Lûcrum sets restructuring - Business Courier of Cincinnati:

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According to Business Courie 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 millionj and employment to 62 staff Lûcrum was a finalist in the Courier'ss ranking of the region's 55 fastest-growing companies in 2005 and 2006. "Wes had back-to-back successful years, but 2005 and 2006 were hard to said CEOJohn Bostick, who also foundede and runs DbaDirect Inc. in Florence. "Yohu have to go back in the valley to climbback Financially, the firm is stable, said Bostick, who foundedf it in 1993. It has no debt and a strong balancee sheet.
In December, he hired management consultantg Diane Egbers of to help him seta five-year strategic growth plan that includes restructuring the hierarchicao company into a partner-based mode l and identifying long-term leaders amonbg his current staff. Bostick will become executivwe chairman, leaving behind his day-to-dauy operational responsibilities and working at thestrategic level. He'll still serve as CEO of DbaDirect. Sourcesx say the firm coul have anuphill battle.
In the past six several top level employees have left the including presidentKarl Ulreich; both managing directorws of business development, Matt Mountain and Rand Davis; another business unit head, Robin and the firm's marketing manager, Heidi Joos. Boarr member Mahendra Vora resigned due to his Februaruy purchaseof Lûcrum competitor He still retainds an ownership stake in Sources also said the company has lost out on key projectas with large companies in town such as the , , , and . To addresas these reports, Bostick said some projectse haven't gone as well as they were supposed to. He addefd that Lûcrum is actively completing projects for all of those firmsexcept Omnicare.
"We've had projects that didn'g get home runs, but others that are home runs with he said. Other longtime clients include , the , and . Despits these challenges, Bostick said he believes 2008 will be a good year for It has won 10 new clientsz over the pasteight months, but Bostick did not name With the restructuring and strategic plan in place, the firm can grow more sustainablty and at a faster rate, he