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