A Crisis Is a Terrible Thing to Waste … Even Chapter 11
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Imagine you’re a chief marketing officer and your company is about to file for Chapter 11 bankruptcy. Not an enviable position to be in, right? On the surface, maybe not. But if you approach it like Morag Lucey and her executive colleagues at Avaya, what could be an organization’s death knell simply becomes a bump on the road to a brand transformation.
The privately held communications hardware (and now software) company filed for bankruptcy in January of this year, not because the business was failing, but because Avaya’s debt load was simply too large to carry.
“Last year, we brought more innovation to market than we had ever done in the life of Avaya, and it was all software, application development and microservices,” says Lucey, who came to the company from BAE Systems, Convergys and SAP, and recently won a prestigious Officers Award from The CMO Club. “The business model was robust, the innovation was robust — the only issue was the debt.”
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