Cardtronics Announces Leadership Transition
(Thomson Reuters ONE) -
Rathgaber to Retire at End of 2017; West Named New CEO
HOUSTON and LONDON, Aug. 21, 2017 (GLOBE NEWSWIRE) -- Cardtronics plc
(Nasdaq:CATM), the world's largest ATM owner / operator, announced today that,
as the culmination of its Board of Directors' long-term succession plan, Chief
Executive Officer Steven A. Rathgaber, 64, will retire from his CEO and Director
roles effective December 31, 2017. Edward H. West, 51, presently Cardtronics'
Chief Financial Officer and Chief Operations Officer, will succeed Rathgaber as
CEO and join the board as a Director.
Rathgaber will work through a transition of the CEO role to West at the end of
2017. A search is underway for a new Chief Financial Officer to replace West,
who will remain in his current position until a new CFO is appointed and will
ensure an orderly transition of responsibilities.
"During Steve's nearly eight years as CEO, he led a period of tremendous growth
in terms of scale, geographic presence, operating infrastructure and
organization," said Dennis Lynch, chairman, Cardtronics Board of Directors. "He
has positioned the company as the premier ATM platform provider in multiple
markets around the world, preparing Cardtronics for its next stage of growth as
the financial services industry continues to evolve. The building blocks are in
place to drive the next leg of growth for Cardtronics, and Ed is the right CEO
to lead the transformation of our industry and the company. This is the next
step in an orderly succession planning process that has been underway with the
board for the last two years."
"During this time of rapid change and complexities within the banking, financial
services and payments industries, there is no better person to lead Cardtronics
than Ed West," said Rathgaber. "Ed is a dynamic leader whose vision is exactly
what Cardtronics, its clients and shareholders need as the company enters its
next period of solution innovation and growth."
West is currently responsible for leading Cardtronics' financial functions,
planning, corporate development and consolidated global operations. He joined
Cardtronics in January 2016, following a 25-year career in senior executive
roles, including CEO and CFO, at a number of large public and private
corporations, from an early stage technology firm to a Fortune 100 company, with
experience in the financial services, education, technology and business
services and aviation industries. West received the "CFO of the Year" award
from Institutional Investor Magazine in 2012 and was previously named one of the
"Top 40 Under 40" by CFO Magazine.
"Cardtronics has a unique combination of financial institution and retail
relationships, global distribution scale and innovation focus, and I am honored
to have the opportunity to lead the company," said West. "The evolution of
banking, payments and financial services creates vast opportunities for
Cardtronics, and our future is bright. I look forward to working with the team
to capitalize on these opportunities."
Rathgaber joined Cardtronics in January 2010, following a 30+ year career in
senior leadership positions with a number of organizations in the banking,
financial services and payments industries. During his tenure, Rathgaber has
transformed Cardtronics from a leading U.S. ATM deployer, with approximately
30,000 ATMs owned and operated, into the number one ATM specialist worldwide -
providing services for nearly 237,000 ATMs in 11 countries on four continents.
Over this period, annual transactions on the Cardtronics fleet have grown from
400 million annually to over 2 billion, while annual revenues have grown from
less than $500 million to nearly $1.5 billion. Rathgaber has guided Cardtronics
through 19 acquisitions during this period.
"Over the last two years, we have reconstituted our executive team with proven
industry leaders that together form an extraordinary team," said Rathgaber. "I
take great comfort knowing that the company has such deep talent at its disposal
to serve our clients and consumers around the globe. I am confident that Ed will
continue to drive Cardtronics to new heights of growth and profitability."
About Cardtronics (Nasdaq:CATM)
Making ATM cash access convenient where people shop, work, and live, Cardtronics
is at the convergence of retailers, financial institutions, prepaid card
programs, and the customers they share. Cardtronics provides services to
approximately 237,000 ATMs in North America, Europe, Asia-Pacific, and Africa.
Whether Cardtronics is driving foot traffic for top retailers, enhancing ATM
brand presence for card issuers or expanding card holders' surcharge-free cash
access, Cardtronics is convenient access to cash, when and where consumers need
it. Cardtronics is where cash meets commerce.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This earnings release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, and are intended to be covered by the safe harbor
provisions thereof. These forward-looking statements are based on management's
current expectations and beliefs concerning future developments and their
potential effect on Cardtronics and there can be no assurance that future
developments affecting Cardtronics will be those that are anticipated. All
comments concerning Cardtronics' expectations for future revenues and operating
results are based on its estimates for its existing operations and do not
include the potential impact of any future acquisitions. Cardtronics' forward-
looking statements involve significant risks and uncertainties (some of which
are beyond its control) and assumptions that could cause actual results to
differ materially from its historical experience and present expectations or
projections. Risk factors are described in Cardtronics' 2016 Form 10-K, and
those set forth from time-to-time in other filings with the Securities and
Exchange Commission. Readers are cautioned not to place undue reliance on
forward-looking statements contained in this earnings release, which speak only
as of the date of this earnings release. Cardtronics undertakes no obligation to
publicly update or revise any forward-looking statements after the date they are
made, whether as a result of new information, future events, or otherwise.
Contact Information:
Media Relations
Nick Pappathopoulos
Director - Public Relations
832-308-4396
npappathopoulos(at)cardtronics.com
Investor Relations
Phillip Chin
EVP Corporate Development & Investor Relations
832-308-4975
ir(at)cardtronics.com
Cardtronics is a registered trademark of Cardtronics plc and its subsidiaries
All other trademarks are the property of their respective owners
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cardtronics, Inc. via GlobeNewswire
Datum: 21.08.2017 - 22:05 Uhr
Sprache: Deutsch
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