Regional Management Corp. (NYSE: RM), a diversified specialty consumer finance company, announced today that it has appointed Donald (“Don”) Thomas as its new Chief Financial Officer, effective January 1, 2013. Previous CFO Robert D. Barry will remain with the Company to assist with the transition process and will officially retire from the Company on January 15, 2013.
Mr. Thomas has over 30 years of finance and accounting experience in public and private companies , having been most recently CFO of TMX Finance, a $700 million title lending company, since 2010. Prior to TMX Finance, Mr. Thomas spent 17 years at 7-Eleven, Inc. in various positions, including interim CFO, Vice President, Controller and Chief Accounting Officer. He has also held positions at The Trane Company and Deloitte & Touche LLP. Mr. Thomas is a Certified Public Accountant, and received his BBA with honors in Accounting and Finance from Tarleton State University.
“We are excited to welcome Don to the Regional Management team and are confident that he will be an instant and valuable contributor to the Company given his extensive experience and success at his prior positions,” said Thomas Fortin, Chief Executive Officer of Regional Management Corp. “Don will play an integral role in our growth strategy as we continue to open de novo branches in our current geographies and expand into additional states. Further, we believe his significant accounting and financial experience will ensure that we are well positioned from a balance sheet standpoint as we continue to build the Company. In addition, we want to reiterate our profuse thanks to Bob for his outstanding work and instrumental contributions to our Company over the past several years, and we congratulate Bob as he enjoys his well-deserved retirement.”
“Being able to join a dynamic company with strong momentum such as Regional Management Corp. was an easy decision, and I look forward to working closely with Tom and the Regional team,” said Mr. Thomas. “Regional Management has seen significant and profitable growth over the past several years while maintaining a solid balance sheet, and we plan on continuing down that path while ensuring that our cost structure is properly aligned with our strategy and top-line performance.”