FTI Consulting, Inc. Announces Appointment of Three Senior Managing Directors to Corporate Finance Segment
WEST PALM BEACH, Fla., June 9, 2009 /PRNewswire-FirstCall via COMTEX/ -- FTI Consulting, Inc. (NYSE: FCN), the global business advisory firm dedicated to helping organizations protect and enhance their enterprise value, today announced the appointment of three senior managing directors to its Corporate Finance segment; Barry Monheit, Stuart Oran and David Narramore.
Commenting on the appointments, Dominic DiNapoli, FTI's Executive Vice President and Chief Operating Officer said, "FTI has received unprecedented interest from clients seeking guidance on how to navigate today's highly challenging economic environment. Barry, Stu and David each possess the perfect balance of broad strategic insight, coupled with hands-on expertise that have become the hallmarks of the services FTI brings to its clients each day. Their appointments will help us further service these clients and further solidify FTI's leadership position in event driven consulting. We are proud to have them joining our ranks."
Both Barry Monheit and Stuart Oran will be part of Palladium Partners, FTI's interim management practice, headed by Greg Rayburn. David Narramore will join FTI's restructuring and performance improvement practices.
Barry Monheit has more than 30 years of experience as a hands-on, strategic advisor on financial and operational issues in various restructuring situations. He has served as a mediator and both operating and liquidating trustee, as well as successfully represented companies, bondholders, lenders, equity holders and creditors committees.
Mr. Monheit has served for the past five years on the board of directors of Smith and Wesson Holding Corp., a Nasdaq company, and has been non-executive Chairman since October 2005, when he led an effort for change in top management and strengthening of the board of directors.
Mr. Monheit's experience includes being the co-founder and a past president of FTI's Financial Consulting division. He was also the partner-in-charge of Arthur Anderson's New York Financial Consulting division and the firm's U.S. Bankruptcy and Reorganization practice, which consisted of over 300 professionals. He also served as managing partner for Spicer & Oppenheim, an international accounting and consulting firm, in its Houston office.
Stuart Oran has more than 30 years of hands-on corporate finance, restructuring, M&A, and operating experience. He has been a change agent in companies ranging from startups to multinational public entities, some involving substantial negotiation with organized labor. He has worked extensively with governmental entities at the local, state and federal levels, both solving problems and creating significant enterprise value. He has experience in consumer product, consumer service, financial services, manufacturing, and distribution companies with emphasis on sales and marketing-driven, product and service businesses. Prior to joining FTI, Mr. Oran was the founder of Roxbury Capital Group LLC, working with private equity firms on acquisitions, restructurings and oversight of portfolio companies. Recently, as an "activist" board member of Wendy's International, Mr. Oran helped effect the strategic repositioning of the Company and the disposition of non-core businesses. In addition, he led the evaluation of Portola Packaging's business and of available financing alternatives on behalf of its shareholders ahead of Portola's pre-packaged Chapter 11 filing, and was instrumental in helping to identify and affect cost-cutting measures at Spirit Airlines, now one of the lowest cost carriers in the US.
Mr. Oran has extensive domestic and international operating experience at a senior management level. He joined United Airlines in 1994 to help effect a strategic and cultural transformation as it became the world's largest employee-owned company. He served on the Management Committee; had profit and loss responsibility for United's $6 billion International Division with 12,000 employees and operations in 27 countries; was President and CEO of its business aviation line of business; and had global responsibility for its governmental, legal and regulatory affairs.
Previously, Mr. Oran was a partner at the law firm of Paul, Weiss, Rifkind, Wharton & Garrison, focused on M&A, corporate finance and restructuring transactions. He has served on the Board of Directors of Wendy's International, Hughes Telematics, Spirit Airlines, and Portola Packaging; the US-Hong Kong Business Council chaired by Paul Volcker, and the US-Japan Economic Task Force of the Council of Foreign Relations chaired by Laura D'Andrea Tyson.
David Narramore has over 26 years of experience supporting commercial organizations by analyzing and developing recommendations on complex strategic, operational, valuation, and financial issues impacting their business. For the past 15 years Mr. Narramore has served as a partner or managing director at IBM Global Business Services, LECG, Bearing Point and KPMG, where his responsibilities have included business development, project delivery, managing client relationships, practice management and developing thought leadership.
During this time, Mr. Narramore's experience included assisting clients in evaluating the financial and operational impacts enabled through transformational performance improvement initiatives linked to changes in strategy, processes, technology, and people issues. In addition, he has worked for the debtor or creditors on 15 corporate restructurings/bankruptcies, served as a financial advisor to management and shareholders, and led a valuation consulting practice.
Mr. Narramore has worked in a diversity of industry segments with significant concentration of experience with industrial, manufacturing, and transportation including: aerospace, airlines, chemicals, industrial manufacturing & services, oil & gas, medical devices/pharmaceutical; transportation and utilities.
About FTI Consulting
FTI Consulting, Inc. 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 3,300 employees 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, strategic communications and restructuring. More information can be found at www.fticonsulting.com.
Safe Harbor Statement
This press release may include "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve uncertainties and risks. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues, future results and performance, expectations, plans or intentions relating to acquisitions and other matters, business trends and other information that is not historical, including statements regarding estimates of our future financial results. When used in this press release, words such as "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes," "forecasts" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, estimates of our future financial results, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved or that actual results will not differ from expectations. The Company has experienced fluctuating revenue, operating income and cash flow in some prior periods and expects this will occur from time to time in the future. 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.
SOURCE FTI Consulting, Inc.