How to move from a science-driven research and development shop to a profitable business was the challenge for the solar panel company, and the solution was a transformational CEO from a Fortune 50 company.
 
Innovation was the hallmark of success for the Troy, Michigan-based Energy Conversion Devices. World-changing ideas include ECD's unique thin-film, flexible solar laminates and next-generation battery technology.
 
ECD was brilliant at developing technology but was challenged by the need to develop the commercial skills necessary for a global, profitable business.
 
The leadership consulting process with ECD was evolutionary rather than revolutionary and took several years:
 
- We slowly changed the composition of the ECD board, bringing in solid CEOs and strong commercial business people.
 
- The board engaged us in 2007 to conduct an extensive, multi-level assessment of leadership and the organizational issues preventing the company from leveraging its innovation success.
 
- We developed a lead director position to champion the change process while working on the CEO succession.
 
- The right leadership competencies and management strategies were matched against new business goals.
 
With founders Stan Ovshinsky and his wife Iris working with CEO Robert Stempel (the former CEO and chairman of General Motors), a transition plan was developed which resulted in Fortune 50 Carrier CEO Mark Morelli taking over in 2007. Mark was the former CEO of Carrier Corporation. We have remained as a close advisor to Mark and the board to help build out the leadership needed for a global footprint.
 
Revenue for the twelve-month period following Morelli's ascent to the CEO role increased 110 percent over the previous period.
 
ABOUT ECD: Energy Conversion Devices is the leader in building integrated and commercial rooftop photovoltaics, one of the fastest-growing segments of the solar power industry. The company makes thin-film solar laminates that convert sunlight to energy using proprietary technology. ECD also pioneers other alternative technologies, including a new type of nonvolatile digital memory technology that is faster, cheaper and ideal for use in cellphones, digital cameras and computers.