Maryland Stadium Authority’s Chief Financial Officer David Raith Retires

During Mr. Raith’s 30 years of service, the Maryland Stadium Authority (MSA) was entrusted with numerous highly visible projects of increased complexity and geographic diversity.

Dawn Abshire, who served in several integral roles in MSA’s Finance department including as the Fiscal Administrator and Controller, promoted to Chief Financial Officer.

Baltimore, MD - After 30 years of stellar state service, David Raith, the long-time Chief Financial Officer (CFO) of the Maryland Stadium Authority (MSA) has embarked on his well-earned retirement effective August 1, 2023. Mr. Raith joined the MSA team in March 1994 as a Fiscal Specialist. In September 2004, he was promoted to CFO. Since then, Mr. Raith has been responsible for the oversight of the finance department and the preparation of the MSA's annual financial statements.

During Mr. Raith’s tenure, with MSA’s longstanding reputation for on-time, on-budget project delivery, MSA has been asked to take on numerous projects of increasing complexity, with respect to both scope and scale. Perhaps most notably, the 21st Century School Buildings Program, the $1.1 billion partnership with Baltimore City Public Schools. The MSA is the partner that finances, procures, then builds and delivers the 29 modernized school buildings in communities throughout the city.

Under Mr. Raith’s leadership, for the second time in a row, the Maryland Office of Legislative Audits conducted its fiscal compliance audits with the resulting reports containing no findings that warranted mention. This is a significant accomplishment for MSA, and a testament to Mr. Raith and his team, particularly given the increases in project complexity and geographic diversity.

The MSA board, leadership and team were especially pleased and proud when the Baltimore Business Journal recognized Mr. Raith in its 2017 Best in Finance awards as one of Maryland’s best CFOs. 

“All of us at the MSA who have had the pleasure and privilege of working with Mr. Raith, wish him well,” said Michael J. Frenz, Executive Director, MSA.

Mr. Raith’s successor, Dawn Abshire, was introduced at the August 1, 2023 MSA Board of Directors meeting. Prior to her promotion to CFO, Ms Abshire served in several integral roles in MSA’s Finance department including as the Fiscal Administrator and Controller.

“The MSA is extremely pleased with the well-deserved promotion of Dawn Abshire to CFO. During her 33 year career with MSA, Ms Abshire has served in integral leadership roles, all which have been important to the Finance team’s continued success,” said Michael J. Frenz, Executive Director, MSA.

BIOGRAPHIES

David Raith
David Raith joined the Maryland Stadium Authority (MSA) in March 1994 as a Fiscal Specialist. In September 2004, he was promoted to Chief Financial Officer. Raith is responsible for the oversight of the finance department and the preparation of the MSA's annual financial statements. Prior to joining MSA, Raith held the position of Assistant Controller for Quality Brands, Inc., a local liquor distributor. Raith graduated in December 1985 from Shepherd College with a Bachelor's Degree in Business Administration. He received his CPA in August 1998 and is a Certified Fraud Examiner. In 2017, Raith was named one of Maryland’s best CFOs by the Baltimore Business Journal.

Dawn Abshire
Dawn Abshire, joined the Maryland Stadium Authority (MSA) in 1990 and has served in several integral roles in the Finance department including as the Fiscal Administrator and Controller. With the announcement of David Raith’s retirement, Abshire was promoted to Chief Financial Officer effective August 1, 2023 and is responsible for the oversight of the Finance department and the preparation of the MSA's annual financial statements. During her 33 year career at MSA, Abshire had an enviable front row seat during the planning, financing and building of the MSA’s first and most famous project, Oriole Park at Camden Yards, the historic renovation of the Hippodrome Threatre and the construction of various entertainment and education facilities across the state. Abshire earned her Bachelor's degree from Towson University and is a Certified Public Accountant (CPA).