When a CEO steps into a turnaround situation, investors and board members are anxious for change. Employees expect change. All eyes are on the CEO and the big question is, “What’s coming next?”
David Ratner, CEO of HYAS, joins us to share learnings from his experiences in executing turnarounds. In the last segment, we talked about the first step: root cause analysis. Today, we discuss what comes next. As a CEO begins implementing a turnaround strategy, speed and communication are critical.
Click here for the podcast version of this interview.
Segment 2: The Speed of Change for Turnarounds
- Determining when to begin implementing your turnaround strategy. minute 3:57
- Managing the Boards expectations for your turnaround. minute 5:49
- How to choose and track the right indicators during your transition. minute 8:06
Skip to minute 4:41 to hear David share the importance of setting the pace of implementation:
“It’s okay to have your roadmap of what you’re going to go change. But when you know what you want to change now, whether it’s people, whether it’s the process, whether it’s the organization, you got to just rip the Bandaid off and just do it.”
Discover more of David’s interview: