CRO Rising
After the collapse of Lehman Brothers in 2008, Bryan Marsal started as Chief Restructuring Officer (CRO) to preserve value for the American investment bank that was in total disarray…….
15 January, 2013
After the collapse of Lehman Brothers in 2008, Bryan Marsal started as Chief Restructuring Officer (CRO) to preserve value for the American investment bank that was in total disarray. The CRO function fulfils a crucial role in preserving value for companies that are under-performing or in crisis. As the turnaround business further professionalises the CRO will gain prominence.
In past times when a company was confronted with difficulties a former CFO would be requested to come to assist but more and more a CRO comes to the rescue. This trend is strengthened by the current economic conditions in which there is an increasing need for specialist turnaround skills. In our Benelux practice we observe as well companies increasingly requesting for support of experienced advisers with operational know how in multiple industries.
