NEW YORK, April 8, 2013 (GLOBE NEWSWIRE) -- AlixPartners, the global business advisory firm, today announced that James A. "Jim" Mesterharm has been promoted to co-lead the firm's Turnaround & Restructuring Services (TRS) unit in the Americas. Mesterharm, who is also a managing director at AlixPartners, is deeply experienced in developing financial and operating strategies for underperforming and troubled companies, both as an advisor and a C-level interim manager. He is currently serving as chief restructuring officer (CRO) of Eastman Kodak Co.
Said Fred Crawford, CEO of AlixPartners: "Jim is not only one of the finest turnaround and restructuring professionals in the world, he's also someone who personifies AlixPartners' core values, starting with the importance of results-oriented client service. As our firm continues to grow and evolve, I know that Jim, along with our fellow Americas TRS leader, Lisa Donahue, will take a unit that is already the gold standard of the industry to even higher levels."
Throughout his 17-year career at AlixPartners, Mesterharm has had extensive experience in a variety of industries. His roles have included:
- General Growth Properties Inc., where he served as restructuring advisor to one of the leading REITs in the shopping-mall industry, with more than 200 properties and $27 billion in debt;
- Tekni-Plex Inc., where, as CRO, he led the out-of-court restructuring and day-to-day operations of this leading manufacturer of garden products, food and medical packaging;
- A leading manufacturer of plastic packaging, where, as chief operating officer, he led an out-of-court restructuring and ran day-to-day operations, resulting in a nearly 50% improvement in EBITDA on a year-over-year basis;
- Silicon Graphics Inc., where he led a team that implemented sweeping cost-reduction initiatives, which generated more than $130 million in savings, secured incremental financing and negotiated a pre-arranged bankruptcy – allowing the company to emerge from bankruptcy in five months;.
- Parmalat USA Corp., where, as CRO, he led the company's day-to-day operations and its successful restructuring efforts;
- Zenith Electronics Corp., where he served as an advisor helping Korean giant LG Electronics take Zenith private through a pre-packaged restructuring;
- Safety-Kleen Corp., where he also served as lead restructuring advisor in that company's restructuring.
Mesterharm holds a MBA in finance, strategy and organizational behavior from Northwestern University's Kellogg School of Management, and holds a bachelor's degree in accounting and management from Purdue University. He was named by Turnarounds & Workouts in 2005 to its "People to Watch, Business Professionals Making Their Mark" list and has been a guest lecturer on restructuring topics at the Kellogg School. Mesterharm resides with his family in the Chicago area.
AlixPartners, LLP is a global business-advisory firm offering comprehensive services in four major areas: enterprise improvement, turnaround and restructuring, financial-advisory services and information-management services. Founded in 1981, the firm has offices around the world, and can be found on the Web at www.alixpartners.com.
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