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Out of the Ashes: Tools for Recovering Corporate Health

Out of the Ashes: Tools for Recovering Corporate Health

Jean-Frédéric Mognetti

ISBN: 978-0-470-75434-4

Apr 2008

350 pages

$40.99

Description

Take a management journey to the heart of the restructuring of SN Brussels Airlines, sharing the dos and don’ts of Jean-Frédéric Mognetti’s three years of hands-on experience as restructuring catalyst to the company. In 2002 SN rose out of the ashes of Belgian airline SABENA, witnessing a remarkable turnaround and returning to continuing profits as early as the second year of operations, even going on to acquire Virgin Express in 2005. This was achieved with a modest equity investment of €150 million, 12 times less than the cash that Swiss International Airlines, SN’s former sister company, burned through in the same conditions.

As well as describing the actions of both the architects and the doers of this startling achievement, Mognetti broadens the management scope of each step of his corporate transformation proposal with the help of a panel of seven CEOs and chairmen. Together, as if in a virtual board meeting, they outline which management lessons to bear in mind to remain on a healthy growth track and avoid a turnaround being no more than a remission.

The virtual board members are :

Richard Lapthorne – Chairman of Cable and Wireless plc Sébastien Bazin – CEO Colony Capital Europe

José Zurstrassen – Founder & CEO Skynet and Keytrade Bank

Pierre Henry – CEO Sodexho Pass International

Arthur Lok Jack – Chairman Guardian Insurance Holdings Ltd and Neal & Massy Holdings Ltd

Magnus Welander – CEO Envirotainer

Bernard Charles – CEO Dassault Systèmes

“This book is fascinating and valuable because it deals with an issue few others touch on, namely how to resurrect a company which has collapsed. This is a must read book for anyone interested in company restructuring whether in the airline or other industries.”

Professor Rigas Doganis, former Chairman/CEO of Olympic Airways and author of “The Airline Business”

“Corporate restructuring is not normally a challenge that managers or employees have to meet. In Out of the Ashes, Jean-Frédéric Mognetti gives us a broad approach and tools to handle such a stressful event, based on his unique blend of academic insight and consulting expertise.  Mognetti has skilfully brought into play the experience of seven CEOs and Chairmen who talk about their experience of restructuring, so the book contains a truly grounded set of insights.”

Richard Gillingwater, Dean, Cass Business School, City of London

Former MBA Director at the Paris EAP-ESCP Business School and Professor at HEC, Jean-Frédéric Mognetti is a well-respected academic and consultant who has helped organisations across the world to achieve sustainable turnarounds and to grow organically. Mognetti is in high demand for his hands-on strategic expertise and his no-nonsense advice. An active consultant to CEOs and boards, he has blue-chip clients such as Sodexho, DHL, Xerox and Orange as well as fast growing companies. He is the author of the book Organic Growth, published by Wiley in 2002.

Foreword.

Introduction.

PART I: THE CEO, THE HINGE OF THE CORPORATE TRUST- AND CONFIDENCE-BUILDING MECHANISM.

Chapter 1: Driven by value.

Chapter 2: It works both ways.

Chapter 3: Take it step by step.

Comments and observations.

PART II: THE DRIVERS OF A TURNAROUND STYLE.

Chapter 4: Close and concentrated.

Chapter 5: Practise every day.

Comments and observations.

PART III: IN THE HEART OF THE TURNAROUND.

Chapter 6: Applying the word"different" in the area of performance measurement.

Chapter 7: The new management toolbox.

Chapter 8: The business model revisited.

Comments and observations.

PART IV: TAKING THE CORPORATE PULSE.

Chapter 9: leveraging the value of the heritage.

Chapter 10: Rewiring the performance assessment system.

PART V: SPEAKING THE NEW LANGUAGE FLUENTLY.

Chapter 11: Learning how to speak RoDoC.

Chapter 12: Improving the winning formula.

Comments and observations.

PART VI: SEEING THE FUTURE FIRST .

Chapter 13: From budget to forecasting.

Chapter14: Plugging day-to-day performance into the future.

Comments and observations.

Conclusion.

Epilogue.

Afterword.