Our client is a global pharmaceutical company encompassing consumer health, vaccine, oncology and rare disease business. It employs 100,000 people in 40 countries and sells its drugs via distributors in an additional 50 countries.
The business had been lagging market performance for several years, and a new CEO was appointed with a turnaround mandate. He restructured and created a more focused, ambitious strategy, but he could also see that a large part of the challenge was cultural.
Our diagnosis revealed a deep-seated loss of confidence, leading to passivity, risk aversion and a lack of ambition, to working in silos and to focusing on activity rather than output.
The anecdotal feedback from the ExCom members is extremely positive which has prompted further, deeper work with them as a team, as well as two additional top 150 leaders’ conferences to maintain the momentum and equip them to spearhead the transformation to the next stage.