Turnaround Restructuring
KPMG adds turnaround executives to its restructuring practice
Du : 01/03/2006
KPMG has appointed John Darlington and Chris Howell to head up a new turnaround executive team within its restructuring practice.
The concept of a turnaround executive - or chief restructuring officer - is commonplace in the US where an experienced professional will take an executive position within a struggling company and oversee the development and implementation of the restructuring plan. The key difference between this executive role and traditional restructuring advisory is that it is a hands-on role for the company helping to make sure that plans are actually implemented.
Mick McLoughlin, Head of Global Restructuring and Recovery at KPMG said: “Market attitudes to corporate recovery have changed significantly in recent years and increasingly there is a need for different solutions to company problems. We have vast experience of taking control of companies in a decision making capacity and working on turnaround strategies. The turnaround executive team is the next natural progression for us and I am confident that in Chris and John, we have invested in two leading experts in this field.”
John Darlington
John is an established Chief Executive Officer and chief restructuring officer with a background in the financial and commercial arenas. He is a recognised turnaround leader with significant experience of crisis management, business improvement and turnaround as well as acquisitions and disposals. As Restructuring Officer at MyTravel Group plc, John helped the company avoid insolvency, returned the business to profit and restored its value to over £1 billion. John is a Chartered Accountant (FCA) and a Fellow of the Society of Turnaround Professionals (STP).
Chris Howell
Chris Howell is an experienced Chairman and Chief Executive specialising in leading restructuring and operational turnarounds of under-performing companies, and developing growth and/or exit strategies. At First Leisure Corp plc, he restructured operations and financial commitments, achieved significant cost reductions and led the company to a successful sale.He was instrumental in turning around large losses at Red Letter Days plc, Tiles R Us and Universal Salvage plc. Chris is a Fellow and Director of the Society of Turnaround Professionals (STP).
Chris and John take up their new roles at KPMG from Wednesday 1 March 2006.
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The concept of a turnaround executive - or chief restructuring officer - is commonplace in the US where an experienced professional will take an executive position within a struggling company and oversee the development and implementation of the restructuring plan. The key difference between this executive role and traditional restructuring advisory is that it is a hands-on role for the company helping to make sure that plans are actually implemented.
Mick McLoughlin, Head of Global Restructuring and Recovery at KPMG said: “Market attitudes to corporate recovery have changed significantly in recent years and increasingly there is a need for different solutions to company problems. We have vast experience of taking control of companies in a decision making capacity and working on turnaround strategies. The turnaround executive team is the next natural progression for us and I am confident that in Chris and John, we have invested in two leading experts in this field.”
John Darlington
John is an established Chief Executive Officer and chief restructuring officer with a background in the financial and commercial arenas. He is a recognised turnaround leader with significant experience of crisis management, business improvement and turnaround as well as acquisitions and disposals. As Restructuring Officer at MyTravel Group plc, John helped the company avoid insolvency, returned the business to profit and restored its value to over £1 billion. John is a Chartered Accountant (FCA) and a Fellow of the Society of Turnaround Professionals (STP).
Chris Howell
Chris Howell is an experienced Chairman and Chief Executive specialising in leading restructuring and operational turnarounds of under-performing companies, and developing growth and/or exit strategies. At First Leisure Corp plc, he restructured operations and financial commitments, achieved significant cost reductions and led the company to a successful sale.He was instrumental in turning around large losses at Red Letter Days plc, Tiles R Us and Universal Salvage plc. Chris is a Fellow and Director of the Society of Turnaround Professionals (STP).
Chris and John take up their new roles at KPMG from Wednesday 1 March 2006.
Related Articles
[28/05/2009] PEI Asia, July/August 2009, Mapping the turnaround market
[14/03/2007] March 28-31 Dallas TMA Conference Updates Corporate Renewal Professionals on Best Practices
[01/03/2006] KPMG adds turnaround executives to its restructuring practice
[01/02/2006] Chief Restructuring Officers: The Lender’s Secret Weapon
[01/11/2005] Northern California Turnaround Pioneer Receives ACTP Lifetime Achievement Award
[01/11/2005] Tom Ridge and Cokie Roberts Speak at Turnaround Management Association's Chicago Convention, Oct. 20-21
[01/11/2005] Turnaround Professionals to Take on Gulf Coast Business Renewal Project