Several case histories are summarised below. These are all appointments in which I have been centrally involved.
My work takes place in the public arena but the detail of the issues the businesses encounter and the steps taken to rectify the problems are sensitive and for that reason almost all assignments are governed by confidentiality agreements.
Although the cases below are those for which the confidentiality agreements have expired I continue to maintain my practice of discretion as some of the companies continue to operate as independent businesses.
Case B
I was invited to become CEO following the sudden departure of its executive chairman after the announcement of substantial losses.
The 20 operating subsidiaries engaged in on-shore drilling for oil, gas and minerals, acoustic engineering, financial services, small scale civil engineering and property services, were considerably reduced through disposals and closures and the group focussed on its house building subsidiary.
The Group returned EBT of £2.6m.
Case C
Retained by this transatlantic business to formulate and implement a strategy to re-invigorate the Group which designs and markets a wide range of premium furnishing products with approximately 50% of its activities based in the United States.
The resulting plan involved the greater integration of the Group, the introduction of sophisticated IT and movement away from design to marketing orientation in order to extract the full benefit of the Group’s three major brands.
A considerable amount of time was spent restructuring the group’s major US subsidiary and establishing a new distribution company in California.
The group returned to profitability and continues to progress.
Case D
This major construction and civil engineering business encountered complex financial and legal difficulties as a result of the collapse of its parent.
I was asked by the company’s bankers to become Chairman and to direct the protection of the Group from the consequences of its parent’s collapse. The business was successfully refinanced and restructured and a programme of asset disposals was completed in order to refocus the group on its core activities and on a smaller fixed asset base.
The survival of this company is notable as it was the first UK business of its kind to have emerged successfully from financial difficulties during a recession.
Case N
This major international food company encountered significant problems with the European Commission and simultaneously with UK tax authorities both of magnitude that the viability of their European operations was jeopardised.
The business was restructured with the closure of the principal continental European subsidiary, outsourcing of a significant fraction of the UK processing capacity and the legal challenges resolved such that company continued to access the European market without incurring the financial penalties to which it was originally exposed.
Case T
Appointed as CEO to the UK subsidiary of a major US corporation to direct the restructuring and turnaround of their GBP 2.6bn revenue operation as one of the largest electricity and gas suppliers.The business was generating substantial and increasing losses. Under my direction the company was slimmed down through the closure of two of its four call centres and its commercial activity was refocused.
The results (EBT) for the first fiscal year were GBP 23mm better than forecast and for the following year the company yielded a ROCE of 30% and acquired a major competitor to become the largest UK electricity based supply business. One year later the business was sold to for GBP 1.6bn.