If you would like to receive Perspective - our monthly newsletter – which brings you all of our latest news and views as well as interviews and opinion pieces then please follow the link below...
Interim management qualification unveiled
Turnaround executives may in the future require accreditation before they can occupy positions in failing companies.
The Institute of Turnaround has announced that it will begin offering formal qualifications to executives considering working in troubled companies.
The industry organisation hopes that this will increase the supply and calibre of interim professionals able to apply for executive appointments in turnaround situations.
Designed to make the sector formal, regulated and legally protected, the IFT Turnaround Practising Certificate and Professional Licence will be launched next year in an incredibly challenging corporate environment, particularly for financial institutions.
Commenting on this proposal, Stephen Long, head of lending at HSBC, said: "[We] fully support this initiative which will provide greater clarity, consistency, and accountability in turnaround situations."
Turnaround executives can in many cases offer businesses advantages in difficult economic climates, the corporate planning specialist Phillip Mydlach said earlier this year.