Initial situation: A management buy-out leads to a management vacuum in the parent company
A division has split off as a result of a management buy-out from a manufacturer of electrotechnical products. In the larger, traditional part of the company, the rapid implementation resulted in a management vacuum that subsequently irritated the staff.
The future of the company was unclear due to a lack of leadership and strategy. At the same time, a change in personnel was announced in an important subsidiary abroad. In this challenging situation, the board of directors decided to appoint a CEO ad interim to be able to concentrate fully on filling the positions at the headquarters and in the subsidiary.
Way to the solution: Concrete action plan and new strategy developed
The mandate for the CEO a. i. was on the one hand stabilizing the management situation and on the other hand creating an optimal starting position for the new management. In order to achieve this, he worked out a short- and medium-term plan of measures with the management to secure the earnings situation. In addition to this, he worked out a new corporate strategy in close coordination with the board of directors.
Because there were further personnel changes due to the reorganization, the CEO a. i. ran a sales area by himself at short notice. With an experienced interim manager, such steps are possible.
Decisive success factors: Transparency and many years of experience
The quick and accurate analysis of the situation as well as communicating actionable measures was particularly important. The CEO a. i. was also able to realistically estimate the time frame for the individual measures through his experience. Just as decisive for the success of the interim assignment was the transparent communication and once again the “political” independence of the interim manager. Thanks to his commitment, the board of directors had enough time to fill the two management positions. When the mandate was concluded, a stable corporate structure had been created and thus an optimal starting position for the new CEO.
A management vacuum usually hits companies unprepared. In such situations, it is important to swiftly ensure stability and to communicate the next steps transparently. The impartiality of an outsider is often a great advantage. Top Fifty quickly and easily provides you with interim managers who are familiar with your industry and who are crisis-tested.
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