Carve-out Management Office for NXP and STMicroelectronics
“We were provided excellent leadership to a large project office team who successfully managed the coordination of the client’s complex matrix organization to deliver transaction readiness across multiple functions in a large number of countries around the world.”
— David Hewish, Alix Partners
Global PMI Partners led the Carve-out Management Office with the main goal to have the BU’s ready by Day 1, a critical date for bank covenants
- Managed the $1.5 bn carve-out of two wireless BU’s within the short time frame of 11 weeks
- Issue: NXP Semiconductors was about to miss the carve-out deadline, triggering breaches of bank covenants
- Created the project structure to align all internal and external advisers, 25 countries and 14 workstreams
- Established a routine of daily follow-up, weekly reporting, and continuous issue resolution and people management
- Result: Delivered the carve-out four days ahead of schedule
“Christophe (Benelux Partner) demonstrated tenacity, perseverance, operational acumen and strong intellect. The project was emotionally charged and critical to the client’s business, making the people management skills a critical ingredient to the successful outcome.”
— David Hewish, Alix Partners