Ankura, a global leading business advisory and expert services firm, today announced that it has promoted Kevin Lavin, Ankura's Co-President since January 2016 and an accomplished consulting industry executive with more than 30 years of business consulting and executive leadership expertise, to the position of Chief Executive Officer, effective January 1, 2020. Mr. Lavin succeeds Roger Carlile, who has stepped down from the role after founding the firm in 2014. Mr. Carlile will remain engaged with the strategic direction of Ankura, serving as the non-executive chairman of its Board of Directors.

"Kevin is the natural choice to assume the role of CEO as Ankura further establishes itself as one of the leading global consulting firms," said Vahe Dombalagian, Managing Director and Co-Head of the Financial & Transaction Services team at Ankura's investment partner, Madison Dearborn Partners, and a member of Ankura's Board of Directors. "With his extensive operational and leadership expertise, proven track record at Ankura and strong vision for the firm's continued success, Kevin is well prepared to lead Ankura into its next period of growth. The entire Board and I are confident that Kevin can help Ankura achieve its objective of becoming the leader in its chosen markets and home to the best talent in the global consulting industry. We thank Roger for his vision and contributions, and we look forward to supporting Kevin during this next chapter."

Assuming this new role extends and expands the work Mr. Lavin has been undertaking for the last several years as Co-President of the firm. Since joining Ankura in early 2016, Mr. Lavin has played an integral role in determining and executing Ankura's growth strategy as a differentiated professional services firm focused on collaboration and the delivery of creative and innovative solutions for clients. Ankura today has over 1,500 employees in more than 30 offices worldwide and generates revenue in excess of $500 million. It intends to continue to grow by remaining true to its values and mission of helping clients navigate a wide range of corporate performance and risk management challenges. Mr. Lavin also possesses extensive executive leadership experience from previous roles serving as chief executive officer, chief operating officer, chief financial officer, and chief restructuring officer at various operating companies.

To further support Ankura's growth strategy in this next stage, Darin Buchalter, a Senior Managing Director, will become the Chief Administrative Officer of Ankura with responsibilities over IT, client intake, real estate, business administration and marketing. Mr. Buchalter will assume these duties while continuing to provide senior strategic counsel to both publicly traded and private clients in the real estate and construction industries. Additionally, David Tortorello, formerly Vice Chairman of Ankura, will become non-executive vice chairman of the firm, serving as a member of the Board of Directors. The other members of Ankura's leadership team, including President Phil Daddona, will remain in their current roles.

"I am honored to be named CEO of Ankura and to lead our talented professionals as we continue to grow and build upon our successes," said Kevin Lavin. "Since our founding in 2014, Ankura has grown from a nascent start-up into one of the fastest growing consulting firms."

"Our collaborative, client-centric approach and focus on innovation are what set Ankura apart and why clients continually seek our counsel," continued Mr. Lavin. "I look forward to continuing to work with my colleagues to ensure our values and mission continue to hold true and our clients continue to receive the high-impact and smart solutions they have come to expect in the midst of an increasingly dynamic and complex business landscape."

"I am immensely proud of all that we have accomplished at Ankura over these past five years," said Roger Carlile. "Our goal was to create a different kind of business advisory services firm and it has been an honor to lead our talented team of professionals as we have realized this vision. Kevin is the right person to build on this success as Ankura embarks on its next chapter of growth. He has been a critical partner in building Ankura into a dynamic organization and I am confident the firm will continue to thrive under his leadership."

Prior to joining Ankura in 2016, Mr. Lavin was appointed by the then-governor of New Jersey to serve as the emergency manager of Atlantic City, New Jersey. He also previously served as the global segment-leader of a major global consulting firm. Earlier in his career, he was a partner at PricewaterhouseCoopers.

About Ankura

Ankura is a business advisory firm defined by HOW we solve challenges. Whether a client is facing an immediate business challenge, trying to increase the value of their company or protect against future risks, Ankura designs, develops, and executes tailored solutions by assembling the right combination of expertise. We help clients navigate a wide range of corporate performance and risk management challenges, including those pertaining to compliance, investigations, forensics, technology, turnaround and restructuring, and corporate strategy. We build on this experience with every case, client, and situation, collaborating to create innovative, customized solutions, and strategies designed for today's ever-changing business environment. This gives our clients unparalleled insight and experience across a wide range of economic, governance, and regulatory challenges. At Ankura, we know that collaboration drives results. For more information, please visit: www.ankura.com.