The document outlines the key elements of successful change management, emphasizing the need to engage stakeholders and overcome resistance to change. It highlights the importance of creating a sense of urgency, communicating a clear vision, and achieving quick wins to build momentum for change initiatives. Key takeaways encourage organizations to address the status quo, articulate the reasons for change, and design plans with quick successes in mind.

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Abraxas Group LLC
www.abraxasgp.com
Driving Change
August 2017
David Johnson
Interim Executive
Restructuring and Turnaround Advisor

2. “If you do not change direction, you may end up where
you are heading”
‒ LaoTzu
Abraxas Group LLC
www.abraxasgp.com
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3. The Challenge
• Any change management project, ranging from a performance
improvement initiative a to turnaround and restructuring situation, must
address the challenge of engaging stakeholders.
• Whether the change is being driven by a mid-level employee, a CEO, an
interim executive, or an outside consultant, the first challenge is winning
the war against the status quo.
Abraxas Group LLC
www.abraxasgp.com
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4. • The pull of the status quo is strong in
all companies.
• A compelling case must be made for
immediate change, and the benefits
that change will bring to the
organization.
Creating a Sense of Urgency
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www.abraxasgp.com
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5. • Too many change management
initiatives fail due to the lack of a
compelling vision.
• Once a change agent has
communicated the why, they must
focus on the where. Where will a
successful change initiative take the
company, and why is that a good
thing?
Communicating aVision
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www.abraxasgp.com
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6. QuickWins Build Momentum
• In a truly successful change
management initiative, execution
is not a single phase but a rolling
process.
• A change management plan should
be designed to deliver a series of
quick wins, which will bolster
morale and help build momentum
for the more slow-developing
aspects of the plan.
Abraxas Group LLC
www.abraxasgp.com
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7. Key Takeaways
1) Win the War Against the Status Quo.
2) Sense of Urgency. It is not enough that people believe change is
necessary, they must understand that change must begin now.
3) Where and Why. Communicating a vision is essential to success.
Stakeholders must understand where the company is heading, and why
that approach makes sense.
4) Quick Wins. Design an execution plan with some quick wins in mind.
Abraxas Group LLC
www.abraxasgp.com
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8. David Johnson
Abraxas Group LLC
www.abraxasgp.com
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Email: david@abraxasgp.com
Ph: 312-505-7238
Twitter: @TurnaroundDavid
David Johnson, founder and managing partner of Abraxas Group, has a 20-
year track record of driving organizational change. David has served as an
interim executive or financial advisor to dozens of middle market
companies in turnaround and restructuring situations.
Throughout his career, David has demonstrated a commitment to thought
leadership, with numerous speaking engagements and articles on the topics
of change management, performance improvement, restructuring,
turnaround, and value creation to his credit. David received his MBA from
the University of Chicago and completed his undergraduate studies at
Fairleigh Dickinson University.
Key Accomplishments
• Interim CFO, Private Equity Backed Company: >$70MM increase in equity value
in 12 months
• Interim COO, Nonprofit Organization: Oversaw program closures and revamp of
management team, revitalizing a 120 year-old organization
• CRO, Family Owned Company: Developed a restructuring and turnaround plan
resulting in a proforma $2.5MM YoY increase in EBITDA