New CEO? Determine Where Firm Is Now And Focus Fast

Jan. 13, 2005
By John S. McClenahen Employees, customers, shareholders and suppliers are among those asking "Now what?" when a new CEO takes over, particularly in a financially troubled firm. The new chief executive should respond in six ways, advises Chicago-based ...
ByJohn S. McClenahen Employees, customers, shareholders and suppliers are among those asking "Now what?" when a new CEO takes over, particularly in a financially troubled firm. The new chief executive should respond in six ways, advises Chicago-based Randy Wilson, director of corporate recovery at Citigate Global Intelligence & Security LLC. First, take stock of the company's position, he advises. "Before you can determine where your organization is going, you need to know where it is right now," says Wilson. Next, focus faster than you think you need to. Arm yourself with metrics, evaluate your leadership team honestly and shed business units that don't fit, he counsels. And, urges Wilson, tell the world that you get it. In other words, let employees, suppliers, partners, shareholders and customers know what the company's new focus is.

Popular Sponsored Recommendations

Discover How an Eye Tracking Study Improves Training Procedures

Oct. 29, 2023
Did you know that your training processes can be streamlined by visualizing and analyzing key skills within your employee base? Find out how we use eye tracking to capture advanced...

Decarbonization Navigator: A Toolkit for Organizations

Sept. 28, 2023
The increasing urgency of addressing climate change along with stakeholder pressures are driving the need for organizations to prioritize decarbonization. Discover how to start...

What Is Your Smart Factory IQ?

Sept. 24, 2023
It’s time to put Smart, data-driven manufacturing operations to the test. In this comprehensive whitepaper we show you how to determine the Artificial Intelligence Quotient (AIQ...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!