If you do not have a suitably qualified individual leading a work stream then you face (i) missed deadlines that could derail the project or have a knock on impact on other work streams (ii) a person who is not authorised to make decisions attending meetings where a decision may be needed in real time (iii) lead to conflict of interest in the transaction as parties may overreach (iv) miss critical components needed under the SPA- such as ensuring continuity of benefits ( HR), a failure to re brand ( comms), a failure to file statutory documents on time ( legal) which could have financial implications.