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Famous Owners Are Freed from Day-to-Day Management Tasks The Challenge After the president of a sports management company left, the primary support functions of the business were reporting directly to the owners, a married couple. Rather than immediately search for a new president, the owners - celebrities in their field - engaged an ABTV professional to serve as interim Chief Operating Officer. The Art of the Rebound This profitable and prosperous company was not in a turnaround situation. The accounting/finance, risk management, human resources, and information technology functions, as well as several ancillary businesses, began reporting to the ABTV interim manager. What was originally intended as a six-month engagement was extended five more years, allowing for valuable reorganization and improvement of the business. The Outcome The accounting department was reorganized and a new controller was employed. The information system was upgraded and expanded. The company's first web site was launched. A formal employee evaluation process was established, and benefit programs were revised to meet changing conditions. The high-profile owners of the company were freed to concentrate on aspects of the business that needed their particular expertise and presence. |
