Change is a constant in business, and how an organization navigates it can make a significant difference in its standing in the market, both today and in the future. Transformation is necessary to keep companies relevant and competitive, but radical transformation is required more than ever in changing times.
Successful business transformation often hinges on strong leadership, and no one knows that better than Michael Polk, Newell Brands’ former CEO. Renowned for his transformative leadership at major companies like Kraft, Unilever, and Implus LLC, Polk knows what it takes to navigate change and achieve long-lasting results. In fact, former Newell Brands CEO Michael Polk boosted net sales to $9.4 billion (from $5.4 billion) upon his exit from the company in 2019.
His approach didn’t make him the most popular person in the room at times, but his results-focused blueprint has a proven track record of remarkable success. Michael Polk’s philosophy is clear: “If a business isn’t doing well, leaders have to intervene and create a new formula for performance, or the business will under-perform or sometimes fail,” he says. “In this context, you have to make the harder decisions that sometimes carry social costs for the organization and you as the leader.” His time at Newell Brands is a prime example of these principles in action.
Transformational Success for Michael Polk and Newell Brands
When Michael Polk joined Newell Rubbermaid (later rebranded as Newell Brands) as CEO in 2011, he was determined to overhaul its fragmented business portfolio. “We were trying to make the whole greater than the sum of the parts,” Polk explains. The business at the time was an eclectic mix of consumer, industrial, and commercial segments that lacked cohesive management. Polk spearheaded a strategic transformation that better integrated Newell’s portfolio and leveraged consumer-facing brands on a global scale.
During his tenure, Polk led 18 divestitures and 17 acquisitions, refocusing Newell Brands into a multinational consumer goods powerhouse. “We’re trying to build the infrastructure to be able to allow each of those individual brands to grow and develop while leveraging the scale of the company to bring the right resources to bear on those businesses,” he notes. The process was far from easy or fast, but it was necessary for former Newell Brands CEO Michael Polk to generate tangible results during his years in the hot seat.
Communicating for Transformation
Employees often feel that executives make decisions in ivory towers without team input. While this is true in some cases (and often for necessary reasons), Michael Polk errs on the side of being as transparent as possible. Employees won’t trust changes if they don’t understand them, and it’s leaders’ responsibility to get everyone on board. “You have to bring the organization with you. You have to give people the context for the choices you are making. You have to make sure the team is charging up the hill with you,” Polk says. “Leaders have to over-communicate to drive alignment and as much support as you can to enable change.”
In his current work with Implus LLC, Michael Polk holds monthly global town halls to share progress, ensuring everyone is engaged in the company’s journey. Polk also distributes graphics explaining turnaround efforts to all employees, so everyone is on the same page about executives’ priorities.
Building Long-Term Value at Implus
Currently, Michael Polk serves as CEO of Implus, a company spanning 16 brands in health, wellness, and fitness. Much like his approach at Newell Brands Michael Polk emphasizes building scalable infrastructure while empowering individual brands. “We’re trying to build the infrastructure to be able to allow each of those individual brands to grow and develop while leveraging the scale of the company to bring the right resources to bear on those businesses,” Polk explains.
Polk knows results don’t happen in a vacuum, and he certainly can’t make change alone. He works with Implus through Berkshire Partners, a Boston-based private equity firm that provides amazing resources to Implus and its team. “Their value proposition is that they look to create enduring value by building exceptional teams,” Polk explains. “They participate in the business as stewards, but they empower our team. Their philosophy is creating enduring value through us. From my perspective, that’s the perfect formula for a leader with the kind of experience I have.”
Navigating Resistance with Transparency
Transformation inevitably meets resistance, but Michael Polk’s leadership at Newell Brands taught him to navigate challenges through radical transparency. “You have to be really clear with what your intentions are,” he explains. “I think it helps when you have experience having done it in different contexts because you have credibility with the organization. But either way, you must earn followership in new environments.”
Former Newell Brands CEO Michael Polk’s career is a masterclass in business transformation. His strategic vision, commitment to communication, and focus on building long-term value shaped the success stories of numerous organizations. As he continues to lead Implus into its next chapter, Polk’s ability to guide change with clarity and conviction is a hallmark of his leadership.
