Your Business Isn’t Broken. It’s Stuck in Survival Mode
Episode Highlights
Taking over as CEO is never easy. But imagine walking into a public company that’s been struggling in a tough global market for years. The backlog is massive, supply chains are a mess, and the team hasn’t seen a bonus in over a decade. Where do you even start?
In this episode of Heavy Hitters, host Jay Lucas sits down with Michael Coffey, former CEO of Manitex, board member, advisor, and author of the upcoming book Gale Force: Navigating Strategy, Culture, and Value Creation in Modern M&A.
Michael shares what it was like stepping into the CEO role at Manitex during a turbulent period marked by post COVID supply chain disruptions, an unhealthy backlog, and a business that had been operating in what he describes as “survival mode.” He explains how the acquisition of Rayburn Rentals fit into the company’s broader strategy and why he used the diligence process as a “long interview format” to understand the organization before fully stepping into leadership.
Throughout the conversation, Michael breaks down the leadership principles that guided the turnaround. He discusses why strategy is the one thing he centralizes as a CEO while execution must remain decentralized, how transparency builds trust across global teams, and why honoring a company’s past is essential before driving change.
Michael also shares insights from his upcoming book, outlining the three pillars behind his leadership philosophy: an unassailable strategy everyone understands, engaged employees led by strong managers, and reliable real time data that helps teams adapt and improve.
In an industry known for tight margins and tough conditions, Michael’s message is clear. Companies succeed because of their people. Curious how great leaders turn struggling companies into thriving ones? Listen to the episode and discover the strategies that made it happen.
Our Guest
Michael Coffey is a seasoned executive, advisor, and former CEO of Manitex International. Over the course of his career, he has led global industrial organizations through complex transformations, mergers, and operational turnarounds. Previously, he helped grow HE Parts from a startup into a global enterprise generating hundreds of millions in revenue. As CEO of Manitex, he drove significant operational improvements and revenue growth before the company’s acquisition by Tadano. Michael now advises companies across the heavy equipment and industrial sectors through his firm, Resurgence Advisory, helping leaders navigate strategy, culture, and value creation in mergers and acquisitions. He is also the author of the upcoming book Gale Force: Navigating Strategy, Culture, and Value Creation in Modern M&A.
