BILLION DOLLAR TURNAROUND: The 3M Spinoff that Became Imation by William T. Monahan Hardcover 248 pages 5.5" x 8.5" Direct from us: 1-23 copies, $23.95 each 24 or more, $14.37 each (40% off) ISBN: 1-892538-22-9

This Year's Most Important Business Book

"Bill Monahan's leadership, energy and passion pour out on the pages of Billion Dollar Turnaround as though he is speaking directly to the reader. At Mosaic we are applying his teachings everyday in our $5 billion spinout and merger."
     --F. W. Corrigan, President & CEO, The Mosaic Company

This true story of a fearless CEO, his management team, and a company deep in debt, and losing money has important lessons for anyone looking to make a business more competitive and profitable. In a lively and engaging way, William T. Monahan explains how he and his cohorts transformed seven depressed business units with $2.4 billion in sales that were spun off from 3M Company into a dynamic, top-performing business called Imation. He explains how a new corporate culture of performance was created and outlines techniques anyone can use to focus a business for success while determining which opportunities to pursue and which to pass up. In a highly-readable and easily-understood way, Monahan tells how he and his team took a company that was $450 million in debt and losing money all the way to one with more than $475 million in cash and no debt, while repurchasing almost $200 million of its stock. Today, Imation is not only making a handsome profit, it's the world leader in removable digital storage media, boasting twice the market share of its closest competitors, Fuji and Maxell. This book is essential reading for those in a life or death, turnaround situation and a must-read for any executive judged by the financial performance of the business under his or her direction.

Praise for BILLION DOLLAR TURNAROUND

"No spin . . . the author offers a practical guide that can help any executive improve his company's performance."
          Jim Rogers, President & CEO, Vision Business Products, Inc.

"Bill has done leaders a great service with his book. He shows how real focus, facing reality, decisive action and sustained commitment can turn around a company."
          Randall J. Hogan, Chairman and Chief Executive Officer, Pentair. Inc.

"Bill Monahan provides a clear and concise roadmap to guide not only a business turnaround, but more importantly how to guide one's own life. The clarity around people and honest communication is refreshing and clearly prioritized as the crucial differentiator between success and failure."
          Jay G. Baitler, Executive Vice President, Staples Inc.

"Bill has written in a conversational and highly readable fashion, a book full of keen management and leadership insights. True to his style, the book is a straight forward no-nonsense view of the Imation story. He captures and details many of the key learnings of the spinoff process, the start-up phase of the independent business and the critical steps leading to stability and success for Imation. The leadership 'lessons learned' alone are worth the read for any business leader in today's competitive environment!"
          Brian W. Sturgell President and Chief Executive Officer, Novelis Inc.

"Straight to the heart of real transformation. Real knowledge from real experience. Hardened lessons to serve as guideposts for any leader."
          Michael R. Webb, Chairman & CEO, The Knowledge Webb

"Bill Monahan recounts how he nurtured Imation, the 3M spinoff, from its tricky birth to maturity as a global leader in data storage. He credits colleagues who abetted the cause and outlines the management principles that powered change. A clear testimony to the rewards of both his strategy and execution."
          Darrell Rigby, Partner, Bain & Company

"A compelling read for any business leader running or contemplating running a business model with disparate parts. Bill Monahan is one of the most successful CEO's in the country in the category of IPO's spun from a large parent (3M). His ability to see and create value at Imation is a story that needs to be explored."
          Peter Crist, Chairman of Crist Associates

"Sensible pragmatic accounting of the travails of a leader and his team that turned a disjointed spin-off into a focused successful billion dollar company."
          Wayne Fortun, President and CEO, Hutchinson Technology Inc.

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BILLION DOLLAR TURNAROUND:
The 3M Spinoff that Became Imation

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