At the time Xantic was a globally operating satellite communication services provider active in 138 countries, with offices in 25 countries and a joint venture of Dutch KPN Telecom and Australian Telstra. In 2006 Xantic was acquired by Stratos Global Corporation.  

Situation

When I joined Xantic, the company was experiencing significant turmoil. I was the fourth CEO in just over a one-year period, our market share was decreasing, the financial position was deteriorating and we were confronted with significant business challenges. Internally people did not yet seem to grasp the seriousness of the situation and the need for drastic measures. The house needed to be brought back into order and we needed to return to the path of a growing market share. A challenging job, for which I needed support from a trustworthy external partner. For that support I called upon Nolan, Norton & Co.

Why Nolan, Norton & Co.?

I had already worked with them when I was part of the restructuring team of the Dutch Broadcasting Company (NOB). I was impressed with the speed and clarity in which they were able to structure the discussion on a key strategic decision and extract the key elements that really mattered. When I arrived at Xantic, I needed strong support in developing a restructuring plan and a new budget under significant time strain. A role for which Nolan, Norton & Co. was highly qualified, given the knowledge they had already build up of Xantic, and their commitment to delivering results.

My experience?

Perhaps I can best describe it in this way; despite all the turmoil and the killing pace in which we were working, I was never worried whether they would deliver. They really helped me to convince both my supervisory board and my own team to support the right decisions. They brought a team of people on board which worked together like a Swiss clock, but who were also pleasant to work with. And no unpleasant surprises, not in terms of delivery and not in terms of their fee. After their initial role in the turnaround, they stayed on board for multiple execution assignments. All in all, it was a very effective and pleasant experience!