Chief Restructuring Officer
Chief restructuring officer. Clarity under time pressure.
When liquidity runs short and banks want to see a plan, every week counts. As chief restructuring officer for a fixed term, Steffen Herr sorts out the situation, puts immediate measures in place and is the banks' fixed point of contact.
When a CRO comes in
Liquidity is running short
The forecast shows a gap in the coming months. A reliable liquidity plan and measures that work fast are needed.
Banks ask for a plan
Lenders expect a restructuring concept and an accountable person who delivers it and reports regularly.
Costs get out of hand
Revenue and costs no longer match. Someone has to decide what stays, what changes and what goes.
Management needs relief
Day-to-day business carries on while the restructuring needs full attention. One person cannot carry both at once.
How a restructuring runs
- 01 · Days 1–14
Situation and liquidity
13-week cash flow plan, a full cash review, immediate measures on working capital and spending. First open talks with the lenders.
- 02 · Weeks 3–8
Concept and decisions
Clarify causes, assess measures, plan three years ahead. A decision paper for shareholders and banks.
- 03 · From week 8
Deliver and report
Carry out measures with the managers, track progress, report regularly to banks and shareholders. Hand over once the company is stable again.
What this is based on
- 13 years as board member and managing director, responsible for all business units
- Second board mandate with commercial steering
- Banking experience as financial planner and head of a profit centre with lending business at SEB AG in Stuttgart
- Guided more than 150 business plans with three-year financial planning, including preparation for bank meetings
- Consultant listed with BAFA, the German federal office that funds SME consulting (ID 193982)
Frequently asked questions
What does a chief restructuring officer do?
For a fixed term the CRO owns the restructuring: securing liquidity, deciding and delivering measures, communicating with banks and shareholders. Management can keep running the day-to-day business.
Does a CRO replace management?
No. The CRO works alongside management, often with a board seat or power of attorney for the restructuring. The roles are set out in writing at the start.
How quickly is a CRO available?
Restructurings do not wait. You get a reply within 24 hours and the start is agreed in the first call.
A mandate to fill? An answer within 24 hours.
Availability, terms and fit settled up front. Directly, without detours.
Last updated: 02/10/2026