We will often take the role of CRO, becoming part of the executive team to plan and execute the restructuring process. This eases the burden on management, leaving them to concentrate on running the business.
The exact role of the CRO is determined in response to the needs of each project. Generally, however, the CRO:
- works closely with the CEO, CFO and other Directors, often on a full-time basis
- initiates, coordinates and implements restructuring actions, often establishing a Restructuring Group involving key management
- takes responsibility for developing the restructuring plan
- takes a lead in negotiations with lenders, trade credit insurers, shareholders and other stakeholders
- coordinates legal and other advisers involved in the restructuring process
We have recently acted as CRO to:
- a French automotive supplier
- a worldwide enamels manufacturer
- the Hungarian manufacturing operations of a major US bus assembly business
- a UK/US textiles business
For further details, please contact Adrian Doble on + 44 (0)207 467 4277.