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  • March 2022 (Revised October 2022)
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Transforming Kimball International, Inc. (A)

By: Lynn S. Paine and Will Hurwitz
  • Format:Print
  • | Language:English
  • | Pages:33
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Abstract

Kimball International, Inc. (KII), led by CEO Kristie Juster, and its board of directors, chaired by Kim Ryan, faced critical questions about KII’s future in the spring of 2021. Two years earlier, the board had appointed Juster as the new CEO of KII, a publicly traded, small cap maker of commercial office furniture based in Jasper, Indiana. Juster had set in motion a major organizational transformation aimed at putting KII on a higher-growth trajectory. Under her leadership, the company had examined its purpose, adopted a new strategy, revised its compensation plan, and undergone a major restructuring. And then, COVID-19 hit. The company adapted quickly, but the pandemic had a significant impact on KII’s profitability and stock price, and on executive pay which was significantly tied to both. As the pandemic dragged on, the board had to decide how to design an executive compensation plan that would be fair to employees, fair to shareholders, and meaningful to executives in a highly competitive labor market, while also aligning with KII’s purpose and strategy, and driving its ongoing transformation.

Keywords

Board Of Directors; Board Committees; Board Decisions; Board Dynamics; CEO Compensation; CEO Succession; Compensation Committee; Compensation Consultants; Compensation Design; Compensation Mix; Corporate Purpose; COVID-19; ESG; Furniture; Furniture Industry; Manufacturing; Midwest; Pandemic; Purpose; Spin Off; Strategic Change; Strategic Decisions; Strategic Evolution; Target-setting; Executive Compensation; Family Ownership; Governance; Restructuring; Strategy; Transformation; Manufacturing Industry; United States

Citation

Paine, Lynn S., and Will Hurwitz. "Transforming Kimball International, Inc. (A)." Harvard Business School Case 322-083, March 2022. (Revised October 2022.)
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About The Author

Lynn S. Paine

General Management
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Related Work

    • March 2022
    • Faculty Research

    Transforming Kimball International, Inc. (B)

    By: Lynn S. Paine and Will Hurwitz
    • March 2022 (Revised October 2022)
    • Faculty Research

    Transforming Kimball International, Inc. (A)

    By: Lynn S. Paine and Will Hurwitz
Related Work
  • Transforming Kimball International, Inc. (B) By: Lynn S. Paine and Will Hurwitz
  • Transforming Kimball International, Inc. (A) By: Lynn S. Paine and Will Hurwitz
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