{"id":6369,"date":"2023-01-24T17:25:40","date_gmt":"2023-01-24T16:25:40","guid":{"rendered":"https:\/\/executive-interim-partners.de\/?p=6369"},"modified":"2025-09-26T12:32:35","modified_gmt":"2025-09-26T10:32:35","slug":"sustainable-restructuring","status":"publish","type":"post","link":"https:\/\/executive-interim-partners.de\/en\/publications\/sustainable-restructuring\/","title":{"rendered":"Sustainable restructuring &#8211; Executive Interim Partners"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-3f24g3l-1ce2badf87caf7afa26122b1251ee80c\">\n.avia-section.av-3f24g3l-1ce2badf87caf7afa26122b1251ee80c .av-parallax .av-parallax-inner{\nbackground-repeat:no-repeat;\nbackground-image:url(https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Nachhaltige_restrukturierung-header.webp);\nbackground-position:100% 100%;\nbackground-attachment:scroll;\n}\n<\/style>\n<div id='av_section_1'  class='avia-section 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href=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2025\/02\/sustainable-restructuring-2025-01.01.2025-update.pdf\" class='avia_image' target=\"_blank\" rel=\"noopener noreferrer\" aria-label='0001'><img decoding=\"async\" class='wp-image-7355 avia-img-lazy-loading-not-7355 avia_image ' src=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/0001-1-212x300.png\" alt=\"Sustainable restructuring - Executive Interim Partners\" title='0001'  height=\"300\" width=\"212\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/0001-1-212x300.png 212w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/0001-1-497x705.png 497w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/0001-1.png 521w\" sizes=\"(max-width: 212px) 100vw, 212px\" \/><\/a><\/div><\/div><\/div><\/p><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-36jyhz5-9b836de23b90f717b8c6642fb5dbd359\">\n.flex_column.av-36jyhz5-9b836de23b90f717b8c6642fb5dbd359{\nborder-radius:0px 0px 0px 0px;\npadding:50px 50px 50px 50px;\nbackground:url(https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Restrukturierung.png) 0% 0% no-repeat scroll ;\n}\n<\/style>\n<div  class='flex_column av-36jyhz5-9b836de23b90f717b8c6642fb5dbd359 av_three_fifth  avia-builder-el-8  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ldaful4k-55cc6c37a498eb573f7c5f684b0e675c\">\n#top .av-special-heading.av-ldaful4k-55cc6c37a498eb573f7c5f684b0e675c{\npadding-bottom:10px;\ncolor:#ffffff;\n}\nbody .av-special-heading.av-ldaful4k-55cc6c37a498eb573f7c5f684b0e675c .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-ldaful4k-55cc6c37a498eb573f7c5f684b0e675c .special-heading-inner-border{\nborder-color:#ffffff;\n}\n.av-special-heading.av-ldaful4k-55cc6c37a498eb573f7c5f684b0e675c .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-ldaful4k-55cc6c37a498eb573f7c5f684b0e675c av-special-heading-h1 custom-color-heading blockquote modern-quote modern-centered  avia-builder-el-9  el_before_av_textblock  avia-builder-el-first '><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >SUSTAINABLE RESTRUCTURING<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ldafv5le-8e6663dbe3b4281a1f637add137841d1\">\n#top .av_textblock_section.av-ldafv5le-8e6663dbe3b4281a1f637add137841d1 .avia_textblock{\ncolor:#ffffff;\n}\n<\/style>\n<section  class='av_textblock_section av-ldafv5le-8e6663dbe3b4281a1f637add137841d1 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock av_inherit_color'  itemprop=\"text\" ><p style=\"text-align: center;\">If the restructuring of your company should really be successful in the long term.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-35fsli9-b68df07df82808e01c8b9c841c5047bc\">\n.avia-image-container.av-35fsli9-b68df07df82808e01c8b9c841c5047bc img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-35fsli9-b68df07df82808e01c8b9c841c5047bc .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-35fsli9-b68df07df82808e01c8b9c841c5047bc av-styling- avia-align-center  avia-builder-el-11  el_after_av_textblock  el_before_av_image '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-6354 avia-img-lazy-loading-not-6354 avia_image ' src=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-300x152.png\" alt=\"Sustainable restructuring - Executive Interim Partners\" title='eip'  height=\"152\" width=\"300\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-300x152.png 300w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip.png 415w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/div><\/div><\/div><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-336gcu9-ad1a8444fd239f852d02628410d4c08d\">\n.avia-image-container.av-336gcu9-ad1a8444fd239f852d02628410d4c08d img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-336gcu9-ad1a8444fd239f852d02628410d4c08d .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-336gcu9-ad1a8444fd239f852d02628410d4c08d av-styling- avia-align-center  avia-builder-el-12  el_after_av_image  avia-builder-el-last '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-6356 avia-img-lazy-loading-not-6356 avia_image ' src=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2.png\" alt=\"Sustainable restructuring - Executive Interim Partners\" title='eip-2'  height=\"160\" width=\"2704\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2.png 2704w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2-300x18.png 300w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2-1030x61.png 1030w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2-768x45.png 768w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2-1536x91.png 1536w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2-2048x121.png 2048w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2-1500x89.png 1500w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/eip-2-705x42.png 705w\" sizes=\"(max-width: 2704px) 100vw, 2704px\" \/><\/div><\/div><\/div><\/p><\/div>\n<div  class='flex_column av-32m4typ-ea547d8cce745e147df6a41cfac2b3a5 av_one_fifth  avia-builder-el-13  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  '     ><\/div>\n<div  class='flex_column av-2yyoyqp-0b48570c9e73d047671fe639687a557e av_one_fifth  avia-builder-el-14  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div>\n<div  class='flex_column av-2wi2dmp-ef7ea80db393db1264ef15e6afb541c1 av_three_fifth  avia-builder-el-15  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldafw19n-65b13c4354a97c11a97967e26a59b6d4 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p><strong>INTRODUCTION &#8211; A LOOK AHEAD TO THE YEAR 2025<\/strong><\/p>\n<p>The German economy is in a severe crisis, marked by rising insolvencies, stagnant economic growth, and increased transformation pressure in key industries. According to leading economic research institutes, Germany will once again end 2024 with stagnant economic performance, similar to 2023.<\/p>\n<p>The credit rating agency Creditreform reports that the number of corporate insolvencies in 2024 reached 22,400 cases, the highest level since 2015, with structural issues such as high energy and labor costs, as well as declining innovation capacity, severely impacting competitiveness.<\/p>\n<p>The latest Roland Berger restructuring study concludes that 98% of experts anticipate further increases in restructuring pressure, particularly in the automotive industry, construction, and retail sectors. Bureaucracy and labor shortages are cited as the biggest growth inhibitors, while limited financing options for restructurings add to the challenges.<\/p>\n<p>LBBW Research forecasts a slight decline in Germany&#8217;s GDP by 0.2% in 2025, as declines in exports and investments hinder recovery. In contrast, GDP growth is projected for 2025 in the Eurozone (0.4%), the United States (2.9%), and China (5.2%), with global growth expected at 2.9%. Hopes rest on stabilized private consumption; however, political and economic uncertainty remains a key risk factor.<\/p>\n<p><strong>In addition to the companies that will be confronted with a liquidity crisis for the first time in <\/strong><strong>2023 and 2024, numerous &#8220;old&#8221; restructuring cases from the past will also arise again.<\/strong> In addition to many of these so-called zombie companies, which will continue to be restructuring cases in the<br \/>\nforecast recessionary environment due to their high level of debt and rising interest rates at the same time, new companies will also be added that thought they had already successfully left the restructuring path. The reason for this is the fact that many restructuring processes of recent years have not been implemented sustainably and are therefore only temporarily effective.<\/p>\n<p>A survey of the leading restructuring experts by the consulting firm Deloitte concludes that less than a third of the restructuring projects were able to remedy the strategic causes of the crisis. At the same time, the study assumes that restructuring is completed too early and that a comprehensive and therefore sustainable restructuring has not taken place. As a result, many restructuring cases will find themselves in a crisis again in the short or medium term.<\/p>\n<p>Our interim managers at EXECUTIVE INTERIM PARTNERS (EIP), who have been and are active as Chief Restructuring Officer (CRO) or Chief Transformation Officer (CTO) in various companies and in numerous restructuring situations from different industries, come to the same conclusion:<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-aerncx-779def824450ff548dfdf9433588d952 av_one_fifth  avia-builder-el-17  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-2u553wh-b51cd68f8876701d0edf15b27895dffa av_one_fifth  avia-builder-el-18  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-2sakmr5-ad2a3c76a289453d3a1eabc0a9290ab3 av_three_fifth  avia-builder-el-19  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldafwhl8-c5a859da54a3be1cf5c3ac31688a84be '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong>&#8220;The restructuring process is only sustainable<\/strong><br \/>\n<strong>if it includes the fundamental transformation<\/strong><br \/>\n<strong>of the underlying business model and leadership structure,<\/strong><br \/>\n<strong>followed by the implementation of a strategy for profitable growth.&#8221;<\/strong><\/p>\n<\/div><\/section><\/div><div  class='flex_column av-2pyndbl-335304b027221ac3961999c370f591f7 av_one_fifth  avia-builder-el-21  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div class='flex_column_table av-2n0hcq9-c96ead3aebd95007a67db00d14891cdb sc-av_one_fifth av-equal-height-column-flextable'><div  class='flex_column av-2n0hcq9-c96ead3aebd95007a67db00d14891cdb av_one_fifth  avia-builder-el-22  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_table_cell av-equal-height-column av-align-middle  column-top-margin'     ><\/div>\n<div class='av-flex-placeholder'><\/div><div  class='flex_column av-2lt1zv5-28482b25f7f3b36fab58f49935079e16 av_three_fifth  avia-builder-el-23  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_table_cell av-equal-height-column av-align-middle  column-top-margin'     ><p><section  class='av_textblock_section av-ldafxant-9f59cf9fe35420648f49093f74612e24 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p>One of our EIP clients, an international automotive supplier, needed seven years and three IDW S6 reports from three different restructuring consultants, before the new management team was able to successfully shape the company&#8217;s restructuring, including the transformation of the business model and realignment and implementation of the growth strategy, in the long term.<\/p>\n<p>In order for a restructuring to be really successful in the long term, the following three phases in the restructuring process should be carried out and implemented consistently:<\/p>\n<p><strong>The process of \u201cSustainable Restructuring\u201d<\/strong><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2jx3kvl-35755193909c8d065ca216d364ecec6b\">\n.avia-image-container.av-2jx3kvl-35755193909c8d065ca216d364ecec6b img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-2jx3kvl-35755193909c8d065ca216d364ecec6b .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-2jx3kvl-35755193909c8d065ca216d364ecec6b av-styling- avia-align-center  avia-builder-el-25  el_after_av_textblock  avia-builder-el-last '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-8207 avia-img-lazy-loading-not-8207 avia_image ' src=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Sustainable-Restrucuring-phases.png\" alt=\"Sustainable restructuring - Executive Interim Partners\" title='Sustainable Restrucuring phases'  height=\"948\" width=\"796\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Sustainable-Restrucuring-phases.png 796w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Sustainable-Restrucuring-phases-252x300.png 252w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Sustainable-Restrucuring-phases-768x915.png 768w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Sustainable-Restrucuring-phases-592x705.png 592w\" sizes=\"(max-width: 796px) 100vw, 796px\" \/><\/div><\/div><\/div><\/p><\/div><div class='av-flex-placeholder'><\/div><div  class='flex_column av-2ik18wx-5f593e82b6947e9e1055167a49c257c1 av_one_fifth  avia-builder-el-26  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_table_cell av-equal-height-column av-align-middle  column-top-margin'     ><\/div><\/div><div  class='flex_column av-2egvjbl-785b2ed87fb6ad8ca3fc18c95c99aa86 av_one_fifth  avia-builder-el-27  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div>\n<div  class='flex_column av-2dndq0h-b5b1c06d9fdb9c27a481b71dc42ce271 av_three_fifth  avia-builder-el-28  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldafy4ac-28ff1d777b0a8ede177543b66fc7a5be '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p><strong>PHASE 1: RESTRUCTURING<\/strong><\/p>\n<p>In the first phase of \u201csustainable restructuring\u201d, which takes six to a maximum of nine months, <strong>measures to secure liquidity are implemented immediately in the event of a liquidity crisis<\/strong> . This includes communicating policies and implementing an immediate spending freeze for nonessential operational expenses, for investments (capex Freeze), a hiring freeze for new employees and the implementation of short-term measures to reduce working capital.<\/p>\n<p>In an EIP mandate at the subsidiary of a leading European aerospace group, we, as CRO, also deliberately implemented some symbolic measures to secure liquidity, such as the sale of the designer furniture in the boardroom and the subletting of floors of the representative company headquarters. The scrapping of old inventories, materials and systems that were no longer required and the termination of externally rented warehouses that were then no longer required also had a positive effect on liquidity and the internal awareness of management and employees for the crisis situation.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-2ayz00x-0b0d4c51d675493bc5d30230c331c3a7 av_one_fifth  avia-builder-el-30  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-29dxgk1-4eb214bf55794bdb24bd19547994093c av_one_fifth  avia-builder-el-31  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-27pjw3l-a692087a864480a84b881845abfea9f3 av_three_fifth  avia-builder-el-32  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldafyptb-972ac6e1057c987a1a35925a06d4ab3c '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong>&#8220;In practice, unfortunately, restructuring processes are often initiated much too late<\/strong><br \/>\n<strong>because the management, the shareholders and other stakeholders act too late<\/strong><br \/>\n<strong>or (want to) perceive how existential the crisis is for them and their company.&#8221;\u00a0<\/strong><\/p>\n<\/div><\/section><\/div><div  class='flex_column av-26j7yzl-0983226c5276d00dd6d9583e418f36e2 av_one_fifth  avia-builder-el-34  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-24ylncx-7cd040bc7043ec71fd24a546a5a7ab88 av_one_fifth  avia-builder-el-35  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-237pf0h-685e140f89db91071f65f2b5c0a0d082 av_three_fifth  avia-builder-el-36  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldafz8co-8cfacc34a6695cf57726ca46d91291ec '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p>Regaining trust through <strong>active stakeholder management<\/strong> is also one of the core tasks of a CRO. This includes the creation of transparency, internal and external communication of the company&#8217;s acute crisis, which is also the basis for demanding restructuring contributions from all stakeholders.<\/p>\n<p>A successful restructuring cannot be realized without complete transparency, regaining trust and receiving appropriate restructuring contributions from all stakeholders. For example, in one of our CRO mandates at a German automotive supplier, restructuring contributions included the <strong>refinancing<\/strong> through the prolongation of the existing debt financing for another four years by the banks, fresh equity funds from the shareholders, price concessions by customers, support of the works councils in the implementation of restructuring measures such as a plant closure and staff reductions in the administrative areas of the company headquarters.<\/p>\n<p>In addition, further liquidity-saving measures must be implemented for <strong>cost reductions<\/strong>, that are effective in the short term. The lack of consistency and the ability to implement restructuring measures are often the reason why an earnings crisis grows into a liquidity crisis or why companies are unable to get out of it. The CRO\/CEO of a medium-sized cable manufacturer achieved these savings by renegotiating purchasing conditions for prices and payment terms with its suppliers and by implementing measures for operational excellence, such as eliminating bottlenecks in production, reducing scrap and increasing throughput times.<\/p>\n<p>In addition, measures to <strong>secure and increase profitability<\/strong> must be implemented. In the case of an international automotive supplier, this included terminating a customer with chronically negative margins or standardisation of product solutions and streamlining of the product portfolio.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-221wkmp-a4d4d5c4452a2e2af2eb5a9066c52cca av_one_fifth  avia-builder-el-38  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-6zbf2p-784e37e85a00fafb54676fdffbef3a69 av_one_fifth  avia-builder-el-39  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div>\n<div  class='flex_column av-1wv0e4h-b181ae0dbdb62f0aa2314f17b4db51bd av_three_fifth  avia-builder-el-40  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldafzxxw-6f894090d9b4c246aa2e6f428193ed4b '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p><strong>PHASE 2: TRANSFORMATION<\/strong><\/p>\n<p>However, the implementation of short-term measures to secure liquidity and optimize costs after a successful restructuring process is not enough to put the company back for sustainable success.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-1uinp4x-18fa61d38663ce7be07218ed70f01007 av_one_fifth  avia-builder-el-42  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1te72v5-252827f9570fcc4d3fecae70c1abd44b av_one_fifth  avia-builder-el-43  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1rfykmp-a39ef70dfa191dd87f31c088dabe58f6 av_three_fifth  avia-builder-el-44  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag0ia0-f00ede1b6f2a2da63bc14ac893518729 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong>\u201cThe entire existing business model must be critically examined and adapted<\/strong><br \/>\n<strong>to the current challenges and made fit for the future.<\/strong><br \/>\n<strong>Immediately following the successful restructuring, a fundamental transformation<\/strong><br \/>\n<strong>is therefore necessary to sustainably turn around a company that has fallen into crisis.\u201d<\/strong><\/p>\n<\/div><\/section><\/div><div  class='flex_column av-1pxxp75-86873425a7c993f43f2c1e3a9cb14f89 av_one_fifth  avia-builder-el-46  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1ofu969-b69cd96e55aba587daebef8f64ea999f av_one_fifth  avia-builder-el-47  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1mtv2a9-6bc82d04f6a69ab8c324a7a00c6cee79 av_three_fifth  avia-builder-el-48  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag0xbv-f40d1536241013e8fd34df2ef3440929 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p>In the transformation phase, which can last at least twelve months, but often up to two years, the realignment of the <strong>corporate strategy<\/strong> takes place with the definition of a clear unique selling proposition (USP). If the business environment of an industry has changed permanently, the corporate strategy of the company must also be questioned and adapted or redeveloped. Top management and employees need a convincing vision of the future with clearly defined strategic goals in order to be motivated to work on sustainable restructuring and transformation.<\/p>\n<p>At the same time, the existing <strong>business model<\/strong> must be readjusted or renewed on the basis of the new corporate strategy. In one of our EIP mandates in the media and publishing sector, the interim CEO and Chief Transformation Officer (CTO) had to convert the more print-oriented business model to new digital services and processes. Although the COVID pandemic increased the pressure to digitize in addition to the already advanced digitization of the competitors, there was great resistance in the management team, in the editorial department and the sales team to adapting the existing analogue business model. Only through the replacement of leadership positions in management, sales and editorial teams, the success of proactive sales of digital services and acquisition of new key account customers, the targeted reallocation of investments to digital products and services and the support of the works council throughout the transformation process, the digitization of the existing business model could be implemented.<\/p>\n<p>These examples make it clear that with the existing <strong>corporate culture<\/strong> and <strong>organizational and management structure<\/strong>, a sustainable recovery of the company in crisis is not possible. At an international machinery and plant manufacturer for an EIP client, the resistance of the old management team to change was so great that a total of more than 30 managers had to leave the company and the structural and process organization had to be restructured (including the introduction of a project organization), before a successful and sustainable transformation was possible.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-1kt5lw1-0ad2174a7abc358fb482a6b2797cc263 av_one_fifth  avia-builder-el-50  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1irxi75-f657e3b468953fa333a30891c29ec872 av_one_fifth  avia-builder-el-51  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1i621fl-322a3408e4e51a2f4f05c51ee972c2be av_three_fifth  avia-builder-el-52  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag1la5-7acf832000c8be70230113cc068d359a '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong><em>\u201eYou can\u2019t create a &#8220;high-performance company&#8221; with change-resistant low performers, but only with many high performers\u201c<\/em><\/strong><\/p>\n<\/div><\/section><\/div><div  class='flex_column av-1glhfj5-dd8d27f80f947a2fce85696afd3b9f6f av_one_fifth  avia-builder-el-54  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1elf4gx-44dcbb269e28a25356cfecf80bc43d28 av_one_fifth  avia-builder-el-55  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1cecrc1-62a072e3fa3ddc126065fcd54cf12398 av_three_fifth  avia-builder-el-56  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag21fa-e68011599c6f04426be93a7925d9e79f '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p>This also made it possible to create and establish a completely new corporate culture at both the media company and the international machinery and plant manufacturer.<\/p>\n<p>As an important internal change there is also a need to switch from short-term measures for reducing cash outflows for investments, personnel costs, other operating costs and working capital to a permanent, structured and quantified management of these expenses. For this purpose, it page 6 makes sense to <strong>implement practicable KPI systems<\/strong>, where the responsible managers are forced to take a deeper look at the processes of the operative business through the regular exchange of deviations between target and actual. This can also lead to fundamental measures, the approach of which is elementary for the long-term competitiveness of the company. This includes, in particular, <strong>digitization through the introduction of new IT systems<\/strong> with their effects on internal company resources and processes, the necessity of which is already known but the implementation of ehich has been postponed. Ideally, the restructuring with its interventions has also increased the willingness to change in the organization for such far-reaching projects.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-1axujht-dfb4beabc978bf92a98b5b1c0c39fecf av_one_fifth  avia-builder-el-58  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-17b5w7l-c83c47b84b3c42ff5f4b4ccab1ace826 av_one_fifth  avia-builder-el-59  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div>\n<div  class='flex_column av-16pz2sh-b6cceb968c1e61e9971f0e51ee7f82fe av_three_fifth  avia-builder-el-60  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag2rdr-11bfb967f5fdc1b4146efa0231c18254 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p><strong>STAGE 3: SALES GROWTH<\/strong><\/p>\n<p>In the third and final phase of sustainable restructuring, the company must return to the growth path in phase 2 after the sales decline usually suffered before and during phase 1 restructuring and subsequent consolidation of the business model.usually suffered before and during phase 1 and<br \/>\nthe subsequent consolidation of the business model.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-14sl08h-8bce38712cbef7f9e07e73ab85d384c1 av_one_fifth  avia-builder-el-62  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-12iaopt-d786d63b6514b7fdb28341161b58f7a9 av_one_fifth  avia-builder-el-63  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-1155cq9-1466a08afb03905e0cce2802ee91edb9 av_three_fifth  avia-builder-el-64  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag3cy4-62a2799029e7ad06975f3be4b24f92a2 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: center;\"><strong><em>\u201eProfitable top line revenue growth is an important part of sustainable restructuring to keep the company from being stuck in a loop of ongoing restructuring programs to only optimize the bottom line.\u201c<\/em><\/strong><\/p>\n<\/div><\/section><\/div><div  class='flex_column av-108eq69-d00d39b9ee4cd8c024afa2bd9936903a av_one_fifth  avia-builder-el-66  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-y9wkpt-9e41f144b056cc7ac068c481dd91a4ca av_one_fifth  avia-builder-el-67  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-wj64pd-24b31c1ee833e0ae9348a4b799fd66b2 av_three_fifth  avia-builder-el-68  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag3tna-fda9555a76f556963e504d8bf9cab4c8 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p>The active management of <strong>existing customers<\/strong> with the aim of increasing the share of wallet, e.g.,. the proportion of a company as a supplier in the total purchasing volume of the customer supplied, was an important component for an interim CRO\/CTO from EIP at a German Tier One automotive supplier company to increase sales and thereby sustainably restructure the company.<\/p>\n<p>The interim CEO of the international plant manufacturer was able to sustainably increase sales and diversify and broaden the customer base through proactive <strong>new customer acquisition<\/strong> in other European countries and outside the existing customer portfolio (e.g. the construction of test stands for diesel vehicles of a Czech car manufacturer). The company developed a high level of resilience even during the subsequent COVID Pandemic, unlike its competitors.<\/p>\n<p>At the same time, the interim CEO had to ensure sufficient <strong>growth financing<\/strong>. This was possible by regaining the trust of the financing banks through open communication and transparency as well as the rapid recovery of the company, visible through the significant increase in profitability and the generation of positive cash flows.<\/p>\n<p>This economic recovery was also supported by <strong>cost degression effects<\/strong>, since despite the significant growth in sales after the restructuring and transformation, the realized sales growth of more than 30% had significant effects on earnings and liquidity. At the cable manufacturer was able to better utilize the existing production capacities. Due to the positive pressure caused by sales, the number of internal improvement suggestions from productive employees in production also increased, which led to a further increase in productivity.<\/p>\n<p>Often, a <strong>fourth phase<\/strong> is necessary for sustainable restructuring, during which the company\u2019s longterm refinancing and growth must be implemented. This long-term refinancing is often achieved through a change in ownership as part of an M&amp;A sales process, ensuring that the restructuring, business model transformation, and strategic realignment remain sustainably successful.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-v0p6kh-3c9f1a1d24c62ab2a5db30fdff6ec1c3 av_one_fifth  avia-builder-el-70  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-t1hb6p-4fa90dd3070a982307c2f9544b056c86 av_one_fifth  avia-builder-el-71  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-r3bdjl-c16d738fe67ee48602624c60ec9f7d4f av_three_fifth  avia-builder-el-72  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag4l3u-aa7cfe69c1a15b2ebb8acd3a18abd455 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p><strong>CONCLUSION<\/strong><\/p>\n<p>In the new year 2023, the ongoing, but also new geopolitical, economic and market-related or industry-specific disruptions will again plunge numerous companies into a liquidity crisis for the first \u2013 or even repeated &#8211; time.<\/p>\n<p>The restructuring process is usually recognized and initiated too late, but is often completed far too early after the most acute liquidity and, in some cases, earnings crisis has been resolved, but a full and thus sustainable restructuring of the company has not yet been implemented.<\/p>\n<p>If the restructuring of a company is to be really successful in the long term, profitable top-line sales growth must also be achieved after consistent restructuring and fundamental transformation of the business model.<\/p>\n<p>The use of an interim manager as Chief Restructuring Officer or Chief Transformation Officer, who has extensive experience and proven success in sustainable restructurings and transformations in restructuring situations in the position as a board member or managing director, has proven to be critical to success in many cases in practice.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-pfwyip-8e46bc6e5ea36d70094e2aa959e30566 av_one_fifth  avia-builder-el-74  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-n1m6dt-a97c16ecc01c054485c4af83da10db2e av_one_fifth  avia-builder-el-75  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div>\n<div  class='flex_column av-klrgcx-6e97391654f628925be7029a97173b3e av_three_fifth  avia-builder-el-76  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><p><section  class='av_textblock_section av-ldag51yv-fc097dbdc1ecdfea7ae1855ba61dadee '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p><strong>ABOUT EXECUTIVE INTERIM PARTNERS<\/strong><\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-jd1l41-5c6eebbbabe1371775b396603b73b5fd\">\n.avia-image-container.av-jd1l41-5c6eebbbabe1371775b396603b73b5fd img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-jd1l41-5c6eebbbabe1371775b396603b73b5fd .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-jd1l41-5c6eebbbabe1371775b396603b73b5fd av-styling- avia-align-center  avia-builder-el-78  el_after_av_textblock  el_before_av_textblock '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-6361 avia-img-lazy-loading-not-6361 avia_image ' src=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Mu\u0308nchen.jpg\" alt=\"Sustainable restructuring - Executive Interim Partners\" title='Mu\u0308nchen'  height=\"763\" width=\"1219\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Mu\u0308nchen.jpg 1219w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Mu\u0308nchen-300x188.jpg 300w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Mu\u0308nchen-1030x645.jpg 1030w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Mu\u0308nchen-768x481.jpg 768w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Mu\u0308nchen-705x441.jpg 705w\" sizes=\"(max-width: 1219px) 100vw, 1219px\" \/><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-ldag5ilr-6de1c88adf9db8238455441936b1c269 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p><strong>EXECUTIVE<\/strong> <strong>INTERIM PARTNERS <\/strong>(EIP) was founded in Munich in 2005 and is an entrepreneurial team with experienced interim managers.<\/p>\n<p>The partners of <strong>EXECUTIVE INTERIM PARTNERS <\/strong>support you and your company as an interim manager or consultant, especially in special situations that require immediate entrepreneurial action, such as<\/p>\n<ul>\n<li>restructurings \/ turnarounds<\/li>\n<li>refinancings \/ recapitalizations<\/li>\n<li>liquidity crises<\/li>\n<li>transformations<\/li>\n<li>leadership crisis or leadership vacuum<\/li>\n<li>growth crises<\/li>\n<li>IT Transformations \/ Cyber Security Management<\/li>\n<li>performance improvement<\/li>\n<li>exit preparation and company sale<\/li>\n<li>PMI\/ company acquisition<\/li>\n<\/ul>\n<p>All partners of <strong>EXECUTIVE INTERIM PARTNERS <\/strong>have a proven track record as managing directors and board members &#8211; as interim managers or in permanent positions. Approximately 80% of our mandates result from executive functions as interim managing directors or board members (e.g. as CEO, CRO, CFO, COO, CDO, or CSO).<\/p>\n<p>Clients of <strong>EXECUTIVE INTERIM PARTNERS <\/strong>are medium-sized family businesses, corporations and portfolio companies of private equity firms.<\/p>\n<\/div><\/section><\/p><\/div><div  class='flex_column av-h3r9w1-4b89f5ff66f5d21a3be876de9642de8e av_one_fifth  avia-builder-el-80  el_after_av_three_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><\/div><div class='flex_column_table av-e3ught-6a8316ca0361d8eebed0fbb47e010f16 sc-av_one_fifth av-equal-height-column-flextable'><div  class='flex_column av-e3ught-6a8316ca0361d8eebed0fbb47e010f16 av_one_fifth  avia-builder-el-81  el_after_av_one_fifth  el_before_av_one_fifth  first flex_column_table_cell av-equal-height-column av-align-middle  column-top-margin'     ><\/div>\n<div class='av-flex-placeholder'><\/div><div  class='flex_column av-bvlnkx-ea74ef12ad52c2f33475eac7ac89b286 av_one_fifth  avia-builder-el-82  el_after_av_one_fifth  el_before_av_two_fifth  flex_column_table_cell av-equal-height-column av-align-middle  column-top-margin'     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-avj7r5-39427bdb2224c0e06db9b3a896ae03c0\">\n.avia-image-container.av-avj7r5-39427bdb2224c0e06db9b3a896ae03c0 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-avj7r5-39427bdb2224c0e06db9b3a896ae03c0 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-avj7r5-39427bdb2224c0e06db9b3a896ae03c0 av-styling- avia-align-center  avia-builder-el-83  avia-builder-el-no-sibling '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" class='wp-image-6363 avia-img-lazy-loading-not-6363 avia_image ' src=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/michael-hengstmann.jpg\" alt=\"Sustainable restructuring - Executive Interim Partners\" title='michael-hengstmann'  height=\"960\" width=\"968\"  itemprop=\"thumbnailUrl\" srcset=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/michael-hengstmann.jpg 968w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/michael-hengstmann-300x298.jpg 300w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/michael-hengstmann-80x80.jpg 80w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/michael-hengstmann-768x762.jpg 768w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/michael-hengstmann-36x36.jpg 36w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/michael-hengstmann-180x180.jpg 180w, https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/michael-hengstmann-705x699.jpg 705w\" sizes=\"(max-width: 968px) 100vw, 968px\" \/><\/div><\/div><\/div><\/div><div class='av-flex-placeholder'><\/div><div  class='flex_column av-9o6fhd-e82892db8b9ea197016d0c28c6d87bac av_two_fifth  avia-builder-el-84  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_table_cell av-equal-height-column av-align-middle  column-top-margin'     ><section  class='av_textblock_section av-ldag7ncp-9b61c62b2a78152acee0b5278da68a85 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p><strong>ABOUT THE AUTHOR<\/strong><\/p>\n<p>Michael Hengstmann is the founder of and Managing Partner at Executive Interim Partners. He is also a co-founding partner and Co-CEO at Management Capital Holding AG, a private equity firm investing in medium-sized companies. Prior to joining Executive Interim Partners, Michael was a Partner and Managing Director at AlixPartners, the leading consulting firm for restructuring and turnarounds. Before that, he was a Partner and Managing Director at One Equity Partners, previously the captive private equity fund of J.P. Morgan.<\/p>\n<\/div><\/section><\/div><div class='av-flex-placeholder'><\/div><div  class='flex_column av-6xjbz5-7365752ae109b6a7942267ccb0a3ad29 av_one_fifth  avia-builder-el-86  el_after_av_two_fifth  el_before_av_one_fifth  flex_column_table_cell av-equal-height-column av-align-middle  column-top-margin'     ><\/div><\/div><div  class='flex_column av-62ofox-19c829bce5af1d7d1a836a32c4ba9bb6 av_one_fifth  avia-builder-el-87  el_after_av_one_fifth  el_before_av_three_fifth  first flex_column_div  column-top-margin'     ><\/div><div  class='flex_column av-4syk5d-d8a2de706e469ecbda3eb0ba8d56aab5 av_three_fifth  avia-builder-el-88  el_after_av_one_fifth  el_before_av_one_fifth  flex_column_div  column-top-margin'     ><section  class='av_textblock_section av-ldag84rd-c5899c651537003c103f0fd095c73823 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock blocksatz'  itemprop=\"text\" ><p>Michael started his professional career at a family-owned company. He later was Project Manager at Arthur Andersen and Partner and Managing Director at LEK Consulting.<\/p>\n<p>Michael has more than 20 years of experience in executive management roles and complex restructuring mandates, specializing in interim management for operational and financial restructuring.<\/p>\n<p>Michael served as interim Chief Restructuring Officer (CRO), Chief Executive Officer (CEO) and Chief Operating Officer (COO) in several German and international companies with a track record in successfully restructuring, refinancing and turning around companies in special situations.<\/p>\n<p>He is serves and has served as Chairman or Member of the Supervisory Board at several companies in Germany and abroad.<\/p>\n<p>Michael earned his Master of Science in Management with Excellence at Hult International Business School in Cambridge\/USA (formerly Arthur D. Little School of Management) studied Business and Administration at the Universit\u00e4t of Duisburg\/ Germany.<\/p>\n<\/div><\/section><\/div><div  class='flex_column av-2vewz5-a0bf108440240fbc9fa3851bd167b4c1 av_one_fifth  avia-builder-el-90  el_after_av_three_fifth  avia-builder-el-last  flex_column_div  column-top-margin'     ><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":6,"featured_media":6350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[110],"tags":[],"class_list":["post-6369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-publications"],"yoast_head":"\n<title>Sustainable restructuring - Executive Interim Partners - Executive Interim Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/executive-interim-partners.de\/en\/publications\/sustainable-restructuring\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sustainable restructuring - Executive Interim Partners - Executive Interim Partners\" \/>\n<meta property=\"og:url\" content=\"https:\/\/executive-interim-partners.de\/en\/publications\/sustainable-restructuring\/\" \/>\n<meta property=\"og:site_name\" content=\"Executive Interim Partners\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-24T16:25:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-26T10:32:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/executive-interim-partners.de\/wp-content\/uploads\/2023\/01\/Nachhaltige_restrukturierung-header.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"601\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"gr_r3hf980wr8\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"gr_r3hf980wr8\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"16 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/executive-interim-partners.de\\\/en\\\/publications\\\/sustainable-restructuring\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/executive-interim-partners.de\\\/en\\\/publications\\\/sustainable-restructuring\\\/\"},\"author\":{\"name\":\"gr_r3hf980wr8\",\"@id\":\"https:\\\/\\\/executive-interim-partners.de\\\/#\\\/schema\\\/person\\\/adf6ca5f56331e20536215a502945098\"},\"headline\":\"Sustainable restructuring &#8211; 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