CIC embarks on 2020 re-strategising, retains MTI

Wednesday, 24 May 2017 00:08 - - {{hitsCtrl.values.hits}}

Dedicates 2017/18 for business rationalisation and strategic re-alignment

The diversified conglomerate CIC Holdings has embarked on a major strategic change initiative titled ‘2020 Re-strategising’, which will see the group undertaking an intensive business rationalisation exercise, followed by strategic and organisational re-alignment. MTI Consulting has been retained for this 12-month assignment – covering CIC Holdings, CIC Agri and Chemanex.“In 2013/14 we undertook the first phase of our re-strategising exercise, post which the Group had three successive years of healthy growth. We now embark on the final phase of this strategic change initiative aimed at ensuring a future proof business to meet both the challenges and opportunities in the multiple domains we operate in. This year (2017/18) we plan to go through an intense round of business and organisational rationalisation, so that we are ready for a more profitable 2018/19, with a highly focused business portfolio and a much leaner and agile organisation. In order to facilitate this process, in 2017/18 we need to take a step-back, rationalise and re-focus – with the strategic intent of a much stronger business model and operating performance in 2018/19,” stated Group Managing Director/CEO Samantha Ranatunga, who is spearheading this initiative.Led by their International CEO Hilmy Cader, MTI has assigned a multi-disciplinary team of international and local consultants, analysts and project managers for this CIC assignment.

Commenting on this assignment, Cader said: “Astute organisations recognise the need to challenge and critique its own performance even when the going is good, so as to further strengthen its strategic and operational agility. CIC is well positioned in its three main operating domains i.e. agri, healthcare and industrial solutions. This exercise, while making some conscious rationalisation in 2017/18, will strengthen the business fundamentals and gear up for high growth in 2018/19 and beyond.”

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