A Chief Restructuring Officer (CRO) is a senior officer of a company given broad powers to renegotiate all aspects of a company's finances to deal with an impending bankruptcy or to restructure a company following a bankruptcy filing. The CRO acts solely in the interest of the company and its stakeholders, serving as an honest broker to quickly instill trust and confidence.

The use of CROs has been increasing in popularity since the 1990s, and they are sometimes seen as an alternative to using a trustee in bankruptcy in a reorganization bankruptcy. CROs are sometimes compared to "turnaround" consultants, although the CRO differs from a turnaround consultant in that the CRO is an official of the company and has executive power.

The role of a CRO is approximately four decades old, and they are now ubiquitous in the restructuring community. A CRO is a member of the senior management team and typically reports to the CEO or directly to the Board of Directors.

The CRO's role is interim, and if they can implement the restructuring programs quickly, their life span in any one job could be as short as a year or up to three years at the outside if it also encompasses an operational transformation. The company may bring in a CRO when it has insufficient management bandwidth, and restructuring situations are complex, time-consuming, and high pressure.

A professional restructuring approach requires strong, dedicated leadership – experienced executives familiar with restructuring processes and routines and ultimately aiming to bring about successful processes and results. A CRO's roles and responsibilities are case-specific, and they can be broad or narrow and include powers that are extensive or limited.