Client Success Stories
ISSUES: CEO TRANSITION, GROWTH, CHANGE
A biotech company affiliated with Stanford University had developed a cutting edge therapeutic neurological device that was beginning clinical trials. The board and CEO were ready to take the company "to the next level" but needed a clear comprehensive plan and approach which would minimize disruption to the company in the marketplace, position it to obtain new investment and be a smooth transition for new leadership and the employees. The company CEO, a physician, wanted to remain with the organization, but in a clinical capacity and transition from daily executive leadership duties.
EiG worked with the company's CEO in providing "Executive Coaching" for weekly meetings for nine months to identify solutions to important strategic and operational challenges. In addition, EiG provided the board of directors a transition strategy and implementation plan that was shared with employees in a series of "forums". The company has a new CEO and is embarking on the next phase of funding.
THE ISSUES: CORPORATE CULTURE & GROWTH
A public biotech company in the midst of rapid growth and change was needing assistance in managing the personnel aspects of the change in culture and in the roles and responsibilities of the senior managers. Although they could not identify any "problems" they were aware that the rapid growth and change could potentially negatively impact their ability to make tight timelines and generally run smoothly.
EiG worked with the company's CEO, senior managers and all higher level new hires to assist the company in addressing the change in culture as well as the aspects of the culture they wanted to keep. EiG provided the senior management with a consistent language and method of interacting with all employees that made the employees confident that the change would be positive in nature, although they had to suffer through the stress of the change. The company's stock value increased 250% following the culture transformation of EiG performance efforts.
ISSUES: CEO MENTORING & GROWTH MANAGEMENT
A first time CEO was working within a small biotech company that had recently raised a significant B-round funding from experienced venture companies and other investors. The board, and the CEO, were concerned that the speed in which the company was moving was too fast for a first-time CEO to handle and that he would have significant difficulties in managing the company as well as the board and the new investors.
EiG worked with the CEO to educate him on the potential pitfalls in managing the people and the board in this company. We also provided him with a sounding board to assist in dealing with his concerns about his decisions and skill set. EiG provided tools for board management as well as tools for managing the team that was changing in its composition.
ISSUES: EXECUTIVE TEAM ASSESSMENT & TRANSITION MANAGEMENT
An emerging life science company had experienced rapid growth and was positioning for the next stage in its development. It needed to evaluate its executive team to ensure they had the "right people, in the right positions at the right time" in order to make the transformation.
EiG conducted extensive assessments, including 360 evaluations of the senior executives to determine their skills, talents, effectiveness and their future roles within the company. This included utilizing EiG online MDF analysis, on-site interviews and customized human capital development action plans for each of the executives. The company, in conjunction with EiG, implemented its executive team restructuring, transitioned the corporate strategy and pursued a new direction in six months resulting in the company closing $30 million in new funding from investors.