Bill Kosturos
Managing Director
Quick facts
Co-head of the firm's North American Commercial Restructuring practice for the West Region
Member of the firm's Executive Committee for U.S. Restructuring
20+ years of operational experience as an interim manager and financial adviser to both debtors and creditors in and out of Chapter 11 proceedings
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Bill Kosturos is a Managing Director with Alvarez & Marsal in San Francisco and Co-head of the firm's North American Commercial Restructuring practice for the West Region.

He specializes in interim management and advising boards of directors, investment groups, management groups and lenders in a wide range of turnaround, restructuring and reorganization situations. He is a member of the firm's Executive Committee for U.S. Restructuring.

With more than 20 years of operational experience as an interim manager and financial adviser to both debtors and creditors in and out of Chapter 11 proceedings, Mr. Kosturos has been involved in all aspects of the reorganization process, including formulating and evaluating business plans and capital structure, developing turnaround strategies, preparing forecast models and short- and long-term cash plans. He has direct experience in corporate acquisitions, divestitures and refinancing in a diverse set of industry sectors, including retail, consumer brands, financial services and energy.

Mr. Kosturos currently serves as the restructuring adviser to Cengage Learning Inc., where he led the business planning process for their five-year plan, the cost reduction initiatives, the weekly cash-flow model, the Chapter 11 planning process and evaluated the company’s leases and contractual obligations.

Previously, he was the Chief Restructuring Officer for Washington Mutual (WMI), negotiating an approximately $6.5 billion settlement with JPMorgan and the FDIC resulting in a recovery of more than 100 percent for all unsecured creditors and a recovery for equity holders. In addition, Mr. Kosturos stabilized the situation and established a new organization at WMI from the one employee who remained after the seizure of the bank.

Mr. Kosturos was also the Chief Restructuring Officer for Movie Gallery where he led negotiations with their lenders and advisors resulting in a pre-negotiated term sheet allowing the company to emerge from bankruptcy in seven months. In addition, he led the analysis and execution of operational restructuring initiatives and oversaw the team handling the closure of over 1,200 stores.

Mr. Kosturos served as the Chief Restructuring Officer and Chief Executive Officer for The Spiegel Group (which owned Eddie Bauer), overseeing operational restructuring initiatives that led to an estimated $150 million of annual cost savings by consolidating and relocating distribution and customer contact centers, closing underperforming stores, renegotiating leases and major contracts and reducing working capital levels and headcount.

Other notable advisory or management roles include: Pacific Gas & Electric Company, Tri-Valley Growers, Levi Strauss, Webvan Group, Sunshine Biscuits, Clothestime, Hexcel Corp. and Spreckels Industries.

Mr. Kosturos earned a bachelor's degree in accounting from the University of San Francisco. He is a member of the Turnaround Management Association (TMA) and the American Bankruptcy Institute (ABI).