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Corporate recovery issues for business

Ross Tieman
The Times
8 October 2009

PA Consulting Group’s Steve Frobisher, an expert in turnround services, has been quoted extensively in a Racontour report published in The Times on corporate recovery.   

In his article ‘The future of UKplc’ Ross Tieman examines the importance of a cohesive top team to secure recovery.  Ross refers to Steve’s forceful metaphor: "You cannot afford to have people who agree with a position in the board room and speak in a different voice when they are out on the company floor."

Steve’s comments are also quoted in the article ‘An emerging market’.  The article looks at how many sound companies are becoming attractive takeover targets and how the next wave of restructuring may centre on strategic mergers and acquisitions. Steve comments that as other companies restructure, many will focus on the activities they do best, and shed the rest. Those really short of cash may also sell some of their best, most attractive businesses, to save others with good, but unrealized potential. "I think we are on the cusp of seeing quite substantial portfolio shifts," he says.

Steve is also quoted in an article on consumers and companies restructuring debts and learning to live with lower expectations, ‘The balancing act’.  Steve highlights the challenge of forecasting in this market, referring to the example of car and van manufacturing – there is global capacity to make cars and vans of 100 million units a year, against forecast demand of 60 million units.  Steve says "Forecasting has never been more difficult."

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