DAVID DAY

18 years Commercial and Investment Banking 3 years McKinsey & Company, 10 years performance improvement work Delivered results in steel, zinc, wood products, pulp& paper, coal Expertise in banking, operations throughput and sustainability of change Delivered results in Australasia, New Zealand, Hong Kong, Europe, USA MBA (AGSM), Diploma in Applied Finance from the Securities Institute of Australia.

David has worked with PIP since 1998. Prior to this he worked with McKinsey & Company and in his own consulting practice for 5 years and in commercial banking and project finance for 20 years.

CAREER SNAPSHOT

Highlights of David's performance improvement work include:

• Leading the improvement program at a large zinc smelter to deliver a sustainable $33m pa improvement in operating performance. Worked with the client executive team to set performance targets, design and manage the business improvement program. The team reduced operating costs by ~8% while increasing output by ~12%. Since the team departed, the client has maintained cost performance and continued to set new output records. It's position on the cost curve has reduced from the 50 percentile to below 15%. These results were achieved by delivering significantly improved efficiencies from the electrolytic process as well as debottlenecking the leaching and casting operations. Extensive cost reduction work was also done in the areas of procurement, contractor management, maintenance efficiencies & effectiveness.

• Leading the operations improvement effort in the bottleneck at an $850m UK fine paper mill.  Responsible for leading idea generation, evaluating and recommending improvement projects, overall project management of implementation and development of relevant KPI tracking at the plants bottleneck. This engagement across 3 mills led to $100m of annual improvements being delivered in the accounts within 15 months. At David's plant production was increased 26%, machine efficiency was up 11%, unplanned downtime was reduced from 12 to 2.5 hrs/wk and total wastage reduce from 10 to 5%

• Developed a business improvement program for a major Hunter Valley coal miner. Following work already undertaken to increase productivity in overburden removal, turned this into a standardised improvement program for application to other parts of the operation and other mines. The program achieved productivity improvements of up to 40% at this major open-cut coal mine, through pit design, sequencing of production, improving loading times, reducing travel and queuing time, and maintenance improvements to increase equipment availability

• Designed and directed the operational improvement effort at a multi-site timber and engineered wood products operations in Australia and New Zealand

• Lead improvement teams in a program that identified and delivered an 18% reduction in recurring costs for a leading cement manufacturer.  Lead the improvement effort in limestone mining and specialised cement operations, and optimising cement milling between four sites. Subsequently designed and implemented a KPI management system for application across all the companies operations

• Project management of a review of business performance and market opportunities for a global industrial services company operating in Australia , North America and Europe . This lead to identification of major opportunities for service enhancement and synergies across the global operations and underpinned the subsequent restructuring of the company into a series of global businesses

David worked with McKinsey & Company in their financial institutions practice before moving into operations management and strategy for industrial companies. Highlights included:

• Evaluating opportunities in the de-regulating New Zealand electricity generation and distribution market for a major industrial company, including analysis of the emerging industry structure and identification of synergies with existing energy related assets

• Participating in a 2-year operational improvement program delivering $500m in cost and revenue benefits for BHP Port Kembla.  Responsible for leading the improvement teams in blast furnace maintenance, coal handling and washing, road and rail transport and site services

• Restructuring the branch and transaction processing network of a New Zealand commercial and retail bank with specific responsibility for performance measurement systems and the integration of new product development

Prior to joining McKinsey & Company, David had extensive experience in commercial and investment banking with the Commonwealth Bank of Australia, culminating in his role as Senior Manager, Capital Markets, working on structured and project finance.

EDUCATION & INTERESTS

David holds a Masters of Business Administration from the Australian Graduate School of Management at the University of New South Wales , where he graduated first in his class. He also holds qualifications in applied finance and investment.  David's other professional interests include assisting CARE Australia with strategic planning. He is a former member of the Sydney fund-raising committee for CARE.  Outside work David's interests include bush walking, ocean kayaking, horse riding, theatre, and avidly following the Sydney Swans AFL team .