CHICAGO, IL--(Marketwire - Jan 17, 2012) - MorrisAnderson, a leading financial and operational advisory firm, announced today that David M. Bagley, 45, has been promoted to principal, effective Jan. 1, 2012. In this senior leadership role, Bagley will leverage his extensive turnaround and financial advisory expertise to continue to grow MorrisAnderson's client portfolio, especially in the franchise industry practice group. Bagley will also be instrumental in further expanding MorrisAnderson's industry practice groups and coordinating the firm's national business development strategy.
"Dave's promotion to principal is a reflection of his solid track record in transitioning distressed companies to strong, profitable organizations," said Dan Dooley, principal and chief executive officer, MorrisAnderson. "Dave's diverse background and industry experience have helped MorrisAnderson grow our franchise industry practice group, which has served major industry players such as Sonic, Bar Louie, Restaurants America, Popeyes and Granite City Food & Brewery."
Bagley joined MorrisAnderson in 2001 as managing director. He has more than 20 years of experience assisting financially distressed and underperforming companies as a consultant and financial advisor. Bagley also regularly provides interim management support by assuming the role of CEO, CFO and CRO for transitioning companies, and was honored as one of Turnarounds & Workouts' "People to Watch" in 2010.
One of Bagley's noteworthy achievements was leading a turnaround plan for Roman, Inc., a religious giftware distributor. Bagley and his team transformed the $66 million company, which was losing more than $3 million annually, into a $40 million company with $2 million in annual profits by identifying lucrative business units, restructuring the business and implementing an effective inventory management system. With Bagley's counsel and advice, Roman, Inc. received the Turnaround Management Association (TMA) Chicago Chapter's "Medium Turnaround of the Year" award and the TMA National "Mid-Sized Turnaround of the Year" honorable mention award.
"During his more than 10 years at MorrisAnderson, Dave has consistently achieved successful outcomes for financially distressed and underperforming companies. His promotion to principal recognizes his contributions to the company, which ensure that MorrisAnderson will continue to provide unparalleled results and the highest quality of customer service," said Howard Korenthal, principal and chief operating officer, MorrisAnderson.
Bagley is a Certified Turnaround Professional (CTP) and an active member of the Turnaround Management Association, Association of Insolvency & Restructuring Advisors and American Bankruptcy Institute. He earned a master's degree in business administration from the J. L. Kellogg Graduate School of Management at Northwestern University and a bachelor's degree from DePauw University in Greencastle, Ind.
Chicago-based MorrisAnderson has offices in New York, Atlanta, Toronto, Cleveland, St. Louis, Minneapolis and Florida. The firm's service offerings include performance improvement and financial advisory services, interim and turnaround management and litigation support. MorrisAnderson emphasizes hands-on involvement with middle market companies in transition.