Preparing a successful transition between generations: through strategic support and a personal development agenda.
Manufacturer of GMID tags and RFID chips in Western Europe, with annual revenues of €200M, 2,000 employees and an expert share of over 80%.
The client was a facing a multi-year decline in revenues that worsened just as the founder’s son (40 years old) was supposed to take over at the helm of the company.
As a reaction to the challenging business situation, the father (75 years old) kept his office in the company’s headquarters and was present daily. Hence he continued being the key go-to person for all key leaders, served as president of the advisory board and kept holding 100% of company shares.
In a series of 1:1 sessions with the son and successor, LWC identified and defined his profile of strengths and weaknesses and devised a comprehensive set of leadership coaching and further development measures.
Together with the successor and the company’s leadership team, LWC developed a long term strategic ambition, tangible targets and practical initiatives for the subsequent two years. Through working hard at his own, personal growth and at defining the future strategic trajectory of the firm, the son strengthened his father’s trust in his abilities. He also gained support of the advisory board and created a strong intra-company alliance for the chosen strategic initiatives.
LWC accompanied the son over the course of two years through monthly working sessions (and ad hoc meetings where required). In this context, LWC served as a thought partner for the son’s strategic and daily business agenda, as well as for his own positioning as the future leader of the company.