In mid-2007 the Thomson Corporation announced its intentions to acquire a controlling share in Reuters – one of the best-established names in the media and information world. By joining Thomson Financial and Reuters together, the new organisation would have around one third of global market share across the highly lucrative business and financial information markets. True North was engaged by the integration committee to deal with the challenging task of reorganising and merging the marketing functions of the two organisations – all 550+ people, spread across all five continents. Our role as consultants was to ensure that the right people ended up in the most appropriate posts while also helping the organisation to rationalise the function by around 25%.
One of the key objectives was to ensure that the new organisation was leaner and more dynamic but still retained the same approach to the development of market leading products that were well commercialised and marketed. The challenge of this particular task was the complexity of bringing two very different cultures together in such a way as to ensure that the organisation found a home for its best people in roles where they could still find the freedom to express their talent and make a valuable contribution.
True North adopted a strategy of workshops designed to operate at several levels in order to help identify the common ground between the two groups of employees and create some common objectives and goals around strategy going forward. We also created an assessment model to help articulate what the Thomson Reuters corporate DNA would look and feel like in the future and started to use this information to create and image of what it would be like to work in the new marketing department in the future. Ultimately, True North delivered senior line managers talent models to help each of them plan more rigorously around the kind of people they needed to bring into their teams to build the strongest possible function. We assessed a large proportion of the employees within the marketing structure, which provided line managers with an independent and consistent means to evaluate one internal candidate against another in a selection process that would ultimately lead to wide-scale redundancies.
About True North
True North advise and build the leadership and management teams of some of the world’s most innovative and fast growth technology enabled businesses. We also work with corporates undertaking ambitious change and transformation.
For more information about this project or our other services please contact Norman Burden or email us at firstname.lastname@example.org.