John Boken
New York - Senior Managing Director
- Phone
- +1 213 234 3802
- jboken@zolfocooper.com
John is a senior managing director with more than 20 years of corporate restructuring experience. He has led over 50 restructuring projects in a wide variety of industries, including homebuilding, industrial construction, energy, manufacturing, retail and agriculture. John has developed expertise in devising business turnaround strategies, formulating debt restructuring plans and divesting of unprofitable and/or non-strategic operations and assets. He is particularly adept at designing creative solutions to the complex operating and capital structure problems that exist in large restructuring cases. John’s experience includes serving in senior executive capacities for client companies.
Professional Experience
Recently, John concluded a 19-month assignment as chief restructuring officer of Flying J Inc., an $18 billion (revenue) integrated oil and gas conglomerate. At the time of its Chapter 11 filing, Flying J employed over 15,000 people and was one of the largest private companies in the U.S. As CRO, John designed and led an aggressive, multi-pronged turnaround and restructuring strategy with a focus on improving operating performance, shutting down unprofitable operations and disposing of non-core assets. The successful restructuring resulted in approximately $1.8 billion in debt and creditor claims being satisfied in full, in cash, with interest. Furthermore, pre-petition Flying J equity holders retained their interest in the remaining enterprise, with that equity valued at over $800 million. John's leadership of the Flying J assignment was recognized by M&A Advisor as both Turnaround of the Year (large market category) and Divestiture of the Year in 2011.
In 2010, John oversaw a challenging out-of-court restructuring for one of the largest general contractors in the U.S. focused on military construction. The case initially required a significant operational restructuring and concluded with the successful sale of the majority of the company's assets to another construction operation.
Currently, John serves as CEO and CRO for homebuilder TOUSA, Inc. He has been an executive at TOUSA since the company's Chapter 11 filing in 2008.
In 2008, John led a team in an out-of-court turnaround and restructuring assignment for one of the nation's leading industrial construction companies, with over $2 billion in annual revenues. Prior to that, John served as chief restructuring officer of Collins & Aikman, where he led the $4 billion company through a lengthy and complex Chapter 11 process. He previously served as president and COO of NRG Energy throughout its Chapter 11 proceeding, which was honored by the Turnaround Management Association as the 2004 Mega Company Turnaround of the Year. He also served as CEO of Entegra Power Group upon its emergence from bankruptcy. Other notable assignments include Mirant, Southern California Edison Company, Fleetwood Enterprises, Sun Healthcare Group, AgriBioTech and Riviera Hotel and Casino.
John manages the activities of Zolfo Cooper in the western United States and offices in both Los Angeles and New York.
Education, Certification & Professional Affiliations
- B.S. in commerce and finance from the University of Santa Clara
- Certified Public Accountant (inactive)
- Certified Insolvency and Restructuring Advisor
Social Networks