In this episode, we explore the corporate turnaround of Dialight PLC, known for its robust LED lighting products in industrial environments. After facing a decade of decline, new management identified complexity as a major issue, leading to a radical 83% reduction in core components. This transformation plan involved restructuring operations and rethinking sales incentives to focus on profitable products. Despite facing a 4% revenue decline, Dialight has improved its gross margin to over 35% and significantly reduced its net debt. The company is now targeting a 45% gross margin by FY 2027, demonstrating the importance of operational efficiency and simplifying product offerings for future growth.