The Turnaround Management Association, an international organization of 10.000 members in 54 chapters worldwide that focuses on corporate restructuring, renewal, and corporate health space, headquartered in the United States, has just appointed Vlad Năstase as Global Vice-President for International Relations.
Vlad Năstase is CEO of Romanian corporate restructuring company Concilium Consulting and the only Romanian ever appointed to be part of the international board of the Association.
I am truly honored to be appointed amongst the most highly skilled turnaround professionals in the world to oversee the Association’s international presence and also to run the newly founded International Committee, which reunited colleagues from 5 different continents. I will do my best to highlight the benefits of turnaround solutions for companies and offer best-practices in this matter both in Romania and worldwide, Vlad Năstase, VP for International Relations says.
—Read more aboutConcilium Consulting: The National Agency for Fiscal Administration of Romania Approved the Restructuring of All Budgetary Debts of Satrotec AG Company, Which Now Aims to Double Its Turnover read more
In being appointed as TMA Global Vice President of International Relations, Vlad has been recognized for both his leadership in the Romania chapter as well as how he has advanced the importance and value of being a TMA member all throughout Europe. We look forward to Vlad’s leadership in this critically important TMA Executive Board role as we continue our growth in Europe and throughout the world, says Scott Y. Stuart, Esq., Chief Executive Officer Turnaround Management Association.
Vlad Năstase enabled Romania to represented for the first time in the Turnaround Management’s Association leadership, thus opening our country towards the world’s most powerful economy, granting her visibility on the map of global tendencies and easier access to international financing concerning restructuring solutions for companies. The Association is also present in Romania as of 2012 and counts over 50 members – specialists in banking, restructuring, business lawyers, specialists in investments and financial consulting.
Vlad Năstase: Turnaround management solutions are growing more and more popular in Romania also, due to entrepreneur’s and manager’s will to identify the most appropriate instruments for distressed businesses or developing companies. We managed to raise awareness regarding identifying the early signs of trouble and asking for professional help – even if this means taking two steps back from leadership and share responsibility with a turnaround professional.
Turnaround management is most often resorted to when companies start noticing vulnerabilities, when the business goes through a restructuring process and needs through solutions implemented by a Chief Restructuring Officer or when firms need an authorized opinion regarding their relationships with creditors, especially banks.
Vlad Năstase has over 20 years of experience in the banking field, risk management and non-performing loans, business restructuring, financial services and workout. After gaining a solid expertise in senior management positions for renowed banking institutions, he switched to entrepreneurship and now leads the financial consultancy company Concilium Consulting, with a portfolio of tens of businesses regarding all important industries in Romania. He has recently restructured tax debts amounting to 48 Million lei for the Chimica Group companies, enabling the distressed business to keep workers and continue it’s activity.
Established in 1988, Turnaround Management Association (TMA) is the only international non-profit association dedicated to corporate renewal solutions and to turnaround-type management, with branches in 54 countries and over 10,000 members. Members include turnaround practitioners, attorneys, accountants, advisors, liquidators, consultants, as well as academic, government employees, and members of the judiciary. TMA members are a professional community that seeks to strengthen the global economy by working to save distressed businesses, assist management to navigate off-plan events, and help healthy companies avoid similar pitfalls.
The Turnaround Management Association’s governing body is its Executive Board, which has supervision, control and direction of the Association’s affairs, its committees and publications, determines its policies or changes therein, and adopts its annual fiscal program and budget. The Executive Board actively prosecutes the Association’s objectives and supervises the disbursement of its funds. In all cases, the Executive Board members include the: Chair, President, Vice Presidents for Conferences, Finance, Membership, Communications, Chapter Relations, International Relations, Certification and Education, Secretary, Immediate Past Chair, Chapter Presidents’ Council Chair and Vice Chair, Chapter Resource and Response Committee Chair and between three and six At-Large Executive Board members.
