Publicly held Manufacturer and
Distributor of Jewelry, Safety Products, Wood Furniture; Electronics Distributor.
THE SITUATION
This $ 26 Million company was assembled
via opportunistic acquisitions; no strategies or objectives had been articulated by
parent. Operations were independently run; no effective communication between operating
heads and corporate; no management information system in place. Certain operations were
profitable while others were losing money; overall corporate loss.
ACTION
Engaged as Interim EVP. Analyzed each
operation and developed strategic plans and objectives; installed new management in two
operations; revised operating procedures at safety products and wood furniture plants;
prepared three divisions for sale and assisted in negotiations.
RESULTS
Sold two divisions; restored
profitability in every remaining operation; hired effective operating management where
required.
