SOURCE: Ernst & Young

July 15, 2010 10:00 ET

Turnaround CEO Tim Spring Named Ernst & Young Entrepreneur Of The Year® 2010 Award Winner

ISELIN, NJ--(Marketwire - July 15, 2010) -  Tim Spring, former CEO of Marcal Manufacturing, is Ernst & Young's Entrepreneur Of The Year® 2010 Award in the Turnaround category in New Jersey. The award recognizes outstanding entrepreneurs who are building and leading dynamic change to restore health to ailing businesses. Spring was selected from among 40 finalists by an independent panel of judges, and the award was presented at a black tie gala event in Teaneck, NJ last month. The award follows Spring's recognition at the 2010 M&A Advisor Turnaround Awards earlier this year, where he took "Consumer Product Turnaround of the Year" honors.

"With my turnaround work now completed at Marcal, it's gratifying to be recognized by Ernst & Young's panel of judges," said Spring. "I'm looking forward to my next challenge. I plan to continue to work with private equity firms to maximize the value of investments in the consumer products space."

Success steering iconic consumer brands is not new to Spring, having led the performance improvement efforts on Pinnacle Foods' Vlasic® brand, and Reckitt Benckiser's Airwick®, Lysol®, French's,® and RedHot® businesses.

Top private equity firms including Highland Capital, Hicks Muse Tate & Furst, HM Capital, JP Morgan and Brynwood Partners have benefited from Spring's operating skills for their portfolio companies. "Tim is an outstanding executive in the branded products space. He has a passion for the businesses he manages and works with a sense of urgency necessary in a leveraged capital structure," says Andrew Rosen, a respected CPG private equity investor at HM Capital, specializing in food industry investments. "Tim has an incredible ability to see the possibilities for a brand or a business, and the broad based marketing and operational skills to lead an organization to achieve his vision."

Contact Information

    Stephen Gatto
    Ernst & Young
    (908) 881-4748