The Cross Partnership
Role:
Special Member of the Board of Directors
Company:
Publically funded global manufacturer of plastic packaging
solutions for mass distributed consumer liquid products, sharply underperforming profit expectations, overleveraged and undergoing crisis of confidence in incumbent executive management.
solutions for mass distributed consumer liquid products, sharply underperforming profit expectations, overleveraged and undergoing crisis of confidence in incumbent executive management.
Method:
In Vision: Brought reality to the Board regarding the severity
of the situation and the need to act quickly to maintain solvency of the business.
of the situation and the need to act quickly to maintain solvency of the business.
In Strategy: Clarified the need for a change of leadership, upgrading of the management team, discontinuance of non-economic operations and recapitalization.
In Execution: Terminated and replaced incumbent CEO, rebuilt relationships with key customers, greatly narrowed product development efforts, closed uneconomic manufacturing and distribution operations overseas and in the US, consolidated certain manufacturing operations and began negotiations for sale.
Results:
Recapitalized entire equity interest in the company to
continue more strategically and more aggressive, focused operations.
continue more strategically and more aggressive, focused operations.
About Dick | Carstar | Portola Packaging | Spaulding & Slye Colliers | MW Manufacturers | Valley Manufacturing (Dynamo) | PBG | DATEQ | Norcom
