managing a company through turbulent times · managing through turbulent times • read the markets...
TRANSCRIPT
![Page 1: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/1.jpg)
1
Managing a company through turbulent times
Ronald van der Mark - CFO CFO Day 2008: 12 June 2008
![Page 2: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/2.jpg)
2
Agenda
1. Success Maxeda 2. Staying focussed
3. Managing through turbulent times
![Page 3: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/3.jpg)
3
1. Success Maxeda
“If everything seems under control you’re not going fast
enough” - Mario Andretti
![Page 4: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/4.jpg)
4
Maxeda
DIY V&D
Claudia Sträter M&S Hunkemöller
De Bijenkorf
La Place
Schaap en Citroen Key Figures 2007/08 Sales €3,181 mln EBITDA €228 mln Colleagues 18,242 Stores 1,350 Countries 12
![Page 5: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/5.jpg)
5
versus Situation Vendex KBB before Buy-out: • Performance under pressure • Negative publicity • Problems with financing • Financial Holding without
added value for the Business Units
• Relatively weak Management • No cooperation between
formats • Worst place to work • Weak MIS
Current situation Maxeda: • Outperforming the Market • Double digit EBITDA growth • Very strong Cash Flow • High Investments • Strong value creation Holding • Strong Management • Strong cooperation between
formats • Best Places to work and high
Employee Satisfaction • Strong MIS • Positive reputation with all
Stakeholders
![Page 6: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/6.jpg)
6
Process since Buy-Out in 2004
• Year 1 - Focus on controlling the business and generating cash: – improving governance and reporting – changing the role of the head office and the culture – cost reduction, working capital reduction and divestments
• After year 1 - Focus on driving the business: – right people at the right place, new (international) top management – achieve retail excellence in every format – invest in long term sustainable growth – A Passion to Serve philosophy – great Strategy (5-S’s) and Execution
![Page 7: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/7.jpg)
7
We literally created
a new Company!
![Page 8: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/8.jpg)
8
Drivers of Success
• Focus – Drive – Alignment • Servant Leadership • Good Strategy and Strong Execution • Focus on Value Creation for all Stakeholders
(Customers, Colleagues, Suppliers, Community and Shareholders)
This is not Rocket Science but proven (Private Equity)
“template”!
![Page 9: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/9.jpg)
9
2. Staying focussed
Only the Paranoid Survive!
![Page 10: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/10.jpg)
10
Staying sharp and focussed!
• Constant communication to maintain Performance Culture: – “Good is the Enemy of Great” – “Only the fairy tale ends ‘They lived happily ever after’” - Peter
Drucker – Lets not get seduced by success!:
• “Success is a lousy teacher. It seduced smart people into thinking they can’t lose” - Bill Gates
• “If you are very successful you start think you can walk on water” - Dieter Zetsche
• “Nothing recedes like success” - Walter Winchell
• Constant Challenging: – Confront the Brutal Facts (not everything can be positive) – Set new Targets and Goals
![Page 11: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/11.jpg)
11
3. Managing through turbulent times
“You cannot change the wind but you are in full control of
your sails …”
![Page 12: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/12.jpg)
12
Managing through turbulent times
• Read the Markets constantly
• Adjust your Strategic Planning and Budgeting process: – Be conservative on Sales Growth and Focus on Margin, Costs and Cash – Focus on the things you can control!
• Adjust your business focus (processes and KPI’s) • Make your Cost and Capex commitments flexible
• Create contingency plans • Look at learnings from previous downturns, other markets/areas and
experienced managers
• Prepare for the upturn
Out performance is always Value Creating!
![Page 13: Managing a company through turbulent times · Managing through turbulent times • Read the Markets constantly • Adjust your Strategic Planning and Budgeting process: – Be conservative](https://reader036.vdocuments.us/reader036/viewer/2022071117/6003c81f0e582c5d39794f8e/html5/thumbnails/13.jpg)
13
Final thought
“It is not the strongest of the species that survive,
nor the most intelligent, but the one most responsive
to change”
Charles Darwin