Pick a ‘captain’ to steer you through uncharted waters
Ensure mergers run smoothly by appointing someone to oversee the transition, says one such adviser
“Who will be your merger captain?” That is the question I was asked by the head of mergers and acquisitions of a major bank when we met to talk through what colleges could learn from commercial mergers. As it turned out, the captain for the merger of Hackney Community College would be me.
In January 2015, the governors agreed that it was unlikely that we could continue to remain financially healthy and deliver our mission as an independent college. They asked me, as principal, to undertake a review of strategic options.
In the subsequent 12 months, we examined a wide range of possibilities ...