Interim Managing Director Successfully Establishes New Business Channel for Yamaha Motors
Offering wholesale financing to dealers had always been part of Yamaha Motors’ business proposition and distribution strategy and over the years they’d maintained relationships with various banks. But when one of their key financial services partners pulled out of Canada, to continue lending to dealers, Yamaha Motors decided to build its own financial services arm.
After working with a management consulting firm to develop a strategy for the new operating model, they came to Odgers Interim seeking a leader to build this division from the ground up.
While Yamaha Motors was unsure if they needed a full-time employee or an interim managing director to build this division, Odgers Interim recommended hiring a seasoned interim executive who had formerly worked at Honda. This interim project manager understood the cultural nuances of doing business in Japan and had experience running financial services for this industry.
Within a couple of weeks, the interim managing director had started executing on the strategic plan and the Yamaha Motors team started to see momentum. As a fresh set of eyes, he pushed the team to think outside their internal biases and critically challenged their perspectives in ways that brought new light to the project.
He began by identifying and connecting with vendors and developing internal scoring metrics to govern vendor management. Additionally, he:
- Assessed the competitive landscape
- Established organizational structure to guide the new division
- Ran the education and training of internal management
- Brought the strategic vision to life
The interim project manager brought vision and experience to give direction and establish structure at Yamaha Motors, and wasn’t afraid to dig into the tactics to accomplish what was needed. Additionally, he left a legacy of knowledge by taking time to coach employees and impart valuable insights from his industry experience in similar businesses. Yamaha Motors didn’t measure the ROI of this engagement in dollars, but rather through the value to be generated for years to come.
Key results included:
- Successful establishment of a new, sustainable business model.
- Deep legacy of knowledge imparted to team through education and training.
- New structure established through standardized processes, documentation and tools.