1) Leadership & Governance
Before setting up the leadership and governance structure, the objectives of the carve-out management office shall be set. Define the goals of the carve-out project itself in accordance with the M&A team that led the deal process. As a first step to set up a carve-out management office, you want to establish a governance structure with a clear reporting hierarchy and decision-making process. Start from the top and define the responsibilities of the carve-out management office lead with respect to the M&A department(s) and other organizational units, e.g. corporate development teams, in the company. Determine who will be responsible for making key decisions and how they will be made. Nominate a leader with demonstrated experience in managing complex projects, change management, and leadership in a fast-paced environment. In the next step, identify committees or teams that will be involved in the governance structure, such as a steering committee that help to guide the team, take critical decisions, and foster buy-in across stakeholder groups. Tip: Work with a RACI chart to gain full transparency about who is responsible for what.