Until the summer after his sophomore year at Ithaca College in upstate New York, the furthest David Storch had traveled from his Long Island, N.Y., home was Buffalo.
After his sophomore year Storch made up for this lack of wanderlust in a big way. He and two childhood buddies took a year off from school to travel across the United States. Their destinations included Niagara Falls, Green Bay, Wis. (“to throw footballs at Lambeau Field”), Chicago, Texas, Las Vegas (“we came with $300 and left with $15”) and finally Los Angeles, where they spent almost three months.
Along the way they worked at odd jobs to get cash. One of these jobs, selling Christmas trees in Los Angeles, changed Storch’s idea on what he wanted to do for a career, he says.
“Up until then, I’d thought I wanted to be a lawyer like my dad, a securities attorney,” Storch said. “That seemed logical. After selling those Christmas trees I realized that I wanted to go into business. I liked the excitement of selling and convincing people to buy something. I cleared several hundred dollars. I discovered I was very good at selling.”
When Storch returned to Ithaca the following fall, he kept his general studies major but also took almost every labor management relations course Ithaca College and neighboring Cornell University offered.
“I loved collective bargaining, particularly the mock negotiating sessions,” says Storch, who made the dean’s list for the first time in his college career and stayed on it through graduation.
The combination of sales moxie and negotiating training came in handy during Storch’s first job after graduation. A neighbor, who owned a magazine publishing company, asked him if he would be interested in selling advertising for two of the company’s magazines.
“I hit the ground running,” said Storch, who started in New York but was soon transferred to the firm’s Chicago office for training. “I got very lucky and won the company’s sales contest the first month I was there.”
Today Storch, 53, is chairman, president and chief executive officer of AAR Corp., the Wood Dale-based provider of products and services for the aviation/aerospace industry.
Q. How did you select your mentors?
A. By watching people I learned early on that you can be a good leader but a horrible business executive or a good business executive but a horrible leader. Good mentors cover the waterfront.
Ned Jannotta, chairman of William Blair & Co., was our investment banker at AAR Corp. and one of our directors. He taught me how to create value and how to balance shareholder and employee interests.
Bob Abboud, retired chairman of First National Bank of Chicago, also was on our board for many years. He taught me the importance of preserving a strong balance sheet while investing in the future.
Q. Was any class particularly valuable to your career?
A. During Watergate I took a course on the American presidency. The professor concentrated on power and the presidency. He categorized power in four ways: those who have power and use it; those who don’t have power but pretend they do; those who have power but don’t realize they have it; and those who don’t have power and know they don’t.
Business situations can be analyzed in exactly the same way.
Q. You’ve spent almost your entire career at one company. What are the pros and cons?
A. Growing a line of business within a company is very invigorating. In 1981 I concentrated on growing our engine parts business, which was at about $100,000. I was able to get a $100,000 line of credit and grew the business to over a couple hundred million in about eight years.
The downside is that I haven’t had a lot of experience outside of AAR Corp. That’s where having been a member of the Young Presidents Organization and now being a member of the World Presidents Organization has helped me immeasurably.
Q. What are the Young Presidents Organization and World Presidents Organization?
A. YPO is an invitation-only worldwide group of company presidents under the age of 50. Your company has to satisfy a number of criteria.
There are national meetings, local meetings and forum group meetings, all designed to mentor young presidents. Forum groups are small geographic groups that meet regularly to confidentially discuss business and personal issues.
It’s an opportunity to share your concerns and issues with peers who come from a similar perspective. In my forum group I’ve been able to get non-judgmental advice that’s really helped me.
When YPO members turn 50 they graduate to the World Presidents Organization.
Q. How has your personal life fared as you’ve moved up the ladder?
A. I met my wife, Leslie, in 1977 here in Chicago. We have three children: Julie, 26, a 5th-grade teacher; Samantha, 23, a design school student; and Michael, 19, who attends Tulane University.
From the beginning Leslie could see the fun and excitement I was having at work. She’s been very supportive of my career. She’s very calm and low-key. We play off well against each other.
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Step by step
2005-present: Chairman, president and chief executive officer, AAR Corp., Wood Dale
1996-2004: President and CEO, AAR
1991-96: President and chief operating officer, AAR
1989-91: Group vice president, Aviation Trading Group, AAR
1986-89: General manager, Aircraft Turbine Center, AAR
1982-86: Manager, engine parts sales, AAR
1981-82: Purchasing manager, AAR
1979-81: Research manager, AAR
1977-79: Branch manager, Communication Channels, Chicago
1976: Sales trainee, Communication Channels, Chicago
1976: Sales trainee, Communication Channels, New York
1975: Summer shoe salesman, New York
1975: Bachelor’s degree, Ithaca College
1974: Wallpaper company manufacturing helper
1973: Gas station attendant, bus boy, counter helper, Christmas tree seller, McDonald’s counter helper and flower seller
1972: Summer painter and maintenance engineer, Westbury Public Schools, N.Y.
1971: Summer golf caddy
