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ConMed CFO Pomilio to retire, firm’s Q3 profit dips

By Eric Reinhardt

Date:

UTICA, N.Y. — ConMed Corp. CFO Luke Pomilio plans to retire after more than two decades with the Utica–based surgical-device maker.

The company announced Pomilio’s retirement during its quarterly earnings conference call Thursday afternoon, which BJNN monitored.

ConMed reported net income of $7.2 million in the third quarter, down from net income of $7.3 million a year ago. Reported net earnings per share were 26 cents in the quarter, the same as year prior, ConMed said in its earnings report.

The company said it has initiated a search for a new CFO. Pomilio will remain in the role until a successor is found “in order to ensure an orderly transition,” the firm added.

“My experience with ConMed started 30 years ago when I was an auditor with Price Waterhouse and ConMed had just gone public with $10 million of revenue. I officially joined the company 22 years ago … and could not have asked for a more rewarding career. I am proud of so many things that the company has accomplished over the years and feel fortunate to have played key roles in both ConMed’s formative years and with the new commercial team that has returned the company to growth,” Pomilio said is his remarks during the conference call.

“I’m excited for Luke … as he has dedicated over two decades of his professional life to our company and his decision to retire at this point is consistent with the personal plans he discussed with me when he accepted the CFO position,” Curt Hartman, ConMed’s president and CEO, said during the conference call. “He’s been a great partner to me and he has been instrumental in the transformation of ConMed.”

ConMed appointed Pomilio as ConMed’s CFO on April 1, 2015, replacing Robert Shallish, Jr. He assumed the role a few months after the company named Hartman president and CEO in November 2014.

Pomilio joined the surgical-device maker as controller in September 1995 and, subsequently, assumed additional responsibilities for certain corporate functions including worldwide operations and select administrative functions.

The company in May 2009 promoted Pomilio to VP, controller, and corporate general manager.

Prior to joining ConMed, Pomilio was a manager at Price Waterhouse LLP.

ConMed (NASDAQ: CNMD) provides surgical devices and equipment for minimally invasive procedures. Surgeons and physicians in several specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology use the firm’s products, ConMed said. It has a direct selling presence in 17 countries, and international sales constitute about 50 percent of the company’s total sales.

ConMed employs about 3,300 people.

 

Contact Reinhardt at ereinhardt@cnybj.com

 

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