Its been a big week for company upheaval, with news of Network Tens collapse into voluntary administration garnering widespread attention, and experts say theres only one way to steer your team through such change: be human.
On Wednesday, Network Ten confirmed administrators at KordaMentha would be taking control of the troubled TV channel after a series of challenges, including a decision by shareholders Bruce Gordon and Lachlan Murdoch to extend their guarantees for the companys $200 million loan facility with the Commonwealth Bank when it expires at the end of 2017.
Customers, employees and other stakeholders are assured that the administrators intend to keep the business running, KordaMentha said in a statement.