Magazine article Variety

Steady Hand in a Storm

Magazine article Variety

Steady Hand in a Storm

Article excerpt

A CHARISMATIC LEADER who dares to ruffle feathers, Frederic Rose stepped into the CEO role at Technicolor at a crucial time.

It was 2008, the company was flooded with debt and struggling to prepare for the transition from analog to digital.

"When we were at low tide, people said 'You need to cut your investment costs,' and I thought, 'OK, but if we do that and we don't drown, what do we do five years?,' " Rose told Variety. "My nightmare was to wake up out of this entire turnaround venture and realize that the bankers were happy but we have really nothing left."

Rose's strategic plan (called Amplify) reduced Technicolor's euro2.35 billion ($3 billion) debt by over $1 billion while maintaining its investment in technical innovation. Today, the company holds more than 40,000 patents and creates about 2,000 every year.

In order to get Technicolor back in the black, Rose says, he was forced to "spend a lot of time rethinking our entire workflow process and find ways to use more of our assets."

He had to be ruthless at times, laying off hundreds. "Since 2008, we've refocused and realized we were not a charity." He also points out that he's hired 600 employees over this year's third quarter. …

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