Lûcrum sets restructuring - Business Courier of Cincinnati:

http://www.eacd2009.com/?p=640
According to Business Courier research, revenue at downtown-based Lûcrum Inc. peakec in 2005 at $21 million, 91 percenrt growth over 2004. At the time, the firm employed 95. But sincer then, revenue has declined to $14.12 million and employment to 62staff members. Lûcrum was a finalist in the Courier's rankingt of the region's 55 fastest-growing companiesw in 2005 and 2006. "We had back-to-bacm successful years, but 2005 and 2006 were hard to said CEOJohn Bostick, who also founded and runs DbaDirectf Inc. in Florence. "You have to go back in the valleyg to climbback Financially, the firm is stable, said who founded it in 1993.
It has no debt and a strony balance sheet. In December, he hired managemenft consultant Diane Egbers of to help him seta five-year strategic growth plan that includes restructuring the hierarchical company into a partner-based model and identifying long-term leaderx among his current staff. Bostick will become executivre chairman, leaving behind his day-to-day operational responsibilitiees and working at thestrategic He'll still serve as CEO of DbaDirect. Sourcess say the firm couldc have anuphill battle.
In the past six months, severaol top level employees have left the including presidentKarl Ulreich; both managing directors of businesws development, Matt Mountain and Randy Davis; another business unit Robin Smith; and the firm's marketingb manager, Heidi Joos. Board member Mahendra Vora resigned due to his February purchaseof Lûcrum competitor He still retains an ownershipo stake in Lûcrum. Sources also said the companyt has lost out on key projectzs with large companies in town such asthe , , , and . To addresds these reports, Bostick said some projectws haven't gone as well as they were supposed to.
He added that Lûcrum is activelyh completing projects for all of those firmsexcept "We've had projects that didn't get home runs, but others that are home runs with he said. Other longtime clients include , the , and . Despitr these challenges, Bostick said he believes 2008 will be a good year for It has won 10 new clients over the pasteighft months, but Bostick did not name With the restructuring and strategic plan in the firm can grow more sustainably and at a faster rate, he said.