A once robust and highly profitable publishing division of the company fell victim to a dramatic and unforeseen market shift, which created enormous organizational disruption and the rapid decline of the business unit’s operating performance. The operational headwinds included navigating the turbulence of a changing market, intense competition, the marginalization of the segment in which the division competed, and declining profitability.
Senior Vice President
As a 10 year senior executive at Ziff-Davis and proven growth leader, I was selected to oversee the restructuring and turnaround of a 200-person, $100 million division of two portfolio brands that had previously operated as independent (and competing) business units inside the company. Both brands were experiencing the pressure of a decaying market, intense competition, and a sharp decline in revenue and profitability.
Over the course of the two-year assignment, I effectively rescued and restored the business, achieving all but one of the strategic objectives. Revenue grew 12 percent, market share improved 21 percent, and EBITDA increased 16 percent, leading to a successful formation of a strategic joint venture with a chief rival.