Case Study: Zebra Technologies
Challenge
This founder led business has enjoyed tremendous success and growth since its IPO in 1991 reaching $4.5B in market capitalization. The company had accumulated over $500M in cash with no debt, yet was having difficulty acquiring companies to position the company for continued annual growth in excess of 15%. In addition, the founder did not have a successor in the ranks, and he was nearing retirement.
Solution
The company retained TillmanCarlson to recruit two key leaders over a period of two years. Recognizing the strength of the founder and the emphasis on succession, TillmanCarlson recommended recruiting a technologist with general management depth and a track record of acquiring and integrating companies. Success in recruiting the leader of Corporate Development then led to the mandate to formally launch the search for the company's next CEO.
Result
TillmanCarlson successfully recruited the Head of Corporate Development who acquired a strategically important company leading to a nearly 15% increase in the company's stock price and strengthening his standing as an internal candidate to become CEO. In addition, TillmanCarlson has assisted the Board in affecting the founder's successful transition by conducting the search for a new Chief Executive Office.
