In the news

As corporations face the most turbulent times in recent decades, Egon Zehnder International has announced the launch of a Strategic Restructuring Practice Group. The Practice is establishing a new approach to restructuring, which reflects the realignment of leadership and a deep understanding of the skill sets that will be needed during and after the restructuring period. Feedback from local markets like the Czech Republic suggests that companies all over the world are facing the same challenges, reports the Czech publication Euro. "Demand for restructuring managers is growing. Yet some companies are still hesitant about making the changes needed, even although it may already be too late,” notes Robert Fekete, a consultant at Egon Zehnder International, Prague. “In any case, there is no lack of such managers in the Czech Republic," Fekete concludes. The main competencies required by managers seeking to restructure both established and fledgling companies include rapid decision-making skills, the ability to identify and deal with crises, complex process management and strong risk assessment skills.