Laurentian University has selected Deloitte as the consultant to lead its operational transformation.
The university is obligated to hire two third-party consultants under the terms of its plan of arrangement following its exit from insolvency under the Companies’ Creditors Arrangement Act (or CCAA) last year.
One of those consultants will lead a comprehensive operational restructuring of the university, while the other consultant will assist with the development of a new strategic plan for Laurentian.
The consultant who will be leading the development of the strategic plan has yet to be announced by Laurentian.
A request for proposals was put out for the hiring of both of these consultants.
A press release issued by Laurentian May 1 said Deloitte provides expertise in supporting organizations through transformational restructuring and significant experience working with both public and private entities.
“We are pleased to be able to make this announcement as it signals an important milestone in the University’s renewal,” said Laurentian interim president Sheila Embleton.
“Choosing the right partner to support the University through this process is key to ensuring a successful transformation.”
The first step of the project will see a detailed Transformation Plan developed through discussion and collaboration with the University’s Transformation Consulting Group, campus leaders, and members of the Laurentian community.
The transformation plan, which is a requirement of the court-approved Amended Plan of Compromise and Arrangement, will consider recommendations provided by Ontario’s Auditor General, a report put out by consultants Nous during the CCAA, and suggestions generated within the Laurentian community.
The plan will include: overall goals of the transformation, priorities, deliverables, sequencing of projects, a timeline for implementation, and required resources.
The work to develop the Transformation Plan will begin immediately and is slated to be completed by fall 2023.