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Cardtronics Intensifies Focus On Growth

Stocks in this article: CATM

Quick Facts

  • 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 years."

"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."

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