Financial Turnaround, the first 100 days:
The first 100 days of a turnaround can be a daunting experience for even the most seasoned management team or experienced investor. Tensions are high, uncertainty abounds, timelines are short and stakeholders want direction and results.
For 25 years, Alvarez & Marsal has set the standard for working with organizations to solve complex problems, boost operating performance and maximize value for stakeholders. They are heavily involved in the current financial crisis working with a number of distressed financial institutions including serving as the lead restructuring firmfor Lehman Brothers.
Drawing from their wealth of experience working with an impressive list of clients, two speakers from Alvarez & Marsal will address the major issues facing financial management when a company is in crisis.
Michael Simoncic will discuss Alvarez & Marsal's general approach to working with healthy as well as distressed companies on performance improvement.
Our featured speaker, Dean Swick, will focus on the specific challenges faced in the first 100 days of a turnaround situation. Dean will discuss the approaches and processes that have been helpful in stabilizing crisis situations, including how to address cash and liquidity challenges, manage creditor and investor requirements and create a platform to pursue viable turnaround options from the perspective of management and the investors in a troubled company.
About the Speakers
Michael Simoncic
Mike Simoncic, a Senior Director with Alvarez & Marsal Business Consulting, is located in St. Louis and specializes in corporate strategy and business transformation. Mr. Simoncic has over 15 years directly developing corporate strategies, designing and implementing new business models and managing significant cost reduction and revenue enhancement initiatives.
Mike's clients have included: SYSCO, Allstate, Brown Shoe, Charter Communications, CSK Automotive, Heartland Automotive Services, General Motors, Crane Plastics, U.S. Navy, Bank One, Huntington Bank, and NASCAR.
Mike earned a Master's of Business Administration degree from the University of Michigan. His master's degree focused on Corporate Strategy and Marketing. Mike also earned his Bachelor's degree from Michigan. Mike currently serves as an Adjunct Professor at Washington University's Olin School of Business, teaching Organizational Design and Change Management in the MBA program.
Dean Swick
Dean Swick, a Managing Director with Alvarez & Marsal, specializes in advising distressed companies and creditors based in North and South America in out-of-court and in-court business turnarounds and restructurings. Based in Houston, Dean also assists clients in arranging capital and accomplishing the sale of businesses or assets in the course of a turnaround or restructuring.Some of Mr. Swick's clients have been Dresser, Inc., Heartland Automotive, Asarco, Physicians Corporation of America, Grupo Moreno, Calzado Canada, Forcenergy, Coho Resources, Winns Stores, TransTexas Corporation, Concentrix, EqualNet, Sterling Chemicals, Kaiser Aluminum Corporation, Seminis, Grupo Mexico/Asarco and Atchison Casting.