Lyons, currently general manager Harry Gray Associates, a consulting and investment firm, has just approached the executive recruiter is GenRad, a 78-year-old electronics company headquartered in Concord, Massachusetts. The company that produces integrated software and test systems for electronic equipment, was one of the oldest companies in Massachusetts technology. By the early 1980's, he became a leading provider of PBX and related software. However, in the middle of this decade, GenRad began to suffer huge losses. By the end of 1992 GenRad continues to bleed, and the company has blown $ 185 million of equity, leaving it with a negative net worth. Stock price had collapsed and shareholders threatened legal action. As Jim Lyons considering taking CEO GenRad appointment in June 1993, he was considering a few questions about the company and their personal priorities. Was it just "lousy business", as many analysts believed, or whether it has a strong potential for growth and profitability? Even if the industry has the potential, after nearly a decade of mismanagement and debilitating results may GenRad saved? With no experience in this kind of business, Lyon will be eligible to work? But the work has meaning for him at this point in his life and career? If he accepted the appointment of Director General, he may submit a plan of action in his first months on the job? "Hide
by Ed Zschau , Matthew C. Verlinden Source: Harvard Business School 15 pages. Publication Date: April 23, 1998. Prod. #: 698095-PDF-ENG
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