Finding Ways to Succeed

avid Abbott’s path to graduation was anything but easy. While balancing his academics and working 35 hours a week flipping burgers, he fell seriously ill with mononucleosis. The illness forced him to step away from school, and he eventually flunked out. After recovering, he returned to Auburn again and earned a degree in business administration in 1969 as well as a degree in engineering in 1971. Abbott went on to become known for helping companies increase performance, grow profits and prepare for successful sales.

At Ivy Industries, where he served as development manager, part-owner and chief executive officer for 15 years, he built a new plant, vertically integrated operations and grew sales from $2.5 million to $15 million. As president of Reinhart Fajen, a manufacturer of custom wooden gun stocks, he drastically reduced turnover by shifting hiring decisions from HR to the employees themselves, who helped vet out and select new team members. Later, while at Aqua-Chem, the chief executive officer advised Abbott against pursuing a high-risk lead. But Abbott trusted his gut, and it paid off. He secured a $125 million military contract for the company.