The leadership team also needed to change its long-standing focus on profit, to a focus on growth opportunities leveraging new technologies, new channels and new markets. This was a complex, high-stakes transition. Timelines were tight and failure was not an option.

ACTIONS

  • Established leader confidence and credibility by developing and implementing an internal and external communications plan with one-on-one coaching checkpoints
  • Secured the president in his new role by facilitating a “new leader assimilation” workshop that seeded messaging and clarified roles and expectations – leaving no questions unanswered
  • Aligned team around critical growth initiatives and empowered them to make trade-offs to rank priorities
  • Accelerated team confidence and momentum by introducing an “early wins” process, driving tangible results on internal issues that had languished in the past, such as new product development strategy, service improvements and key customer plans
  • Re-energized the leadership team by facilitating a role sort process to redefine, develop and assign roles

RESULTS

The new president’s transition was highly successful… gaining acceptance by the executive leadership team, board members and, ultimately, the prospective buyer. A cohesive leadership team was re-energized and effectively produced the following results:

  • Business sold within six months of the new president’s appointment
  • Sale transpired one year sooner than expected
  • Valuation $700 million greater than original investment – equaling a 4x ROI for the investors
  • President promoted to CEO (upon previous CEO’s retirement) nine months into new ownership
  • Business results remain strong with new product innovation driving growth

 

New CEO Successful Private Equity Exit

New CEO Leads Successful Private Equity Exit

CHALLENGE

A privately owned personal care company brought in a new CEO to prepare the business for its Initial Public Offering. Meanwhile, the company was losing market share, had no coherent strategy for growth and had broken operating processes.

In addition, we needed to support the CEO to be prepared to run a public company within 100-days.

ACTIONS

After evaluating the business and organizational context, we convinced the CEO and the board to delay the IPO. Next, we leveraged our core processes and worked with the leadership team to put in place a new strategic plan and strengthen their operational and organizational processes.

RESULTS

The team aligned around a new strategic imperative that enhanced its competitive positioning and was well-communicated internally and externally. Operational performance improved, increasing confidence in the ability to execute. Market share trends were turned around, creating positive momentum. Then, “a funny thing happened on the way to the IPO”. The company was bought out by another private equity firm for $2.3B, $700MM more than the original IPO target valuation, three months later than planned.

The CEO told us “I could have put the strategy and operational improvements in place myself. But I never could have done it as fast as you helped us do it.”

New CEO Accelerates Team and Share Performance

New CEO Accelerates Team and Share Performance

CHALLENGE

A large diversified manufacturer spun off one of its divisions as a separate, stand-alone public company with the previous division president promoted to the role of CEO. The division’s recent past performance had suffered due to competitive and market issues, impacting the legacy company’s financial and share price performance. The new company needed a completely new leadership team, external positioning, and its own set of strategic, operating and organizational processes, to build momentum.

ACTIONS

We helped the CEO create his own action plan and then worked with his direct reports, their direct reports and the entire organization in a series of workshops with ever-expanding reach to launch the new company and its core processes.

- sharpened priorities and execution plans
- developed messaging for internal and external initiatives
- readied leadership team to cascade core processes throughout the business

RESULTS

Got leadership team and then entire organization aligned around a new strategic imperative and new messaging. The new company got off to a strong start and increased its stock price more than 66% over its first five months after several years of “at market” share performance.

The CEO told us we were “orders of magnitude more valuable than we ever expected. Way above and beyond the call of duty and greatly appreciated by all…Your process and you personally have made a huge difference for me and the entire team.  All of that is nice but the shareholder value that has been created says it all.  Thank you so much! ”

Private Equity CEO Accelerates Merger of Five Businesses

Private Equity CEO Accelerates Merger of Five Businesses

CHALLENGE

A middle market private equity firm owned five separate operating companies in the medical technology industry. The vision was to combine the businesses to expand revenue by matching up to 100% of the industry’s key procurement targets and reduce costs through operating synergies in Product Development, Operations and Sales. Market trends were driving demand for integrated solutions, providing an outstanding opportunity for any business able to deliver a wide range of solutions at scale.

However, each of the individual portfolio companies operated within its own niche, with its unique strengths, weaknesses and cultures.

The new CEO was tasked with the challenge of creating a unified strategy, leadership team and set of operational processes to capture the market opportunity.

ACTIONS

  • Conducted assimilation workshops for new CEO in multiple locations to kick start relationships,  align messaging, and answer the question – “what does this change mean for me”
  • Performed preliminary role sort to provide immediate clarity to the organization
  • Facilitated workshops to align the team around goals, strategies, and action plans
  • Regular behind-the-scenes coaching to help accelerate decisions and enhance communication

RESULTS

  • Increased sense of ownership by connecting the team’s co-created “bottoms up” plan to the PE firm’s “top down” vision
  • Quickly re-formed the leadership team, adding new and re-sorting existing members
  • Designed assignment for exiting leader to ensure smooth and positive transition
  • Attracted industry Sales leader to join and drive agreed cross-selling program
  • Executed early wins to accelerate unity, shared accountability and results
  • Delivered operational costs savings in staffing, location and procurement

Combined business is growing at a rate above market averages and poised for successful exit.

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