DETROIT, MI--(Marketwire - June 25, 2010) - The Boston Consulting Group (BCG) has received four awards for its work in advising the U.S. Treasury Department on last year's Chapter 11 reorganization of General Motors and Chrysler. The awards were announced late last week at the Global M&A Network's Turnaround Atlas Awards gala in Chicago.
BCG, which was the sole management consulting firm to advise the Presidential Task Force on the Auto Industry, won for "Turnaround Consulting Firm of the Year (Large Markets/Global)" and "Turnaround Consultant of the Year (Large Markets)," awarded to Xavier Mosquet, a senior partner who heads BCG's Detroit office and leads the firm's global Automotive practice. It shared in the awards for "Chapter 11 Reorganization of the Year ($5 billion plus)" for its GM work and "Special Situation M&A Deal of the Year ($500 million plus)" for its work on the reorganization and sale of Chrysler to Fiat.
"I am very honored to receive these Turnaround Atlas Awards," said Mosquet, who attended the June 17 gala at the Allerton Hotel with other BCG executives. "I share them with the BCG team that worked intensely on the GM and Chrysler turnarounds and with the other award recipients that have been such great partners. I want to recognize Steve Rattner, Ron Bloom, and the entire Presidential Task Force on the Auto Industry for their dedication and the unique opportunity they gave us to make a difference and save thousands of jobs. This is a critical element of most turnarounds and we should thank them for what they have done."
The Turnaround Atlas Awards recognize excellence in assignments and deals completed from the restructuring, reorganization, and turnaround communities worldwide. They are part of the M&A Atlas Awards global brand.
BCG's winning of the Turnaround Atlas Awards follows similar success at the M&A Advisor's annual Turnaround Awards gala, held in March in Palm Beach, FL. At that event, BCG received awards for "Chapter 11 Reorganization of the Year ($100 million and above)" and for best turnaround in the "Industrial Manufacturing/Distribution" sector.
For more information, please contact Eric Gregoire at +1 617 850 3783 or gregoire.eric@bcg.com.
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