Established in 1971, Toly had become a global supplier of high quality packaging for the cosmetics industry, yet in late 2013, the CEO, Andy Gatesy, felt the business was stuck with annual turnover flatlined at around €50+m. It was around this time that Andy invited Simon Preston of RISE to take a look and offer his insights. Today, in 2018, Toly is confidently heading for a turnover of €100m and despite the complexity of rapidly changing markets, they can continue to make significant strides into new markets and areas of growth.
In our own consulting practice, we are dealing with a number of family businesses as well as RISE being a family business. Leadership transition, especially between generations, is a very critical step in the journey of a company. Change of leadership always brings countless opportunities to take the company to the next level. At the same time, it creates unnecessary friction in a business, especially when the ownership group and/or CEO feels powerless to constructively address these issues. This can become an elephant in the room, bleeding energy from the management team. When this leadership transition takes place within a family business a whole set of additional complexity is introduced.
How diverse is the community of people that influences your thinking? Do your people have the ability to think and draw conclusions? Can they adapt to changes, and learn quickly? If you can answer positively, you’re likely to have an agile and adaptable workforce, the modern prerequisites for resilience in performance. Maybe you’re already a leader with a collaborative mindset.