Profile: Richard Boys-Stones

Richard Boys-Stones

Richard Boys-Stones

Office: London

Richard has specialised in providing turnaround and restructuring servicesto underperforming businesses in the public and private sectors for over 20years. He has extensive experience in working with stakeholders in developingand implementing constructive, realistic and commercial solutions forunderperforming organisations by understanding and managing differentstakeholder agendas.

Highlights of Richard's experience include:

  • Richard has led teams at a number of NHS Trusts and PCT's. Richard hassuccessfully liaised with key stakeholders and worked within the organisationto formulate turnaround plans to reverse the underlying deficits. The plans,which have been given overwhelming support by both internal and externalstakeholders, have been successfully implemented.

  • Richard has led teams that have stabilised and subsequently re-financedlisted, PE backed and privately owned companies facing financialpressure.

  • Richard led the firm's high profile investigation into establishing thefinancial position of the Dome. Subsequently he provided substantialimplementation support to allow the orderly wind-down and smooth hand-over ofthe Dome.

  • Richard led a multi-disciplined team from PwC, including financial,property, operations, sales and marketing and corporate finance experts thatimplemented a complete value recovery strategy at a family-controlled paper andcorrugated box maker. The turnaround initially involved stabilisation, cashconservation and accelerated cost reductions leading to bank support for alonger term turnaround strategy. This led to the introduction of an experiencedturnaround director, a rescue rights issue, business improvements and theultimate disposal of the business to an overseas buyer to the satisfaction ofthe stakeholders.

  • Richard was appointed to implement a value realisation programme in one ofthe UK's leading store retailing groups involving some 500 outlets. Thisinvolved a comprehensive strategic review of each of the brands and thedevelopment and implementation of recovery plans to realise value for theshareholders. These plans involved the piecemeal disposal of five brands andthe orderly exit from the underlying infrastructure over an 18 month period.The end result was substantially in excess of shareholders expectations.

  • Richard led the branch rationalisation programme of a Swiss retailerfollowing its acquisition by a private equity fund. This involved planning andimplementing a store closure programme in Switzerland, France, Germany, Hollandand the UK over a nine month period.

Principal industry sector experience:

Richard leads the retail specialism for the firm's Business RecoveryServices practice in the UK and he has been involved in rebuilding value in asignificant number of underperforming retail situations. This involves acomprehensive understanding of the issues currently facing retailers and thestrategies available to them to create value for stakeholders.