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CEO Awards
Most Respect CEOs
In collaboration with the
International Institute of Management
Hall of Fame
CEO Profile
Michael Dan - CEO of Brinks
The Coaching CEO
Company Profile
Industry: Security Services
Employees: 50,000
Revenues: $3B
Market Cap: $1B
CEO Achievements
Michael Dan turned around The Brinks Company by
focusing the company business, divesting unprofitable
companies, fixing a faltering BAX business unit and
selling it for double the valuation from $600 Million to
$1.1 Billion
Dan executed a strategy to improve the company’s operations and
financial position following The Pittston Company’s failed attempt
to sell Brink’s in the 1980s. Dan’s plan succeeded so well that,
instead of selling Brink’s, The Pittston Company became Brink’s.
One of the most significant achievements was getting out of the
coal business. Under Dan’s leadership, the
transition brought Brink’s back to its roots and left the company in
a position to increase profits in the long term. Revenues at BAX
another business unit had been faltering the late 1990s. He made the
decision to turn the company around, then sell it for higher
valuation. In 2005, he sold BAX for $1.1 billion. Wall Street
valuation of BAX at that time was at about $600 million
In the 1990s, when charged with improving the lackluster
performance of Brink’s international affiliates, Dan instituted a
policy of purchasing controlling interests in international
affiliates whenever possible and dissolving or selling any joint
venture that refused to cooperate. This policy gave the company the
control it needed to ensure consistency of service and to transform
from an international organization into a truly global company.
In 1984, Dan decertified the Teamsters, a process that served as
a strategic turning point for the company by lowering wage costs and
making Brink’s a more competitive force in the industry.
How he won his employee respect?
-
Establishment and funding of a retiree health and benefits
plan to secure the future of retired employees from all Brink’s
legacy businesses.
-
Establishing a universal, zero-tolerance code of ethics
throughout Brink’s global operations.
-
Instilling throughout Brink’s a focus on safety and security
and, specifically, “bringing every employee home safely each
night”.
Key Challenges:
- Economic
return to growth in 2010.
Leadership Style
"Dan’s leadership style is incredibly open, always
transparent. He’s a fantastic teacher and very engaged at all levels
of the organization. -
Frank Lennon - VP & Chief Administration Office
CEO Bio
Michael T. Dan, 59, is Chairman, President and
CEO of The Brink's Company. Dan joined the company in 1982 as
Director of Automotive Design. Later, he became Regional Vice
President, Executive Vice President of North America, then President
and CEO of the Brink’s holding company with
responsibility for all security businesses. In 1998, Mr. Dan became
President and CEO of The Pittston Company, and
in 1999 he was elected Chairman, President and CEO. Before joining Brink’s, Incorporated Mr. Dan was President
of Armored Vehicle Builders, Inc. He attended Morton College and is
a graduate of the Advanced Management Program at Harvard University.
CEO Insights
To Learn more about Michael Dan's Executive Insights, please visit
CEO Q Interview
with Michael Dan
About Brink's
The Brink's is a leading global security services company listed
on NYSE with more than $3 Billion in revenues, 50,000
employees worldwide, and operations in over 50 countries. The
Brink's company provider of armored car transportation, ATM
servicing, currency and coin processing and other value-added
services to banks, retailers and other commercial and governmental
agencies around the world.
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