Chief Restructuring Officer
About this role
Chief Restructuring Officer (CRO)
Position Overview
We are seeking an experienced Chief Restructuring Officer (CRO) to lead a complex financial and operational restructuring. The CRO will work closely with the Board, management team, lenders, investors, legal counsel, and other key stakeholders to stabilize the business, improve liquidity and operating performance, and develop and execute a comprehensive restructuring plan.
This individual must be a highly experienced, hands-on restructuring executive who can quickly assess the situation, establish credibility with stakeholders, and drive decisive action in a challenging and fast-moving environment.
Key Responsibilities
Lead the development and execution of the company’s financial and operational restructuring strategy.
Immediately assess liquidity, cash requirements, operating performance, capital structure, and near-term business risks.
Develop, implement, and actively manage a 13-week cash flow forecast and short-term liquidity plan.
Identify opportunities to preserve cash, reduce costs, improve working capital, and stabilize operating performance.
Partner with the CEO, CFO, Board, sponsors, and management team to establish restructuring priorities and execute against them.
Serve as a primary point of contact with lenders, private credit investors, private equity sponsors, bondholders, and other financial stakeholders.
Lead or support negotiations involving amendments, waivers, forbearance agreements, recapitalizations, refinancing, or other restructuring alternatives.
Evaluate strategic alternatives including asset sales, business-unit divestitures, refinancing, recapitalization, distressed M&A, and potential Chapter 11 proceedings.
Work closely with restructuring advisors, investment bankers, attorneys, and other outside professionals.
Develop detailed business plans, financial forecasts, restructuring models, and scenario analyses.
Identify underperforming business units, customers, products, or operations and implement corrective actions.
Establish appropriate restructuring KPIs and provide frequent reporting to the Board and key stakeholders.
Drive accountability throughout the organization and ensure restructuring initiatives are executed according to established timelines.
Provide leadership to employees and management during periods of significant change and uncertainty.
If necessary, lead the company through an in-court restructuring process, including DIP financing, first-day planning, creditor negotiations, asset sales, and emergence planning.
Qualifications
15+ years of senior financial, operational, restructuring, or turnaround experience, with significant experience in distressed situations.
Prior experience serving as a Chief Restructuring Officer, Chief Financial Officer, turnaround executive, restructuring advisor, or similar senior leadership role.
Demonstrated experience managing companies facing liquidity constraints, covenant issues, operational deterioration, or other financial distress.
Deep expertise in 13-week cash flow forecasting, liquidity management, working capital, financial modeling, and restructuring analysis.
Strong understanding of leveraged capital structures, private credit, secured lending, and restructuring alternatives.
Experience negotiating with lenders, sponsors, creditors, boards, and other sophisticated stakeholders.
Experience with both out-of-court and Chapter 11 restructuring situations strongly preferred.
Experience working with private equity-backed and/or highly leveraged businesses preferred.
Strong operational orientation with the ability to move beyond analysis and personally drive implementation.
Exceptional executive presence, communication skills, judgment, and ability to operate effectively in high-pressure situations.
Bachelor’s degree required; MBA, CPA, CFA, CTP, or other relevant professional credentials preferred.
Ideal Candidate Profile
The successful candidate will combine financial restructuring expertise with strong operational instincts. This is not an advisory-only position. The CRO must be comfortable working inside the business, making difficult decisions, challenging assumptions, and driving execution.
The ideal candidate will have successfully navigated multiple distressed situations and will be equally comfortable working with the management team on day-to-day liquidity issues and presenting a restructuring strategy to lenders, sponsors, and the Board.
The CRO should bring a calm, credible presence to a difficult situation while maintaining a strong sense of urgency and accountability.
Engagement Structure
The position may be structured as an interim, consulting, or full-time executive engagement, depending on the circumstances and needs of the company. Significant interaction with the Board, lenders, investors, and outside restructuring professionals should be expected.
Originally posted on Himalayas