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Press Release  |  06/12/2023  |  Business Wire

Accordion Welcomes Andrew Hede as President of Turnaround & Restructuring Practice

Andrew Hede, President of Accordion’s
Turnaround and Restructuring Practice

NEW YORK – June 12, 2023 – Accordion, the private equity-focused financial and technology consulting firm, today announced the hiring of Andrew Hede as Senior Managing Director and Head of the Turnaround & Restructuring Practice based in New York. Hede succeeds Jim Weissenborn, who is stepping down as part of a long-planned transition after three years in the role.

Hede is an accomplished executive who brings more than 25 years of financial and operational transformation and restructuring experience to Accordion, with expertise advising clients in numerous formal and out-of-court restructurings. Hede was most recently a Partner at McKinsey, where he led the firm’s U.S.-based corporate restructuring practice. Previous positions also include Senior Managing Director at EY, Managing Director at Alvarez & Marsal, and Director at FTI Consulting.

Andrew’s deep transformation and restructuring experience makes him uniquely qualified to continue Jim’s work and build our Turnaround & Restructuring Practice in the ‘Accordion Way,’” said Nick Leopard, Founder and CEO of Accordion. “He bases his strategic decisions on what’s best for both the client & our firm, and he brings a collaborative approach that’s always been integral to the strength of Accordion. We are thrilled to welcome him to the family.

I am excited to join the tremendous team at Accordion and help us seize the significant opportunity to grow the Turnaround & Restructuring business,” said Hede. He also shared:

The great culture, dedicated team, and the owner’s mentality that Accordion brings to every engagement has the firm well-positioned to help challenged businesses and extend our track record of success – all while creating great opportunities for our people to learn and grow.

Hede specializes in advising companies, creditors, and equity sponsors in distressed and non-distressed situations, with a particular focus on financial and operational reviews, liquidity management, business and asset divestment, performance improvement, recapitalization strategies, and negotiation of reorganization plans.

We’re grateful for the strong partnership we’ve had with Jim,” said Atul Aggarwal, President, Accordion. “Everyone at the firm has felt Jim’s impact as he’s grown our T&R team into the established, dedicated, scalable practice that it is today. We wish him the best in his future endeavors.

Accordion’s Turnaround & Restructuring practice is comprised of seasoned restructuring, reorganization, and turnaround experts. The firm acquired turnaround and restructuring firm Mackinac Partners in 2021.

About Accordion

Accordion is a private equity-focused financial and technology consulting firm. Rooted in a heritage of serving the office of the CFO, Accordion works at the intersection of sponsors and management teams to maximize value. The firm’s services span the entire CFO function – including operational and technical accounting, strategic financial planning and analysis, CFO-related technology, transaction execution, interim leadership, and turnaround & restructuring solutions. Across all of Accordion’s services, clients are supported by deep expertise in data & analytics, CFO-specific technology and finance-led transformations. Accordion is headquartered in New York with eleven offices around the globe.

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