Business transfer model 3 – Transfer to company executives

Business Transfer Model 3 - Transfer to Company Executives

Cases

Business Transfer Model 3 – Takeover by Company Executives/Management Team

Transfer description The LenSpecSmu company was founded in 1987 by Viacheslav Zarenkov. LenSpecSmu operates in the field of development and construction. The company focuses on residential property for the middle class in St. Petersburg, where it is represented by the brand “Etalon LenSpetsSmu”, and also on construction in Moscow and Moscow region. In 2017 net profit of the company amounted to 7.9 billion , annual turnover was 70.6 billion . During 30 years working in the real estate market, the “Etalon” Group has built more than 200 properties with total area of more than 6 million square meters. The founder Viacheslav Zarenkov is the author of about 200 patents for inventions and realized over 30 construction investment projects. Dmitrii Zarenkov started to work in his father’s company in 1998 after getting experience at a leading position in another company. He became deputy director in LenSpecSmu, then he was appointed CEO and finally Dmitrii became the chairman of the Board of directors. For his successful work and achievements Dmitry received numerous awards and prizes. He became “Honorary Builder of the Russian Federation”, “The best Manager of St. Petersburg” and “The best Manager of the Year” on “Golden Manager” competition. However, at the moment the company’s transfer under its top manager’s control is being discussed in construction industry. In the end of 2017 there was strong decline (by 1.5 times) in stock price of the company. In summer 2018 Viacheslav Zarenkov and members of his family started selling their shares in LenSpecSmu. Sources: official site of the companyhttps://lenspecsmu.ru/about/news/etalon_group_usilivaet_komandu_menedzhmenta Business Petersburg – 2016https://www.dp.ru/a/2016/09/22/GK_JEtalon_pokidaet_star Parlament – 2018http://www.parlamentua.com/item/37619-vyacheslav-zarenkov-vyvodit-svoi-doli-izetalona-%20chtob-potom-obankrotit-gruppu Facts PreviousCurrentOwnerViacheslav ZarenkovDmitrii ZarenkovLegal form of the company LtdLtdNumber of employees More than 5.000More than 5.000 BrandModel of transferInvolved institutionCountryEtalon LenSpecSmu3 Transfer to company executivesRussia […]

Steps to a successful business transfer:

Step 1 – Clarify the expectations on both sides
Make sure that everyone’s intentions are clearly understood.

Step 2 – Draw up an action plan for the company
A strategic action plan will allow you to take stock of the current position of the company, to identify corrective measures to apply immediately, to outline the key elements of company’s future orientation and to determine what action to take to achieve fixed objectives.

Step 3 – Evaluate the abilities of the company executives /management team
The strategic planning exercise will allow you, among other things, to determine the human resource needs of management.

Step 4 – Establish a training plan for the successors
A training plan in due form for each member of the management team is a very useful undertaking.

Step 6 -Be aware of the issues related to the transfer of management
You must also consider the consequences of failure in your attempt to transfer the company to management. You should not forget the members of your family.

Step 7 – Do not hesitate to call on experts who can provide assistance
Becoming involved in the process of a transfer to management is demanding. Think about a consultant specialized in strategic planning or the help of a consultant specialized in human resource management