James Brune was presented with a unique opportunity in 2007 to engage in the corporate restructuring/ turnaround of an ailing subsidiary of a foreign-owned weather risk consulting and communications company.
After extensive research and analysis into company operations and expenditures, James developed a go-forward strategy and plan in January 2007 that restructured North American sales (repositioned U.S.-based operations to focus on marine and aviation consulting, vs. energy and mobile) to return the subsidiary to its first profit in 5 years.
To do this, careful consideration was given to the company’s geographic locations (Chicago, Atlanta and San Francisco offices were closed; New York and the Operations Center in Norman, OK remained) and redundancies made.
With offices closed, staff reduced, and increased responsibility allocated to those remaining (along with revamped base pay + incentive compensation), the company was able to turn a profit in August 2007 – two months ahead of plan. Revenue for FY 2007 increased 12% and net income 99%.
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