Mandated by the Compensation and Appointments Committee, carry out a management review to accelerate growth of an international company
This involves conducting a Management Review of a company in Tech and Financial Services to support the management (around thirty key people) spread over 5 continents; the task is thus to ensure their alignment with the implementation of a new strategy and anticipate need to prepare managerial succession.
This listed company, among the leading providers of electronic payment solutions worldwide, is seeking to implement an in-depth strategic transformation in a context of steady growth.
Spread over 5 continents, its 1,000 staff have to understand, embrace and support the new Strategic Project for greater clarity and proximity to their clients.
At the request of the Compensation and Appointments Committee, the Management must recruit key staff in this process to accelerate growth and reinforce its position on a demanding and highly specialised market.
Looking ahead to solve managerial succession issues, the CAC wishes to identify ideally internal candidates, key staff able to take over the management of the company within a period of 3 to 5 years.
The Compensation and Appointments Committee mandates Exec Avenue to implement a Management Review among a population of approximately 30 key individuals of different nationalities and geographical locations.
Involvement of Exec Avenue
Across its different offices, Exec Avenue gets its Partners involved in carrying out this sensitive assignment.
The contribution of the Committee Chairman and members of the CAC is the first milestone.
Afterwards in-depth individual interviews are held with the 30 key individuals.
They also fill in behaviour and personality questionnaires.
The partners give formal structure to the management review on the following points:
- Assessment of managerial skills, leadership and potential
- Assessment of their involvement and contribution to transformation and development project
- Confirmation of their position and evolution within the current/target organisation
- Diagnosis and evaluation on the organisation’s performance in its different dimensions
- Sharing this diagnosis with the CAC and the CEO
- Submission of suggested priority actions with a set of recommendations for implementation
Exec Avenue Partners have built a close relationship based on trust and goodwill with people met. It gave the right level of involvement and commitment expected for the completion of the assignment.
The CEO was able to gain an external, neutral, and objectively documented view of the managerial and leadership skills of each person met. It enabled him to position each one within the framework of the new organisation. It was communicated as an extension to the Management Review assignment.
Exec Avenue Partners identified areas for improvement and made recommendations on strategy, organisation, human resources, communication, and governance.
This assignment brought some answers on the topic of managerial succession which give guidance to the Board of Directors and to the Compensation and Appointments Committee.
A few months after the end of the assignment, the company has been implemented most of the recommendations made.
Governance bodies have been reorganised; people have been positioned/reassigned; recommendations have been implemented. Growth is back in a climate of general mobilisation.
Dalil Guendouz, Partner