Awareness of the Chief Restructuring Officer is gathering momentum in Australia, says Steve Conolly of Atos

TMA Member Profile

Steve Conolly CTP, General Manager, Atos Australia

What makes the TMA Australia great?

The capability and diversity of the individuals and organisations that make up the TMA allows business leaders to access experienced professionals for a wide range of business situations. TMA is represented by an impressive cross section of organisations, people and skillsets, bringing immense capability to the Australian market.

Why or how did you get involved in TMA?

Having been involved in turnarounds for many years, it was clear that the awareness and understanding of turnaround professionals is still relatively unknown in Australia, especially when compared to the northern hemisphere. For example, although well established across Europe and North America, the use of the Chief Restructuring Officer (CRO) by Australian businesses in decline is gathering momentum, but is still not mainstream.

The TMA is working hard to increase awareness and demonstrate the benefits that turnaround brings to business and the economy – and the positive social impact of business recovery can never be overstated.

“The positive social impact of business

recovery can never be overstated.”

What’s the most significant trend or event happening in the turnaround and restructuring industry?

With recent legislative changes such as Safe Harbour, the awareness of positive recovery options available to business leaders is gathering momentum.

The use of turnaround professionals will be more prevalent while the collaboration between corporate restructuring professionals and turnaround specialists will be increasingly seamless.

What would someone who only knows you professionally be surprised to learn about you?

Motor racing. I own a 31 year old BMW E30 coupe, equipped with a racing engine. I race at Phillip Island, Sandown and also at Winton, in NE Victoria. There is always someone faster of course but track days are about personal challenge – just to peel another 0.5 second off a long-standing lap time results in a grin for a week!