Vik Bansal- The Finance Wizard Transforming the Waste Management Sector
When Vik Bansal took over Cleanaway, the company was in dire financial situations. The now successful waste management company was then in a deep sea of debt of about 2.1 billion.
Fortunately, when Vik Bansal became the CEO, he provided strong leadership, cohesive strategies, and imminent changes the company needed to turn around. And in no time, the company had a market capitalization of more than 5 billion.
Vik Bansal knew that he first had to convince the public to have a different view on waste for the company to be a success. He wanted them to see that waste was not necessarily a problem to be fixed but a resource to be exploited to their advantage.
He was also aware that as much as the company was struggling, it had a great workforce at its core and worked on utilizing that advantage.
The turnaround for Vik Bansal Cleanaway
Developing a comprehensive plan
Unlike most CEO and leaders who would start branding, Vik Bansal decided to attack the problem head-on. He set the ball rolling by creating a solid operating model with a strong base that could, later on, be revised.
Having an Honest relationship with employees
He also ensured that he was upfront with his employees about the situation in the company. That made his workforce have complete trust in him and his ideas.
Unifying the Brand
Vik Bansal realized that the company would have better chances of thriving if it existed as a unique brand. Seeing that he presented the idea of having the company exist as a waste management company and everyone from the investors to the employees seemed to love the idea.
That ensured the company would be in existence for a very long time.
To solidify the company as a waste management company, he made strategic partnerships and acquisitions. For instance, he approached Toxfree and Daniels Health and was able to fold them into the company.
That move alone solely made the company become a success, with it skyrocketing to become one of the top 17 largest waste management firms in the world.
About Vik Bansal
Having served in various executive roles in numerous companies such as Valmont Industries Inc., it is no doubt that Vik Bansal was to be a great CEO. Adding on to that, having both a degree in Electrical Engineering and completed an Advanced Management Program, it is no wonder he has made such significant progress with Cleanaway.
Follow Vik via Twitter: http://Twitter.com/vikbansalCWY