Chief restructuring officer… Rising default rates mean companies are having to hire an expert they never hoped to need: a chief restructuring officer. For struggling companies, chief restructuring officers can bring enormous value. But companies need to be careful when bringing such a person on board. In, particular, crafting a chief restructuring officer’s engagement letter to avoid conflicts down the road — especially with chief financial officers — is paramount.
The CRO’s role must be defined and understood by company leaders. CROs are often hired to allow other executives to focus on the business, but it’s not always possible to separate the CRO from financial, operational, or executive matters. Specificity in the engagement letter is crucial. Read article.
The fund has been pushing for a restructuring as a condition of giving its support to Greece’s latest bailout package.
The chief restructuring officer’s duties and degree of autonomy need to be crystal clear, or conflicts could develop.
The deal would create the world’s largest agricultural supplier but Bayer shareholders fear it will be detrimental to its pharmaceutical business.
The fertilizer company says the U.S. crackdown on tax inversions had reduced the benefits of its proposed merger with OCI NV.
The company is investing at least $1.4 billion in industrial projects as part of Saudi Arabia’s plan to reduce its dependence on oil.
Growth in the music-streaming service’s net losses was only 6.7% in 2015 compared to 289% the previous year.