D’Addario has announced that Richard LaBonté has accepted the position of chief commercial officer, and Shabbir Ahmed has joined the company as chief financial & administrative officer. Both are newly-created positions.
As CCO, Richard LaBonté will be responsible for the commercial strategy and development of the organization, relating to marketing, sales, product development, artist relations and customer service to drive business growth and market share. LaBonté will report directly to Jim D’Addario, CEO.
“Richard’s multi-disciplinary experience and education will allow him to move seamlessly between the creative, financial, entrepreneurial, business development, and marketing worlds,” says Jim D’Addario. “We are very confident that his diverse background, passion for music, and impressive record of accomplishments will add a new dimension to our management team and our strategic direction. We are thrilled to welcome him to the company.”
LaBonté’s interesting background starts with a professional career in finance working as a Cost Accountant and Senior Financial Analyst at Monsanto, a Fortune 500 agricultural company. LaBonte moved to Citigroup where he rose to the position of Vice President of Product Development and managed a sales team that introduced innovative financial services to a multi-cultural market. Later, LaBonté became a Principal at LaBonte Music and Media, LTD, overseeing a boutique marketing and creative content agency that supported clients in the digital advertising, music publishing, software, and music technology industries. Most recently, LaBonté was Vice President at Brighton Agency where he was responsible for developing new business opportunities, leading product management and launch strategies, running point on national ad campaigns, and leading branding engagements.
LaBonté received his Bachelor of Science in Accountancy from the University of Illinois and his MBA in Marketing Strategy and International Business from the Olin Business School at Washington University. He is also an active drummer.
As CF&AO, Ahmed will work to develop and execute the company’s overall strategy by driving all business planning activities, monitoring profit opportunities, and protecting the organization’s financial health through robust systems and solid internal controls. Additionally, he will work across all levels of the organization to encourage and reinforce D’Addario’s LEAN culture. As CF&AO, Ahmed will direct the efforts of Director of IT, Amal Abbasi, CFO, Rob Dodaro, and Ray Irizarry, Director of HR. Ahmed will report directly to John D’Addario III, president.
“Shabbir’s professional background is very broad and global in nature,” says John D’Addario III. “His prior business associates have described him as having a great ability to think conceptually, strategically, and operationally, with an impressive skill set in systems development and finance. We are looking forward to further growth with Shabbir at the healm.”
Most recently, Ahmed was a partner with Princeton Global Synergies, where he focused on international business development for companies located in Asia, Europe, the Middle East, Africa, and North America. He assisted clients in sustaining their global competitiveness through LEAN management and cost optimization. Prior, Ahmed was a senior financial executive with companies including Stanley Black & Decker, Johnson Controls, and AGA. During his tenure, Ahmed oversaw the development of new entities and joint ventures in Europe, leading major IT investments in ERP systems, re-engineering processes to secure timely, high-quality standard reporting tools, successfully concluding mergers and acquisitions, and directing the full integration of newly-acquired companies.
Ahmed received his MBA from Webster University in Vienna, Austria. He is multi-lingual and is a musician, having performed semi-professionally in several countries.
