JACKSONVILLE, Fla., Dec. 31, 2010 /PRNewswire-FirstCall/ -- Global Axcess Corp (OTC Bulletin Board: GAXC) (the "Company"), an independent provider of self-service kiosk solutions, today announced the election of Michael I. Connolly to the Company's Board of Directors, effective immediately. The Board now consists of seven members, including six independent directors.
Michael Connolly is the founder/CEO of Mount Juliet Ventures, a private company dedicated to helping business leaders and owners create exceptional value for companies in transition by combining business development skills and financing capabilities. In this capacity, he has served as CEO or Board member of a variety of both public and private companies, and had responsibility at Mount Juliet Ventures for capitalization, leadership development, profit and loss, and exit strategies for client companies.
Mr. Connolly helped to create value for several private and public national companies including Blockbuster, Jamba Juice, Great Clips for Hair, Chili's, Supercuts, SoftBrands, ElderLife, BuyerZone, Insignia Systems, ElderCarelink, and The Hotel Donaldson. Recently, Mr. Connolly, as President of ElderCarelink, helped to increase sales 30% within 12 months which resulted in the Company reaching sustainable profitability. He then led the sale of ElderCarelink to QuinStreet, a publicly traded digital marketing firm. He continues his work in digital media with companies he owns and operates as well as assisting clients such as BuyerZone.
Mr. Connolly was also founder and President of the Tax and Business Services Division at American Express, Inc. as well as Chief Operating Officer of Trammell Crow Company's North Central Region, one of the nation's leading developers and investors in real estate.
Mr. Connolly began his career with McKinsey and Company as a management consultant and has a BA in History from Pomona College and an MBA with honors from the Harvard Business School.
He serves on the Board of Directors for TableTrac, Inc, and Alternative Motors.
George McQuain, chief executive officer of Global Axcess, commented, "Michael has spent his career working with companies to maximize their growth and profitability strategies and his knowledge of the capital markets and consumer-oriented businesses is extensive. His retail marketing, financial and strategic planning experience makes him an outstanding addition to our actively engaged Board of Directors as we move into an anticipated growth phase at Global Axcess. We look forward to his contributions as Global Axcess continues to build on its superior operational excellence and strong customer service in all of our retail self-service kiosk markets."
Mr. Connolly commented, "Global Axcess is at an inflection point in its diversification strategy as they move aggressively into the DVD rental kiosk space and continue to expand in the ATM marketplace through organic and acquisitive growth. I look forward to contributing my expertise on a variety of diverse and in-depth strategic as well as corporate finance issues and financial advisory activities to create long-term value for Global Axcess shareholders."
About Global Axcess Corp
Headquartered in Jacksonville, Florida, Global Axcess Corp was founded in 2001 with a mission to emerge as the leading independent provider of self-service kiosk services in the United States. The Company provides turnkey ATM and other self-service kiosk management solutions that include cash and inventory management, project and account management services. Global Axcess Corp currently owns, manages or operates more than 4,900 ATMs and other self-service kiosks in its national network spanning 43 states. For more information on the Company, please visit http://www.globalaxcess.biz. For more information on Nationwide Money Services, please visit http://www.nationwidemoney.com.
This press release may contain forward-looking statements. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as: "believes," "expects," "may," "will," "should," or "anticipates," or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. Various important risks and uncertainties may cause the Company's actual results to differ materially from the results indicated by these forward-looking statements. For a description of the risks and uncertainties the Company faces, please refer to, in particular, Part I, Item 1A (Risk Factors), of the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 3, 2010, and other filings of the Company that have been filed with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, and such statements are current only as of the date they are made.
SOURCE Global Axcess Corp