Our Heritage & Core Values
In 1981, Jay Alix thought there must be a better way to save the assets, jobs, and values inherent in good companies caught in hard times.
That idea gave birth to a new industry: corporate turnaround and restructuring. The firm he started pioneered a series of innovative concepts and practices that are now used and recognized globally, including:
- ¬The role of the Chief Restructuring Officer (CRO)
- ¬Turnaround teams, which leverage the client’s own people and thereby inculcate the turnaround tools
- ¬Success fees, which align incentives to the success of the engagement
In the 36 years since, AlixPartners has expanded our focus to apply our when it really matters mindset, honed in urgent situations, to the high-level, high-stakes matters that materially affect the future of organizations. Today, we partner with management of both healthy and challenged companies, across more than 20 industries and in more than 60 countries around the world.
We have built a legacy of pursuing the highest standards of excellence in all areas of our business. We have achieved this by remaining focused on our clients and our people – and by adhering to our Core Values of Commitment, Professionalism, Teamwork, Common Sense, Personal Respect, and Communication.
Jay Alix, Founder
Since founding AlixPartners in 1981, Jay has been recognized for his passion for setting visions, developing strategies, and designing high-impact performance improvement and turnaround strategies and processes. He has a relentless focus on building businesses, establishing priorities, managing time, and achieving actual implementation of his ideas, vision, and strategies. Jay has worked across a broad range of industries and sectors with a significant focus in the automotive industry, where he has personally led many corporate restructurings and turnarounds as well as other critical projects at OEMs and major suppliers. He has also been a well-regarded industry speaker and commentator.
Sought out by corporate directors and executive management, Jay has served as CEO, COO, and CFO and has introduced, developed, and served in the roles of Chief Turnaround Officer (CTO) and Chief Restructuring Officer (CRO) for a variety of companies undergoing significant change. In addition, he has served as an advisor to major lenders, bondholders, trade creditors, and shareholders as well as to city and federal government agencies—and has assisted these various entities in maximizing the value and recoveries from distressed companies. Jay has led some of the largest and most complex out-of-court restructurings, turnarounds, and performance improvement programs, focusing on the speed of completion by minimizing litigation and achieving results and success through building consensus.
Jay served on a pro bono basis as a strategic advisor to various Japanese government agencies and officials as the nation of Japan developed its strategy and initiatives for corporate revitalization, restructuring, and turnarounds. He also played a key role helping the Bank of Japan (BOJ) and the Ministry of Economy, Trade and Industry (METI), as well as other branches of government and industry, establish the turnaround industry in Japan as the nation worked to revitalize its economy and restructure its corporate base after more than 10 years of national recession and deflation. Jay’s use of the term “corporate sensei,” which cast the idea of saving a failing company in a more favorable light, was adopted by the corporate turnaround industry in Japan and expanded the existing lexicon.
Following Jay’s vision and strategy to lead the restructuring industry, AlixPartners has played a key role in leading many of the major corporate restructurings of the last two decades, including General Motors, WorldCom, Enron, Dana Corporation, Calpine, and Kmart Corporation. The firm also serves as a confidential advisor to many leading U.S., European, and Asian companies that seek to solve urgent and high-impact issues that inhibit financial performance.
President Clinton appointed Jay to the National Bankruptcy Review Commission, which was established by Congress and charged with making proposals to revise the nation’s bankruptcy laws. He was the only businessperson and non-lawyer serving on the nine-member commission. Additionally, Jay has been recognized as an expert in courts throughout the U.S., as well as by Japan’s legal scholars and government leaders.
Jay also served on a pro bono basis as a strategic advisor to Dennis Archer during his first term as Mayor of Detroit, helping to plan and lead the Mayor’s 400-member Transition Team, as well as the restructuring and turnaround of the city’s finances and operations.
Publications and lecturing
In addition to his leadership roles and turnaround activities, Jay has lectured widely, written many articles on turnaround management, co-authored two books on the financial issues facing companies in reorganization, and given many speeches on companies in transition, debt negotiations, and the corporate revitalization process. He has taught classes to thousands, and has been invited to lecture at the Harvard Business School, the University of Michigan Law School, and the Federal Judicial Center in Washington, DC. In addition, Jay was sponsored to teach U.S. Attorneys and U.S. Trustees by the U.S. Department of Justice.
In 2008, Jay was honored as one of the inaugural inductees for the Turnaround Management Association Hall of Fame for his leading role in establishing and building the turnaround industry. Jay was awarded Wayne State University’s 2005 Michigan Executive of the Year award. He received the Harvey R. Miller Outstanding Achievement Award for Service to the Restructuring Industry in November 2004. The Japanese Association for Turnaround Professionals honored him as its inaugural Foreign Member in April 2003. The Turnaround Management Association presented Jay with the 2002 Chairman’s Award in recognition of his “pioneering leadership role” in helping to create and build the turnaround industry, including his role in creating and promoting the industry’s lexicon, most notably combining the words “turn” and “around” to create the noun “turnaround.”
Education & certifications
Jay’s experience includes designations as a Certified Public Accountant (CPA), a Certified Turnaround Professional (CTP), a Certified Fraud Examiner (CFE), and a Certified Insolvency & Reorganization Accountant (CIRA). In addition, he is a Fellow in the American College of Bankruptcy. He has served as a court-appointed fiduciary including serving as an Operating Trustee as well as an Examiner in complex Chapter 11 cases and fraud investigations.
Jay completed the YPO/Advanced Management Program at the Harvard Business School, and holds an MBA in Accounting from Rutgers University and a Bachelor’s Degree in Finance from the Wharton School at the University of Pennsylvania. He began his career as a CPA with Price Waterhouse in New York.
Since 2006, Jay has focused on pro bono and creative activities. Using his skills and philanthropy to advise Mayo Clinic’s leadership team, it is now ranked #1 in U.S. News & World Report hospital rankings. He serves as co-leader of the Mayo Global Initiative, which has assisted Mayo’s development efforts in raising $3 billion. Jay enjoys many other projects including producing award-winning documentary films, four-time Tony-winning Broadway musicals and plays, and Grammy-nominated music. He has actively helped the Detroit Public School System and the Norman Rockwell Museum advance their missions. Jay has two accomplished adult daughters and travels globally for business and pleasure.