Johnston, David C.

David has held a variety of restructuring management and advisory leadership roles during his 12-year tenure with AlixPartners, including significant cross-border leadership roles in the Calpine Canada CCAA, SEM Canada CCAA and AT&T Latin America cases. He has performed as a lead restructuring advisor, Chief Financial Officer (CFO), Chief Accounting Officer (CAO), Controller, Treasurer, Director of Human Resources, and SVP of Finance of companies ranging from middle market to mature businesses in excess of $20 billion in assets.

David has developed and implemented a broad array of improvements including:

  • Cash & liquidity management programs to monitor and improve working capital
  • Facilitated negotiations with lenders, suppliers and creditors to reach mutually beneficial results
  • Effectively managed numerous client operations, improving productivity, morale and vision, while streamlining costs
  • Divested non-core assets and actively led the sale of entire entities


During his career, David has been responsible for successful restructurings at a number of global businesses. Recent notable experience includes:

  • David is currently leading the restructuring of BearingPoint, a $3.5 billion global consulting firm with 16,000 employees, as its Chief Financial Officer. His efforts and collaboration will lead to secured creditors receiving a 100% recovery, up from 30% and a meaningful return to unsecured creditors.
  • David led the mega cross-border restructuring of Calpine Canada, representing the parents interests in the CCAA proceeding. He developed and brokered a mutually beneficial global settlement that resulted in 100% recoveries for the $4 billion creditors interests, including a return of capital of more than $400 million to the parent.
  • In 2007/2008, he guided Remy International (Delco Remy) through its restructuring that resulted in the first ever prepackaged chapter 11 of any Tier 1 automotive company. The newly restructured Remy’s debt was reduced by 50% and its EBITDA doubled, reducing the company’s leverage ratio from 14x to 3.5x. He received the TMA’s 2008 “Transaction of the Year” in recognition of his efforts restructuring Delco Remy.


David is a Certified Public Accountant (CPA), Certified Insolvency & Restructuring Advisor (CIRA), Certified Turnaround Professional (CTP) and received a bachelor’s degree in economics and management and accounting from Albion College in Michigan. He is an active member of the American Bankruptcy Institute (ABI) and Turnaround Management Association, where he has lectured on successful strategies for cross-border restructurings.