Out of the Ashes (PDF)

Take a management journey to the heart of the restructuring of SN
Brussels Airlines, sharing the dos and don'ts of
Jean-Frédéric Mognetti's three years of hands-on
experience as restructuring catalyst to the company. In 2002 SN
rose out of the ashes of Belgian airline SABENA, witnessing a
remarkable turnaround and returning to continuing profits as early
as the second year of operations, even going on to acquire Virgin
Express in 2005. This was achieved with a modest equity investment
of EUR150 million, 12 times less than the cash that Swiss
International Airlines, SN's former sister company, burned
through in the same conditions.

As well as describing the actions of both the architects and the
doers of this startling achievement, Mognetti broadens the
management scope of each step of his corporate transformation
proposal with the help of a panel of seven CEOs and chairmen.
Together, as if in a virtual board meeting, they outline which
management lessons to bear in mind to remain on a healthy growth
track and avoid a turnaround being no more than a remission.

The virtual board members are :

Richard Lapthorne - Chairman of Cable and Wireless plc
Sébastien Bazin - CEO Colony Capital Europe

José Zurstrassen - Founder & CEO Skynet and
Keytrade Bank

Pierre Henry - CEO Sodexho Pass International

Arthur Lok Jack - Chairman Guardian Insurance Holdings Ltd
and Neal & Massy Holdings Ltd

Magnus Welander - CEO Envirotainer

Bernard Charles - CEO Dassault Systèmes

"This book is fascinating and valuable because it deals
with an issue few others touch on, namely how to resurrect a
company which has collapsed. This is a must read book for anyone
interested in company restructuring whether in the airline or other
industries."

Professor Rigas Doganis, former Chairman/CEO of Olympic Airways
and author of "The Airline Business"

"Corporate restructuring is not normally a challenge that
managers or employees have to meet. In Out of the Ashes,
Jean-Frédéric Mognetti gives us a broad approach and
tools to handle such a stressful event, based on his unique blend
of academic insight and consulting expertise. Mognetti has
skilfully brought into play the experience of seven CEOs and
Chairmen who talk about their experience of restructuring, so the
book contains a truly grounded set of insights."

Richard Gillingwater, Dean, Cass Business School, City of
London

Former MBA Director at the Paris EAP-ESCP Business School and
Professor at HEC, Jean-Frédéric Mognetti is a
well-respected academic and consultant who has helped organisations
across the world to achieve sustainable turnarounds and to grow
organically. Mognetti is in high demand for his hands-on strategic
expertise and his no-nonsense advice. An active consultant to CEOs
and boards, he has blue-chip clients such as Sodexho, DHL, Xerox
and Orange as well as fast growing companies. He is the author of
the book Organic Growth, published by Wiley in 2002.