Martin I. Katz and Executive Sounding Board Associates (ESBA) announced that Katz will step aside from active leadership of the company. He will continue to be active in the industry, serving as a director and providing board advisory services to emerging growth through Fortune 500 companies. His legacy at ESBA will continue with Robert D. Katz as president, and Michael DuFrayne as CEO.

“Marty’s guiding principles have always been preserving corporate value and jobs, improving entities performance, and furthering the opportunities and prosperity of his clients,” Robert Katz said. “That will not change, and we look forward to continuing ESBA’s tradition of excellence and client service.”

Well-known in the industry for bringing a sense of stability and credibility to otherwise chaotic situations, Marty Katz brought integrity, knowledge, compassion and leadership to every engagement.

“Marty’s vision, mentoring, leadership and training have been the foundation for many others in the industry who have gone on follow his success,” said DuFrayne. “His legacy is all of us who reflect his work ethic as we progress in our respective careers.”

A veteran of the industry and often credited as one of its pioneers, Marty Katz played a pivotal role in the birth and growth of the turnaround industry. With extensive management and strategic business development experience, he founded ESBA in 1977 to serve as a strategic sounding board for struggling companies. Over the last 36-plus years, he has been responsible for leading hundreds of turnaround and restructuring engagements. In so doing changed the trajectories of many businesses. His experience encompassed a broad array of industries, and he was integral to the success of many high-profile turnaround engagements.