James B. Shein
James B. Shein

Clinical Professor of Strategy

Print Overview

Professor James B. Shein is Clinical Professor of Strategy and also is part of Kellogg’s Larry and Carol Levy Institute for Entrepreneurial Practice. He teaches Managing Turnarounds (MGMT 934) and Entrepreneurship and New Venture Formulation (ENTR 462). Professor Shein is also counsel at McDermott, Will & Emery with primary areas of practice including corporate financial and operating restructurings, business startups and acquisitions, and fiduciary duties of officers and directors.

Previously, Professor Shein spent four years as the president and chief executive officer of R.C. Manufacturing and ten years prior to that as president and chief executive officer of Northbrook Corporation.

Professor Shein has chaired programs at the Federal Reserve Bank of Chicago on the outlook for the troubled steel, textile and plastics industries. Professor Shein conducts seminars and workshops on commercial loan structuring and workouts for the Bank Lending Institute and the Banking Law Institute. His work with corporate director led to his article, “Trying to Match SOX: Dealing with New Challenges and Risks Facing Directors,” published in The Journal of Private Equity, 2005.

A frequent lecturer and author on corporate renewal, he has been highlighted on National Public Radio programs as an authority on restructuring and downsizing. He was elected by his peers as Vice President of the Turnaround Management Association, an international organization of 7,000 turnaround, bankruptcy, and restructuring professionals, and is on the International Board of Directors.

Professor Shein graduated with an engineering degree from Purdue University and then earned an M.B.A. from Indiana University. He also holds a doctoral degree in organizational behavior from Indiana University. He later received his juris doctor degree, cum laude, from Loyola University of Chicago, where he was lead articles editor of the Law Journal.

Areas of Expertise
Corporate Governance
Distressed Investing
Turnaround Management
Venture Capital and Private Equity

Print Vita
JD, 1997, Loyola University of Chicago School of Law
PhD, 1968, Indiana University
MBA, 1966, Indiana University
BS, 1964, Engineering, Purdue University

Academic Positions
Clinical Professor of Management & Strategy, Kellogg School of Management, Northwestern University, 2005-present
Adjunct Professor of Management & Strategy, Kellogg School of Management, Northwestern University, 2002-2005
Adjunct Professor, Loyola University of Chicago, 1994-2001

Other Professional Experience
President, J.S. Associates, 1994-present
Counsel, McDermott, Will, & Emery, 1997-2009
President, R.C. Manufacturing, Inc., 1990-1994
President and CEO, Northbrook Corporation, 1979-1990

Print Research
Research Interests
Corporate renewal, turnaround management, legal issues in corporate finance, restructurings, start-ups and acquisitions, fiduciary duties of officers and director

Shein, James B. 2011. You Bought the Company: Now What?. The Journal of Corporate Renewal.
Shein, James B. 2005. Trying to Match Sox: Dealing with New Challenges and Risks Facing Directors. Journal of Private Equity. 8(2): 20-27.
Shein, James B. 2011. Reversing the Slide: A Strategic Guide to Turnarounds and Corporate Renewal. Wiley (Jossey-Bass).
Shein, James B. and Scott Kannry. 2012. The Chicago Blackhawks: Greatest Sports Business Turnaround Ever?. Case 5-112-007 (KEL671).
Shein, James B. and Evan Meagher. 2008. Winn-Dixie Stores in 2005 (A): Cleanup on Aisle 11. Case 5-408-751(A) (KEL415).
Shein, James B., Rebecca Frazzano and Evan Meagher. 2010. A Tale of Two Turnarounds at EDS: The Jordan Rules. Case 5-409-754 (KEL425).
Shein, James B., Tim Joyce and Brandon Cornuke. 2010. Dry Goods. Case 5-210-263 (KEL509).
Shein, James B. and Judith Crown. 2010. Atari: Between a Rock and a Hard Place. Case 5-210-260 (KEL539).
Shein, James B., Robert Anstey and Nathan Lang. 2010. Elan Corporation Turnaround. Case 5-210-262 (KEL507).
Shein, James B. and Loredana Yamada. 2008. Sara Lee: A Tale of Another Turnaround. Case 5-108-009 (KEL353).
Shein, James B., Rebecca Frazzano and Evan Meagher. 2010. Solo Cup in 2007: Dollars in the Details. Case 5-210-261 (KEL505).
Shein, James B.. 2014. Corporate Governance at Martha Stewart Living Omnimedia: Not "A Good Thing". Case 5-413-761 (KEL776).
Shein, James B. and Evan Meagher. 2009. Leading Corporate Renewal: Selim Bassoul at Middleby Corporation. Case 5-209-253 (KEL422).
Shein, James B. and Evan Meagher. 2008. Winn-Dixie Stores in 2005 (B): Cleanup on Aisle 11. Case 5-408-751(B) (KEL416).
Shein, James B.. 2012. At Ford, Turnaround Is Job One. Case 5-211-250 (KEL663).
Shein, James B., Nathan Haines, Matthew Horstmann, Tobias Kaulfuss, Craig Koester, William Koo and Juan Lariz Landin. 2008. Parmalat USA Turnaround. Case 5-208-253 (KEL356).

Print Teaching
Full-Time / Part-Time MBA
Global Governance of Private Companies (KIEI-965-0)

Formerly ENTR-965-0

Governance issues must be addressed by the power centers of all organizations, ranging from startups to mid-market and other non-public companies. Almost all Kellogg graduates will serve as an officer and director of one of these U.S. or foreign organizations during their career.

The aim of this interdisciplinary course is to equip students with the knowledge and skills necessary to handle controversial governance issues which often fall in the intersection of business, law and ethics. Concepts will cover private equity, professional service, and closely held firms, as well as the more stringent laws that exist in other countries. We will debate current issues and proposed regulations that affect directors in the U.S. and internationally to help executives do the right thing and avoid liabilities. Guests will include the heads of private equity, consulting and investment banking firms.

Managing Turnarounds (MGMT-934-0)

This course counts toward the following major: Entrepreneurship & Innovation

This course focuses on how to recognize, analyze and deal with the special problems of organizations facing turnarounds or crises. The course covers a framework that encompasses early warning signals to detect problems, then takes students through basic and advanced turnaround techniques and examines how to return to leadership. The multi-discipline causes and cures for turnarounds, including marketing, finance, strategy and human relations, are discussed. These principles apply to helping many different types of organizations, including early stage companies, mature corporations (or underperforming units of same) and not-for-profit organizations. The use of corporate bankruptcy as a sword or shield is also covered. Cases are assigned to teach how entrepreneurs and leaders of more mature companies have successfully and unsuccessfully dealt with serious problems. Note: This course may not be dropped after the second week of the quarter.