David C. Johnston is a Managing Director in AlixPartners’ Turnaround and Restructuring Services group. He joined the firm in 1998 and is based in the New York office. He has assisted companies as both a lead restructuring advisor and interim officer; Chief Financial Officer (CFO); Chief Restructuring Officer (CRO); and Treasurer. David has developed and implemented a broad array of improvements to quickly stabilize businesses, including cash and liquidity management programs that monitor and improve working capital; and he has effectively managed numerous client operations, improving productivity, morale, and vision while streamlining costs. David is a skilled negotiator, working with lenders, suppliers, creditors, and other stakeholders to reach mutually beneficial results.
David led the restructuring of BearingPoint in Atlanta, which at its peak was a $3.5-billion global consulting firm with 16,000 employees. His efforts as CFO and his collaborations with others were recognized by the Turnaround Management Association, which named BearingPoint the 2010 Mega Company Turnaround of the Year.
David is currently serving as CRO for a $250-million mortgage services company and is the lead restructuring advisor to a credit card payment processor. During his career, David has overseen successful restructurings across a variety of industries, including financial services, real estate, automotive, energy, and telecom. Notable engagements have been in the areas of:
- Asset lite: BearingPoint, United Companies Financial Corp., Cityscape Financial, Sunterra Financial Services, and Prommis Solutions
- Automotive and transportation: Delco Remy, Mark IV Automotive, Horizon Lines, PLS Logistics Energy: Calpine Corp., Calpine Canada, Sem Canada
- Telecom: AT&T Latin America, Cable & Wireless USA, US Communications
David is a certified public accountant, a certified insolvency and restructuring advisor, and a certified turnaround professional. He received a bachelor’s in economics, management, and accounting from Albion College in Michigan. He is an active member of the American Bankruptcy Institute, the Association of Insolvency & Restructuring Advisors, and the Turnaround Management Association, where he has lectured on successful strategies for cross-border restructurings. And he was named to Turnaround & Workouts’ 2011 Restructuring Professionals to Watch.