Hermann Gudmundsson, CEO of Esso Iceland (supplier of fuels and lubricants) was expected to start merging Esso Iceland Bilanaust, Icelandic auto parts retailer with the end result a whole that will be dominant in their respective areas. Icelandic economy grew at favorable terms and Esso enjoyed its position as a leading supplier of fuel in Iceland for the last 60 years, with 40 percent of the market. Gudmundsson and his partners bought the Esso Iceland in 2006 from a private equity firm, which was aimed at removing Esso Iceland until its fuel core business, using the staff reductions in the cost reduction program. Gudmundsson said that Esso Iceland was unused resources that can only be enhanced by cross-selling interactions result from the successful integration of over 500 accounts in the two companies. His main concern was to lead the combined organization to achieve these goals in the next two years without destroying shareholder value. "Hide
by Ken Mark, Tony Frost, Gerard Seijts Source: Richard Ivey School of Business Foundation 5 pages. Publication Date: September 3, 2010. Prod. #: 910C16-PDF-ENG
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