UK Chairman, Stewart Lund. www.coutureuk.com
Objective: To stabilise the business following a restructure of the senior team.
Provision of services as CEO and to turn round the business to make it profitable.
1.Financial Management: Created a culture of financial responsibility in all units by the introduction of monthly business reviews and senior team meetings. This rebuilt trust between the board, finance team and the operation as improved processes yielded results.
2.Shifted the mind-set of the business from reviewing the past, to planning the future with detailed forecasting.
3.Stabilised the management team by engendering responsibility and supporting the team appropriately. Within two months the team settled and started to perform. Recruitment costs had previously plagued the business and were reduced to manageable levels.
4.Focus the business on the basics: appropriate cost control, good planning and sales.
5.Introduced new supply chain via a new purchasing partner, VisionHS. See : http://www.vision-hs.com/ Cost prices to the business were reduced and margins improved.
6.Introduced new sales initiatives across the business, ensuring the sites were appropriately prepared to enter the market with strong collateral in a timely fashion.
7.Stabilised client relationships
Results: Financial performance significantly outstripped budgeted bottom line. Subsequently, Couture was successfully sold to Host Contract Management. www.hostmgt.com