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  • March 2006 (Revised December 2013)
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Hexcel Turnaround — 2001 (A)

By: Paul W. Marshall, James Quinn and Reed Martin
  • Format:Print
  • | Language:English
  • | Pages:22
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Abstract

Hexcel's new CEO is faced with deciding how to "take out" $60 million in cash costs in fiscal 2002, as two of the company's end markets—electronics and commercial aerospace—are expected to decline precipitously. Options include closing plants, exiting a business, or undertaking a major headcount reduction. Includes a description of Hexcel's private equity relationship with Goldman Sach's Capital Partners and presents the financial challenges of renegotiating bank lending covenants and managing maturing debt. Focuses on selecting a turnaround approach from the point of view of a general manager (the CEO).

Keywords

Private Equity; Negotiation; Management Teams; Organizational Change and Adaptation; Strategy; Change Management; Crisis Management; Borrowing and Debt; Aerospace Industry; Electronics Industry; United States

Citation

Marshall, Paul W., James Quinn, and Reed Martin. "Hexcel Turnaround — 2001 (A)." Harvard Business School Case 806-099, March 2006. (Revised December 2013.)
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About The Author

Paul W. Marshall

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Related Work

    • June 2013
    • Faculty Research

    Hexcel Turnaround—2001 (Video Supplement)

    • March 2006 (Revised December 2013)
    • Faculty Research

    Hexcel Turnaround — 2001 (A)

    By: Paul W. Marshall, James Quinn and Reed Martin
Related Work
  • Hexcel Turnaround—2001 (Video Supplement) 
  • Hexcel Turnaround — 2001 (A) By: Paul W. Marshall, James Quinn and Reed Martin
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