EZCorp pawn shops promotes vet to CEO
Pawn store operator EZCorp Inc. has promoted its chief operating officer after chief executive officer Joseph Rotunda announced he's retiring at the end of this month, according to the Austin (Texas) Business Journal
This isn't surprising news for President and COO Paul Rothamel, because he has been working towards filling his new CEO role since Rotunda stated his resignation plans in February.
Rothamel was originally hired last September as executive vice president and COO, adding president to his title in February. Before EZCorp, he worked as president and CEO at department store chains Pamida and ShopKo Stores Inc.
Rotunda, who had served as CEO for 10 years, is leaving the Austin-based company and its board of directors, but will continue working as a consultant.
“It has been my privilege to have led EZCorp. during a period of tremendous growth and development, and I am proud of our business accomplishments and the team we have built,” Rotunda said in a prepared statement. “I am also pleased to be able to pass on the leadership role to such a strong and capable executive.”
EZCorp, Austin's fifth-largest public company, operates 979 pawn stores in the U.S., Mexico and Canada under the EZPawn, EZMoney Loan Services, EZMoney Payday Loans and EZ Loan Services brand names.
The operator also holds about 29 percent of the outstanding shares in Albemarle & Bond Holdings, one of the United Kingdom’s largest pawnbroking businesses with more than 130 stores.
Chairman Sterling Brinkley said in a company release that Rothamel's appointment as EZCorp
's CEO is coming after several months of careful and thoughtful planning.
“Paul has a solid track record of business success, fresh vision and well-developed organizational skills,” Brinkley continued. “We are confident that he is the right leader to continue and even accelerate the growth momentum we have developed over the last decade.”
This includes several areas where EZCorp intends to expand and develop its business further: new products and services, enhanced customer service; targeted acquisitions; and worldwide expansion.
Rothamel said in a statement that Rotunda's resignation is a huge loss, but the company has a great team in place that will work on developing the aforementioned growth priorities.
“I look forward to working with Joe, the board, our senior management team, and all of our associates as we work hard to take our company to the next level,” Rothamel stated.
This announcement is coming after EZCorp. added former Pepsi Bottling Group Mexico president and CEO Pablo Lagos Espinosa to its board of directors.
Lagos Espinosa brings more than 30 years of leadership experience to the pawn operator as it prepares to expand in Mexico and other international cities. The company first expanded south of the Rio Grande in 2007 and has continued since, opening 50 stores in Mexico this year.
“Pablo brings to our board substantial executive management, organizational leadership, operating and sales experience in Mexico and other parts of Latin America, areas that we anticipate will continue to provide robust opportunities for growth,” Brinkley said in a prepared statement.
These changes are coming while VP and Chief Accounting Officer Danny Chism is still temporarily filling the role of chief financial officer after Brad Wolfe left EZCorp in May.
The List Database was unable to identify which agencies, if any, that EZCorp works with.
1901 Capital Parkway
Austin, TX 78746
President & Chief Executive Officer
Vice President, Strategic Development