Background and challenging situation
When a company goes bankrupt, the liquidator aims to sell its assets at the highest possible price. Saving employment and long-term perspectives for a sold subsidiary are not considered. In this situation the management consultant is taking an extraordinary role.
In this case we are discussing a profitable subsidiary company of a larger airline that went bankrupt. This subsidiary company with about some hundred employees is a valuable asset. It is the owner of all the real estate and facility management of the airline corporation (the mother organisation). Due to a specific situation, the selling process is difficult and very long. This is a phase of big uncertainity for all personnel. In this situation, one of the two board members and some executive officers make a buying offer. To avoid a conflict of interest, the board member resigns from the board immediately. Now the liquidator needs to assign to the board of directors an independent peer of the president who is capable of entering into this challenging role very fast. André Wohlgemuth from ARCOM takes over and guarantees an independent view for a good corporate governance.
Process and outcome
The assignment is limited until the company can be sold, which takes over two years. The specific «Return of Consulting» is not only a successful selling process but must also avoid anxieties and increased turnover of staff. In addition, the client side must be managed to maintain business confidence. Of course, risk management issues and optimising the value of the company are important tasks that have to be completed successfully.
«If the autopilot is out of order and turbulence is approaching, the captain needs a reliable co-pilot. With André Wohlgemuth CMC, I got the right person for this challenging and complex board job. His professional support was very valuable in our delicate landing phase»
Rolf Winiger, president of the board of Avireal Ltd.