International Turnaround Management Standard honors Dr. Donald D. Bibeault

The International Turnaround Management Standard is a corporate restructuring and transformation process developed by leading industry experts, turnaround consultants, restructuring experts and academics around the world.


Dr. Donald Bibeault and Dr. Christoph Lymbersky
Dr. Donald Bibeault and Dr. Christoph Lymbersky

PRLog (Press Release)Jan. 31, 2014HAMBURG, GermanyThe International Turnaround Management Standard (ITMS) is a project management-based method to aid restructuring professionals through a corporate turnaround. The book is the outcome of a five-year research project carried out by the Turnaround Management Society, a not-for-profit network of turnaround managers, restructuring experts, and transformation consultants. The team around Dr. Christoph Lymbersky analyzed 150 cases to find out what leads to a successful turnaround.

At the Turnaround Management Society’s annual conference on January 31, 2014, Dr. Christoph Lymbersky honored the contribution that Dr. Donald D. Bibeault’s work has made to the turnaround management industry as a whole and the ITMS in particular.

“When we first started our research project we stood in front of a pile of books taller than ourselves. After working through every single one of them, I came to the conclusion that over the last 20 years only two books have truly influenced the industry and shaped the way turnarounds are done. One of them is Corporate Turnaround: How Managers Turn Losers into Winners. In this book, Dr. Bibeault lays the foundation for every other book on the restructuring industry, and today I can say that it has had a major influence on the International Turnaround Management Standard as well. I am honored by his contribution to this huge project and I am thankful for the discussions with him and the feedback we received,” said Dr. Lymbersky.

Dr. Bibeault replied, “I believe that any profession requires an intellectual foundation to distinguish it from a trade or a calling. Beginning in the 1970s and continuing throughout my life, my primary objective has been to create and sustain such a foundation. I am very pleased that Dr. Christoph Lymbersky and his colleagues have created the International Turnaround Management Standard to perpetuate and enhance the research and intellectual underpinnings of the turnaround management profession.”

Dr. Christoph Lymbersky is executive director of the Turnaround Management Society (TMS) a not for profit international network of elite corporate restructuring and turnaround consultants. The TMS offers certifications and a membership program designed to support its members in their daily business. Dr. Christoph Lymbersky is also a senior management consultant at Detecon International.

Dr. Donald Bibeault is cofounder of US-based Verto Partners, a firm devoted to operational turnaround excellence. Verto professionals have led numerous corporate turnarounds and hail from elite U.S. business schools. While the originator of many of the original turnaround concepts, most of Dr. Bibeault’s career has been spent as CEO leading medium size companies in “mission Impossible” turnarounds. In addition he has been the principle turnaround advisor on several multi-billion ($ U.S.) turnarounds.





Verto Partners joint statement

Richard (Dick) Lindenmuth, Managing Director and Shareholder of Verto Partners, LLC (“Verto”), has been appointed by Pat McCrory, Governor of the State of North Carolina, as the interim CEO of the state’s new, nonprofit private economic development arm, the Economic Development Partnership of North Carolina. He will take a leave of absence from Verto to devote full time to this assignment.

Initially, Dick will work with a five-member interim board of directors of the Partnership whose objectives are to recruit new businesses, aid existing businesses looking to expand and help boost the state’s exports. He will work on staffing the Partnership and ensuring legislation defining the Partnership’s role is approved during the 2014 legislative short session.

In the first half of 2014, he is expected to oversee the movement of the Business Development and Marketing divisions of the North Carolina Department of Commerce to the Partnership, followed by other divisions, including Travel & Tourism, Film and Sports Development.

Dick is, first and foremost, a successful business development and restructuring professional executive. He has been a corporate performance advisor and Chief Executive Officer in a variety of industries, with business models ranging from high-technology and services to heavy- and basic-industries and is noted for his comprehensive execution skills. He has more than 30 years general management experience in both domestic and international operations including Bendix, Automotive, Hyundai, ITT, Renault and Burroughs. He was President of ITT’s Business and Consumer Communications Group in Raleigh, where he led 12,000 employees through rapid deregulation to record profitability and successful turnaround.

His recently published book, “The Out of the Box Executive”, focuses on his experiences and practices as an effective change agent. He has also authored articles on “The Rebirth of Made in America” and “Creating Growth”, devoted to developing domestic job growth and stimulating company growth, respectively.

Dick has been a resident of North Carolina since 1981. He lives with his wife, Mary-Beth and two children, in Raleigh. He earned his MBA at the University of Pennsylvania Wharton School of Business and is a US Navy Veteran.