Decisive senior executive with financial and operational experience, recognized as a successful change agent with a strong record of achievement. Extensive experience in transportation and manufacturing environments for multi-national, multi-site, publicly held firms.
Specialties: Operations, Sourcing & Procurement, Lean Six Sigma, Financial Planning & Analysis, Shared Services Operations, Accounting, Information Technology, Supply Chain Management, Human Resources, and distressed situations
Senior Vice President, Strategic Business Transformation @ Strategic Business Transformation combines several groups focused on improving performance and profits: a deployment of 60 Lean Six Sigma experts (Performance Excellence, or PEx), a seven member indirect Sourcing & Procurement team, and a seven member team (Transformation 2015) recently challenged with improving our global shared services functions. I report to the CFO.
• My department’s goal is to improve EBITDA by an incremental $50 million annually, which has been exceeded in each of the past five years.
Since we initiated PEx, we have run over 3,800 Lean Six Sigma projects, and in 2014, they generated over $470 million of cumulative profit improvements. Based on the success of the operational improvements PEx delivered, in early 2010 I was asked to create a new Sourcing & Procurement department. Previously, purchasing was done locally with little leveraging of spend or compliance.
• In 2014, our Procurement initiative delivered over $60 million in cumulative cost savings.
In mid-2010, I was asked to create a new Strategic Planning process to help develop and coordinate various initiatives throughout our organization, done in conjunction with our EVP Strategy & Pricing.
In July 2014, I was again asked to expand my responsibilities to lead a review of our shared services functions around the globe to deploy best practices and consolidate work where appropriate. Called Transformation 2015, the initiative’s financial goals are to improve EBITDA by $30 million in 2015 and to identify and implement improvements worth $50-70 million in annual run-rate savings by 2016.
• Since July, Transformation 2015 has already implemented savings in excess of $30 million. From January 2009 to Present (7 years) Board Member @ Joined the Board of Directravel, a leading corporate travel management company, in conjunction with its acquisition by Silver Oak Services Partners. From October 2011 to December 2015 (4 years 3 months) Vice President, Global Lean Six Sigma Deployment Leader @ Volunteered to start a new strategic initiative from scratch: a companywide Lean Six Sigma deployment. The initiative’s goal was to use the Lean Six Sigma tools to improve the company’s processes and increase profits by $100-$150 million by year three. By the third year (2010), my team had initiated over 2,000 projects and delivered $186 million in profit improvements, well exceeding our goal. From May 2007 to December 2008 (1 year 8 months) Vice President, Financial Planning & Analysis @ Hired to fix a troubled corporate Financial Planning & Analysis (FP&A) department. Based on my prior career success and ability to fix a similar situation at American Airlines, I was hired as a direct report to the CFO to reorganize the department, staff up as required, and redesign the workload to once again allow the group to provide value by analyzing and reporting on financial performance. From May 2004 to April 2007 (3 years) Managing Director, Maintenance & Engineering (M&E) Strategic Initiatives @ As the result of a restructuring analysis that I previously developed, I was asked to lead two new major initiatives in a new role created for me. The first was to completely redesign the Maintenance & Engineering's Supply Chain to improve its efficiency and effectiveness. The second was to develop a business plan to determine if the M&E division should become a profit center and begin doing maintenance on third-party aircraft. From October 2003 to April 2004 (7 months) Tulsa, Oklahoma AreaManaging Director, Information Technology Systems @ Led a group of 4 managers and 36 systems analysts, reporting to the Vice President, Strategic Systems, in this divisional CIO role in M&E. Responsible for identifying new systems to improve asset productivity, prioritizing and justifying cost-effective solutions for funding, and then rapidly implementing approved solutions on-time and on-budget. From April 2001 to September 2003 (2 years 6 months) Tulsa, Oklahoma AreaManaging Director, Finance and Accounting @ As the M&E divisional Controller, led a group of 6 managers, 60 financial analysts and 10 accountants, reporting to the VP of Finance, Planning and Materials Management. Responsible for financially evaluating potential new investments and insourcing of work, implementing cost controls, managing capital and expense budgets, and analyzing and reporting on monthly financial results. Also responsible for revenue and expense accounting on our third-party contract maintenance work, accounting for and controlling $1.8 billion in spare parts inventory, working with the corporate accounting team on external reporting requirements, and working with American’s external auditor. From March 1998 to March 2001 (3 years 1 month) Tulsa, Oklahoma AreaVarious Finance and Human Resources Positions @ Manager, Capital Planning
Manager, Compensation and Organizational Analysis
Team Leader, Airline Profitability Analysis
Senior Financial Analyst, Corporate Financial Analysis From May 1993 to March 1998 (4 years 11 months) Senior Equity Research Associate @ Followed the Airlines and Auto Manufacturers in an Equity Research role. From June 1989 to June 1991 (2 years 1 month) Greater New York City Area
MBA, Concentrations: Business Policy and Statistics @ The University of Chicago Booth School of Business From 1991 to 1993 BS & BS, Finance & Management @ Ithaca College From 1985 to 1989 David CFA is skilled in: Financial Analysis, Financial Planning, Supply Chain Management, Accounting, Lean Six Sigma, Human Resources, Procurement, Strategic Planning, Information Technology, Distressed Situations, Bankruptcy Planning, Six Sigma, Project Planning, Lean Manufacturing, Strategic Financial Planning
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