Frequently, in restructuring situations it is beneficial to introduce executives to the board or management team who bring specific turnaround/restructuring expertise and an objective, impartial perspective. Deloitte service this requirement in three ways:
The Deloitte Executive Network (DEN) is an informal and non-exclusive group which comprises leading turnaround directors operating in today's market. It enables Deloitte to refer suitable individuals to clients who require their specialist skills. It comprises 200 professionals.
Deloitte will introduce the potential executive to the company from a recommended short-list according to company requirements. The executive will negotiate terms directly with the client and Deloitte does not benefit from any commercial terms as a result of introducing the executive(s) to the client. Furthermore, the company will be responsible to undertake it own vetting process to ensure the executive is appropriate for the role.
Deloitte has an arrangement with the Chief Restructuring Officer boutique Aaronite Partners. They can provide organisations with a CRO with the full range of restructuring skills required to analyse and then implement a business turnaround. Aaronite clients include Deutsche Woolworths, Bison, Whitehead Mann and Torex Retail plc.
In certain circumstances, Deloitte partners and staff may be seconded direct to clients. Many projects are intensive requiring both financial and operational skills and therefore are team works in a hands-on manner working at close quarters with CEOs and CFOs and complements our advisory roles to boards.