FEATURED CLIENTS:
Success Stories: Case Studies
Collaborative Problem Solving: Retail
Longevity in Relationships: Apparel
Integrity in Consultation: Footwear
Collaborative Problem Solving: Retail
The Situation
The new CEO of a $2 billion vertical retailer was facing an imminent decline in market share, due to a highly competitive environment in its channel. The company was burdened with a dense layer of management – some of whom had a long tenure with the company, while others were a part of a short-term “revolving door” contingent.
The Challenge
EAH was retained to work with the SVP of HR and the CEO on an evaluation of the current management team – and to determine how effectively the organization was positioned in the competitive landscape.
The Results
EAH conducted a thorough competitive analysis of senior management throughout the specialty and vertical retail sector. Based upon the results of that analysis, a determination was made to recruit a new team of talented executives broadly from a range of high-performing organizations within the sector. The new leadership team, put into place by EAH in the fourth quarter of 2008, has produced remarkably positive results in the very difficult 2009 economic climate.
return to the top
Longevity in Relationships: Apparel
The Situation
A new President was appointed at an iconic apparel company reporting to the CEO and founder of the firm. The company, with annual sales of $1.5 billion, operated under a single brand name with distribution to the department and specialty store sectors.
The Challenge
With company stock trading at a historic low of $14 a share, the new President was confronted with a highly competitive environment – including a surge of vertical retailers focusing on a younger and more casual consumer. EAH was engaged as a recruiting partner, and supported the President (who later became CEO) on a broad range of initiatives – including organizational evaluations, creating new divisions and developing an internal recruitment process to reposition the company and build an internal bench of talent.
The Results
Over the 13-year period that EAH was engaged, the company’s stock rose from $14 a share to $45 a share; the single-brand structure evolved into a multiple brand, multi-channel strategy which has been emulated throughout the industry. During this timeframe, the company enjoyed successive quarters of positive comps and double digit growth.
return to the top
Integrity in Consultation: Footwear
The Situation
A Midwest shoe company was facing imminent bankruptcy. Through their lead bank the board hired a non-industry consultant to evaluate the business. The consultant as well as the bank felt that an extension to ‘stop the bleeding’ was warranted and the consultant was charged as an interim CEO. Within 12 to 18 months, the CEO developed a plan to stabilize the company.
The Challenge
The board engaged EAH to recruit a permanent President who eventually would become CEO to reposition the company and restore it to profitability. The board submitted a position description to EAH which included the standard requirement including a pre-eminent reputation in the fashion business.
The Results
The board originally selected as its first choice a candidate who met all of the criteria, but who also wanted to move the company east to be in the ‘epicenter ‘of the market. The second most favored candidate had seniority in the footwear industry but did not share the need to move the company – and was willing to maintain homes in the Midwest as well as on the West Coast.
The board was stalemated over this choice. EAH suggested a special meeting to discuss the issue. Instead of making a case for either candidate, EAH presented a list of questions to the board. The questions produced an objective evaluation of which candidate would best serve the interest of this 50-year-old company. As a result of this process, the company’s stock has risen from $2 to $12, due to the implementation of a successful multi-brand strategy, multiple acquisitions, a new licensing agreement and a strong cash position.
return to the top