NEW YORK, Oct. 3, 2013 (GLOBE NEWSWIRE) -- Albert A. "Al" Koch, vice chairman at global business advisory firm AlixPartners and managing director in the firm's Turnaround & Restructuring Services group, today received congratulations from his AlixPartners colleagues in advance of his induction on Friday into the Turnaround Management Association (TMA) Hall of Fame, one of the most prestigious honors in the field of corporate renewal.
Koch, who has been with AlixPartners 18 years (following 14 years at a major accounting firm), has led some of the highest-profile turnaround-and-restructuring engagements in the firm's history, including General Motors – the largest industrial restructuring in U.S. history. In that engagement, he served as chief restructuring officer of GM, playing a key role in restructuring the company for future competitiveness. Then he served as chief executive officer of "old GM," where in conjunction with federal, state and local regulators and other stakeholders he engineered a historic trust for the continuing environmental remediation of former GM plants and properties, for as long as 100 years in some cases.
Recently, Koch was also part of the AlixPartners team at Eastman Kodak Co., which last month emerged from bankruptcy with a new lease on life as a company focused on delivering imaging innovation for business.
"Al Koch is truly a giant in his field and all of us at AlixPartners congratulate him on his upcoming induction into the TMA Hall of Fame," said Lisa Donahue, global leader of Turnaround & Restructuring Services at AlixPartners. "Besides being a stellar practitioner throughout his distinguished career, Al has also always stood out for his thoughtfulness – for clients, for other engagement stakeholders and for staff. He has a genuine concern for the needs of everyone he interacts with, and has always done his best to live up to his longtime personal and professional credo: 'to achieve the greatest good for the greatest number of people.' Al has been a mentor to many throughout our industry, and an inspiration to all."
The TMA Hall of Fame ceremony will take place Friday at the TMA's annual meeting at the Marriott Wardman Park hotel in Washington, D.C. The Hall honors those "whose outstanding individual contributions have made a lasting positive impact on an industry dedicated to stabilizing underperforming companies, rebuilding corporate value and retaining jobs." Past inductees have included such luminaries as AlixPartners founder Jay Alix, Edward Altman (father of the Altman Z-score) and businessman Wilbur Ross.
About the Turnaround Management Association
The Turnaround Management Association (turnaround.org) is the leading organization dedicated to turnaround management, corporate restructuring, and distressed investing. Established in 1988, TMA celebrates its 25th anniversary with more than 9,000 members in 48 chapters worldwide, including 31 in North America. Members include turnaround practitioners, attorneys, accountants, investors, lenders, venture capitalists, appraisers, liquidators, executive recruiters, and consultants, as well as academic, government, and judicial employees.
AlixPartners is a leading global business advisory firm of results-oriented professionals who specialize in creating value and restoring performance at every stage of the business lifecycle. We thrive on our ability to make a difference in high-impact situations and deliver sustainable, bottom-line results. The firm's expertise covers a wide range of businesses and industries whether they are healthy, challenged or distressed. Since 1981, we have taken a unique, small-team, action-oriented approach to helping corporate boards and management, law firms, investment banks and investors respond to critical business issues. For more information, visit alixpartners.com.
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