Leading Corporate Turnaround: How Leaders Fix Troubled Companies

Leadership is never more crucial than when corporate survival is at stake. But the days of the tough guys are over. The leaders who are driving today's sustainable turnarounds understand that the answers to a distressed company's problems lie almost always within the firm itself usually at middle manager level and below. The secret is cooperation.

Drawing on interviews with world leading, international company doctors and advisers, as well as on the authors' own experience, "Leading Corporate Turnarounds" explores seven key leadership and management skills required for successful turnaround, and shows why quickly gaining the buy-in and trust of all stakeholders is the key to ultimate success.

"This is an admirable guide to the increasingly specialized business of corporate turnaround; I wish I had it when I started at BT in 2001."
--Sir Christopher Bland, Chairman, BT Group

"Why wait for a crisis to hit before reading this book? There is so much good material here which can be used preventatively to stop your company going to the brink. If I had this book available when we faced our turnaround, I have no doubt that I would have moved faster to tackle the problems! This book is a must even for those seeking to stimulate change before the crisis begins."
--Patrick O'Sullivan, Group Finance Director, Zurich Financial Services

"This well researched analysis of the characteristics of leadership in turnarounds is a valuable and timely successor to Corporate Turnaround. It should be essential reading not only for those involved in company rescues but also for those who want to learn about crisis leadership without experiencing it themselves."
--Paul Thompson, Headof Lending Services, HSBC

Leadership is never more crucial than when corporate survival is at stake. But the days of the tough guys are over. The leaders who are driving today's sustainable turnarounds understand that the answers to a distressed company's problems lie almost always within the firm itself - usually at middle manager level and below. The secret is cooperation. Drawing on interviews with top company doctors and advisers, as well as on the authors' own experience, "Leading Corporate Turnarounds" explores seven key leadership and management skills required for successful turnaround, and shows why quickly gaining the buy-in and trust of all stakeholders is the key to ultimate success. Written by the founding directors of the Society of Turnaround Professionals (STP), with a proposed Foreword by the Society's Patron Sir John Harvey-Jones Considers the different drivers of turnaround, the alternatives to it, and the restructuring processes required to move beyond crisis stabilization to sustainable change Features international case studies from leading companies including BT, Virgin Express, Arthur Andersen, Parmalat, GE, Lee Cooper, New Look and IBM