SOURCE: MorrisAnderson

MorrisAnderson

March 10, 2011 09:05 ET

MorrisAnderson Promotes Howard R. Korenthal to Chief Operating Officer

CHICAGO, IL--(Marketwire - March 10, 2011) - MorrisAnderson announced today that it has promoted Howard R. Korenthal, 56, to the position of chief operating officer (COO), effective immediately. In this role, Korenthal will oversee the operational side of MorrisAnderson which includes consultant scheduling, training, quality control and firm financial management. As COO, Korenthal will continue to consult for and advise clients on turnarounds, workouts, restructurings and liquidations as well as manage MorrisAnderson's operations.

"We chose Howard to take over MorrisAnderson's operational management responsibilities because of his strong leadership and management experience," said Dan Dooley, CEO of MorrisAnderson. "Howard has been instrumental in more than 150 turnaround and restructuring projects, as well as complex Chapter 11 proceedings. He has served in senior management, interim management and consulting roles. This experience will help him successfully integrate into the COO role."

Korenthal joined MorrisAnderson in 2006 as a managing director in its Chicago office and was promoted to principal in 2009. His turnaround experience encompasses multiple industries including plastics, distribution, food processing, metal fabrication and trucking. He has served many clients over the years, including Burr Oak Cemetery, where the bankruptcy court appointed him chief operating officer after the cemetery was shut down for alleged financial irregularities and burial site desecration. As Burr Oak's COO, Korenthal re-opened the cemetery to the public and resumed operations. Under a confirmed plan of reorganization, insurance funds will be set aside for future maintenance of the cemetery as a memorial.

Korenthal has three decades of experience working with distressed and underperforming companies. Prior to joining MorrisAnderson, Korenthal was senior partner at the turnaround and consulting firm of Silverman Korenthal & Co. and managing partner at the turnaround and consulting firm Lake Pointe Partners, both based in Chicago. He was also president and CEO of Connor Sports Flooring Corporation, which was the largest producer of wood sports flooring in the U.S. Korenthal began his career as an audit manager with the Chicago office of Coopers & Lybrand.

Korenthal is a Certified Public Accountant (CPA) and holds a bachelor's degree in accountancy from the University of Illinois at Urbana-Champaign. He is an active member of the Turnaround Management Association, the American Institute of Certified Public Accountants and the Illinois Institute of Certified Accountants.

About MorrisAnderson
Chicago-based MorrisAnderson, which celebrated its 30th anniversary last year, has offices in New York, Atlanta, Milwaukee, Los Angeles, Cleveland, St. Louis, Minneapolis and Toronto. The firm's service offerings include performance improvement, financial advisory, interim management, turnarounds, workouts, litigation support and insolvency services and wind-downs. MorrisAnderson emphasizes hands-on advisory and consulting services for closely held private and public companies.

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