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Cardinal Strategy Group acquires distressed, underperforming and insolvent middle market companies through equity syndication.  Cardinal also provides turnaround consulting and interim management, offering strategic leadership and hands-on management for recovery and growth.




Carter Pennington
Managing Director

With thirty years experience navigating companies through operational turnaround and restructuring, Carter Pennington spearheaded exceptional profit and performance improvements for multinational firms in diverse industries.  Developing and executing strategies that swiftly stemmed losses, recaptured revenue and restored profitability, he has consistently increased stakeholder value in the most challenging circumstances.


Carter Pennington assumes leadership roles in distressed and underperforming companies.  Working as interim CEO, CRO, CFO or as a strategic advisor, he works side-by-side with company management to create change and increase stakeholder value.


In 2004 he launched Cardinal Strategy Group, after working as a director in the Turnaround & Restructuring Group of AlixPartners and as a strategic planning consulting with Novations Consulting Group.  His client engagements included Fortune 500 and middle-market companies in manufacturing, energy, publishing, hospitality, telecommunications, apparel and consumer products.


Prior to branching out into management consulting, Carter was the Senior Vice President of Finance and Operations at GFT International, Director of Business Planning at Revlon and held business planning positions at Bristol-Myers Squibb and Ernst & Young.


Carter is a member of the Turnaround Management Association, American Bankruptcy Institute, the Association for Corporate Growth and served on the Board of Directors for the ARC Mercer.  He has participated in numerous speaking engagements on turnaround management and corporate growth.  He graduated with honors from the City University of New York at Brooklyn College and earned an MBA from the Johnson Graduate School of Management at Cornell University.