July 15, 2010 ChannelAdvisor’s David Spitz Wins Triangle Business Journal CFO of the Year Award
ChannelAdvisor’s David Spitz Wins Triangle Business Journal CFO of the Year Award
Spitz is honored in the Medium Private Company category
Research Triangle Park, NC – July 15, 2010 – ChannelAdvisor, a solution provider that enables online retailers to improve efficiency and increase revenue, today announced that David Spitz has been named a Triangle Business Journal CFO of the Year for 2010. As ChannelAdvisor’s chief operating officer, Spitz is responsible for sales, marketing, services, operations, as well as finance. The Triangle Business Journal recognizes local CFOs each year to highlight the accomplishments of these often unsung heroes.
“In 2008, David received a battlefield promotion to run our finance team in the face of a difficult macro-economic environment. David designed and executed an operating plan that allowed us to execute effectively through an extensive restructuring and allocate capital in a way that made economic sense&endash;in short, he gave us the headlights we needed to see forward,” said Scot Wingo, CEO of ChannelAdvisor. “David’s leadership saved us more than $15 million and vaulted us to profitability. That is a major accomplishment, and we’re a better company for it.”
Since joining ChannelAdvisor in 2006, Spitz spearheaded two large acquisitions, successfully steered the company through a major recession and also established a variety of critical company controls and processes to help it scale effectively and efficiently.
“When I assumed the COO/CFO role at ChannelAdvisor, we’d had significant turnover in our finance department and the team was behind in a number of important areas,” said Spitz. “Not surprisingly, these challenges were beginning to affect the business, especially with the economic climate of 2008 taking shape.”
“I’m proud to accept the Top CFO award from the Triangle Business Journal, but I’m even prouder of my team, who deserves this award more than I do,” said Spitz. “Together, we set expectations, plowed through a mountain of backlogged work and learned how to establish and manage priorities and expectations going forward. Today the team runs like a well-oiled machine, hits goals ahead of schedule and has had zero turnover in over 18 months&endash;which I consider an enormous success.”
Another deciding factor in Spitz’s inclusion on the CFO list was community involvement. Spitz’s passion is education; he’s chaired the Foundation Board of the North Carolina School of Science and Mathematics and is currently teaching a class on entrepreneurship at the school. He’s also active on the board of the Council for Entrepreneurship (CED) as he believes strongly in its mission of supporting entrepreneurs.
For a complete list of winners and further details, visit http://triangle.bizjournals.com