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Michael Dan
CEO of Brinks
The Coaching CEO
Company Profile
Industry: Security
Services
Employees: 50,000
Revenues: $3BB
Market Cap: $1B$
42 www.ceoqmagazine.com | Q4 / 2010
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Michael Dan
Brink’s
CEO Achievements
Dan turned around of 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 since 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, zerotolerance
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”.
CEO Bio
Michael 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 Leadership
“Dan’s leadership style is incredibly open
and always transparent. He’s a fantastic
teacher and very engaged at all levels of
the organization.” - Frank Lennon - VP &
Chief Administration Office
CEO Insights
In today’s world, rather than tell board
members the answers, you have to involve
them in the problem, get their input, and
evolve issues so you end up with a strong
consensus on the board. Although you
won’t always get everyone aligned on
every issue, a strong consensus helps
leverage the board’s value and ensure
you are getting their wisdom and insight
as you run a very complicated global
business
For a CEO, nothing is more valuable than
time, and it’s important to understand
your priorities so you can know how best
to schedule your time and focus on the
right things. You have to understand what
you can and can’t do with your time
I’ve learned that teams win. If you
understand where you are, where you
have to go and can get the organization
lined up in support of the direction, the
organization (the team)is unstoppable
I am direct; I am hands-on. I cannot get
enough information. I read company
reports from every country, every
sales person...Information gives me
perspective. When I visit the field, armed
with information, I can make sure that
what I’m hearing and seeing supports
what I’ve been reading. It allows me to
give our managers new perspective and
valuable insight to help them deal with
personnel issues, operational problems,
or other challenges
At this point in my career, I’m almost
like a professor, trying to transfer all my
knowledge to the senior managers of this
company
About Brink’s Inc
The Brink’s Company is a leading global security
services company listed on NYSE with more than $3
billion in revenues, 50,000 employees worldwide,
and operations in more than 50 countries. The Brink’s
company provides 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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