Dunlap's first day on the job was April 19,1994. At a meeting attended by 1,600 people at the company's Philadelphia headquarters that afternoon, Dunlap placed blame for the company's poor condition on Scott management's underperformance and a massive failure of leadership. Dunlap further announced that over the coming months he would be cutting thousands of jobs and selling billions of dollars of assets. Dunlap believed that Scott was a potentially sound paper products company (even though it had not had a decent marketing program for its consumer products for 10 years). But he saw Scott currently as a poorly managed commodity paper company lumbering behind competitors and saddled with ancillary health care, food-service, electricity generation, and coated-paper businesses. He indicated that the major downsizing and restructuring would be over-by December 31 and that the company would then get on with building its core business in toilet/facial tissue and paper towels. By July 1994, a detailed restructuring plan was put together with the aid of a consulting team from Coopers & Lybrand, led by partner C. Don Burnett, who had worked with Dunlap on other turnaround projects. By December 31, the principal initiatives to reshape the company were completed as Dunlap had promised back in July. The primary elements of Dunlap's turnaround strategy for Scott Paper are shown in Exhibit 4.