Alvarez & Marsal hires managing director

Schuyt has around 20 years of turnaround experience, most recently as CRO and CFO of Saab Automobile, where he implemented a performance improvement programme, reduced headcount and completed refinancing initiatives totalling nearly €200m. Saab filed for bankruptcy in 2011, following disagreement over intellectual property between General Motors and prospective Chinese buyers.

Just Spee, head of Alvarez & Marsal's Benelux restructuring operations, said the current economic climate has created demand for specialist turnaround skills, which he says a majority of managers lack. He believes this holds particularly true in the Benelux region, where companies are "underserved by experienced advisers with the operational know-how across a range of industries", and sees the recruitment of Schuyt as a response to this situation.

Schuyt started his career at the Amsterdam office of Booz & Company, after graduating with a law degree from Universiteit Leiden in 1986. He took an MBA at the Tuck School of Business at Dartmouth, US, between 1988 and 1990 and was promoted to partner in 1999. Schuyt then served as co-head of the global communications, media and technology practice from 2003 until his departure in 2005.

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