Developer of Renewable Power Plants
The client is a very well-respected developer of photovoltaic power plants in Germany. The company entered the United States and hired a CEO who recruited six employees. Headquarters was in the hometown of the CEO in New Jersey. 12 months after the subsidiary was incorporated the order intake was $500,000 – far from covering even the payroll.
TH Bender was asked to develop a criteria matrix for each position and benchmark all employees. The board decided to reboot the corporation. We were able to headhunt a group of proven executives from a competing company that was in financial distress. It was possible to transfer almost the complete pipeline of business. After 18 months the project pipeline was $175,000,000. The project ended with the German parent being able to sell the now highly profitable US subsidiary to a large engineering company interested to enter the booming American market.