Cardtronics Intensifies Focus on Growth
*Cardtronics launches Enterprise Growth Group
*Names David Dove as Group President, bringing his 30 years of payments and
retail financial services industry experience in-house
*Dove to focus on strategic initiatives including transaction share growth,
new products, consumer experience, mergers and acquisitions, strategy
development and business analytics
HOUSTON, Aug. 26, 2013 (GLOBE NEWSWIRE) -- Cardtronics, Inc. (Nasdaq:CATM),
the world's largest retail ATM owner, today launched the Enterprise Growth
Group — a new internal organization focused on strategic initiatives to
leverage and extend the strengths of the company for sustained profitable
growth. Assuming leadership of this new organization, David Dove has joined
Cardtronics' senior leadership team as Group President of Enterprise Growth,
reporting to CEO Steve Rathgaber.
Dove now brings his 30 years of payments and retail financial services
industry experience in-house at Cardtronics, having served the company as a
strategy consultant since 2009 as part of his role as Managing General Partner
of Dove Capital Partners. During that time, Dove made significant
contributions to key initiatives, including the recent acquisition of
Cardpoint Limited, which more than doubled Cardtronics' ATM portfolio in the
United Kingdom and expanded the company's footprint into Germany.
Cardtronics CEO Steve Rathgaber said:
"Cardtronics now provides convenient access to cash at more than 80,000
locations situated in premier retail locations in North America and Europe,
representing growth of approximately 50,000 ATMs in the past three-plus
"A diverse growth engine has powered the expansion of Cardtronics in recent
years, with contributions coming from organic- and acquisition-based growth,
as well as ATM traffic-driving initiatives increasingly tied to an enhanced
consumer experience by way of product innovation. David Dove, given his
extensive payments and financial services background, combined with his
intimate knowledge of our business, is well suited to help Cardtronics enter a
new era of blended growth highlighted by product development."
Cardtronics Enterprise Growth Group President David Dove said:
"In the four years I have worked with Cardtronics as a consultant, I have had
an opportunity to work with a very talented team to help position the company
for sustained and profitable growth. Steve Rathgaber gave me an opportunity to
come inside to help drive the company forward, and in doing so build on what
has become a very powerful growth platform."
"We interact with more than a million consumers every day — and are visible to
many more as they pass by our portfolio of convenient locations during their
daily routine. Given this unrivaled distribution network combined with the
position we have established at the intersection of hundreds of financial
institutions and thousands of premier retail partners, I am confident that we
have growth potential ahead of us."
Overview: Cardtronics Enterprise Growth Group
Cardtronics' newly created Enterprise Growth Group, under the leadership of
David Dove, will provide dedicated support to CEO Steve Rathgaber, focusing on
the development and execution of strategic growth initiatives including
transaction share growth, new products, consumer experience, mergers and
acquisitions, strategy development and business analytics. Consequently the
core and next-generation product functions, corporate marketing, business
analytics, as well as mergers and acquisitions teams will fold into the
Enterprise Growth Group. Specific to mergers and acquisitions, Phil Chin has
joined the company, having been appointed to the newly created Executive Vice
President of Corporate Development role. Chin, previously a director in
Barclays Investment Bank's Global Technology, Media and Telecommunications
Group, will manage the M&A pipeline at Cardtronics, reporting to Dove.
Biographical Highlights of David Dove
David Dove has been appointed as President of the newly formed Cardtronics
Enterprise Growth Group, effective Sept. 1, 2013.
Dove is currently Managing General Partner of Dove Capital Partners LLC, which
provides consulting support to leading banks, credit unions, card issuers,
card associations, electronic funds transfer (EFT) networks, merchant
acquirers, processors, technology firms and terminal deployers. In this role,
Dove has supported Cardtronics since 2009, focusing on strategy development,
growth opportunities in the payments and retail financial services markets, as
well as mergers and acquisitions.
Prior to Dove Capital Partners, David Dove founded and ran the Dove Consulting
Group for more than 25 years. Serving as CEO, Dove grew the firm, both
organically and through acquisition, into a well-known and respected firm in
the payments and consumer packaged goods industries. In 2005, Dove sold the
firm to the U.S. consulting subsidiary of Hitachi, becoming the Managing Vice
President of both the Financial Services and Strategy practices.
Dove holds a master's degree from MIT in aeronautics & astronautics; an MBA
from the Boston University School of Management; and an undergraduate
engineering degree from North Carolina State University.
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 owns/operates
more than 80,100 retail ATMs in U.S. and international locales. Whether
Cardtronics is driving foot traffic for America's most relevant retailers,
enhancing ATM brand presence for card issuers or expanding card holders'
surcharge-free cash access on the local, national or global scene, Cardtronics
is convenient access to cash, when and where consumers need it. Cardtronics is
where cash meets commerce.
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Nick Pappathopoulos Chris Brewster
Director – Public Relations Chief Financial Officer
Cardtronics is a registered trademark of Cardtronics, Inc.
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