Featherstone to Succeed Lovett at AlixPartners

AlixPartners announced Monday several senior level appointments. David Lovett, MD and leader of AlixPartners’s turnaround & restructuring services for the Europe, Middle East and Asia region, is retiring effective Dec. 31. Donald Featherstone will succeed Lovett and, effective Jan. 1, he will become leader of the turnaround & restructuring services for the EMEA region. Luca Ramella, an AlixPartners MD, was named to the EMEA Operating Committee. Stephen  M. “Steve” Deedy was named co-leader of global information management services division, while Patrick M. “Pat” Byrne was hired as an MD and co-leader of the firm’s enterprise improvement division in North America.

The global business-advisory firm AlixPartners LLP today announced several senior-level appointments designed to build on the firm’s recent successes in the marketplace and bolster its fast-growing operations globally.

“AlixPartners is evolving rapidly, and these appointments will enable us to sustain our growth, and even better meet the changing and deepening needs of our clients,” said Fred Crawford, CEO of AlixPartners. “Building on our heritage and strength in the turnaround and restructuring business, we are experiencing strong growth in enterprise improvement and newer areas, such as information management services which complement our core services and enhance our offerings to clients in all situations.”

United States

Veteran AlixPartners Managing Director Stephen M. “Steve” Deedy has been named co-leader of the firm’s fast-expanding global Information Management Services (IMS) division. Deedy, who most recently co-led AlixPartners’ Enterprise Improvement division in North America, has more than 30 years of experience in information technology, operations, process improvement, strategic planning, business development, and revenue and profitability growth. He joins fellow co-leader Meade Monger in heading up the IMS unit, as the group expands deeper into areas including corporate business intelligence and analytics; M&A intelligence for improved deal-making and post-deal operations; and investigations, litigation and case-management support. Deedy will continue to work from AlixPartners’ New York office.
Patrick M. “Pat” Byrne has been hired as managing director and co-leader of the firm’s Enterprise Improvement division in North America, and has been appointed to the firm’s Global Operating Committee. Byrne, an internationally recognized advisor and strategist in many fields, including supply chain and transportation, has extensive experience in building leading professional-services, technology-services, business-process outsourcing and other types of companies. In his 30-year career, Byrne has served as global managing director for operations and supply-chain-strategy consulting and business services at Accenture; chief operating officer of A.T. Kearney Inc.; and as a senior partner at Ernst & Young where he was responsible for transportation and supply-chain/logistics services. Most recently, Byrne was an operating partner at TowerBrook Partners L.P., an international private-equity firm. Byrne will work from AlixPartners’ New York office and joins John Hoffecker in co-leading the North American Enterprise Improvement business unit.

“Steve Deedy has been an exceptional leader in our Enterprise Improvement unit and, with his information technology background and expertise, he and Meade Monger are the leaders to guide and manage our IMS division through its rapid expansion,” said Crawford. “In Enterprise Improvement, we are happy to welcome Pat Byrne as co-lead of the division. Pat has a proven track record of leadership and driving results for clients, and we believe he will be an invaluable asset to our clients.”

Europe, Middle East & Asia

David Lovett, managing director and leader of Turnaround & Restructuring Services (TRS) for the EMEA region, will retire from full-time work at AlixPartners effective December 31. Lovett co-founded AlixPartners’ presence in EMEA and will continue to play a role in the ongoing development of the firm’s EMEA TRS division following his retirement. Throughout his career with AlixPartners, Lovett played an instrumental role in the firm’s EMEA restructuring practice, including leading some of its most high-profile and complex turnaround and restructuring assignments in EMEA.
Donald Featherstone will succeed David Lovett and become leader of Turnaround & Restructuring Services for the EMEA region effective January 1. Featherstone has nearly 20 years of experience working in consulting, finance and industry, and has spent the last 10 years with AlixPartners working primarily in EMEA. He has worked with public and privately held companies to provide leadership during periods of financial distress to reach consensual restructuring agreements with stakeholder groups. He has served as executive chairman, CEO, CFO, chief restructuring officer and lead advisor in many complex turnaround and restructuring situations around the globe including in the U.S., U.K., Europe and the Middle East. In 2010, he was included in Private Equity News’ list of top restructuring advisors in Europe. He is a regular lecturer at the London Business School, and is a member of the American Bankruptcy Institute and the Institute for Turnaround. Featherstone, a managing director, will also become a member of AlixPartners’ Global Operating Committee, and will continue to work from the firm’s London office.
Luca Ramella, a veteran AlixPartners managing director and one of the firm’s most senior restructuring professionals, has been named to the AlixPartners EMEA Operating Committee. Working from the firm’s Milan office, Ramella will work closely with Featherstone and Lovett, as well as with the North American TRS co-leaders, Peter Fitzsimmons and Lisa Donahue, to further enhance AlixPartners’ international restructuring work.

“I would like to extend my warmest thanks to David for the contributions he has made to AlixPartners. In his 35-year career, he has firmly established himself as a world-renowned expert within his field, and his knowledge and experience will continue to be an invaluable asset for us and our clients,” said Crawford. “In Donald Featherstone, we have an extremely experienced and talented multi-national turnaround and restructuring specialist who has been involved in dozens of corporate restructurings around the world. His appointment will see him take over where David left off, further developing our practice and offering our clients unrivaled expertise and market insight.”

About AlixPartners

AlixPartners LLP is a global business-advisory firm offering comprehensive services in four major areas: enterprise improvement, turnaround and restructuring, financial-advisory services and information-management services. The firm has offices around the world, and can be found on the Web at www.alixpartners.com.