PILOTpartners is the only UK interim management provider with a ring-fenced, individually vetted, specialist Panel of about 600 independent executives with demonstrable professional, functional and operational expertise in turnarounds, business transformation and restructuring situations. Some of these are CRO’s.

But first of all – what is a CRO (Chief Restructuring Officer)?

We have seen many interpretations and have tried to get it right ourselves but believe that we can do no better than commend the opening chapter in the May 2011 ICAEW publication Best Practice Guideline: Turnarounds by David Bryan and Alan Tilley of Bryan, Mansell & Tilley LLP and Stephen Cork and Katie Moffitt with Cork Gully LLP. Download the pdf here ».

To access the complete publication please visit www.bmandt.eu and the section on news and press where you can request a copy of the publication though the ICAEW website.

The PILOTpartners CRO & Turnaround Panel is divided into two core groups:
I – Turnaround Leaders
Chief Restructuring Officers operating in the UK and internationally – about 100 executives.
II – Functional Specialists
Chief Executives, Chief Financial Officers and Chief Operating Officers with extensive experience of ‘heavy lifting’ and running operational turnarounds in the UK and internationally – about 350 executives.

This group also includes other executives with experience of managing critical parts of turnaround projects in e.g. supply chain/logistics, human resources, production transfer, property, refocusing marketing, systems recovery etc. – about 150 executives.

Interim turnaround executives are normally available on a full time albeit temporary basis. In many cases, especially when the issues are not immediately life threatening, an interim executive can operate on a part time basis such as Chairman or in a specific advisory, observer or mentoring/support role.

PILOTpartners also supports stakeholders requiring an experienced, independent pair of eyes “to have a quick look at a business” where, for example, underperformance or working capital issues are worsening and/or as a condition of further lending or other financial support.

Many of our most challenging assignments are ‘Quick Fixes’ where seemingly intractable problems can be resolved readily by an experienced CRO or interim turnaround director by, for example, producing bombproof cash flows and forecasts, sorting out onerous leases, managing cost reduction projects or releasing cash through improving working capital.

Uniquely, PILOTpartners also manages interim executive turnaround panels on behalf of the restructuring departments of major accounting firms.

Contact James Wheeler
T: +44 (0)780 859 0176
E: j.wheeler@pilotpartners.eu