Non-Profit, Vision Share, is the consortium of eye banks that banded together in 1998 to get corneas ready for transplant, into the hands of surgeons around the globe. With 18 eye banks, the consortium provides a space to share best practices, help advance innovation and technology, and pool resources to reach surgeons fast.
Companies that have sought out true interims will tell you that during initial conversations, the executive interviewed the company as much as the company interviewed the executive. Having jumped into everything from manufacturing to healthcare, to AI, interims are choosy about the assignments they take on. They are not shy about a challenge, but want to have major impact. The best interim execs have a finely honed internal screening check-list to decide what’s best to parachute into.
Cleve Adams is no stranger to high growth situations, having built a SaaS cyber security software company from pre-revenue to a $1B IPO in three years. As an interim exec and four-time VC-backed CEO, Cleve says there are four vital components to evaluating a company.
2017 offered daily excitement. The markets continued an unrelenting upward streak. While some debate the strength of underlying fundamentals, valuations public and private rose all year long.
In our business at InterimExecs, demand for interim management continued strongly while gaining momentum in the US. We had fun matching inspiring companies and executives together that were focused on growth, transformation, or taking on big initiatives and goals (see some of our favorite moments of 2017 here: www.interimexecs.org/2017-review).
After two years of unrelenting decline and $6M in losses, the owners of Styrotek, a packaging manufacturer for table grapes decided they needed to bring in outside help to turn things around.
Styrotek was founded in 1973 by a group of grape growers who came together to produce boxes for their farming operations in the central valley of California. While manufacturing was not originally in the company DNA, the business got to the point of creating a consistent product and quickly grew along with the grape industry.
That was until 2014 when things started to go sideways. “The company was somewhat in disarray,” Chris Caratan, one of the owner’s of Styrotek said. “Our management team at the time was not working up to par and there were some surprises in year-end numbers.”
It’s a big day in Helsingbord Sweden – opening day for the Museum of Failure, which features such items as Harley-Davidson perfume, Bic pens for women and Google Glass.
Failure can be very entertaining – when it hits someone else. For company leaders, failure is to be avoided at all costs.
And yet, so many company builders report that their success was achieved after a spectacular failure. You would think this leads to a lifelong lesson to embrace setbacks, but for most it doesn’t. We seem to be hardwired to avoid failure.
When InterimExecs sent in RED Team member and Interim CEO, Michelle Barnes, into the Tourette Association of America, the organization was in a state of flux. The CEO had exited, staff was demoralized, the office was in a bit of chaos, and everyone was questioning what the future would look like.
Interim executives, or interims, have recently become an important tool that organizations can use to effectively address a variety of pressing needs. Having said that, many companies are either unaware that interims are even available or appropriate for their current situation. The most common understanding of the role of an interim is to fill an immediate need in the executive team caused by a sudden voluntary or involuntary departure. In this case, a seasoned executive can step right in and allow the company to progress unabated. While much of what an interim does is similar to consulting, successful execution is critical and unique to the role of interims. This blog presents seven case studies to help companies better understand other instances where interims can help. There are certainly more examples, but these are representative. While seven represents everything from the apocalypse to luck in gambling, we’ll stick with seven.
This article featuring Association of Interim Executives RED Team Member, Richard Lindenmuth, was originally posted on Inc.com.
You’ve heard a lot about the benefits of non-hierarchical organizations, from Morning Star Tomatoes to Zappo’s to the David Allen Company. And you likely know by now that while a flat organization is an appealing concept, some companies have backed away from a flat structure or reported that they can be tricky to get right.
Or maybe they just don’t work at all. That’s the opinion of Richard Lindenmuth, who for 30 years has served as an interim CEO, and works with the Association of Interim Executives. One of his most recent tasks was turning around the troubled company Styrotek. He achieved this goal in large part by un-flattening its previously flat management structure and was able to return Styrotek to profitability in three months — even though it was affected by the California drought.
In a recent NPR story about the rising demand for interim executives, Association of Interim Executives CEO, Robert Jordan shares that a temporary CEO is not a babysitter, but rather a specialized surgeon. “It creates a bias in favor of action and against playing politics,” Robert said, then commenting that Interim CEOs are “trying to solve a problem and work themselves out of the job.”
Association RED Team Member and Interim CEO, Richard Lindenmuth, is also interviewed sharing about his turnaround of Styrotek, an agricultural packaging company in California that contacted the Association in the midst of a 3-month drought and big financial losses. Dick was able to parachute in as Interim CEO and get the company quickly back to profitability. He says “you really have to listen – the solutions are generally within the company.”
Despite the bitter Chicago cold, wind, ice, and snow (sounds appealing doesn’t it!?), there is something energizing about this time of year. January is a fresh start. A blank slate. But also a time to apply lessons learned. It’s easy to jump back into the daily grind without first reflecting on what actually happened the previous year to set a strong foundation for growth in the year ahead.
There were a lot of moving parts that made up our year at the Association of Interim Executives. Thousands of conversations with owners and executives, further development of the Rapid Executive Deployment program, our first interim executive annual conference and more. While those developments were visible signs of progress, there were underlying themes that helped serve as a driving force.