Profile: Michael Magee

Michael Magee

Office: London

Mike has over ten year's experience of working with businesses facing 'acutefinancial distress' in both the Public and Private sectors. Mike specialises inadvising and assisting management teams facing adverse pressure from diversestakeholder groups with multiple agendas.

Mike's role typically involves:

• Stabilising organisations in order to create a 'breathing space' for thecompany to address the fundamental operational issues critical to their longterm success.
  
  
• Working alongside management teams to facilitate the production of achallenging yet realistic and deliverable turnaround plan that will obtain thesupport of both internal and external stakeholders.
  
  
• Negotiating with banks and other key stakeholders to build support for theturnaround plan.
  
  

Highlights of Mike's recent experience include:

Public Sector

• Mike has extensive experience of operating within the NHS at both astrategic and operational level. After his initial involvement in 2005 as thelead consultant during the successful turnaround of St Georges Hospital, Mikewas seconded to the Department of Health (DOH) reporting directly to both theFinance and Performance Directors. During this period Mike led the design andspecification for the turnaround work undertaken by the DoH, providing adviceto the Department board and Treasury on the structure and management of over100 financially failing organisations.
  
  
• More recently Mike has provided advice on policy development of the FailureRegime to both Treasury and the Prime Ministers Strategy Unit, and led theTurnaround of the South East Coast SHA, where 93% of savings and £130m ofrecurrent savings were made within 11 organisations.
  
  
• Mike led the recent work at Nottingham University Hospital, one of the UK'slargest Trusts, where PwC advised on the operational improvements andrestructuring opportunities for this recently merged organisation.
  
  
• Mike is invited to speak publicly on Turnaround in the NHS by the HSJ, TheCNO National conference, HFMA and CIPFA.
  
  

Private Sector

• Successfully re-negotiating the financing for a £1bn turnover quotedRetailer. Mike led the team that developed the operational turnaround plan forthe UK business resulting in significant reduction in the cost base of thebusiness and improvement in the quality of customer service.
  
  
• Advised the Plc board of a significant manufacturing and industrialservices business on the restructuring and refinancing of their operations.This involved the separation and disposal of the loss making manufacturingbusiness and ring fencing of the Industrial Services business from a long tailAsbestos liability.
  
  

Principal recent industry sector experience:

• Healthcare
• Retail
• Industrial services / manufacturing