What We Do
John often fulfils the role of Turnaround Director. Turnaround Directors (TDs) are experienced managers who are used to dealing with companies facing financial difficulties. They will often have worked in many different industries. They are adept at
Identifying Key Issues
A Turnaround Director will rapidly assess the situation and focus on the critical issues facing the organisation. The TD brings a wealth of experience and will have a different perspective from those within the organisation.
Working With The Board And
A Turnaround Director will ensure that the strengths of the management team are fully utilised. The management team will normally have many years of experience of the industry and the turnaround professional will want to make good use of that experience.
The Turnaround Director will make recommendations to improve the business. Some will be minor and others may be more fundamental.
Having agreed what changes are needed it is vital the changes are implemented effectively.
Improving the cash position of the organisation is usually vital. This might be achieved by reducing stock levels, ensuring debtors pay to terms, negotiating with suppliers, agreeing a Time to Pay arrangement with HMRC, selling unutilised assets or finding new forms of finance.
The Turnaround Director will have experience of managing key stakeholder requirements in turnaround situations.
Turnaround Directors are a very cost effective way of filling a short term need, there is no long term commitment and the contract can usually be terminated without notice.
Initial Meeting – No Fee
An initial meeting with Interim Executive typically takes 1-2 hours and will include discussions about the current situation, the problems being faced and initial views of the options possible.