Chief Restructuring Officer - Crisis Manager And ... Dependent Employee

Cost increases, sales slumps, lack of liquidity: these days, companies are facing major challenges. When a company runs into difficulties, it needs experienced people who have knowledge of such situations and are able to support or even assume the management. To this end, companies are increasingly using the services of Chief Restructuring Officers (CROs) again. We explain what tasks the CRO typically takes on and what points need to be considered for this position from a legal perspective.

A CRO is a crisis manager who is to work on temporary basis at the company in question. Companies rely on the fact that a CRO has extensive experience in crisis situations, that he then puts to use for the company in question. In practice, independent management consultants or experts from restructuring consultancies often take on the role of CRO as interim manager.