Journal of
Corporate
Renewal
Sept
2016
IN MEMORIAM
Former TMA Global President and Chairman Peter L. Tourtellot, CTP, a tireless advocate and
leading voice for the development of
high professional standards for the
turnaround and restructuring industry,
died in a Greensboro, North Carolina,
hospital on July 16. He was 78.
A founding board member of the TMA
Carolinas Chapter and co-founder
of Anderson, Bauman, Tourtellot
Vos & Co., a Greensboro turnaround
firm, Tourtellot served as TMA Global
president in 2001 and chairman in
2002. He was a former chairman of the
Association of Certified Turnaround
Professionals (ACTP), a sister
organization that later merged with TMA
Global, and he subsequently chaired
TMA Global’s Certification Oversight
Committee, which assumed many of
the duties previously performed by
ACTP. Tourtellot was also a former
president of the TMA Carolinas Chapter.
“It was a clear love affair between
Peter and TMA,” said Thomas
D. Hays III, 1997 TMA Global
President and 2003 ACTP chair.
In addition, Tourtellot developed the
Cornerstone 15 program in 2003 as part
of TMA’s 15th anniversary celebration
and spearheaded efforts to raise $1.5
million for the board designated
endowment fund to support the
organization’s education initiatives. He
was a force in transitioning much of
the work involved with running TMA
Global from volunteer members to a
professional staff. Hays said Tourtellot
also championed revisions to strengthen
TMA’s Code of Ethics and efforts to
improve CTP education programs.
As chairman of the Editorial Advisory
Board, Tourtellot also had led efforts
to convert the Journal of Corporate
Renewal from a newsletter into a
magazine, which debuted in April 1998.
“He was always plugged into every
strategic change in some way, shape,
or form,” said John R. Rizzardi, TMA
Global’s 2003 president. “What I
remember most about it was just
how passionate he would get about
issues that he believed in. When he
believed something was going to be
good for TMA, you knew about it.”
One of those causes was the CTP
program. Tourtellot was a passionate
proponent of TMA’s efforts to establish
the CTP designation as a standard
of excellence in the turnaround and
restructuring industry. Edward J. Sanz,
CTP, who worked with Tourtellot at
ABTV, said turnaround professionals who
hadn’t already obtained their CTP were
required to become certified within a
year of joining the firm. Sanz was among
a group of three ABTV professionals
who purchased the firm earlier this
year from Tourtellot and another of its
co-founders, Neal A. Anderson, CTP.
“He was also very attuned to raising
the bar for the profession. He always
envisioned it as going from a band
of consultants to a true profession
with high levels of expectations and
Peter L. Tourtellot, CTP
Champion of TMA, CTP Program
BY EDDY MCNEIL, TMA GLOBAL EDITOR-IN-CHIEF