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Led Executive Turnaround as Interim COO: CEO Replacement, Full Restructuring, and Market Reboot.
Challenge
US-based sales and service subsidiary of a German machine tool group, primarily serving the automotive sector. The company is based on Detroit, MI.
- Existing CEO lacked growth vision and failed to adapt to market changes.
- Limited technical expertise and service capacity led to declining sales and missed revenue opportunities.
- The company operated without a defined sales strategy and had an undiversified customer base.
Solution
Experienced interims manager, who previously lead various machine tools companies of different sizes in the automotive, aerospace and related industries was contracted for this project. The following steps were taken:
- CEO Replaced: Installed new and clear leadership structure, taking over as interim COO while search for replacement was started.
- Restructuring: Conducted full organizational review and implemented streamlined reporting lines and processes
- Sales Strategy: Developed and rolled out a targeted go-to-market strategy focusing on diversification beyond automotive. This included the build-up of a US-wide sales agent network. Initiated key account visits and targeted actions to bult trust.
- Team Development / Restoring Trust: Hired and trained new sales and service personnel to rebuild capabilities and customer trust.
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Results
Subsidiary was stabilized and positioned for sustained growth, with leadership transitioned to a permanent CEO.
Achievements (within 7 months):
- 5 new customers added in non-automotive industries, reducing risk concentration.
- Full restructuring of sales and service teams; Recruited 5 highly skilled service and sales personal from the industry leading.
- Recruited 3 active sales agents in the US to widen the footprint and sales activities.
- 25% growth in service revenue through proactive support programs.
- 20% growth in machine sales through sales to new industries and new sales channels
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