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The DIA of Tomorrow: Can New Ownership Turn Around the Business?

In 2019, seven years after going public, DIA, the third largest supermarket chain in Spain in revenue, was going through the most important crisis in its history. That year it had narrowly avoided bankruptcy, thanks to the intervention of LetterOne, the investment fund of Russian tycoon Mikhail Fridman who, after a long, complex and controversial takeover, had become the largest shareholder in the company. One of LetterOne's first decisions, in May 2019, had been to put Karl-Heinz Holland in charge of the company, as well as appointing Stephan DuCharme as chairman of the new Board of Directors. The case reflects on key issues for the new CEO and Board: What should be the priority areas for the new CEO to move the company forward, keeping in mind the learnings of what happened to the company up to 2018? What should be the priorities and contributions of DIA?s new Board of Directors to ensure the viability of the company?

Collection: IESE (España)
Ref: SM-1712-E
Format: PDF
Number of pages: 34
Publication Date: Nov 18, 2021
Language: English, Spanish, Portuguese Portugal

Description

In 2019, seven years after going public, DIA, the third largest supermarket chain in Spain in revenue, was going through the most important crisis in its history. That year it had narrowly avoided bankruptcy, thanks to the intervention of LetterOne, the investment fund of Russian tycoon Mikhail Fridman who, after a long, complex and controversial takeover, had become the largest shareholder in the company. One of LetterOne's first decisions, in May 2019, had been to put Karl-Heinz Holland in charge of the company, as well as appointing Stephan DuCharme as chairman of the new Board of Directors. The case reflects on key issues for the new CEO and Board: What should be the priority areas for the new CEO to move the company forward, keeping in mind the learnings of what happened to the company up to 2018? What should be the priorities and contributions of DIA?s new Board of Directors to ensure the viability of the company?
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Year: 2019
Geographic Setting: España

The DIA of Tomorrow: Can New Ownership Turn Around the Business?

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"The DIA of Tomorrow: Can New Ownership Turn Around the Business?"