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AlixPartners completes CEO succession

NEW YORK, Jan. 11, 2016 (GLOBE NEWSWIRE) -- AlixPartners, the global advisory firm, announces that Simon Freakley has become CEO. Simon was appointed Co-CEO of AlixPartners in August 2015 and has worked alongside previous CEO Fred Crawford in that role over the past five months. Simon will be based in both New York and London.

Also announced is the appointment of Fred Crawford as Senior Vice Chairman of AlixPartners. In this new role, Fred will remain on the Board of Directors. He will provide the firm with strategic insight and play a leading role around business development, marketing, and the recruitment and development of the firm's Managing Directors. Fred will be based in New York.

Simon Freakley joined AlixPartners in February 2015 when AlixPartners acquired Zolfo Cooper Europe, a leading independent provider of advisory and restructuring services, where Simon had been CEO for seven years. From 2004 to 2008 Simon was Global CEO of Kroll Inc.

Fred Crawford was appointed CEO of AlixPartners in 2008. The firm has grown significantly under his leadership, from a team of 700 professionals in 13 offices to over 1,500 professionals in 24 offices today.

Simon Freakley said,

"During the past five months I have met with hundreds of AlixPartners colleagues in our offices around the world. The quality, professionalism and energy of the whole AlixPartners team are truly impressive and have only increased my excitement to be leading the firm. Our unique model and ability to help clients solve critical business issues, often in time-pressured situations, are as relevant as ever in today's rapidly changing world.

"I would like to thank Fred for his partnership and support and I am delighted to be working with him in his new role."

Notes to editors:

Simon Freakley:

  • Chief Executive of AlixPartners since January 2016; member of the firm's Board of Directors
  • Since 2015, Managing Director of AlixPartners, EMEA Business Unit Leader, London-based
  • 30 years leadership experience: business turnaround, strategic consulting, and mediation in the development and implementation of business recovery strategies in large and high-profile turnaround cases, acting as chief restructuring officer and stakeholder management.
  • Previous CEO roles: CEO Zolfo Cooper Europe (London, 2008-2015); Global CEO of Kroll Inc (New York, 2004-2008), with 65 offices in 33 countries generating an annual turnover of $1 billion

Client-serving highlights:

  • Chief restructuring officer of Stemcor, the world's largest global independent steel trader, whose turnover exceeds £5 billion and which has a network of offices in 45 countries. The engagement involved the development and implementation of a financial and operational restructuring of the group.
  • Chief restructuring officer of hibu plc (formerly, Yell), a UK listed international provider of print and digital directory services, supporting management in the negotiation and restructuring of its indebtedness of £2.2 billion.
  • Chief restructuring officer of Bank SNORAS, Lithuania's largest national bank, by overseeing stabilization of the bank's liquidity position and managing day-to-day operations while providing sufficient breathing space to undertake analysis of the financial situation and the development of restructuring options, including recapitalization, balance sheet reconstitution, and insolvency.
  • Lead advisor to the board of a leading global tier two automotive parts manufacturer in the company's financial restructuring of $180 million in debt. The work involved negotiation of a debt restructuring and the development of a reorganization plan with the company's lenders.
  • Lead administrator to the Federal-Mogul Company in one of the largest cross-border restructuring proceedings in history. The Federal-Mogul company consists of 135 UK companies and is a leading global manufacturer of automotive parts, operating primarily in the United States and Europe.

Community roles:

  • Current: Chairman Dulwich Picture Gallery, Grange Park Opera and London Music Masters
  • Past: Board member of New York City Ballet, English National Ballet, Folger Shakespeare Library in Washington D.C.

About AlixPartners

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 www.alixpartners.com.

CONTACT: Tulchan Communications Tom Murray +44 20 7353 4200 tmurray@tulchangroup.com

Source: AlixPartners