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21 June 2016 | TMA Europe's Turnaround of the Year award winners

Two outstanding examples of turnaround management have been recognised by the European body dedicated to corporate renewal.

The winners of TMA Europe’s annual Turnaround of the Year awards were announced at its annual conference earlier this month as Freshfields Bruckhaus Deringer for its turnover of a large company and Rcapital for its turnover of a small company.

The awards, which are now in their fifth year, aim to celebrate the achievements of the individual or team of TMA turnaround professionals who have orchestrated the most successful recovery of a struggling company. Submissions are assessed on the actions taken to bring around the turnaround, the issues that arose and how they were overcome, as well as the eventual outcome. The small company category is for companies whose revenue at the onset of the turnaround was less than 100 million Euros, and the large company category is for companies whose revenue at the onset of the turnaround was more than 100 million Euros.

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