"Transparency and immediate action are essential in the crisis."
My Expertise as CRO in Turnaround Situations
Support in turnaround situations, restructuring, crises, bankruptcies
The more complex a restructuring is, the greater the burden on the existing management. The management must have sufficient capacities on the one hand and extensive experience in crisis management on the other. As a restructuring and reorganization consultant (IfUS), I use my experience and methodological skills to solve individual challenges in reorganization in an implementation-oriented manner. Gladly for you too.
-
Corporate management in a crisis as a CRO
-
Implementation management of remedial measures
- Strategic realignments
- Optimizing your portfolio
- cost reduction
- process optimization
- liquidity improvements
- downsizing -
Participation in the creation of renovation concepts, such as
Independent Business Review (IBR), restructuring concepts according to IDW S6 -
Creation of numerical transparency in accounting & controlling
-
Creation of integrated planning calculations
-
Support of M&A and due diligence
- Analysis of process flows, restructuring of performance-related processes and balance sheet capital structures
As Chief Restructuring Officer (short: CRO) I accompany companies in difficult situations on a temporary basis and keep the back of the existing management free for day-to-day business, mostly in advanced crisis situations, ie in a success and / or liquidity crisis. Without the implementation of far-reaching and often structure-changing measures, such companies will usually not be able to secure their continued existence. In addition, the measures often have to be carried out in very short periods of time and a lot of internal and external resistance has to be overcome.
Absolute integrity, negotiating skills and the ability to balance different interests are indispensable for this difficult task in addition to crisis experience and financial expertise. Communication is particularly important because all stakeholders - such as employees, unions, financiers, banks, trade credit insurers, shareholders, consultants - have to feel that they have been met. In these special situations, I am available to the stakeholders to increase the credibility and objectivity of the entire turnaround process, to drive restructuring and to create stability.
Free white paper about the tasks of a CRO and the typical course of a mandate.
Manage Turnaround Situations
Restructuring advice - interim management in turnaround and crisis
Crisis scenarios can occur quickly and do not have to be self-made - an investor breaks down, the general economic climate of an industry darkens, loss of a major customer and much more are factors that are sometimes difficult to influence.
​
An interim manager in turnaround as a restructuring consultant first aims at eliminating possible reasons for insolvency (ie ensuring the solvency of the company (program for securing liquidity) and at covering debt, in accordance with the urgency. In a second step, the measures aim at Reaching the profit zone through efficiency enhancement and cost reduction programs and finally on the strategic (re) orientation of the company with the aim of getting out of the crisis stronger.
​
In order to carry out an out-of-court restructuring, the solvency must be maintained! Reliable liquidity planning is therefore extremely important .
​
Learn more about my specialist skills as a crisis-experienced CFO / CRO and certified restructuring and restructuring consultant in turnaround situations.
Advantages of early Crisis Management
Competence, speed and consistency count in the crisis
Companies in the liquidity crisis mostly welcome external support. Many decision-makers appreciate that external consultants specialize in crisis situations, their impartiality and objectivity, as well as their independence due to the lack of involvement with business partners.
The following characteristics can often be found in crisis situations:
Speed matters
Hard cuts and structural changes required
Competencies or the will to implement necessary measures are lacking
In addition to the daily business, the implementation phase cannot be mastered
Shareholders use external, additional managers
Trust relationships with shareholders or banks are compromised
The causes of the crisis lie in the past
The Institute of Chartered Accountants ( IDW ) mentions in its standard 'Requirements for the preparation of renovation concepts' (IDW S 6) the following reasons for the need for renovation, which usually also occur in this chronological order (although not all stages have to occur in every renovation case).
