Al Koch is a Vice Chairman and Managing Director with AlixPartners, an international corporate turnaround and financial advisory firm.
Al is currently the Chairman, President and CEO of Polar Corporation. Polar is a portfolio company of Questor private-equity funds that was acquired in December 2004. Polar is the leading full-service provider of tank trailers, light-duty trailer parts and tank trailer repair and maintenance services in North America. Headquartered in St. Cloud, Minnesota the company operates three distinct, yet complementary operating divisions: Quality Trailer Products, Polar Tank Trailer and Polar Service Centers, with total revenue of about $350 million.
Prior to Polar, Al was the Chairman, interim President and CEO at Champion Enterprises Inc., the world’s largest builder of manufactured homes from June 30, 2003 until July 31, 2004. After joining Champion, Al led a major financial and operational restructuring which saw the Company’s market capitalization nearly triple while operating results improved from a year-to-date loss of $18 million in 2003 to a profit of $9 million for the first six months of 2004. And, the Company’s net debt (long-term debt minus cash) improved from $198 million in 2003 to $100 million at the end of the second quarter.
Before Champion, he served as interim CFO of the Kmart Corporation, the largest retailer in history to file for bankruptcy. In this position, he provided leadership and credibility to the financial functions, led the development of a multi-year operating business plan and drove financial performance in conformity with the plan. Kmart emerged from Chapter 11 in May 2003. Retailer Merchandiser recognized Al and the Kmart executive team as the “Retail Executive of the Year” for their work on the Kmart restructuring.
Al’s other assignments included serving as interim CFO of Oxford Health Plans during a financial and accounting systems failure crisis, leading the effort to stabilize the company’s financial functions, create credible reporting, and help position Oxford to obtain $710 million of new financing that provided the financial strength to assure success of the ensuing operational turnaround.
Al previously served as the Chief Operating Officer of AlixPartners. Under his leadership, the firm quadrupled revenues, tripled its staff of corporate turnaround and litigation consulting professionals, and opened two new offices. He also expanded client services, adding a comprehensive bankruptcy administration practice, an IT turnaround practice, and professionals whose skills focus specifically on helping companies with early intervention to avoid crisis.
Al lends an experienced hand to AlixPartners’ turnaround consulting and financial advisory services. His expertise lies in his ability to evaluate the marketplace, identify trends and provide the leadership, strategic vision and operational expertise that have successfully led clients through unusually complex financial restructuring and capital structure engagements.
Al was formerly a partner with Ernst & Young for 14 years, including 7 years as Managing Partner of the firm’s Detroit office. He is a CPA and won the Sells Gold Medal for attaining the highest scores in the United States in that exam. Al holds a bachelor’s degree in accounting from Elizabethtown College, Elizabethtown, Pennsylvania. He is a Certified Turnaround Professional and a member of the American College of Bankruptcy, the American Bankruptcy Institute, and the American Institute of CPAs.
He is a member of the Tecumseh Products Company (NASDAQ) Board of Directors and its lead director. Al was a Trustee of the Bloomfield Hills Board of Education for eight years and also served as a Trustee and Chairman of the Finance Committee of the Detroit Medical Center as well as in a variety of Board positions at Harper Hospital, Grace Hospital and Detroit Receiving Hospital; the Detroit Medical Center is a major healthcare system in Southeast Michigan.