Helped the Country’s Second Largest Retailer Repair Its Tarnished Image
By the time a new CEO took over the nation’s second largest retailer, with revenues approaching $95 billion, the company’s rapid growth and entrepreneurial fervor had caused it to hit a wall, although this was not immediately apparent to the external world. The problem: It could no longer coast on its earlier success, and the media was already reporting on its lack of appropriate investments in its people, technology and operating systems, along with its much-needed store remodeling. Marston’s challenge: Position the new CEO as a strong leader who was making immediate and necessary changes to the company, despite the fact that most stockholders and consumers were unaware that problems even existed within the company.
Marston interested major national business media in writing about the new CEO’s challenge in taking over the company.
Results in the first phase of the program included:
- Numerous appearances on CNBC’s Business Center, CNN’s Lou Dobbs Tonight, CNBC’s Special Report, Squawk Box and Market Call programs.
- An Institutional Investor story on the CEO’s leadership in a major turnaround achievement.
- A Barron’s story describing the company’s great success in rebuilding its business model.
- A Wall Street Journal “In the Lead” column that mentioned how quickly the new CEO had improved the company’s balance sheet.
- Two Financial Times articles on the new CEO’s push to implement new technology at the company’s stores and of the company’s extensive successes.
- A Chief Executive Magazine cover story on the new CEO’s IT spending and store improvements that contributed to the company’s turnaround.
- A 12-page article in strategy + business magazine, outlining, in detailed case-history format, how the company became of the world’s most visibly successful turnaround stories.