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8-K - FORM 8-K - EZCORP INC | d71001e8vk.htm |
EX-10.1 - EX-10.1 - EZCORP INC | d71001exv10w1.htm |
Exhibit 99.1
EZCORP®
EZCORP NAMES PAUL ROTHAMEL PRESIDENT AND
ANNOUNCES CEO SUCCESSION PLAN
ANNOUNCES CEO SUCCESSION PLAN
AUSTIN, Texas (February 10, 2010) EZCORP, Inc. (Nasdaq: EZPW) announced today that Paul E.
Rothamel has been named President, in addition to his role as Chief Operating Officer, and has also
been elected to the Board of Directors. The Company also announced that the Board has designated
Mr. Rothamel as the successor to current Chief Executive Officer, Joe Rotunda, effective when Mr.
Rotunda retires, which is expected to be within the next year.
Mr. Rothamel, 45, joined EZCORP in September 2009 as Executive Vice President and Chief Operating
Officer, with executive management responsibility for all of EZCORPs operations. In his new role,
Mr. Rothamel will also manage the Companys strategic development, marketing, human resources and
loss prevention functions. The Companys Chief Financial Officer and the General Counsel will
continue to report to Mr. Rotunda, along with Mr. Rothamel.
Mr. Rotunda said, I am pleased with the Boards decision to name Paul EZCORPs next CEO. I have
been very impressed with how quickly he has grasped the complexities and nuances of our business
and look forward to continuing to work closely with him. Paul has a solid track record of business
success and brings fresh vision and well-developed organizational skills. This announcement
reflects months of thoughtful succession planning by the Board, as well as management, and is a
part of our ongoing efforts to ensure a seamless transition to the next generation of EZCORP
leaders.
Prior to joining EZCORP, Mr. Rothamel was President and Chief Executive Officer of Pamida, an $800
million chain of general merchandise and pharmacy stores. Mr. Rothamel spent twelve years at
Pamida and ShopKo Stores, Inc. in various senior executive positions. Since 2005, both Pamida and
ShopKo have been owned by Sun Capital Partners, a leading private equity firm. Before joining
ShopKo in 1997, Mr. Rothamel held a variety of operational positions with other multi-unit
retailers.
About EZCORP
EZCORP provides loans or credit services to customers who do not have cash resources or access
to credit to meet their short-term cash needs. In its pawnshops, the company offers non-recourse
loans collateralized by tangible personal property, commonly known as pawn loans. At these
locations, the company also sells merchandise, primarily collateral forfeited from its pawn lending
operations, to consumers looking for good value. The company also offers a variety of short-term
consumer loans, including payday loans, installment loans and auto title loans, or fee-based credit
services to customers seeking loans.
At December 31, 2009, EZCORP operated a total of 920 locations, consisting of 370 U.S. pawnshops,
70 pawnshops in Mexico, 472 U.S. short-term consumer loan stores, and 8 short-term consumer loan
stores in Canada. The company also has significant investments in Albemarle & Bond Holdings PLC
(ABM.L), one of the U.K.s largest pawnbroking businesses with 115 stores, and Cash Converters
International Limited (CCV.L and CCV.AUS), which franchises and operates a worldwide network of
over 500 financial services and second-hand retail stores.
For additional information, contact Investor Relations at (512) 314-2220.