succession plan

Succession plan for Oil & Gas Tech company

succession plan

Case Study27th Aug 2021

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Our Client 

Successful UK based Oil & Gas technology business with a core market in the North Sea. An ageing senior management team and shareholder group retained all company knowledge but had no strategy or succession plan to address inevitable future change. There was a significant gap in age profile and competence in the company as well as increased business risk and diminished longer term sustainability. 

Our Approach 

  • Facilitated shareholder and management workshops to understand current business and practices 
  • Utilised SWOT analysis to provide input to business strategy development 
  • Created a project managed structure to plan for the future, including: succession planning, communication, recruitment and share restructuring

The Outcome  

  • Defined company purpose, vision, values and strategies for use in internal and external communication 
  • Installed business sustainability and management continuity 
  • Introduced management systems to address planned and unplanned change 
  • Introduced staff development channels and succession opportunities 
  • Provided a business strategy to be used as a structure for future projects and strategic growth areas 
  • Improved efficiencies in internal processes 
  • Added value to the business 
  • Increased future options available for the business (e.g. potential disposal) 

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