In 2006, Hermann Gudmundsson (Chief Executive Officer [CEO] of Bilanaust, Icelandic automotive parts retailer) was part of a group of partners who purchased the Esso Iceland. He was subsequently appointed to the position of General Manager in Esso Iceland. Both companies were very different: Bilanaust considered a real-time needs of the clients, a wide range of products, and enjoyed a growing market share and profits. Esso Iceland is 12 times the size of Bilanaust, skilled in the design and implementation of medium-and long-term strategies, as well as worked in the stagnant market. Gudmundsson appreciated the opportunities in front of him can be wrought from the successful merger of the two companies, or it would be better to keep the two separate entities? He found that a lot of work to be done to get consensus around the right strategic direction for the future. Careful thought identified three areas of initial focus. 1) improving the morale of the staff, and 2) the creation of a sense of optimism, 3) the placement of effective leaders at key points in the organization "Hide
by Ken Marcus, Gerard Seijts Source: Richard Ivey School of Business Foundation 6 pages. Publication Date: September 3, 2010. Prod. #: 910C15-PDF-ENG
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