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Pilot's log - leadership in challenging times Pilot logo
A P R I L 2 0 0 9

Welcome to the first edition of Pilot’s Log. The PILOTpartners team truly believes in the power of communicating industry news you will not have read elsewhere together with serious (and sometimes less serious) comment on the big issues of the day > more

Main Headlines

In Profile – With Ross Stuart

When Ross Stuart was hired for a six month turn-around assignment by the European parent of an established China-based plastics manufacturer, he wasn’t expecting a life changing experience. According to Ross, an interim CEO since 2002, all of his assignments are different, but in some form or another he gets thrown the same issues. By the end of this assignment, ‘the Foreigner’, as he was commonly known, could look back at his experience as “unusual, yet all the more gratifying for it.”
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On the Record - Alan Thomas

PILOT’s James Wheeler talks over lunch with Alan Thomas, stress equity investor specialist at Grant Thornton’s reorganisation and recovery practice, to find out ‘where have all the distressed deals gone?’ Alan tells us of the mysteries of the current deal climate and how there is always scope for value to be written back by stakeholder deals...
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On the Case - Graham Roberts

Imagine being part of a management team trying to uphold the 200 year old reputation of a company that has gone from successful global brand to basket case. Interim manager, Graham Roberts, was hired for three months. However, three months turned into six years, by which time the business was transformed and sold for more than £200m.

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The interim picture in 2009

While previous recessions have had a plethora of distressed deal opportunities, this recession has proven mysterious in terms of deal flow, as readers will find out in James Wheeler’s interview with Alan Thomas. Interim placements often work in parallel with distressed and growth equity transactions, which experienced a standstill in activity in the second half of 2008.
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Deals Done...

INTERIM CRO


North West
£15m
Specialist Manufacturing company

MBO business transformation leading to disposal
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INTERIM CEO


SE England
£60m
Pubs & retail group


Transformation out of crisis
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