Four executives honored by Best Practice Institute for key roles in Novelis turnaround
Best Practice Institute has honored four senior leaders at Novelis, Atlanta, for the pivotal roles they have played in the turnaround of the aluminum products manufacturer and recycler.
The 2014 BPI C-Suite Award is presented to Steve Fisher, senior vice president and CFO, and Nick Madden, senior vice president and chief supply chain officer. The 2014 BPI Engineering Bench Strength Award is presented to Joanne McInnerney, vice president of global talent management, and Marilen Endicott, senior manager of global talent management and organizational effectiveness.
After being spun off by aluminum producer Alcan in 2005, Novelis faced daunting organizational, market, and financial challenges that threatened its survival. But the 2007 acquisition by a strategic investor, the Aditya Birla Group, and the 2009 arrival of a new CEO, Phil Martens, set the company on a new path to transform into one with world-class status.
Martens initiated aggressive cost-cutting, optimization of the company's global footprint, and a commitment to improvement in four global functions: finance, procurement, human resources, and information technology. Fisher, Madden, McInnerney, and Endicott played key roles in the turnaround.
BPI's annual awards honor executives, practitioners, and innovators who have made a significant contribution to leadership and management of their organizations.