Case Study: Strategic Development

Client

$14M specialty automotive tooling and low-volume parts manufacturer

Situation

New CEO wanted to transition the company to a high-volume Tier 1 automotive supplier. HRI was brought in to analyze this strategy and coach and advise the board of directors on the appropriate course of action.

HRI Role

  • Moved from advisory role to shared responsibility for recovery with CEO

  • CEO was eventually removed; HRI given direct responsibility for recovery

  • Conducted business assessment to determine strengths and opportunities for the company

  • Project managed turnaround process

  • Worked with special board committee on execution, and put governances in place to reduce spending

  • Redirected business strategy

  • Harbour maintains a monthly advisory role with new CEO and board of directors

 

 Results

  • Decreased breakeven from $900k to $700k/mo

  • Created 9-12 month window for sales strategy

  • Returned company to short-term profitability