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Why Use an Interim Management Team?
Investors who are buying a telecom operating company, or a portion of one, usually believe they can add value over time and then sell for a price higher than the purchase price. But they know they cannot rely on the operator’s existing management to make the transformation needed to create the higher value.
Governments who are selling all or part of their stake in the incumbent telecom operator often require presentation of the credentials of the buyer’s management team as part of the formal tender process. This helps to assure the government that its citizens will be well-served and that the value of the company, in which it and its citizens often hold shares, will increase over time.
Investors face many difficulties in attracting the right management team to these countries and companies. For the potential candidates, issues include the management challenges, the role of the investor and the government, regulatory uncertainty, living conditions and family matters, and compatibility within the management team.
For the investors, the first problem is meeting the tender’s schedule while sourcing, interviewing, and vetting candidates who have both the functional ability and the interest in such an expatriate assignment. It is a small pool of candidates, not easily identified, and there is no protection if the investor’s guess turns out to be wrong.
The second problem for the investors is replacement of managers who are not a good fit with the organization going forward.
Telecom Expert Group provides the answer to both problems. Our experienced managers have the interest and the qualifications. They know and respect each other, and come from similar backgrounds where best practices are known and used. They have operating experience in multiple telecom environments. They have lived with your problems. They know where to look, and they know what works in various cultures. TEG has already vetted them. In addition, the special benefit of using a TEG team is that TEG takes responsibility for replacing them with managers of similar quality as individuals become ready to rotate out of the assignment.
See the website for links to two articles addressing why funds buying telcos seek interim managers, and the First 100 Days of an Operations Turnaround.
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