Aligning the Board and Management During Corporate Transformation

The first step in achieving a successful corporate transformation is determining the reason for the change. If a crisis triggered the upheaval, your stakeholders’ faith in the organization may have waned. In that case, you might want to rethink the makeup of your board and management team. To guide your company through the mayhem, create a “transformation office.” Assign people you trust to this team. The best candidates aren’t necessarily your top executives. Seek candidates throughout your organization: The team must represent all departments. The transformation office will need to work around the clock...