A certified public accountant, James Castille is the owner of LUMA Capital, LLC in Lafayette, Louisiana. Throughout his career, James Castille has gained experienced as an insurance and business consultant as well as a turnaround specialist in Louisiana.

A turnaround specialist is a professional that works with a company for a brief amount of time, to help them resolve any problems. Typically, a company that hires a turnaround specialist when facing an extreme challenge that needs an outside perspective. A turnaround specialist will usually either replace the CEO as an interim chief executive while a company begins reorganization or will simply consult on a specific project for the short-term. Although a turnaround specialist is technically capable of working in both of these two roles, they typically prefer to stick to one role professionally.

Turnaround specialists can be needed in instances where internal issues are affecting the business, such as neglected human resources, autocratic management, declining business, and mismanaged growth. External factors, such as declining economy, market decline, litigation, labor unrest or increased labor costs, and unfavorable legislation, can also prompt the need to hire turnaround specialists.

Businesses may begin to identify symptoms of potential trouble in the business in a loss of profit, employee dissatisfaction, and loss of members from the Board of Directors. However, it is important to remember that treating the symptoms will not resolve the problem permanently. Turnaround specialists help identify the issues and make real changes to revive failing companies.