個案總覽

In 2003, International Paper (IP) came under the leadership of new Chief Executive Officer John Faraci, a paper industry veteran who has spent his career in IP, across multiple functions and titles. The company had grown, organically and via acquisition, to be an international producer of kraft paper, coated paper and packaging, but hit a road block as growth had stagnated industry-wide. Faraci immediately launched a transformational campaign to turn the business around, even amid activist investors and other pressures.

In May 2021, Discovery, Inc. announced the acquisition of WarnerMedia from AT&T, with David Zaslav to become the Chief Executive Officer of the new consolidated media giant, which would be called Warner Bros. Discovery. Now, the company and new leadership face the simultaneous issues of immediate debt servicing concerns as well as longer-term trends leading to the decline of demand for cable television. With the consolidation, there was also organizational restructuring, which included a steep reduction in headcount as well as brutal, decisive cuts of less profitable business lines.