When Michael Polk left Newell Brands in 2019, he had options. His tenure had been widely regarded as a success, having expanded the company’s enterprise value from $5 billion to more than $15 billion. Any number of large, publicly traded companies would have welcomed his experience. He chose a different path.

The Appeal of Implus

Polk joined Implus LLC, a Berkshire Partners-owned fitness accessories business, as CEO in 2020. The company was considerably smaller than what he had managed before, with a 16-brand portfolio and a more concentrated organizational structure. The timing was also challenging: Polk stepped into the role just as the COVID-19 pandemic began disrupting supply chains, retail, and consumer behavior globally.

Despite that, Michael Polk saw Implus as an opportunity to lead in a more integrated, direct way than public company management typically allows. The absence of quarterly earnings pressure, external shareholders, and the dense management hierarchies common at large corporations gave him room to operate differently.

Private Ownership Changes How Leaders Work

At public companies, Michael Polk Newell Brands notes, senior executives often become specialists in one thing: allocating resources and influencing decisions through organizational layers. At Implus, the structure demanded more. He worked alongside his team directly, engaging in brand development and business strategy in ways that his previous roles didn’t permit.

“I spend much more time doing the brand and business development work directly with my team,” Michael Polk says, contrasting his Implus role with his tenure at Newell Brands. The flat structure also meant broader exposure for everyone in the organization. Employees who might have spent careers inside narrow functional lanes at large companies instead gained working knowledge of retailer partnerships, manufacturing, and sourcing. That breadth, Polk argues, makes private companies more nimble and their people more capable. Read this article for more information.

Additional information about Michael Polk can be found on https://www.youngupstarts.com/2024/11/22/implus-ceo-michael-polk-explains-why-leaders-thrive-in-privately-owned-businesses/