Project Description
Issue
- Company business model in transition resulting in dramatically smaller company with lower revenue and significant losses
- Urgent need to stabilize the business, provide strategic direction and leadership
- Weak senior management below CEO, senior management in flux
- G&A functions significantly oversized
- Big bet on joint venture in China with high risk and high return
Solution – Board Management
- Developed process for clear vision and strategy
- Stabilized senior management
- Enhanced board reporting and governance
- Lead effort to resize G&A
- Created strategic plan to leverage and monetize IP without reducing IP protection
- Created governance mechanism for China JV
Result
- The company transitioned to a profitable business model
- Smaller, focused and more effective management
- G&A costs reduced to benchmarks
- Company sold to HP for $3.2B with significant premium to market price