BayHill Group Subsidiary 1.0 & Company
Receives Prestigious ASTD Award
1.0 & Company receives the 2004 "Exemplary Strategy and Change Management" practice citation award from the American Society of Training and Development recognizing its work with Intercontinental Hotels Group
June 6, 2004 – Provo, Utah — 1.0 & Company announced today that it has received the "Exemplary Strategy and Change Management" practice citation award from the American Society for Training and Development (ASTD). 1.0 is being recognized with this prestigious award for the work it did in conjunction with the successful turnaround of U.K. based InterContinental Hotels Group. 1.0 & Company was recognized and received its reward at the Excellence in Leadership Reception in Washington D.C.
"They got the very best out of their client," said Richard C. North, CEO and President
of the InterContinental Hotels Group. "They didn't tell us what to do or how to run a
hotel company. What they did was provide us with the way to work it out for ourselves
and never allowed us to take the easy option. Given their experience and knowledge of
both management and change they won everyone's respect for their point of view and won
their trust to accept the road they were taking us on. It was a very special experience
for us and one which in all probability will secure and independent future and ultimate
success for InterContinental Hotels Group."
In early 2003, InterContinental Hotels was faced with several challenging issues. The
company was being divested from its parent company and was under threat of a hostile
takeover. Profits were down by thirty percent, costs were out of line, the stock was
loosing money and the company was suffering financially. Shareholders and financial
analysis were very critical of the company's performance. A bureaucratic culture stifled
innovation and in the face of the aftermath of 9-11 economic downturn there were serious
questions as to whether the company could stand on its own.
Realizing the dire situation the company was in, Richard North, Chief Executive of
InterContinental Hotels, initiated a plan to revitalize the company through the leadership
and direction provided by 1.0 and Company. A massive overhaul of the global organization
began with senior management redefining and aligning itself with a new strategy and
integrated top-line structure. Business units within the organization redesigned all of
their major functions in alliance with the new strategy while taking great measures to
reduce or eliminate costs that did not support the new strategy. Training was provided for
all employees on planning, implementing, and building on change.
The result of the restructuring directed by 1.0 is a strategically refocused company that
has survived and is now thriving. The company successfully defeated a de-merger and hostile
takeover, employee's roles, responsibilities are better defined, and decision-making
processes are now streamlined rather than being ambiguous. Company culture has changed
and is now energized by significant improvements in the work environment and newly inspired
leaders. The company has improved its financial situation as costs are down by thirty
percent while the stock price has nearly doubled. Shareholders and analysts are now bullish
on InterContintental Hotels Group.
About 1point0 and Company
1.0 Consulting, a subsidiary of BayHill Group, helps clients develop innovative growth
strategies to meet aggressive financial objectives. The firm offers an integrated set of
capabilities to address business strategy, financial strategy, and organizational design.
1.0 consultants work together with client teams to understand key factors that drive their
business and market, identify and select the most promising growth strategies, optimize the
organization's structure to support the strategy, and turn those strategies into measurable,
financial results. 1.0 & Company is located in Provo, Utah.
About BayHill Group
BayHill Group works with undervalued public companies to reposition them for rapid growth
and financial success. The company partners with management and equity holders to bring
together the right financial resources, technologies, acquisitions, and management
capabilities to increase equity value. BayHill's clients range from Fortune 500 companies
to microcap ventures and include organizations such as InterContinental Hotels, SCO, General
Mills, Yellow Transportation, Sabre, America West Airlines, and NextPage.
Press Contact:
Tim Kapp
BayHill Group
(801) 437-9679
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