TORC

Executing On A Vision

Semi-State Company

Quick look

Torc’s turnaround specialist created an internal project team to champion & lead this company’s transformation in realising its CEO’s high-performance vision.

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The Challenge

Our client’s recently installed CEO knew that performance had to be improved. He distributed a document to the employees setting out his vision and challenging them to join him in finding a new way.

Unfortunately, the company was mired in debt at the time and with little prospect of reaching its potential.

Torc Response

A minority of employees came forward to try to operate in a new way. Our turnaround specialist created a project team within the company and re-engineered the production process to allow the pioneers to create a new and smarter way of operating.

Over a five-year period this new way reduced direct costs by 75% and became the standard operating practice of the business. The client took the opportunity to re-engineer transport and plant efficiency during the same period.

The key ingredient was the experience of our turnaround specialist and the ability to create new operating practices, thus creating new and smarter ways of working at all levels in the organisation.

Results Achieved

The business has been re-capitalized, is profitable and has developed a major new international arm. The two pillars to this success were: (1) the vision of one exceptional CEO and (2) the excellence in execution of the project team facilitated by our turnaround specialist.