Restructuring a company is one of the most challenging leadership undertakings—one that demands not just strong business acumen, but also resilience, empathy, and decisiveness. It requires leaders to make difficult decisions quickly while maintaining transparency and trust within the organization. John Thievon, CEO and Founder of Thievon Consulting, has spent over 30 years guiding healthcare organizations through growth transformations, turnarounds, and market shifts. He understands that true leadership in restructuring isn’t just about cutting costs; it’s about positioning a company for long-term success.
“The key to a successful turnaround is balancing speed with strategy—making swift, informed decisions while keeping your team aligned and engaged,” says Thievon, who emphasizes that successful restructuring hinges on three essential elements: financial clarity, transparent leadership, and building high-performance teams. Without these pillars, even the best restructuring efforts will fall short. Leaders must master each of these areas to ensure a smooth transition and sustainable growth.
Financial Clarity: Understanding Your Capital Position
Effective restructuring begins with a clear understanding of the company’s financial position. Leaders must first assess capital availability and determine whether immediate cost reductions are necessary to sustain the company’s viability. “Too often, companies in distress focus only on the immediate crisis rather than the long-term strategy,” says Thievon. “Understanding your capital position and operational fundamentals allows you to make decisions that not only stabilize the business but also create a foundation for future success.”
Ideally, leaders would walk into a restructuring with a complete picture of the company’s financial health from day one. However, that is often not the case. Thievon emphasizes that if this information is not readily available, obtaining it must be a leader’s top priority. “You can’t make strategic decisions without a clear grasp of where the company stands financially,” he explains. “Without this clarity, you’re operating in the dark.”
Beyond financials, leadership must evaluate operational fundamentals—such as accounts receivable, accounts payable, and compliance. These often-overlooked areas can present quick wins that immediately improve margins and cash flow. A thorough assessment of business segments and product lines is also essential, as leaders need to understand how each contributes to profitability and the overall vision.
Transparent Leadership: Communicating with Clarity and Decisiveness
One of the most critical components of successful restructuring is communication. Thievon stresses the importance of addressing the workforce with honesty and empathy from day one. “Employees are smart; they know you are here for a reason and might be on edge,” he explains. “Being humble, considerate, and understanding is crucial—but hesitation in decision-making serves no one, including the employees.”
Leaders must act decisively when making personnel changes, ensuring the remaining team understands the company’s strategic direction. Clarity and direct communication help employees feel secure in their roles, fostering an environment where they are motivated to contribute to the company’s success rather than feeling like they are merely surviving a transition.
Building High-Performance Teams for Long-Term Success
Execution excellence in restructuring is not just about cutting costs—it’s about positioning the company for long-term sustainability. This requires building and developing high-performance teams. Thievon notes that often, businesses have untapped internal talent—employees with high potential who have not been properly developed. “Sometimes, the best leaders are already within your organization; they just haven’t been given the right tools or opportunities to grow,” he says. Identifying these individuals and providing the right growth opportunities can create a foundation for strong leadership within the company.
However, there are times when organizations must look externally for critical skill sets that are missing internally. “You can’t build a winning team without the right players,” Thievon explains. “If key competencies are missing, it’s imperative to bring in the right talent to bridge those gaps.” He has seen firsthand the difference that hiring the right talent makes in driving sustainable business performance. By prioritizing strategic talent acquisition and internal development, leaders can create teams that not only execute the company’s vision but also drive continuous improvement and innovation.
Leadership That Drives Execution Excellence
Success in restructuring and healthcare leadership comes down to clear strategy, operational discipline, and the right people. “If you don’t have a firm grip on these three areas, even the best-laid plans won’t get you where you need to be,” Thievon states. His track record of guiding companies to profitability—whether through financial restructuring, operational streamlining, or talent optimization—demonstrates the power of execution-focused leadership.
For business leaders navigating restructuring or seeking transformational growth, Thievon’s expertise has helped numerous organizations navigate complex transitions and emerge stronger. “Restructuring isn’t just about cutting costs; it’s about setting the company up to thrive long after the changes are made,” he explains. When done correctly, restructuring is not just about survival—it’s about positioning a company for enduring success.
For more insights and to learn more about John Thievon’s work, visit his LinkedIn or his website.
