This paper describes a major Change Agent Programme conducted by Siemens Nixdorf (and later Siemens AG). This programme was part of a larger, sophisticated culture change initiative. Details of the programme are provided and the benefits accruing to the company are carefully assessed. It was found that impact should be considered at the levels of (a) the participant, (b) the business unit and (c) the corporation and that evaluation requires a longitudinal perspective. A number of lessons are extracted from the analysis – the requirement for serious senior management commitment, the creation of realistic programme expectations, providing a road map for post-programme implementation, and so on. Finally, recommendations are made for future work on this very important topic.