Within a week of asking, we deployed one of our transformation experts, who was a finance qualified former CEO with deep sector specific experience. They started the discovery phase immediately and within 6 weeks had created the change plan. The executive board agreed the solution that was presented and gave board approval for the change to happen at pace.
The Situation
A large UK utility company needed to separate a £200m division quickly. A regulatory deadline was in place and the Executive Board was becoming concerned that the business needed to act faster to comply.
Regulated industries are mindful that change projects must satisfy the Regulator as well as the business and its customers. In these situations, we often work in partnership with one of the large management consultancies. Williams Bain will typically deliver the project and the assurance practice from the consultancy will assure the work to satisfy the regulator and the Executive Board.
The Solution
The programme plan identified a large skills gap in the resource plan, the business had not delivered change of this type previously and didn’t have the skills in-house. As the key priority of the plan was to deliver at pace it was decided that we would build a team of interim experts around our lead interim expert. This approach to change delivery also gave the CFO more options when accounting for the programme costs.
The Result
Our involvement in this case is ongoing as the Board steers the business through major change.