New York Office | Pomeroy Financial Leadership | CFO Consultancy | Mike Pomeroy

Capturing Value and Providing Leadership for Special Situations

Mike Pomeroy | Pomeroy Financial Leadership | CFO Consultancy

Meet Mike Pomeroy

MANAGING DIRECTOR OF

POMEROY FINANCIAL LEADERSHIP

I help companies drive value by providing functional leadership during challenging situations.

I work with private equity portfolio companies and publicly traded companies, both operationally and inorganically, to strengthen the balance sheet, develop the finance team, and prepare for a better future.

At GE, where I began my career, I was fortunate to be chosen for their esteemed Corporate Audit Staff. GE was among the first large-cap companies to put young leaders through extensive on-location operational training, including core financial audit, over a multi-year timeframe. By design, the COO role did not exist across GE. The CFO assumed many of those responsibilities.

Following the Corporate Audit Staff, I focused on GE’s industrial business, putting the extensive training into practice. Some of my major assignments were in Energy, Energy Aftermarket, Electrical Distribution, Transportation Systems (Locomotives and off-highway vehicles) and Aviation.

Following GE, I held multiple divisional CFO roles at Kodak as the company moved through technological disruption. The roles either incorporated growing and expanding digital, or turnaround leadership and execution across multiple areas.

My private equity experience began as CFO of Kodak’s health imaging subsidiary, where I led the marketing, selling, and eventual carve-out of the business to a PE firm under the brand name of Carestream, where I served as CFO and a board member.

Following Carestream, I have had multiple CFO roles and project work from such prominent firms such as Blackstone, Carlyle, Hertz, and Icahn.

My various private equity assignments broadened my early industry experience from mainly industrial to consumer, retail, retail services and automotive. Altogether most of these assignments were turnaround in nature and benefited from my training at GE to drive value in up or down markets.

My passion is to build teams and Operating Systems while driving trust with PE stakeholders through demonstrated accountability and increased portfolio company value.

Capabilities & Experiences

AS A CFO BUSINESS BUILDER

Board Director
M&A, Carve-out, Stand-up, Integrate
Global Liquidity Management
Turnaround Expertise
Cross-functional Value Capture
Operating System Implementation
Finance Organization & Process Design and Build
End-to-end Process Re-design
ERP Implementation/Integration
Strategy Development
Profitable Growth Enablement
HCC to LCC Footprint
Shared Service Center
Public Readiness
Re-Financing/Restructuring
International Assignment
Franchise Model
Interim Public CFO

Accomplishments & Highlights

Member of GE prestigious Corporate Audit Staff
Led Accounting/FP&A team supporting all Steam Turbine and Generator Manufacturing
As global FP&A head for the Locomotives business, was one of only 10 businesses defined as a public reporting segment, hence leading two streams for internal and public reporting. Led Indirect cost and working capital cross business initiatives
As CFO of GE Aviation – Europe, I led the post acquisition stand up for major engine maintenance facilities in Wales, Scotland, and Hungary. While designing and building the Finance teams in each location, the finance team was a key factor transforming the SAP installation into Profit-Loss and working capital by aircraft engine product line, as well as converting the company GAAP and related controls

KODAK

Over a six-year period, the CEO & CFO placed me in the CFO position for all four reporting divisions of the company. Each division required turnaround, excluding the Digital Camera and Printer business. The approach was similar in each division:
- Build out FP&A function (people and process) and operating system
- Tighten delegations of authority on all business deals
- Redeployed the Controller function out of corporate into business segments
- RIFs
- For Photography division, complete restructuring of advertising, in-store endcaps, photofinishing labs, distributor network and manufacturing

Led the Carestream carve-out from Kodak, on the sell and then the buy side (PE) as the CFO and Board Director. Co-led the management presentations and was key member of roadshow and drive to Day One:
- Built standalone global Finance function (~275 EEs)
- Led global HCC to LCC value capture program over three years across all disciplines, netting ~$80M annual savings
- With CIO as direct report, co-led SAP CRM-Sales, CRM-Service and Finance Module implementations
- Led public readiness process, re-financing and roadshow

I was selected by Blackstone’s head of Private Equity Operations to lead the finance function as CFO for a global portco in the Retail Services industry. I led or co-led many positive changes to the business including re-aligning and delayering the national region structure, as well as building out 150 new “district” P&ls and proforma Working Capital. As senior member of IT committee, we then launched an ML/AI based platform years in the making, allowing for more precise scheduling of 30k person workforce.

With a 50% split of domestic versus international revenue (~25 countries), COVID brought a crisis to the business as all retail service performed “on site”. As a result, I led the global business through a liquidity crisis and sale of the US business.

As CFO and VP of Icahn Automotive Services (Pep Boys, AAMCO, PTAC), I led and drove value across multiple vectors:
- Re-built entire Finance team (~ 65 EEs), including all direct reports
- Co-led the restructuring of the entire Field, and associated KPIs
- Co-led $57M cost reductions across Direct Material, Labor, and Indirect

Selected by The Carlyle Group to advise and assist CFO on the Carve-out of Ortho Clinical Diagnostics from Johnson & Johnson. Over a six-month time period, my focus was to build out global finance team, formalize finance transition Services required, build out initial FP&A reporting structure, and co-lead driving value capture across business pre-day one.

Selected by Hertz committee to co-lead PMO process for public spin-off of equipment rental business (“HERC”). With the scope of work executed over an eight-month timeframe, HERC was successfully spun, on the target timeline. Some of the responsibilities execute as PMO:
- Lead 10k and SIM development process
- Ensure separate Oracle instance executed with proper firewall
- Chair TSA development, costing, and formalization process
- Ensure recurring org structure and responsibilities in place pre-spin

Selected by Marlin Equity as interim CFO for small mid-cap to close on acquisition, develop financial reporting, and identify and execute synergies:
- Integrate JD Edwards into Expandable, with one common Hyperion instance
- Revamped financial reporting packages to align with KPIs and Stakeholder
- Co-led synergies execution with other functions

Served as interim CFO for publicly traded REGIS, the number one roll-up of hair salons across the US (5k+). Successfully closed two quarters, remediated material weakness, and drove a renewed focus on salon labor productivity.

Served as interim CFO for Center Lane Partners held Bedding manufacturing and distribution portco, successfully completing acquisition of adjacent company.

Capturing Value and Providing Leadership for Special Situations

Meet Mike Pomeroy

POMEROY FINANCIAL LEADERSHIP

Capabilities & Experiences

Accomplishments & Highlights

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