\nUlrich:<\/strong> The restructuring wave was already rolling in the first industries in the second half of 2019, but the coronavirus crisis is now making it even more severe. Here, a problem becomes apparent: While the number of restructurings has increased and will continue to increase, the number of restructurers has remained the same. Some banks even cut their workout units and made them more centralized, such as Commerzbank AG and DEUTSCHE BANK AG.
\nIn our view, there will not be enough restructurers with strategic expertise to cope with the rising number of cases. New qualifications and qualities are required from existing restructurers. In addition to strategic and social skills, more courage to think laterally and lead change will be required in the future. Since anticipatory skills are a MUST for the new type of corporate reorganizer, lawyers cannot fulfill this requirement profile.
\nThere is no doubt that there are few restructurers who demonstrate expertise and passion primarily in strategic transformation. Turnaround, operational transformation and performance management fall short, as does restructuring of the liabilities side.
\nSEViX:<\/strong> But let's get to the point. Can you explain clearly why the number of restructurings will increase significantly?
\nUlrich:<\/strong> In the fat years, many companies fail to invest sustainably in their own future viability and to implement a strategic transformation or build a resilient business model,
\nSEViX:<\/strong> Can you explain this with a practical example?
\nUlrich:<\/strong> Gerne. Schauen Sie sich einmal das Chart B\u00f6rsenwertentwicklung der Unternehmen „A“ und „B\u201c die in der gleichen Branchen wirken an, welches anonymisiert wurde.
\nIn general, the 2010 financial year - following the shock of the Lehmann bankruptcy in October 2008 - was perceived as a year of recovery. The order intake, order backlog and sales of the two companies showed significant improvements compared with the previous year 2009.
\nJedoch hatte das Unternehmen „B“ eine mit den Stakeholdern gemeinsam entwickelte Strategie, welches bei Eintreten der Fr\u00fchwarnindikatoren sofort operationalisiert wurde. Beim Unternehmen „A“ grassierte – mit einem schwachen CEO – das \u201ePrinzip Hoffnung\u201c auf bessere Zeiten. Im Gesch\u00e4ftsjahr 2009 wurde beim Unternehmen „A“ ein Konzern-Gesamtverlust von ca. 132 Mio. EUR – bei einer Bilanzsumme von 1.071 Mio. EUR – ausgewiesen. Das Unternehmen „B“ hatte selbst im Krisenjahr Dividende ausgesch\u00fcttet. Im Vergleich zum Jahr 1997 hatte das Unternehmen „A“ keinen signifikan-ten B\u00f6rsenwertzuwachs; dagegen hatte das Unternehmen „B“ einen B\u00f6rsenwertzuwachs in der Spit-ze von +1.200 %.
\n
![\"\"](\"https:\/\/media.sevix-group.com\/2020\/06\/Benchmarking-DEUTZ-vs.-Cummins-2.png\")
\nSEViX:<\/strong> What is the role of the Supervisory Board?
\nUlrich:<\/strong> Die Aufgabe der Aufsichtsr\u00e4te besteht nicht nur darin, sich \u00fcber Wasser zu halten und als Sparringspartner der Vorst\u00e4nde zu fungieren, sondern vor allem darin, die langfristigen Aussichten des Unternehmens richtig einzusch\u00e4tzen und konsequent – bei Schlechtleistung der Vorst\u00e4nde – zu handeln. Ein geeigneter CEO ad Interim ist f\u00fcr das Unternehmen auf jeden Fall besser als die weitere Besch\u00e4ftigung eines \u201eempty suit!\u201c Die SEViX GmbH hat mit Dr. Thomas Forster einen exzellenten Business Transformation Manager, der des \u00d6fteren sehr erfolgreich als „CEO ad Interim“ fungierte!<\/p>\n
What are the trends to consider in a strategic business transformation?<\/h2>\n
SEViX:<\/strong> What business transformation trends are being amplified by the Corona Pandemic triggered crisis? Rainer E. Ulrich, mentally robust, coupled with the situational measure of empathy, has an illusi-onal understanding of business reality. As Managing Director and Executive Manager of mid-sized companies and portfolio companies, he has led several business transformations. Thanks to his very good analytical understanding, his antipa-tive sense for new customer needs and for what is feasible, successful stra-tegies were developed. He is extremely adept at integrating the ideas and insights of employees, colleagues, customers, suppliers and institutions into the new value creation architecture. With his decision-making power and transformational leadership style, he was able to impressively and demonstrably implement the strategy in operational practice. Rainer E. Ulrich is the founder of SEViX GROUP, which specializes in business transformation.<\/em><\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n Ein neue Typus des Unternehmenssanierers wird nach der Corona Pandemie erforderlich sein! In Deutschland d\u00fcrfte im Gefolge der Corona-Krise die Zahl der Firmen-Insolvenzen nach Ansicht von Bonit\u00e4tspr\u00fcfern deutlich steigen. „Wir erwarten im Jahr 2020 Stand jetzt bis zu 15 Prozent mehr Firmeninsolvenzen in Deutschland“, erkl\u00e4rte der Wirtschafts-Informationsdienstleister Crifb\u00fcrgel gegen\u00fcber der Augsburger Allgemeinen. 2021 d\u00fcrfte die […]<\/p>\n","protected":false},"author":4,"featured_media":4343,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12,26,28,14],"tags":[],"class_list":["post-4201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-beitraege","category-frontpage_3","category-publ_2","category-ulrich"],"_links":{"self":[{"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/posts\/4201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/comments?post=4201"}],"version-history":[{"count":20,"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/posts\/4201\/revisions"}],"predecessor-version":[{"id":5148,"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/posts\/4201\/revisions\/5148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/media\/4343"}],"wp:attachment":[{"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/media?parent=4201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/categories?post=4201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sevix-group.com\/en\/wp-json\/wp\/v2\/tags?post=4201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nUlrich:<\/strong> First, faster adoption of new technologies. The world is experiencing a crash course in e-commerce, digital payments and remote working. More medical innovations beckon, including gene editing and med-tech technologies. The Life Sci-ence sector is becoming the sustainable growth engine!
\nSecond, global supply chains are being reshaped, accelerating the pace of change since the start of the trade war. Companies will seek greater security buffers and a critical mass of close-to-home production in highly automated factories. Cross-border corporate investment could fall 30-40% this year. Global firms will become less profitable but more resilient.
\nDrittens, die letzte langfristige Verschiebung ist weniger sicher und eher unwillkommen. Ein weiterer Anstieg der Unternehmenskonzentration und der Vetternwirtschaft, da das Geld der Regierung den privaten Sektor \u00fcberschwemmt und gro\u00dfe Firmen noch dominanter werden. Bereits zwei Drittel der amerikanischen Industrien haben sich seit den 1990er Jahren st\u00e4rker konzentriert, was die Vitalit\u00e4t der Wirtschaft untergr\u00e4bt. Jetzt l\u00e4uten einige m\u00e4chtige Unternehmenslenker eine neue \u00c4ra der Zu-sammenarbeit zwischen Politikern und Gro\u00dfunternehmen ein – vor allem jene, die auf der immer l\u00e4nger werdenden Liste von Firmen stehen, die als „strategisch“ gelten.
\nSEViX:<\/strong> Thank you very much for your very interesting comments, which are helpful for companies and creditors who need an experienced corporate rehabilitator of the new type.<\/p>\nShort introduction of Rainer E. Ulrich:<\/h3>\n
<\/h3>","protected":false},"excerpt":{"rendered":"