Case study | Building Leaders of the Future – Diversified Holding Company

Emerging Leaders Development

Building Leaders of the Future – Diversified Holding Company

The Challenge

A regional private company with large scale ambitions was faced with increasing competition, a need to pivot and a young and inexperienced bench sitting below executives that were nearing retirement age.  The company was looking for a way to fast-track development of a small group of emerging leaders.

Merryck Support

Merryck designed a cohort for this targeted group of emerging leaders.  The team would be tasked with driving a new strategy to present to executives for multiple parts of the business.  Merryck led intensive group sessions coupled with customized 1:1 mentoring for each participant.  In addition, Merryck conducted detailed interviews to gain valuable insights, data and feedback on the company and each individual.  Merryck also helped the team prepare for regular presentations to the executive leadership team.

Impact

  • The team initially aligned around a new strategy that was presented and accepted by the executive team
  • The team also drove a major cultural transformation initiative designed to better enable the strategy
  • Two of the three most senior executives retired and were replaced by two members of the cohort
  • One of the leaders was tasked to lead the largest segment of the business that was a centerpiece of the strategy, and also required some dramatic retooling and innovation
  • Another was tasked with leading a more stable segment of the business, and eventually had the courage to recommend and then execute on its sale at a significant gain
  • In a recent decision, three of the cohort members have all been elevated, including one tasked to become the CEO in the near future