An Interim Chief Transformation Officer identifies transformation potential as well as key points for emerging as the market leader in the German hightech industry. In realigning structures and responsibilities, production is increased by approximately 30% during the assignment.
The client is part of a large multinational and globally operating corporation. The client’s division specializes on material analysis solutions and offers a wide range of devices for diverse industrial applications. It is one of the premier market leaders in its field.
The company was lacking leadership and had been operating without a country head for over a year. The global board of directors could not fulfil or support that role due to travel restrictions during the pandemic.
In addition, the order volume decreased during the first year of the pandemic which lead to the entity being scrutinized by the shareholders.
The company’s board had no alternative but to significantly reduce the cost of doing business. Therefore, a restructuring program was initiated wherein approximately 20% of the staff was let go due to redundancy. Consequently, the motivation among the people and the company culture were at a very low point, which ultimately resulted in an even more difficult situation and also led to lack of performance.
Lastly, the matrix structure created further challenges as most managers had global reporting lines into managers based in offices abroad.
The interim manager implemented the following changes:
The company’s performance significantly improved during the nearly two years of the appointment, much to the satisfaction of the global board of directors and the shareholders.
The production had already increased by 30% at the time of handover.
The employees considered themselves more as a team than they did in the past and the collaboration between departments had much improved.
Through the support of Boyden Executive Search Germany, a successor was recruited to continue the transformation processes and the successful leadership work that had been initiated.