When closure is the only option, how do you ensure the best possible outcomes for everyone concerned?
A French industrial group came to us facing a closure decision. Prior to the pandemic they had been a profitable company, their sales dried up entirely when the airline industry ground to a halt.
The business had significant machinery assets that needed to be dismantled, before destruction or repatriation to France, a unionised workforce that needed to be managed sympathetically and financial obligations to stakeholders.
The board approached us to place an expert who could lead a structured shutdown and ensure the best possible outcome.
Our solution: An interim CEO with cross-border expertise, facilitated and supported by our multi-jurisdictional structure
Our task was to place a CEO in the business who had exceptional experience in negotiating exit strategies, strong methodology, and an ability to lead a multi-faceted project.
This person needed to be a skilled and diplomatic communicator, to deliver the following fundamental foundations for success:
- Rigorous internal communication through weekly steering committee meetings, reporting and open dialogue.
- Successful negotiation with parties that could potentially be aggressively oppositional, achieved by establishing a common interest.
- Cross-border culture and logistical expertise, bridging the gap between the French owners and the UK stakeholders to build a common understanding of what a successful outcome looked like.
Key outcomes: A clear closure strategy resulting in the best possible results for all stakeholders
Our Interim CEO negotiated and managed the most favourable exit solution for all by:
- Negotiating an equitable solution with unions, landlord, suppliers and third parties
- Organising the return of complex machinery worth many millions from the UK to one of the French production sites, allowing additional capacity for the Group.
- Handing the factory back to the Landlord without suffering large dilapidations which meant significant savings and avoiding complex legal procedures.
Valtus are well placed to provide specialist interim managers where cross-border issues exist, due to our international team and multi-jurisdictional structure. Get in touch to discuss further.