Michael Kane Boral is a former CEO and executive with an almost unparalleled level of success in his field. Over the years, he has used his experience and success to stay on top of the field in ways that his competitors have not. One of his biggest skills is understanding mergers and acquisitions and how to use them to transform a business for the better. Here’s what he has to teach a new generation of executives.
How Michael Kane Boral Uses His Experience
During his nearly 50 years as an executive, Michael Kane Boral has helped transform many businesses and turn them into high-quality operations. He focuses specifically on the global building product and material industry, using his skills with mergers and acquisitions to transform economies. In this way, he has lead companies throughout North America, Latin America, Europe, and much more.
The key to this success is finding companies that pair well together in a merger and combining them using a variety of different tools. For example, he has pushed businesses like Boral into acquiring material manufacturing firms, using their expertise and skills to provide material and support for builders and other professionals throughout the industry. In this way, he has transformed many businesses.
Just as importantly, Michael Kane Boral knows it is important to find businesses that have similar operational models and cultures. It isn’t just enough to grab two businesses and hope that they work together effectively. That way lies madness, he states, as some companies have cultures that mesh well while others will be quite unable to connect and may cause struggles and difficulties that aren’t worth it.
Innovation is also key to this process, as new concepts can help mergers become more successful than they would have been otherwise. For instance, he launched the world’s first formaldehyde-free insulation in 1990 through Johns-Manville. This step was a significant one because it increased building safety and helped to transform the market in many unique ways.
And getting to this goal requires Michael Kane Boral to understand what inventions and changes were possible throughout the field and taking a risk on buying companies that others may have ignored. Acquisitions and mergers are always risky, he emphasizes, stating that it requires a skilled eye and a steady hand to find businesses that make sense together. Research is key, he emphasizes, or you may find yourself struggling to stay afloat.
The best way to achieve this goal, he says, is to build a team that is centered entirely on acquisitions and mergers, professionals who have been trained to handle these steps. Finding professionals like these may seem impossible, but he knows that many business schools have provided this type of training. As a result, it is a good idea to reach out to job recruiters to see if anybody meets your needs.