Further to several articles posted on our blog, we believe you
have a good understanding of how to turn around a company. As promised you
much earlier that we ALWAYS uphold our policy to share with you our knowledge,
skill, expertise and experience. We do so because we wanted to pass back to the
world which we have been benefiting from. We do what we preach. Transparency
and consistency are two key indicators to verify such an act.
IN this connection, I will like to let you know that I learn
about Lee Iccacoa who turned around
the General Motors during the
seventies. I was amazed with this guy and hope one day I may have the chance to
apply what I have learned from this great author.
During my tenure with Time Advance Products, I was given an
opportunity to work with a General Manager to turn around this sick
company. After a couple of months of hard work, we were about to turn around
the Said company. We have prescribed some of the formulae, suggested in my
preceding articles, which stopped the company from bleeding further. Various
measures such as shortening its cash cycle and fixing the cannibalized machine
into a functionable machine to be sold for cash. However, that General
Manager left due to a better offer from another company. As a result I was left
alone there. I eventually left the company after I realized that a wrong guy
was put in charge. It proved me right that the company was sold off to third
party after I left.
That time I didn't really complete my mission as a Turnaround
Manager.
However, I was put into a real test again when I was the
Financial Controller of Transmile Group Berhad during the Asian
Financial Crisis in 2007. Because of my past exposure, I responded with
calm and steadiness. At times, I even laugh it out, as a way to release myself,
especially when I was hit by numerous occasions such as Section 218 notice,
Seizure notice, etc.
My boss who trusted me, throughout my past performance, so much
that he gave me so much authority to implement several drastic and effective
plans to keep the company afloat and continue to service our bankers, suppliers
well after some restructuring exercises.
Thank God for putting me there to go through the entire cycle,
which was a real sweet and rewarding job, although it was not easy. I finally
achieved my dream to become a turnaround manager in 2009, at the age of 38.
Good things did not end here. The Senior Management, at that time, decided to
transfer me out from the finance for whatever reason known best to them. The
rest is not relevant.
I took it as an opportunity to pursue my law degree so that I
can peruse my other dreams. The rest is history. Again, it proves in my favour
now as I have seen the light.
No comments:
Post a Comment