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Encore Introduces New Board Chair And Directors, Announces Senior Executive Promotions

SAN DIEGO, Feb. 24, 2014 /PRNewswire/ -- Encore Capital Group, Inc. (Nasdaq: ECPG), an international specialty finance company, announced today the appointment of Willem Mesdag as non-executive board chairman of the board and Laura Olle and Richard Srednicki as new directors. Additionally, the company announced the promotion of Ashish Masih, Jim Syran and Manu Rikhye to Executive Vice President positions.

(Logo: http://photos.prnewswire.com/prnh/20131107/LA13022LOGO)

Mesdag will succeed George Lund, who has served as executive chairman since July 2009 and as a director since 2007.

Lund said, "To watch the trajectory of this company over the years has been truly impressive, and I'm proud to have been a part of it. However, the most rewarding part of my Encore board tenure has been the talented team of people with whom I've had the chance to work. Because of their strengths, I am confident that Encore will continue to be an industry leader. One of those great people is Will, who started with me as a director seven years ago, and in whose very capable hands I expect the board to thrive."

Mesdag also joined Encore's board in 2007. He is the Managing Partner of Red Mountain Capital Partners LLC, an investment advisor. He is also a director of Destination XL, Inc., and Nature's Sunshine Products, Inc. Before establishing Red Mountain, Mesdag was a partner of Goldman, Sachs & Co. He holds a bachelor's degree from Northwestern University and a JD from Cornell Law School.

"I'm honored to have this opportunity to lead the Encore board," said Mesdag. "Ken and the management team have put forward a strong vision for where this company is headed, and I'm excited to work with them to bring about its fullest potential." 

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