Cash America International Inc. has named T. Brent Stuart as the company’s new president and CEO when the current CEO retires on Oct. 31.
Stuart is currently the company’s president and chief operating officer. The Cash America Board of Directors announced the changes on Sept. 30. Daniel R. Feehan, the current CEO is retiring on Oct. 31. r 31, 2015.
Stuart joined the company in November 2008. Prior to his current role, Stuart served as the company’s executive vice president and chief operating officer from January 2015 – April 2015, as the senior vice president – operations for the company’s U.S. retail services storefront lending business from July 2010 to January 2015 and as regional vice president from November 2008 to July 2010. Prior to joining Cash America, Stuart held various senior leadership roles in the financial services industry.
“During his tenure at the Company, Brent Stuart has demonstrated success with the key characteristics the Board was seeking in a successor to Mr. Feehan. He has proven to be a respected leader throughout the organization with high standards for integrity, fairness, transparency and accountability,” said James H. Graves, chairman of the chief executive officer search committee of the company’s board of directors. “Brent possesses a deep understanding of our business model and strong business and financial acumen and has impressed the board with both his action-oriented execution skills and his strategic thinking abilities and vision. We are extremely excited about the future of our company under Brent’s leadership.”
As previously announced, Feehan will remain employed by the company until April 30, 2020, serving in a non-officer advisory role following his retirement from the role of CEO. Feehan will remain on the company’s board of directors following his retirement and will serve as executive chairman of the board from November 1, 2015 through October 31, 2016 and then will serve as the non-executive chairman of the board from November 1, 2016 through April 30, 2020, subject to his re-election to the company’s board each year by the company’s shareholders. Jack Daugherty, the company’s founder and current chairman of the board, will continue to serve as chairman until Nov. 1, 2015, at which time he will step down as chairman but will continue to serve on the board.
Fort Worth-based Cash America provides specialty financial services to individuals through over 900 retail locations and has 6,426 employees. The company trades on the Nasdaq under the CSH symbol.