Providing CFO services and Business Transition Services in the Greater Philadelphia area
David W. Whitwell
West Chester, PA CFO
29 Years of Experience
Pennsylvania State University,BS
Lehigh University, MBA
Certificates & Licenses:
Philadelphia Chapter FENG
Contact David Whitwell and receive a free Discovery Analysis™
- A confidential meeting with the business owner(s), then interview company staff.
- Look at the company’s financial information and computer systems.
- Benchmark financial information against industry averages.
- Create a confidential report of our findings in The Strategy Gameplan™
David is an operationally focused financial executive with twenty five years of broad financial, accounting and management experience helping companies grow, improve profitability and increase cash flow. David has been the CFO for small entrepreneurial companies (Circa Heathcare, Dynatech, Locus Pharmaceutical and Onpath Technologies), small public companies (Clean Diesel Technologies Inc) as well as Divisional CFO for large multi-billion entities (Primedia in NYC). He was Manager of Finance with Schering-Plough, and he started his career with Ernst & Young in public accounting. David has a diversified range of industry experience including biotech/pharmaceutical, alternative energy, technology, media/publishing, consumer products, distribution and manufacturing.
David's broad and diversified experience is complemented by his high energy and persistence, a positive can do attitude and a genuine enthusiasm for helping his clients succeed. He focuses on the financials so his clients can focus on the rest of their business.
David's strengths include a strong analytical and problem solving ability, effective communication skills, business process enhancement and cash flow improvement. He prides himself on being able to effectively develop, summarize and communicate financial information to non-financial managers. Some areas of expertise include:
- Budgeting and Planning
- Strategic Business Plans & Start-ups
- Fund Raising including Bank and Venture Capital
- Cost Reduction & Restructuring
- Staff Development & Internal Controls
- Operational & Financial Analysis
- Acquisition & License Negotiation
Experience and Key Achievements
During the last fifteen years David has developed new strategic business plans for mature businesses as well as start-ups and new cutting edge technologies. He has prepared board and investor proposals for many forms of capital raising including venture capital, bridge loans and bank financing. He recently arranged a $2M line of credit for turnaround technology company. David has also managed the process of listing on the Alternative Investment Market (AIM) of the London Stock Exchange as well as completed several private placements and bridge loans. He has negotiated debtor-in-possession financing and sold operations to a private equity group.
David has been involved with evaluating and integrating numerous acquisitions during his career. He recently performed the business analysis and financial/legal due diligence to justify an $18M technology company acquire an $8M start-up. He coordinated the financial, accounting and system integration of 3 acquisitions in 12 months that increased a division's revenue from $35M to over $100M. He has participated in world wide license negotiations for patented new technologies and drug licenses as well as a manufacturing agreement to build a new $45M manufacturing facility. David has performed dozens of capital investment analyses.
David has performed many activity based cost analyses for companies to help them identify low or poor performing business segments or product lines. He helped a struggling clinical biotech transform into a revenue generating discovery organization. In addition while working with the management of a manufacturing company, several under-performing product lines were identified and eliminated, minimum order quantity raised and the selling price increased on key products, resulting in 6% profit increase with minimal revenue decrease. He also identified and implemented a six month $5M cost reduction plan to right-size another company's operations.
Education and Community
David has a B.S. in Accounting from The Pennsylvania State University and an MBA from Lehigh University. He is a CPA and also was a certified management accountant.
David resides in Garnet Valley, Pennsylvania (between Wilmington DE and Philadelphia) with his wife and two children. He is active in the community volunteering at his children's school and sport's teams.
Contact David (610) 675-4474
CFO of the Year
David Whitwell is a member of the B2B CFO Partners network, which places financial executives in short-term assignments, typically with emerging and middle-market businesses. During a current assignment as acting CFO of Blue Bell-based Ansaris, a division of Locus Pharmaceuticals, Whitwell helped the then-CEO transform the business from a non-revenue-generating clinical company into an R&D business with sales.
Whitwell’s responsibilities since joining Ansaris in 2008 include working with the CEO on long-term strategy and general strategic and operating issues, including cash flow, board meetings, new business plans and infrastructure and operating expenses. He uses information about revenue and profits and losses to help guide a long-term strategy for the company.
Whitwell got high marks from Ansaris CEO Joan Lau for his assistance restructuring the company to focus on its scientific strengths and cost reduction.
“David is not only an excellent strategist, he has adapted seamlessly into our organization in a way that is very effective,” wrote Lau in her nomination. “Importantly to me, he provides me his opinion, counsel and recommendations on the pros/cons of any decision, and then after a decision is made, supports the implementation of the decision fully. He works both with management as well as scientists with ease, and many come to him for advice/counsel before making proposals to senior management.”
— Valerie Rubinsky