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Our History

TMA’s growth in numbers and accomplishments in fulfilling its mission of membership service and management excellence is impressive. This timeline provides a perspective on how far TMA has come and how it is positioned for dramatic growth in the future.


June 25
Kenan Institute meeting of turnaround practitioners that is the genesis of TMA is held.

September 22
Follow-up Turnaround Practitioners’ Conference at the Kenan Institute attracts 40.

View a list of TMA’s founding members


January 20
TMA is incorporated in North Carolina.

May 16-17
First TMA seminar, "Corporate Decline—Problems and Resolutions," at Kenan Institute at the University of North Carolina at Chapel Hill.

September 18-20
First Annual Conference: "Corporate Renewal: A Strategy for the 1990s," Arlington, Virginia.

First Directory of Members and Services published.

May 10
TMA’s Board Room Series: "Managing in the Bankruptcy Environment," New York.


First seven chapters established: Atlanta, Baltimore (Chesapeake), Boston (Northeast), Chicago, Los Angeles (Southern California), New York City, and Texas (Dallas/Ft. Worth).

Connecticut Chapter becomes eighth chapter when it is spun off from New York City Chapter.

Board of Directors adopts TMA’s Code of Ethics.


TMA International headquarters moves to Chicago.

Membership surpasses 1,000.  


Houston, Montreal, New Jersey, and Toronto Chapters established.

Certified Turnaround Professional (CTP) established; Professor Harland Platt, Northeastern University, appointed faculty dean.

TMA Awards Program launched.

Nancy Davis hired as first staff member in Chicago.


Nine chapters are established: Carolinas, Cincinnati and Cleveland (Ohio), Detroit, Central and South Florida (Florida Chapter), Phoenix (Arizona), Pittsburgh, and San Francisco (Northern California).  

First CTP exam given during the Spring Leadership Conference, Jacksonville, Florida; 24 CTPs earn credentials.


Northwest Chapter is established.

Cornerstone Program established to fund education through corporate sponsorships.

Chairman John Wm. "Jack" Butler Jr. testifies on TMA’s behalf before the National Bankruptcy Review Commission.


Tennessee Chapter established.

Membership exceeds 2,000.


TMA launches turnaround.org.


Five chapters established: Long Island, Louisiana, Minneapolis (Upper Midwest), St. Louis (Missouri), and Upstate New York

Loan Officers Training Course is launched.

Journal of Corporate Renewal magazine launched.

10th Anniversary Annual Conference, Chicago

"Turnaround of the Year, International," added to TMA Awards Program.

Membership hits 3,000.


TMA’s Academic Advisory Council is founded.

"Turnaround of the Year, Pro Bono," category added to TMA Awards Program.

First Toronto Symposium held.


United Kingdom Chapter established.

Membership surpasses 4,000.

First Northwest Cross-Border Conference held.

Linda M. Delgadillo, CAE, becomes TMA Executive Director.


Colorado (Rocky Mountain) and Central Texas Chapters established.

TMA publishes first Annual Report, "2001 Year in Review."

John Wm. "Jack" Butler Jr. and Martin J. McKinley receive first Chairman’s Awards


Branding initiative launched.

First Great Lakes Regional Conference held.

Membership exceeds 5,000.


Australia and France Chapters established.

Cornerstone 15 board-designated endowment fund and Carl Marks Student Paper Competition both launched.

Membership exceeds 6,000.


First Australia Conference held.

Butler-Cooley Excellence in Teaching Awards established.

Japan Chapter established.


Southern African and Taiwan Chapters established.

Transaction of the Year Awards categories added to TMA Awards Program.

First Northeast Regional Conference held.

TMAssist created to help Gulf Coast businesses devastated by Hurricane Katrina.


Finland, Germany, and Nevada Chapters established.

First Southeast Regional Conference held.

New licensing system for international chapters launched.


Czech Republic, Italy, Netherlands, and Spain Chapters established.

First Distressed Investing Conference and MidAmerica Regional Conference held.

Membership reaches 8,000.


First TMA Europe Conference held.

First 10 inductees named to the industry Hall of Fame established to mark TMA’s 20th anniversary; former TMA chairmen designated honorary members.


Brazil and Sweden Chapters established.

Membership reaches 9,000.

First Western Regional Conference held.


Troubled Loan Workouts and 13-week Cash Flow online courses are created.

A Facebook page and a members-only Linked In group are established.

Membership management system installed and integrated with online and internal systems.


Hong Kong, Ireland, and Romania Chapters established.

New governance structure implemented to concentrate decision-making authority in a 22-member Executive Board with input from 90-plus member Board of Trustees.

Gregory J. Fine, CAE, joins TMA as CEO.


Digital versions of the Journal of Corporate Renewal introduced, online at tmajcr.org and through apps for all smartphone platforms.

TMA Institute, a new comprehensive education system centered around online courses, announced.

Inaugural NextGen Leadership Meeting held in New York City, drawing 40 up-and-coming leaders representing 15 chapters.


Certification program fully integrated into TMA, and Certified Turnaround Analyst (CTA) credential added.

Singapore Chapter established.

New conference format, The TMA Senate, replaces Spring Conference.


The 2021 TMA Annual - ONSITE

Nashville, TN United States

The 2021 TMA Annual - VIRTUAL


TMA Town Hall: Construction Market Trends, sponsored by Ritchie Bros.


Restructuring Boot Camp: Two-Part Certificate Program - Session 17

Congratulations to our 2021 TMA Chapter & Individual Award winners! We can’t wait to honor them at our Keynote Lunc… https://t.co/nAhbuXcnw4

The most exciting reunion in TMA history is just one week away! We can’t wait to see everyone joining us in-person… https://t.co/l3cG5A7YvG

TMA is exceptionally proud of the team behind Tuesday Morning Corporation’s turnaround, one of our 2021 Turnaround/… https://t.co/6yEq0Wmpb7

Joining us at the TMA NOW/IWIRC Luncheon, sponsored by Arch + Beam and Carl Marks Advisors, is Victoria Eady Butler… https://t.co/VpTD5ENmwo

Whether you’re onsite or online, you’ll enjoy all the amazing virtual elements at The 2021 TMA Annual, Oct. 26-29.… https://t.co/itADaesM85