Alex Sorokin is a Senior Managing Director at Ankura with over 30 years of experience as Chief Executive Officer, Chief Restructuring Officer, and advisor in business improvement, turnaround, and restructuring situations. Alex has worked in the US and internationally, including in Europe, Russia, and China and assisted more than 50 companies and their stakeholders, ranging from startups to multibillion-dollar companies in sales revenue, across many industries. He is based in New York.
Alex’s professional experience includes:
- CEO and Board Member of GRT, Inc. – information technology: Recently awarded Raytheon’s EPIC award for supplier excellence relating to its IT services provided to the Department of Defense, which are used to operate and maintain surveillance and security networks around US bases and key installations in the Middle East and elsewhere.
- CEO and Board Member of Cella, Ltd. – developer of solid hydrogen technology: Collaborated with major international aerospace companies for developing fuel cell-based systems for on-board electrical power, higher energy power systems for UAV’s, and radiation shielding applications.
- CEO of Ener1, Inc. – lithium-ion battery manufacturer and fuel cell company: Led operational improvement and business reorganization, with financial restructuring completed four months after his hiring.
- CEO of Medical Staffing Network, Inc. – temporary nurses and other professionals: Led operational improvement and business reorganization, replacing management after completion of debt restructuring.
- CEO of Vertis Communications, Inc. – print media, direct mail: Replaced management, stabilized business during 2008/2009 economic collapse and prevented financial default, and led recovery following exit from Chapter 11.
- CEO and Board Member of IWP, plc – global fast-moving consumer goods company with retail operations: Appointed CEO after financial reorganization was completed. Developed and executed strategy and plan for creating value for hedge fund owners, which included revised manufacturing operations, a new mass market “Sephora” concept, and disposition of nonstrategic businesses.
- CEO and Chairman of TuneUp Masters, Inc. – automotive services: Appointed CEO after financial reorganization was completed. Cleaned up and resolved major environmental issues, improved performance, and sold the business to private equity investors.
- CEO of Quantegy, Inc. – high-tech recording media manufacturer: Appointed CEO during financial restructuring. Improved operations and developed a business plan as a basis for restructuring.
- CEO of Geonex, Inc. – mapping services with US and international governmental agencies: Appointed CEO to improve business operations and lead the financial reorganization in Chapter 11.
- CEO and Chairman of Mark III – automotive vehicle converter: Appointed CEO after financial restructuring to improve business operations.
- CEO and Chairman of Innovative Home Products – consumer products: Appointed CEO to improve operations of startup business.
- CRO of Ground Round – restaurants: Managed the company and completed a sale to new investors.
- Recent CRO for a provider of services to the hospitality industry. Assisted with managing liquidity improvement programs, claims and completing financial restructuring.
- Recent financial and operational advisor to a publicly traded apparel company. Assisted with financial planning and developing profit improvement programs.
Other significant assignments by industry that involved stabilizing the business, improving profitability, financial restructuring, and/or sale of assets include:
- Agriculture, Mining, Oil and Gas: Agri-Till, Gardinier, Mulberry, Placid Oil
- Apparel: Cotler, Crystal Brands, Russ Togs, Stone Elkay
- Auto and Transportation: Evans Transportation, Henleys/Blue Bird, Jiffy Auto Rental
- Consumer: Aurora Foods, Case Logic, Miller Harness, Recoton, Superior Toy, Towle, Trendmasters, Waterford Wedgwood
- Healthcare: Church Street Health
- Manufacturing: Art Steel, Autoroll, Black Clawson, Hysan, Information Displays, Pacamor, United Chem Com, Wornick
- Real Estate: FD Rich, LJ Hooker
- Retail: Clappers, Cumberland Farms, Federated Department Stores, TruServe/TruValue
- Services: Baker Communications, Gate Gourmet, Marsh & McLennan, Prime Motor Inns, Pryor Resources
- Steel: Rouge Industries
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