CASE STUDY: DONNA KARAN INTERNATIONAL
The Challenge: Facing tremendous opportunity in the marketplace, the company’s internal reality was that it was perilously close to insolvency. The founders controlled the creative process, but the shareholders were demanding accountability. And the board was experiencing frustration while working with the founders to hire a new CEO.
The Process: Sarkady was brought in to be the personal leadership coach for the founder and the chief designer. At the same time, Sarkady began advising board members and other senior executives. The first item of business was to bring the board together as a functioning body. Concurrently, we convened a cross-functional team of managers inside the company to cut costs and identify areas ripe for re-structuring.
After the hiring process for the new executive was completed, Sarkady worked with the CEO as a personal coach – while bringing together a management team. The work involved developing a new culture of professionalism at the company, and building a top level management structure. Systems and processes were instituted. A strategic planning process was put together that clarified a three-year plan and re-defined and re-positioned the brand.
The Result: Within 12 months, Donna Karan International was stable and moving toward profitability. |
