When a senior manager leaves the company, how do you identify the best way forward?
When a large FTSE 250 manufacturing company lost a member of their Senior Leadership Team, they were struggling to identify the best course of action for the future of the company.
Costs had increased by 30% due to the pandemic and their operating model and strategy were insufficiently robust to cope with the rapidly changing market.
The company decided to appoint an interim manager to assess the business and identify the way forward.
Our solution: An experienced interim to identify the issues and create a rescue plan
Our interim manager began by assessing the company structure, which he found was based on historical systems that were no longer relevant.
In order to help create a more effective organisation at a lower cost, he restructured the team by promoting promising team members, demoting others and making redundancies. He also communicated with suppliers to address the problem of escalating costs.
Key outcomes: An agile company structure, increased profits, and a secure supply chain
The restructuring exercise resulted in a lean company structure, fit for purpose in the current climate. By communicating effectively with suppliers, our interim was able to prevent further escalation of prices and increase company profits.
An experienced interim manager has the wisdom, confidence and influence to assess a company’s needs and bring about fast, positive change.