DAVID A. SMITH
LinkedIn: https://www.linkedin.com/in/experiencedceo/ Summary
Accomplished executive leader with significant experience turning around failing business operations, leading business development efforts and spearheading mergers and acquisitions to bolster growth. Vast industry experience includes manufacturing, wireless communications, consumer equipment, sensors and electronics. Proven ability to re- energize distressed and underperforming organizations toward higher profitability levels. Strategic leader who translates long-term visions into roadmaps for success while developing large-scale innovative solutions. Demonstrated capability to lead cross- functional teams across diverse geographies to deliver measurable results and exceed corporate objectives. LEAN 6S Black Belt Certified. Professional Experience
IAC Acoustics 2016 to 7/2017
IAC Acoustics, A division of Sound Seal, leads the market in all-metal noise and vibration control system products and solutions, including HVAC silencers; acoustic louvers, sound control architectural doors and windows, and sound proof rooms and enclosures, audiology booths. President – North Aurora, IL
Requested by Private Equity Firm to take total interim control of this triangular merger after resignation of the former owner and founder. Completed integration of acquired assets of much larger (3rd) company and moved same from Lincoln, NE to Illinois. Re-initiated manufacturing operations and rebuilt engineering and sales teams. Commenced an extremely aggressive program to re-establish relationships with acquired former customer base and created a new channel to market with several strategically selected Distributors and Reps. Successfully attracted and hired several prior operational executives from acquired companies to relocate to Illinois to bring severely needed corporate skillsets to round out engineering and manufacturing capabilities.
. Created positive revenue above break-even in FEB 2017, first time the Co. made money in 13 months
. Company is on track to increase total revenues by 50% over 2016 The MOREY Corporation 2014 to 2016
$110M provider of complex and sophisticated electronic & electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are Medical & Biotechnology, David A. Smith Page 2
Tier 1 Automotive & Large Vehicle, Military & Aerospace, Power Distribution & Control, Telematics, Industrial, and Telecommunications.
President & Chief Executive Officer – Woodridge, IL Took total control of the Morey Corporation as it first ever, non-family President & Chief Executive Officer in 02/2014. Aggressively and significantly grew revenues and restructured the entire operation to support a growth strategy. Accomplished this by developing extensive Engineering and Manufacturing capabilities which created a strong posture to experience significant growth and strategically positioned Morey to take advantage of the continued resurgence of Technology Manufacturing in the United States. I have also exercised my personal network to gain some very large contracts whereby more extensive design to spec work has been won which has been additive to our margins. The Morey Corporation was chosen as primary design agent and manufacturer for Caterpillar’s extensive Power Distribution & Control Business Model, worth Billions in new business. I have also increased utilization of our existing Joint Venture with Caterpillar to gain significant sustainment business with companies that have long life cycle products. MOREY is based in Woodridge, IL, and operates a 240,000 square foot, state-of-the-art manufacturing facility and design center.
Increased total revenues from $77M to $110M during 24-month tenure.
Totally reconstructed the Design Engineering Group, added first PhDs ever.
Hand picked, Strategized and Directed Morey’s entire Sales Team (12 person team).
Personally revitalized the business relationship with Morey’s largest customer; Caterpillar, which resulted in several large revenue contracts in Electronic and Electrical Power Distribution design and production, and exercised my personal network to gain several multi-year, multi-million dollar contracts.
Spearheaded sales initiatives, which resulted in first Medical Device, and Aerospace Subsystem design and production contract wins.
Optellios, Inc. 2010 to 2014
$15M Private Equity owned developer / manufacturer of fiber optic sensing technology for long distance monitoring, detection & perimeter security of critical infrastructure. President & Chief Executive Officer – Newtown, PA
After total collapse of the Corporation, took full P&L responsibility from the Private Equity owners. Restructured the company and reconstructed the technology team. Settled an ongoing patent infringement litigation, which had already depleted over half of the company’s remaining cash in legal fees. Hand picked the company’s first sales and marketing team and initiated its first international sales strategy. Changed the business model from direct sales to 1st tier supplier to the security industry’s major integrators and large resellers. Migrated the technology to a newer, next generation platform and Power control to remove the company from an environment of continued patent litigation. In 2012 and again, in 2013, Optellios was selected as one of the "Top Five Emerging Growth" Companies by SMART CEO. Optellios, Inc. was profitably sold to an international entity in early 2014.
Generated $5M in revenue the first year with 60% gross margins.
Successfully initiated international sales by identifying & hiring senior sales directors that could operate in theater. More than 50% of sales were international.
Grew the company head count from 10 to 25 souls, majority of the Eng. Staff were PhDs
Cultivated “National” reseller agreements with four of the largest global security and petro- David A. Smith Page 3
EMS Technologies 2007 to 2010
$475M developer & manufacturer of Wireless Communication, Connectivity, and Power Distribution & Control solutions for the space, US intelligence community, tactical military and aerospace / defense communications markets.
SVP & General Manager, Defense & Space Division – Norcross, GA Recruited to take charge of and grow division to a level never previously obtained with full P&L responsibility for $100M. Created a vision, which became a viable and understandable strategy and defined a new sales and marketing plan. Built an Operations department including the supply chain management function and commenced “All Hands Meetings” where all structural changes and strategic plans were openly communicated and discussed. Negotiated an IC program for all department heads. Established a running program of increased expectations and implemented a metrics program to asses our progress and assure our ability to implement continuous improvement.
Grew divisional revenues by 120% (from $45M to $100M) within three years and delivered 30% YOY growth by restructuring the organization according to functionality, building a new 15- member business development team and implementing a more disciplined bidding process.
Increased EBITDA from 7.5% ($3.4M) to 11% ($11M) of sales by growing revenues from $45M to
$100M and reducing cost of goods sold by 25%.
Delivered 72 major contracts in 2007 versus 23 major contracts in 2006 by aggressively utilizing a new business development team to increase the volume of growth opportunities.
Division was acquired by Honeywell.
Metal Storm, Inc. 2005 to 2006
$15M Private Equity-backed defense technology Projectile Launching System Turnaround. CEO & Managing Director – Arlington, VA
Took full P&L responsibility from the original founder after trading had been shut down and the Australian Securities Exchange (ASX) had deemed the company not “a going concern.” Chartered to turn the business around and move headquarters to the U.S.; generate new revenues and achieve re-instatement by the ASX for trading. Replaced senior staff members as needed and began to target specific opportunities for Company to undertake. Conducted planned demonstrations of technology with appropriate thought leaders and decision makers to create an understanding of new technology impacts. Bid and won necessary research and development contracts to fund continued product development. Recruited a senior business development individual to institutionalize BD efforts.
Generated $5M in revenue for a Company previously burning $10M of Private Equity funding annually by relocating operations to the U.S. and creating an aggressive marketing strategy to deliver substantial new contracts.
SenSyTech, Inc. 2002 to 2004
$68M developer / manufacturer of surveillance and electronic countermeasure/ SIGINT / communication intercept systems.
President & COO – Newington, VA
David A. Smith Page 4
Held full P&L responsibility for $68M with a charter to assimilate a new acquisition out of bankruptcy. Created and executed on the first strategic plan and operational budget in several years. Formulated a very strong relationship with Congressman Jack Murtha of Pennsylvania and designed and constructed three manufacturing operations in his district. Personally managed the creation of a complete manufacturing management team including a Vice President of Operations and a team of manufacturing engineers and supervisors.
Grew organization from $16M to $68M (over 300%) through pure grassroots growth by re- directing product and technology focus and re-organizing the sales and marketing team.
Raised $20M through a successful secondary offering to increase Company’s operations capabilities.
Procured $35M in supplemental funding for Torpedo Countermeasure Program and won a seven- year, $800M contract with U.S. Navy to complete design and manufacture of Torpedo Countermeasure System.
Successfully increased stock price from $7.00/share to as high as $25.00/share while retiring all debt.
Company was acquired and merged with ARGON Technologies to form ARGON ST. Quixote Corporation 1999 to 2002
$105M designer & manufacturer of highway and transportation management and safety Systems. Group President – Chicago, IL
Full P&L responsibility ($45M) for technology unit. Identified and acquired remaining three companies and assimilated the acquisitions into a synergistic technology group and generated revenues to match the Mechanical Group of the organization. Based on group-wide requirements, facilitated enormous efficiencies and cost savings. Implemented a very aggressive “Systems” Product development initiative and immediately brought capabilities to the State and Federal Departments of Transportation. Started a fifth company that was directed strictly toward services.
Increased revenues from $5M to $11M (a historic high) by implementing a strategy that allowed new traffic management systems to be sold as stand-alone products.
Drove organization from $11M to $45M by spearheading three acquisitions to enhance capabilities.
Increased utilization of distribution and re-directed additional capacity toward a “Systems Integration” business that proved to increase revenues by 24% and international business by 30%.
Contributed to stock price improving from $9.00/share to $23.00/share as Company was rated in the “Top 100” Rising Technology Companies by Forbes Magazine. Amphenol Incorporated 1996 to 1999
Amphenol is a major manufacturer and leading distributor of a world range of Electronic Connectors. Customers include large OEMs, DoD and other Gov't agencies as well as relatively small, diverse and demanding regional consumers. Customers are served through facilities in North America and joint ventures World Wide.
Executive Vice President of Operations – Sidney, New York Managed 5 manufacturing operations with 3,500 employees through 9 business units for Amphenol’s North American Electronic Connector manufacturing and distribution businesses. Oversaw P&L of $575 million. Designed and implemented the strategic start-up of assembly operation with 250 employees in Nogales, Mexico. Was David A. Smith Page 5
selected to design and manufacturer all the Data and Power distribution and control transfer systems for the International space station. Mr. smith earned his LEAN Six Sigma Black Belt while at Amphenol. General Electric Company / Lockheed Martin 1982 to 1996 GE Undersea Systems Division – Designer and manufacturer of sophisticated SONAR & Undersea Combat Systems for Submarines and Surface Combatents.
Senior Program Manager – Syracuse, New York
Led and managed direct reports and 900 employees including design, systems, electrical, material and quality engineers, software programmers, financial analysts, purchasing agents, and subcontract management teams focused on the establishment of program plans, budgets, schedules and negotiations consistent with contract and technical requirements for the SEAWOLF SUBMARINE COMBAT SYSTEM - AN/BSY-2, a $1.6 billion program; Delivered on schedule and on cost
Education & Professional Development
Entrepreneurial Fellow, University of Pittsburgh ~ 06/2003 MBA, Finance & Innovation Management, Syracuse University ~ 12/1989 BS, Engineering, U.S. Naval Academy ~ 06/1975
Member, Board of Directors, Gallagher Fluid Seals ~ 02/2017 to Present Member, Board of Directors, American Electronics Association ~ 2007 to 2010 Member, Board of Directors, Operation Horses & Heroes ~ 2015 to Present Senior Mgr. / Financial Mgr. / Manufacturing Mgr. Programs, General Electric ~ 1983 to 1988 Other Interests & Accomplishments
U.S. Naval Officer ~ COMMANDER (O-5), Naval Aviator, Naval Test Pilot, Reserve Squadron Commander
Member, 1975 Pan-American Crew Team
Member, 1996 U.S. Olympic Equestrian Team