"Every CRO, whether young or old, must know their craft"
The restructuring industry in Germany is remarkably dominated by well-known, experienced CROs—the “old hands.” The same specialists are repeatedly called upon for nearly all high-profile and large-scale turnaround projects.
"To a certain extent, experience can be compensated for by hard work"
Yet the world of restructuring professionals in Germany is far more diverse. Precisely because of the increase in the number of companies facing financial difficulties in recent years, the demand for restructuring experts has risen significantly, giving many young restructuring professionals the opportunity to prove themselves. And while the veterans have undeniable advantages in terms of experience, reputation, and assertiveness, the next generation brings interesting new skills to the table, particularly in the areas of new technologies and digital business models, as well as a more modern approach to communication and leadership.
In this episode of SMP Leading in Transformation, Janis Steinfort, a representative of the younger generation of restructuring experts, and the experienced restructuring expert Monika Dussen discuss what both generations of CROs can learn from each other and whether we will soon see new faces on high-profile projects.
*Video only in German
