Michael_A._Hitt,_R._Duane_Ireland,_Robert_E._Hosk

C-120 Part 4: Case Studies

■■Step 1: Planning session(s) to understand expecta-

tions and deliverables of the project.

■■Step 2: The facilitation of design meetings with

cross-functional leaders to create the initial draft of

the leadership model.

■■Step 3: Online content validation with the entire

leadership population to generate refinement and

Values-Based Leadership acceptance.

■■Step 4: Recalibration of the model to include feed-

back from the content validation process.

■■Step 5: Senior leadership team validation and blessing.

■■Step 6: Final balancing of the model.

■■Step 7: An initial 360 assessment of the top leaders to

test out the model.

Steps 1-6 took approximately ten months. The frame-
work of the model was designed to:

■■Advance our values-based culture.
■■Build Exceptional experiences with our customers
and constituencies.
■■Drive Differentiated growth.
At the end of 2007, both the Chief Financial Officer
and VP of Human Resources announced their retirements
in 2008 and 2009 respectively. These pending retirements
gave Charlie the opportunity to examine the structure of
his senior leadership team to ensure that the proper infra-
structure would be in place to drive future growth.

New Strategic Leadership Team

There were several key changes to the senior leadership
structure. First, Charlie decided to add a Chief Growth

Officer position to the team. John Pullen was appointed

to this position and tasked with the responsibility of driv-

ing differentiated growth and financial results across the

enterprise. Each business unit would report directly to

John. The other key change was the creation of a Chief

Leadership Officer who would be responsible for the over-

all strategic and tactical support of the acquisition, devel-

opment, and retention of high performing talent. This

position would have direct accountability for working

with other senior leaders to bring the leadership model to

life. Mark Fernandes, who had been president of Charles

Luck and Har-Tru, was selected as the Chief Leadership

Officer. In short, Charlie’s intention for these positions

was to manage and succeed, in parallel, best in class finan-

cial performance and organization wide values alignment.

Another key change to the leadership structure was

the addition of a Chief Family Officer. Wanda Ortwine

was appointed to this unique position and tasked with

the job of developing the leadership and competencies

of Charlie’s family in preparation for the future, handling

family investments, estate planning and serving on the

Strategic Leadership Team to transform the organization

in alignment with the mission.

After contributing over twenty years of service to

the organization, Jim Parker, retired and was replaced

by Roy Goodman who was appointed to the position of

Chief Financial Officer and Vice President of Finance,

Luck Companies. Prior to joining Luck Companies, Roy

had been the CFO for RealNetworks, a high growth

technology company located in Seattle, Washington.

The organizational changes were announced in the

spring of 2008, and an orderly two-year transition plan

was put into place. However, three unexpected events

Chief Family

Officer

Chief Financial

Officer

Chief Growth

Officer

Chief Leadership

Officer

New Strategic Leadership Team

CEO

Chairman