Consulting firm Ankura has added seasoned c-suite executive and advisor Scott Davido as a senior managing director in the firm’s turnaround & restructuring group. He will be based in New York City.
Davido brings more than 30 years of experience leading operations, finance, accounting, and strategy functions for organizations undergoing crises or transitions.
He has experience serving in a number of interim executive roles, including chief executive officer, chief financial officer, chief legal officer, and chief restructuring officer. Davido has deep expertise across all aspects of the workout process, including business plans, restructuring plans, debt refinancing, valuations, and due diligence.
Davido is currently the chief restructuring officer of MDC Texas Energy, an oil and gas exploration and production company. He spent the last four years as CEO and president of Advantage Rent A Car, helping the company improve its financial performance through sales and operational initiatives (the firm previously filed for bankruptcy in 2008 and 2013).
Before that, he spent six-and-a-half years at FTI Consulting, where he was a senior managing director. Davido previously was a chief restructuring officer and CFO at utilities firm Calpine Corporation, EVP and president of the Northeast division at utilities firm NRG Energy, and EVP and CFO at retailer Elder-Beerman.
Earlier in his career, he spent a decade at law firm Jones Day, where he was a partner in the corporate group. Davido holds a JD as well as BS in accounting from Case Western Reserve University.
“Scott’s successful track record of leading companies through complex turnarounds and restructurings speaks to his talent as an executive and trusted advisor,” said Philip J. Gund, senior managing director and turnaround & restructuring business group leader. “Scott is a welcome addition as we continue to build upon our deep bench of professionals in the field and enhance the solutions we provide to clients navigating the complexities of today’s challenging business environment.”
Based in Washington, DC, Ankura focuses on corporate performance and risk management, providing consulting services across compliance, investigations, forensics, technology, turnaround and restructuring, and corporate strategy. The firm has 1,500 employees across more than 30 global offices.
Davido said, “I am excited to join such an accomplished and collaborative team of professionals and reunite with many colleagues with whom I have worked during my career. Today’s environment presents new challenges and uncertainties for all our clients. I look forward to working with my colleagues to help clients navigate these increasingly complex market conditions.”
Turnaround and restructuring consultants are in high demand as many sectors face economic disaster as a result of the pandemic. Non-grocery retailers, oil and gas, commercial construction, travel and tourism, and hospitality are among the industries that are most at risk.
Ankura recently added oil industry expert Anthony Schnur as a senior managing director in its turnaround and restructuring practice in Houston.