Hasbro Inc. (NYSE) EVP, President of Global Marketing
Strategic Leadership and Business Transition
Following a year-long distraction in a failed unfriendly acquisition attempt on this major global entertainment, this major toy and game NYSE company was under considerable pressure from investors to rapidly refocus on growth and enhanced profitability.
Recruited initially as a transformation consultant to the CEO and Board of Directors, Klein was soon appointed as executive leader of the strategic transformation effort and was accountable for driving a turn-around strategy. He was responsible for a $3.5 billion P&L.
The initial part of the transformation was on refocusing the strategy around brand leadership and product development to embrace the then emerging digital and radically changing media realities.
In addition to rejuvenating, enhancing and leveraging the classic company owned brands such as Transformers, Monopoly, Tonka, GI Joe and Play School, in 1997 the company launched the digital transition of the Milton Bradley and Parker Brothers games inventory into digital interactive experiences despite the still early days of internet infrastructure.
Within two years, Hasbro turned substantial profitability improvements and share price growth of over 125%.
Ask Jeeves Inc., (NASD) President and COO
Strategic Leadership and Digital Business Transition
This early stage natural language search engine had lost it’s strategic way as it struggled to adequately monetize the initial B-2-C highly branded business. It had consequently been drawn into the fundamentally different B-2-B market where it had neither the technology nor business skills to compete effectively.
Klein was recruited to lead the transition of this company following the share price collapse from a post IPO high valuation to just above the cash value, and then the burst of the internet ‘bubble’ in 2000.
This involved focusing on both reasserting the consumer focused search value while cutting the costs of the B-2-B acquisition and selling off that business unit. At that stage the focus was on repackaging and preparing the business and innovation of the remaining core consumer branded business for sale – ultimately to IAC.
Booz Allen: Lead Partner, Media Practice
Digital Transformation Consultant
With the experience of leading strategic transformations of the Hasbro Toy & Game Co., and natural language search engine Ask Jeeves during the Silicon Valley bust cycle, was recruited to assist stabilize and grow the Booz Allen media practice out of their New York offices immediately post the 9/11 tragedy.
Job #1 was selling new work resulting in the development of a 5-year strategic plan for Chairman/CEO of Viacom/MTV Networks, Tom Freston. The almost year-long engagement understood both the strategic and organizational implications for MTV from the increasingly threatening impact of internet based alternatives and the emergence of digital social communities.
Following the completion of the program, Klein was appointed by Freston as his executive advisor on strategy and transformation implementation.
Sizmek (NASD) Director
Strategic Leadership
Assisted CEO in transitioning this Ad Tech company from inception through to sale.
Viacom/MTV Networks: Executive Strategic Advisor to Chairman/CEO
Digital and Organizational Implementation Consultant
While Lead Partner for Booz Allen consultants driving an almost year-long consultancy to develop a 5 year strategy for MTVN facing the impact of early adoption digital transition for their youthful audiences, Klein was appointed by Freston as his in-house executive advisor on the implementation of the strategy and transformation process.
MTV was the iconic video based music-tv production and distribution business. Changes in consumer demand required the company to migrate away from these initial routes to lower cost reality tv programming while also grappling with the rapid transformation to digital/online platforms as the emerging predominant youth-culture.
MTV was not well prepared for the magnitude of change required strategically, organizationally and especially culturally. Executing the required transformation working with the entire leadership team across the company top build achievable and executable programs, changed leadership skills and accountabilities as well as appropriate new incentives.
EMI Music Group: Group Executive Vice President for Strategy and Business Development
Digital Transformation
Like all of the four major international music companies EMI initially resisted digital downloading of individual music tracks which was driving the disaggregation of the historically very successful 12 track CD format. The industry response had been to stonewall the demand and to sue both consumers and the digital leader in the space, Napster.
The ultimate failure of this strategy became rapidly apparent as Napster gained users and Apple’s iPod became the logical consumer alternatives. Yet EMI, and the others, were woefully unprepared
In addition to overall strategy leadership, my unique role at EMI was to drive the development and adoption of a digital product as well as to prepare the organization for marketing, selling and delivering a top fan experience while treating the artists well at the same time.
Over 2 years we dramatically grew revenues from digital products then transferred digital P&L to the regional sales divisions. Developed a new squad of young marketers in online advertising, and assisted artists in the transformations they needed to make towards live events as their now primary sources of revenue away from CD and single sales. Streaming was still nascent.
EMI was then acquired by British entrepreneur Guy Hands.
Boston Consulting Group (BCG) Consultant
Strategy Leadership
During summer between 1st and 2nd year of MBA then upon graduation – learning the trade of strategy consulting.
Team member on two major assignments of note:
Developing a strategic response for historically leading brand in the consumer travel luggage industry being chipped away by plethora of luxury brands and products at the high end, and low cost knock-offs for mass retailers in the middle and low end markets.
Sweden: A national competitive study regarding retaining international competitiveness in innovation/quality/price and boosting exports for the country – co-sponsored by the central government, national industry association and national trade union federation. This year-long ground-breaking study was transformative for private/public sector cooperation as it applied the principles required for private sector company competitiveness into public policy and national spending priorities.
The project sought to learn from and improve on Sweden’s great exporter successes (Alfa-Laval/AGA, Ericsson, Volvo, ASEA among others) and the extensive national industrial policy initiatives from many mid-sized countries such as Ireland, Israel and S. Korea among the most active.
eMusic.com Inc., President & CEO
Media Transformation
eMedia had been the first successful subscription download-to-own music service – targeting knowledgeable and passionate music fans looking for guidance on new music that fit their genre preferences outside of mainstream pop.
As streaming became the emerging format this company of 1+ million subscribers needed to make the transition from ‘subscription’ to ‘a-la-carte’ service, to EBITDA positive to ultimately to being acquired to become part of a scalable competitor.
Initially focused on leveraging 10+ years of untouched sophisticated music consumer data to develop leading ‘personalized discovery’ apps and curated services.
Concurrently led profitability enhancement and marketing efficiencies for the new competitive environment.
Ultimately packaged and sold the company.
South African Broadcasting Corp (SABC)., Executive Advisor to CEO
Media Transformation
Upon Mr. Mandela’s election as President of South Africa in 1993, immediate strategic transformation was demanded of the national and exclusive national radio and TV broadcaster which had been perceived as the propaganda machine of the prior apartheid government.
Klein was brought in by the newly appointed CEO as a transformation consultant to leverage his experience in Change Management assisting to expedite the transition of this multi-billion dollar organization. The focus was on changing the content and formats of all programming so as to instill public confidence in the broadcaster from the majority of the population in the post apartheid era.
Among the earliest challenges was a complete shortage of trained ‘on-air’ TV news and Current Affairs broadcasters not associated with the prior political era. Identifying and recruiting former South African media personalities from around the world, while extensively training a new generation of aspirant broadcasters was a short term, if imperfect, necessity.
Meeting the new requirement for TV news broadcasts in the nation’s 14 languages at least weekly (daily for the major languages) placed additional production challenges and cost burdens upon the organization.
Inevitably, the most complex challenge was to transition the old apartheid era culture to one representative of the new national realities.
CMJ., President and CEO
Digital Business Transition
Raised new investment funds to revitalize the exciting brand experiences and extend the iconic annual live event in NY. Through use of mobile technology platforms and data gathering/analytics began this process.
Focused on regenerating the consumer experience and engagement to reflect substantially changed and digitally driven expectations surrounding live event and college campus consumers seeking exposure to emerging artists. The business model had failed some years earlier and the company was technically bankrupt.
Was unable to overcome the depletion of the company’s prior strengths.
US News & World Report – Consultant
Phase Two Digital Transformation
This venerable news and ratings & rankings brand had committed to complete digital transition a decade earlier and was now confronting the second wave of digital driven significant opportunity and inevitable challenges.
Columbia University, Graduate School of Journalism Adjunct Professor
Digital Business Transition
Each Friday, every fall, Adam teaches students the core curriculum course he co-developed, ‘The Business of Journalism’ – focused on the professional and business-model impacts of the digital economy on the multiple news media platforms.
The course recognizes that as many of the legacy of the journalism business are eroding and, while emerging ones show promise, few have yet achieved stability or profitability. The hunt for new, sustainable and profitable sources of revenue beyond advertising demands focus on readers’ behavioral data within and across print, digital and interactive platforms.
The case studies and lectures enable the students to understand the challenges, opportunities and vicissitudes of the journalism business for both their own career development while also enabling them to be partners and innovators in determining new ways to secure the future of journalism.
Regularly assessed by students to be among their ‘most significant’ faculty.
Harvard Business School – MBA, Doctorate (DBA) and Lecturer
Strategic and Transformation Leadership
MBA: Completed the required first year interdisciplinary courses and specialized in strategy and change leadership in elected course selection of the second year. Active in the international business extracurricular programs.
DBA (Doctorate of Business Administration):
Doctoral Thesis: “Managing Strategy Change in the Context of Significant Dislocation to the Business Environment and a Strong Stakeholder Presence.”
In the face of major business environment disruptions and industry dislocations some companies adapt and some fail – in the context of the deregulation of the US airline industry the research sought to discover who succeeded/failed and why.
The findings of this work identified differences between successes, which included a more ‘politically’ accommodating leadership and strategy models of negotiation and accommodation with the multiple constituencies to reach ‘attainable’ goals, in contrast to more rigid ‘administrative’ ‘command-and-control approaches which characterized the failures.
Lecturer:
Business, Government in the International Economy (BGIE)
First year course on the economic, political, social, and legal environment in which business operates and executives have to make decisions.
Managerial Policies and Practices (MPP)
Second Year MBA required capstone course focusing on strategy, change management and leadership roles of the General Manager.