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Holding Ourselves to a Higher Standard

JCR Guest Editor

Welcome to summertime and our second annual edition of the Journal of Corporate Renewal focused on Certified Turnaround Professionals (CTP). The accreditation is a differentiating factor to stakeholders dedicated to turnarounds, restructurings, and bankruptcies—and you’ll find out why by enjoying these articles from a host of awesome authors.

Starting from the end, our last piece is from the honorable, Judge Jean K. FitzSimon (ret.), from the Eastern District of Pennsylvania. She outlines why having a CTP can make a difference in the courtroom, titled “Excellence Displayed through the CTP Designation.” TMA’s certification program produces individuals who are exceptional in tackling the myriad issues that she saw before her in court. We appreciate her honor’s insights, involvement, and the time she has committed.

Our journal will open with Frank Turner, CTP, from Sherwood Partners Inc. who is currently the VP of Certification on the TMA Executive Board. He lets us know, “What’s the Impact in the (CTP) Designation? Frank details the work of TMA’s Certification Oversight Committee, outlining how it goes about ensuring the CTP designation remains the gold standard in the turnaround space.

Randall S. Eisenberg, CTP, and Holly Etlin, CTP, partners and managing directors at AlixPartners, provide an overview and insights in their article, “Leading in a Disruptive World.” While volatility and uncertainty may have peaked in the immediate wake of COVID-19, leaders must remain vigilant in preparing for tomorrow.

David M. Weinstein, CTP, a strategic advisor with Culain Capital Funding, will enlighten us in his piece, “Navy SEALs Principles in Asset-Based Lending,” combining his lending and restructuring expertise. Our work may not require the physical and mental discipline of our military’s special forces, but we can take applicable lessons from their approach.

In one of our most poignant pieces, Margaret “Maggie” Good, CTP, one of TMA’s early mentors and her son, Michael Von Lehman, CTP, president of Meridian Management Partners, welcome us into their conversation, “Turnarounds Through the Generations.” This discussion shows how the industry and the CTP designation have evolved through the years, letting us hear firsthand from a transformative turnaround professional in Maggie along with a current TMA luminary in Michael.

I will do my best to keep pace with our CTP authors in providing a look into our domestic and European certification program in the article, “CTPs Are Paving the Way.” The designation, pursued by professionals the world over, stands for the dedication, professionalism, expertise, and determination inherent in those who attain it.

Also in this issue, TMA pays tribute to his Judge Kevin J. Carey, who passed away in April, far too soon. His honor, in addition to being brilliant in his work, was one of the most beloved people in our industry. Kevin was one of the best and nicest people in the world—his presence made us all better and feel better.

I hope you enjoy June’s Journal of Corporate Renewal and, again, I would like to offer my heartfelt thanks to all the authors and other contributors like James Horgan from AlixPartners who contributed to this issue.

Robert D. Katz, CTP

Robert D. Katz, CTP

EisnerAmper LLP

Robert D. Katz, CTP, is a managing director of Eisner Advisory Group Financial Advisory Services practice. He assists the company in improving its cash flow performance and operating effectiveness, while serving as an interim CEO and CFO. Katz is also an adjunct professor in strategic management and corporate finance at Temple University in Philadelphia.

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