AlixPartners announced that Dennis Cassidy joined as a managing director and co-lead of the firm’s Energy Practice. Cassidy started his career with ExxonMobil and was most recently at Booz & Co.
AlixPartners appointed John D. Finnerty, Ph.D., as a managing director in the firm’s Economics-Consulting Practice. Previously, he worked for Finnerty Economic Consulting and PricewaterhouseCoopers.
AlixPartners said its recent survey found that levels of corporate stress are rising across a number of countries and industries, which could be driving factors behind the region’s turnarounds and restructurings.
According to an AlixPartners study, with legalized online gaming recently becoming a reality in Nevada, casino operators are under intense pressure to make sure that Internet gambling helps rather than hurts their business.
The Wall Street Journal reported that J.C. Penney is working with turnaround firm AlixPartners to help identify cost savings and manage cash flow as the retailer pursues a new loan to shore up its finances.
AlixPartners promoted James A. Mesterharm to co-lead the firm’s TRS unit in the Americas. Mesterharm is also a managing director at the firm and is currently serving as CRO of Kodak.
AlixParnters said John A. Dischner, a managing director in the firm’s Turnaround & Restructuring unit, was named to Turnaround & Workout’s People to Watch-2013; Business Professionals Making Their Mark list.
AlixPartners said that Brian P. Major has joined the firm as managing director in the Enterprise Improvement unit. Major was previously with McKinsey & Co.
AlixPartners hired Randall S. Eisenber to co-lead the Turnaround & Restructuring Services Practice with Alan Holtz. Eisenber previously worked for FTI Consulting as a managing director.
Ongoing sluggish economic growth and high levels of corporate debt created an expectation that post-recession restructuring activity would continue at a reasonable pace. However, as measured by U.S. bankruptcies, the trend seems to have reversed. AlixPartners’ Thomas Osmun and Joseph Mazzotti examine where the bankruptcies have gone, activities that have taken their place and what it means for the restructuring industry.