The role of a Turnaround Manager is to save companies from a seriously unprofitable situation. This may follow a merger, take-over, restructure or as a result of adverse market conditions or mismanagement. A first class Turnaround Manager is more than a short-term 'company doctor'; he or she redefines the company's business mission and restructures it for long-term survival. This book shows how to do this. It includes practical advice from experienced Turnaround Managers, real-life examples of best practice and an objective guide to the principles involved in this increasingly important role.

BO ARPI is the Founder and Managing Director of Arpi International S.A., Brussels. He was formerly Vice President of the Volvo Group of Companies and Marketing Director of ITT Business Systems Group and also Professor of Business Administration at the University of Illinois and Helsinki Graduate School of Business Administration.

PER WEJKE has held a number of senior executive positions and is currently President and Chief Executive Officer of Allgon AB, Sweden.

Both authors have considerable experience of successful turnaround management.

International Turnaround Management: Definition, Purpose, Symptoms and Trends Different Kinds of Turnaround Situations Overview of the Different Steps Involved in Most Turnarounds When Cash is King: Squeezing the Balance Sheet for Cash The Blueprint for the Future Company and Supporting Quantitative Benchmarks Rebuilding the New Management Team and Creating a New Team Spirit From Where to Get Plan Input Data Penetrating the Fog: Activity-Based Costing (ABC) in Three Turnaround Situations Case 1: Allgon Case 2: ESAB Case 3: Atlas Copco Tools Case 4: Atlas Copco MCT Case 5: Almex Case 6: Tarkett