STW flags further mergers and restructures to take greater control of its business
STW Group has unveiled a new management structure, and flagged a “range of business mergers”, as the embattled company aims to take greater control of its subsidiaries and instil “financial discipline” across the business.
It has formed 14-strong executive council (EXCO) with each of its divisions reporting into an EXCO member.
Chief executive Mike Connaghan will take charge of agencies, chief strategy officer Rose Herceg will have responsibility for data and digital labs while Ogilvy chief executive David Fox will oversee shopper and activation.
STW has named Phuel co-founder and MD Gavin Dunn as its new chief talent officer. The retention and development of staff was a “major battle ground”, STW said.
Don’t the titles of the management team tell you where the problems are? Value Add?
I would get that 14 to 6, harder decisions need to be made i think
@chris. Agree. 14 is too unwieldy for even a good dinner party.
A Gang of Four, or six, gets results.
Yes, toes get stepped on, egos bruised. But the work of management and direction gets done.
No market update is complete without the ubiquitous “leverage our synergies” line.
Maybe they should acquire AJF
Heard theyre close to selling
Talk about an update about nothing. I was expecting write downs.. Instead it was a task force. Those always work well…
To the commentator above, acquisitions are off the cards according to yesterday’s briefing. Divesting under performing businesses is the new focus.
Now, what to divest?
I’d divest Chris Savage’s plastering business for one.
http://www.chrissavage.com.au/