International Turnaround Management Standard honors Dr. Donald D. Bibeault

HAMBURG, Germany - Jan. 31, 2014 - PRLog -- The 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.