AUSTIN, Texas, May 24, 2012 /PRNewswire/ -- EZCORP, Inc. (NASDAQ: EZPW), a leading provider of instant cash solutions for consumers, announced today plans to reorganize its senior executive structure to provide strategic support for continued rapid expansion, domestically and internationally.
MARK KUCHENRITHER has been promoted to Executive Vice President of EZCORP. In his new role, Mr. Kuchenrither will continue as President of the Company's Change Capital subsidiary where he is responsible for managing all of EZCORP's acquisition and investment programs. He will now play an even larger role in the oversight and integration of these activities by assuming additional supervisory responsibility for the Company's Finance Department. Stephen Stamp, Chief Financial Officer of EZCORP, will report to Mr. Kuchenrither.
Over the past two years, Mr. Kuchenrither has directed strategic planning for the Company and has managed its acquisition and investment efforts. During this period, the Company has completed numerous pawn store acquisitions, adding multiple new market areas for EZCORP, and has acquired rights to the Cash Converters brand in Canada and for key markets in the United States. Mr. Kuchenrither led the development and introduction of the Company's proprietary, general purpose, reloadable Change debit card, and was responsible for the Company's acquisition of controlling interests in both Crediamigo, a specialty consumer finance company based in Mexico, and Cash Genie, an online lending company headquartered in the United Kingdom.
Paul Rothamel, President and Chief Executive Officer of EZCORP, said: "Mark has made a significant contribution to our success by adding new products, markets and talent to the Company, which will help drive growth for many years to come. He brings a unique and valuable combination of business acumen and financial experience to our executive team."
Kuchenrither has had an impressive career in both public and private companies. After a number of years in operations and finance, including service as Chief Financial Officer at Peavey Electronics and Arch Aluminum and Glass, he joined Sun Capital Partners, a premier private equity firm, in 2007. As Vice President, Operations at Sun Capital, he had P&L responsibility for ten portfolio companies in diversified industries. He joined EZCORP in 2010 as Senior Vice President for strategic development before being elevated to President of Change Capital in 2011.
Sterling Brinkley, EZCORP Chairman added, "The entire Board shares Paul's high regard for Mark's accomplishments and abilities. He has done an impressive job in leading our expansion and investment strategy over the past two years. His systematic approach and strong leadership have enhanced our worldwide business opportunities, and he has proven a strong partner to Paul as they have continued to grow EZCORP throughout the world."
EZCORP is a leading provider of instant cash solutions for consumers. Through more than 1,200 company-operated pawn, buy/sell and personal financial services stores in the U.S., Mexico and Canada, we provide a variety of instant cash solutions, including pawn loans, consumer loans, and fee-based credit services to customers seeking loans. At our pawn and buy/sell stores, we also sell merchandise, primarily collateral forfeited from pawn lending operations and used merchandise purchased from customers.
EZCORP owns controlling interests in Prestaciones Finmart, S.A.P.I. de C.V., SOFOM, E.N.R. (doing business under the name "Crediamigo"), a leading provider of payroll deduction loans in Mexico, and in Artiste Holding Limited (doing business under the name "Cash Genie"), a leading provider of online loans in the U.K. The company also has significant investments in Albemarle & Bond Holdings PLC (ABM.L), one of the U.K.'s largest pawnbroking businesses with over 170 full-line stores offering pawnbroking, jewelry retailing, gold buying and financial services; and in Cash Converters International Limited (CCV.L and CCV.ASX), which franchises and operates a worldwide network of over 600 stores that provide personal financial services and sell pre-owned merchandise.
SOURCE EZCORP, Inc.