FTI Consulting Announces Two Corporate Finance Appointments
Company Opens Troy Office to Better Serve the Automotive Industry
Baltimore, MD - June 4, 2007
FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced two new key appointments. Stuart Gleichenhaus and David Woodward have joined the company as senior managing directors in FTI Corporate Finance. In addition, the company announced the opening of its Troy, Michigan office to better serve its automotive and general business clients in the area.
“The depth and breadth of experience these professionals bring to our company is what sets FTI apart and gives our clients confidence in our ability to help them chart the right course through critical times,” said Executive Vice President and Chief Operating Officer, Dominic DiNapoli. “Stuart is an interim management expert and David has distinguished himself as an automotive industry specialist. We are pleased to welcome them to our growing team of seasoned business advisors dedicated to helping our clients protect their vital interests.”
In announcing the company's new Troy location, Mr. DiNapoli, added: “The opening of this office is an important next step in expanding FTI's ongoing commitment to serve an integral role in the successful transformation of the domestic automotive industry. FTI is one of the most active firms of its kind contributing to the overall restructuring of this industry.”
Stuart Gleichenhaus has been appointed senior managing director in the FTI Corporate Finance interim management practice, FTI Palladium Partners, in Dallas. Mr. Gleichenhaus's experience includes serving as the chief restructuring officer and interim chairman, president and CEO of EaglePicher Incorporated, a diversified, privately held advanced technologies company and manufacturer of auto parts, where he successfully guided the $650 million revenue company to a consensual plan of reorganization within 10 months of filing Chapter 11. Prior to this he was a managing director of restructuring advisory services at Ernst & Young Corporate Finance LLC in Dallas, where he participated in the restructuring of 20 companies including the two largest bankruptcies in history—Enron and Worldcom. He also served as leader of Ernst & Young's oil and gas industry transaction advisory services practice.
In the 1990's Mr. Gleichenhaus led the investment banking efforts of Banc of America Securities in Texas and also served as chief operating officer for Banc of America Securities' media & telecom group in New York. Throughout his 25-year finance career, he has been involved in structuring or restructuring numerous complex leveraged transactions while also holding senior positions with GE Capital, Trammell Crow, Salomon Brothers and Merrill Lynch. He holds an M.B.A. degree from Harvard Business School and a B.S.E. degree with honors in civil engineering from Princeton University.
David Woodward has been appointed senior managing director in FTI Corporate Finance based in Troy. He has more than 20 years of automotive experience. Mr. Woodward joins the company from Macquarie Securities, which recently acquired Giuliani Capital Advisors (GCA), the financial advisory and investment banking subsidiary of Giuliani Partners LLC, where he served as managing director and automotive practice leader. While with GCA, Mr. Woodward provided turnaround and restructuring advisory services to various stakeholders during large, complex, high-profile automotive engagements. He has extensive experience in representing automotive interests in negotiations with their lenders, customers and other stakeholders.
Prior to that, Mr. Woodward was vice president of finance, treasurer, CFO and a director with the Talon Automotive Group, a multi-national supplier to the automotive industry with manufacturing facilities throughout the U.S. and Canada. Previously, he was vice president of finance-manufacturing with the Talon Group, a private equity fund, where he gained significant financial, operating and mergers and acquisitions experience with the fund's diverse holdings in the automotive, equipment manufacturing, foam fabrication, printing, packaging, aerospace machining, aluminum die casting and retail sectors. He received a bachelor's degree in accounting with a minor in economics from Westminster College in New Wilmington, PA, and received his CPA certification in 1982.
About FTI Consulting
FTI Consulting is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 2000 professionals located in most major business centers in the world, we work closely with clients every day to anticipate, illuminate, and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management and restructuring. More information can be found at www.fticonsulting.com.
Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve uncertainties and risks including statements related our future financial results. There can be no assurance that actual results will not differ from the company's expectations. The Company has experienced fluctuating revenues, operating income and cash flow in some prior periods and expects this will occur from time to time in the future. As a result of these possible fluctuations, the Company's actual results may differ from our projections. Further, preliminary results are subject to normal year-end adjustments. Other factors that could cause such differences include the pace and timing of the consummation and integration of past and future acquisitions, the company's ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks described under the heading “Item 1A. Risk Factors” in the Company's most recent Form 10-K and in the Company's other filings with the Securities and Exchange Commission. We are under no duty to update any of the forward-looking statements to conform such statements to actual results or events and do not intend to do so.