Troy Stovall joined Ridgeland, MS-based Butler Snow Advisory Services (BSA) as a Principal in 2013. BSA, a subsidiary of Butler Snow LLP, a nationally recognized law firm, is full-service corporate advisory firm focused on the needs of privately-held, lower- middle market businesses (less than $100 million in revenue). His efforts at BSA include providing strategic consultation to the President of an HBCU and its campuses on how to address over
$50M in budget cuts in last 3 years and leading the development of a comprehensive growth strategy for a $100M+ family-owned training firm looking to leverage its core competencies into new markets.
Mr. Stovall serves as a Member of GTMS Partners, LLC, a minority-owned Houston-based provider of piping solutions to municipalities and energy clients.
Mr. Stovall founded and serves as Managing Member of LeMaile Stovall LLC, a management consulting firm serving for-profit and nonprofit firms focused on strategy, operational performance and fundraising. Some recent engagements include: Leading the design of a Balanced Scorecard (BSC) for a multi-campus higher education system which includes an academic health center; leading the day-to-day staff efforts and strategic planning (serving as President) for GulfSouth Capital, Former US Ambassador to Portugal John Palmer’s family investment office; raising funds (greater than $50M) for several early and mezzanine stage firms; led development for a county of a comprehensive economic impact plan for a proposed 18-mile roadway; advised economic development agency for a major US city on strategy and grant development leading to the development of the first Community Economic Development Strategy (CEDS) for the city and leading the efforts of a software development firm introducing its Activity-Based Costing (ABC) model to higher education institutions.
From January 2010 to March 2012, Mr. Stovall served as the Executive Vice President and Chief Operating Officer at Howard University (HU) in Washington, DC, a 10,000+ student institution with a ~$900M+ operating budget including a Law School, Divinity School, Howard University Hospital and Beltsville (MD) campuses. Mr. Stovall provided leadership for public safety, facilities management, capital planning, construction, space management, sustainability, auxiliary services, human resources, sourcing, asset management, internal audit, enrollment management, information management and overall institutional effectiveness within a ~$130M budget and a 400+ member staff.
In his time at Howard, Mr. Stovall was able to gain ~$9M in savings from redesigning benefits, co-leading the launch of an online Executive MBA program in Spr-2012, overhauling Enrollment Management processes eliminating lines and increasing customer service delivery, reducing IT spending by $5M and increasing service delivery, completing and obtaining District approval for a 15-year campus master plan which included a 5-7 year
$300M capital plan, completing $30M in renovations to six (6) facilities, co-leading a $30M faculty retirement incentive program and developing a campus sustainability program that included reducing residence hall energy levels by 14% (won DC Energy competition against American and George Washington).
Prior to Howard, Mr. Stovall served as the Senior Vice President, Finance and Operations, for Jackson State University (JSU) in Jackson, MS. In that role, Mr. Stovall had responsibility for the finances, facilities, construction, auxiliaries, economic development and strategy implementation for a university with over 8,500 students and an operating budget of over $160M. In addition, Mr. Stovall served as Treasurer of the JSU
Development Foundation and Executive Director of the JSU Educational Building Corporation (EBC).
While leading a team of over 400 professional and line employees, Mr. Stovall led over ~$300M+ in new construction and/or renovation projects, including the first state-funded LEED facility in the State of MS, and over
$100M+ of off-campus projects using New Market Tax Credits and CRA. In addition, while at JSU, he secured the University’s first-ever rating by a credit agency – A1 from Moody’s, oversaw the issuance of almost $90M in debt, complete restructuring of the debt portfolio using innovative swap and put refunding instruments thereby reducing debt service by over $5M (NPV), restructured the asset allocation for both the University’s ($15M) and Development Foundation’s ($12M) investment portfolio producing above-market returns for 3 years with lower volatility than the market, implemented several measures to reduce overall expenses in areas such as energy usage, procurement, and residence hall maintenance resulting in over $5M in savings, and led the development of a cost model using principles of activity-based cost (ABC) analysis.
Before coming to JSU, Mr. Stovall was Co-Founder and CEO of GulfSouth Capital, Inc. and Managing General Partner of GS Ventures (GSV), LLC. At GulfSouth, Mr. Stovall was responsible for overall investment and fund- raising responsibility for $100M+ across 3 funds: GSV, Palmer Foundation (education and the arts in MS) and John N Palmer’s (SkyTel Founder and Ambassador to Portugal) personal investment portfolio.
Mr. Stovall previously served as a Senior Engagement Manager at the strategy management-consulting firm, McKinsey & Co., where he served firms in the telecommunication services and equipment, computers, specialty chemicals and information technology sectors in areas of operations, organizational design and strategy. Mr. Stovall was a leader in McKinsey’s Telecom Practice where he authored well-reviewed papers on Internet commerce, ISPs and wireless data.
Other professional experiences include Southwestern Bell (in OK and TX), AT&T Bell Labs (in IL) and Rockwell Collins Transmission Systems Division (in TX)
Mr. Stovall has held several leadership positions:
- Appointments to several MS State Commissions by two separate Governors – Governor’s Commission on E-Government and Special Task Force for Economic Development Planning (Gov. Musgrove); Southern Growth Policies Board Technology Council and Governor’s Commission on Tax Reform (Gov. Barbour).
- Appointment by Alpha Phi Alpha Fraternity, Inc. Board of Directors to serve on the Internal Control Review Committee (ICRC) in 2012 to revise the accounting procedures manual for the fraternity.
- Director for Internet America (OTC BB:GEEK.OB, Compensation and Audit Committee-Chair), Parkway Properties (NYSE: PKY, Audit, Governance and Compensation-Chair), Archipelago Learning, LLC (NASDAQ: ARCL, Audit and Compensation), Hope Community Credit Union (Investment Committee), MuniStrategies, MS Symphony Orchestra and Minority Capital Fund of Mississippi, Inc.
- Southern Methodist University’s (SMU) School of Engineering Executive Advisory Board and SMU’s Electrical Engineering Department Advisory Board, from 2000-2004, serving as its first Chairperson.
Mr. Stovall is a frequent speaker on topics including venture capital, motivation, economic development and higher education administration. He has authored or contributed to published documents on wireless data, entrepreneurship, venture capital, economic development and activity-based costing.
Mr. Stovall holds a BS in Electrical Engineering cum laude (’87) from SMU with a minor in Mathematics, MS in Computer Science (’89) from Stanford University and an MBA (’94) from Harvard Business School (1st year Honors).