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Bringing in the most Successful Leader

By Øyvind Bakken, Partner and Director

Region: Nordics

Sector focus: Wholesale/retail

THERE ARE A LOT OF DIFFERENT CONDITIONS TO BRING IN THE RIGHT NEW LEADER FOR AN ORGANISATION. IN THIS CASE, WE NEEDED A LEADER WITH THE RIGHT SORT OF MANAGEMENT SKILLS, THE ABILITY TO “REBOOT” AN ORGANISATION, CREATE A NEW BUSINESS CULTURE AND SPIRIT, AND SUPPORT EMPLOYEES WHO STRUGGLED TO ADJUST.
THIS ORGANISATION WAS AN OUTDOOR EQUIPMENT COMPANY THAT NEEDED A NEW MD FOR NORWAY. THE BIG PROBLEM? THERE WAS NO CLEAR INSIGHT INTO HOW MUCH THE ORGANISATION WAS STRUGGLING; THEY KNEW IT WAS IN POOR FINANCIAL CONDITION, BUT THEY DIDN’T REALISE JUST HOW BAD.
WHEN WE DUG INTO THE PROBLEM, WE FOUND SEVERAL CHALLENGES; NO CONTROL OVER INTERNAL MANDATE WAS AT THE TOP. THEY DIDN’T KNOW WHAT GOODS WERE IN THE WAREHOUSES OR THE CONDITION OF THESE GOODS. THEY HAD LAUNCHED A CROSS-COUNTRY SKI THAT FAILED BIGTIME AND HAD A TERRIBLE EXPERIENCE WITH A SPONSORED SKIER WHOSE PRODUCT FAILED ON LIVE TELEVISION. IT WAS A MESS.
WE KNEW THIS BECAUSE ALL WERE VERY OPEN WITH EACH OTHER; WE KNEW THE BRAND QUITE WELL, AND THEY TRUSTED US. FOR THEIR NEXT LEADER, THEY WERE VERY CLEAR WITH THEIR DESIRES: THEY DIDN’T NEED ANOTHER “SPORTS GUY.” THEY REQUIRED A BUSINESSMAN WITH THE ACUMEN TO UNTANGLE THE COMPANY AND GET IT ON THE RIGHT TRACK.
WE UNDERSTOOD THE BUSINESS MODELS VERY WELL AND DIDN’T WASTE ANY TIME ONTERVIEWING PEOPLE SOLELY FROM THE SPORTS INDUSTRY. INSTEAD, WE PUT TOGETHER A SOLID PROFILE FOR A BUSINESS LEADER AND STARTED THE SEARCH WITH THAT AS ITS CORE.

We ended up with a great new managing director. He fit the profile, even if he came from another industry. After that, we started to rebuild the whole company together. The next person up was an exceptional CFO, and then we began to fill in the rest of the roles. The new MD turned that company around. It went from bankruptcy to profitability within two years and made Norway into one of the organisation’s most profitable units.

Øyvind Bakken, Partner & Director
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