Turnaround Division

Too many business leaders have placed their companies at risk by short-term thinking, failing to re-invest capital, and forgetting what made their companies successful in the first place. Virtually all companies are feeling the effect of current economic conditions. Can the trend be reversed?

We believe it can!

Cornerstone International Group has established a new Cornerstone Turnaround Division, specifically designed to help client companies reverse downward business results. As one of the largest retained executive search organization in the world, we have the contacts and resources to successfully meet the task of rebuilding endangered companies.

In fact, Cornerstone principals have been helping client organizations to find so-called “turnaround executives” for decades.

COMMENTS FROM TURNAROUND EXPERTS:

“Turnaround management can pull companies away from the brink of bankruptcy,” says Cornerstone Founder and CEO, William Guy. “Turnaround executives are a different breed of leader and we have been helping client firms to attract such turnaround executives for years…but now we must help hundreds of more companies that are in urgent need today.”

Kevin Turner, Chief Operating Officer of Microsoft, and prominent Keynote Speaker at the Cornerstone 2009 Global Conference, stated, “There’s a well known saying that ‘a crisis is a terrible thing to waste’ and there’s some truth there,” He went on to say, “It exposes mediocrity and tells us where we need to improve. It forces us to make tough decisions and eliminate the unnecessary.”

Richard Stevens, formerly president of Disneyland Hotels and associate of Olympic celebrity Peter Ueberroth, is heading the new Cornerstone Turnaround Division. “Turnarounds are a key to tomorrow’s business success stories,” says Stevens. “You learn the hard way in these situations and, if you can complete the turnaround, you can translate those tough lessons into an action plan for success.”

David Perdue, who turned around both Reebok and Dollar General, has said, “Many people believe that within this current global recession are major paradigm shifts which will require many corporations to both reinvent themselves and improve their own relevancies with all their stakeholders. This will require major turnaround efforts that focus on changes in global consumerism and a recommitment to meeting changing consumer needs. Those corporations that are flexible and quick to adapt will be able to capitalize on these global changes.”

World-class economist, Dr. Ted C. Jones, comments, “As the rate of change in the economic and business landscape accelerates, business must respond in a swift, deliberate, and focused manner.” He continues, “That may mean engaging new turnaround leaders who can swiftly get their companies back on the right track.

Jack Lindsey, former lieutenant to Ronald Reagan and CEO of several successful turnarounds, states, “I am laying odds on Detroit.” In view of the urgent need for a successful turnaround of the economy, Mr. Lindsey has drawn the comparison of General Motors guided by CEO Obama versus Ford guided by CEO Mulally.

FACULTY OF TURNAROUND EXPERTS:

This new Cornerstone Turnaround Division is headed by successful, experienced executives covering a wide range of disciplines. The Division is assembling a “faculty” of turnaround leaders from virtually every industry, every management job function, and every geographical market. These turnaround executives are able and willing to serve as part of turnaround teams for client companies. They are willing to commit to stay with the project for 12 to 18 months, or longer, until the turnaround has adequate momentum.