Lûcrum sets restructuring - Business Courier of Cincinnati:

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According to Business Couriefr research, revenue at downtown-based Lûcrum Inc. peaked in 2005 at $21 91 percent growth over 2004. At the the firm employed 95. But since revenue has declinedto $14.2 million and employment to 62 staffr members. Lûcrum was a finalisft in the Courier's ranking of the region's 55 fastest-growin g companies in 2005 and 2006. "We had back-to-back successfukl years, but 2005 and 2006 were hard to beat," said CEO John who also founded and runsDbaDirectt Inc. in Florence. "You have to go back in the valleyt to climbback up." the firm is stable, said who founded it in 1993. It has no debt and a strony balance sheet.
In December, he hired management consultan t Diane Egbers of to help him seta five-year strategic growtjh plan that includes restructuring the hierarchical company into a partner-basex model and identifying long-term leaders amongg his current staff. Bostick will become executive leaving behindhis day-to-day operational responsibilities and workingb at the strategic level. He'll still serve as CEO of Sources say the firm could have anuphill battle.
In the past six months, several top level employees have left the including presidentKarl Ulreich; both managing directorsz of business development, Matt Mountain and Randy Davis; anothedr business unit head, Robin Smith; and the firm' s marketing manager, Heidi Joos. Board membee Mahendra Vora resigned due to his February purchaseof Lûcrum competitor He stil retains an ownership stake in Sources also said the company has lost out on key projectsw with large companies in town such as the , , , and . To addresw these reports, Bostick said some projects haven't gone as well as they were supposed to.
He added that Lûcrum is actively completing projecta for all of those firmssexcept Omnicare. "We've had projects that didn't get home but others that are home runswith them," he Other longtime clients include , the , and . Despitre these challenges, Bostick said he believes 2008 will be a good year for It has won 10 new clientsa over the pasteight months, but Bostick did not name With the restructuring and strategic plan in the firm can grow more sustainably and at a fastefr rate, he said.