Supermarket giant A&P was in dire need of a major financial and operational overhaul. Its problems had been mounting for a while. It was clear to Sam Martin when he took over as CEO in July of 2010 that he was going to have to apply the frameworks and leadership skills he had developed over his career to lead the organization through a substantial turnaround covering every aspect of the business.
According to Sam five things are always necessary for a turnaround:
- Installing a strong management team
- Strengthening liquidity
- Reducing structural and operating costs
- Improving the value proposition for customers
- Enhancing customers’ in-store experience