TURNAROUND adviser AlixPartners has lined up Simon Freakley, the former CEO of recently acquired restructuring specialist Zolfo Cooper, as its next boss.
Freakley, who joined the firm as a managing director in February 2015 when AlixPartners acquired Zolfo Cooper Europe, where he had been CEO for seven years, will serve as co-CEO with Fred Crawford until 1 January 2016.
Crawford will take on a new role within the firm and remain a member of the board.
“I have been CEO for eight of the 11 years that I have been with the firm and, from a personal perspective, now is the right time for me to pass on the leadership baton,” said Crawford.
“I got to know Simon well through the process to acquire Zolfo Cooper Europe and since he joined the firm I have been impressed by his strategic thinking, operational insight, and empathic approach to building relationships.”
Freakley was previously global CEO of Kroll between 2004 and 2008.
“I had long admired AlixPartners before our firms came together, and since joining I have been struck by the depth of capability, ambition, and client commitment that exists throughout the firm,” Freakley said.
In February, AlixPartners acquired the UK and European arm of Zolfo Cooper in deal reportedly worth $100m (£65m). The deal expanded AlixPartners’ UK and continental European practice and will add 200 senior professionals to its operations across the region. Operating from offices in London, Birmingham, Leeds, Manchester, and Glasgow the arrival of the Zolfo Cooper team will create a regional practice of close to 600 people.
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