Two weeks ago the out of home vendor Formetco announced the hiring of Eric Pogue for the role of VP of Strategy and Finance. Insider talked with Pogue about his background, why he joined Formetco and how Formetco is dealing with COVID.  Impressive to hear that Formetco expects to see year over year increases in revenue and profit in the fourth quarter of 2020.

Eric, what’s your background?

My career has been a combination of finance, operations, strategy, and leadership. Early in my career, I was a commercial banker which provided a great framework for business understanding. Later I worked at Sun Capital Partners, a premiere private equity group based in S. Florida. While at Sun Capital, I was able to see why certain companies succeeded while others failed. I worked with some amazing management teams and some not-so-amazing management teams. My experience at Sun Capital helped shape my perspective as to what makes a great company. Later in my career, my experience shifted from finance-related advisory work to operational, strategic and leadership responsibilities. I have been the CFO for two large private equity held portfolio companies and most recently I was the CEO of a manufacturing and fulfillment company. I am a Chartered Financial Analyst who also loves the sales process and working with talented teams to achieve their goals.

What brought you to Formetco?

That question is simple. Character. The character of the people and the character of the overall organization is the primary reason why I joined Formetco. I have known Matt Xander, Formetco’s CEO, for nearly 10 years and he sets the tone for the character of Formetco.

What’s your job at Formetco

My primary role is to support Matt Xander and the team by providing leadership in the Finance department. In addition, my experiences with other companies will help provide a fresh perspective to the team as we look to finish 2020 strong and continue to grow aggressively in 2021 and beyond.

How is Formetco doing in the midst of covid?

While the overall industry is slowing down, Formetco is poised to have its strongest quarter of the year. Others are cutting back in R&D, slashing selling expenses, and pairing back on inventory.  Formetco has grown market share by consistently delivering high quality, reliable, energy efficient products on-time. Our service team is highly responsive and that makes a huge difference. Throughout our history, Formetco has focused on the overall relationship of our clients, and not the bottom line of each individual project. That philosophy has served us well during these times.

What do 4Q 2020 and 2021 look like?

We anticipate that our fourth quarter will be the best quarter of 2020 for Formetco and will exceed the strong performance we experienced last year (in both revenue and profitability). We are in the process of creating the 2021 plan and are evaluating strategic expansions. Although not fully developed at this time, we absolutely expect continued growth in 2021.

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