Cash America International Inc. announced Monday that Daniel R. Feehan has agreed to serive as the company’s CEO until Oct. 31, 2015.
Feehan, currently president and CEO, said in July 2014 he planned to retire on April 30, 2015. Feehan has also agreed to remain employed by the company until April 30, 2020 to serve in a non-officer advisory role. Feehan will remain on the company’s Board of Directors following his retirement on Oct. 31, 2015 and will serve as executive chairman of the Board from Nov. 1, 2015 through Oct. 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.
The company also announced that T. Brent Stuart, the company’s current executive vice president and chief operating officer, will assume the role of president and chief operating officer of the company effective as of May 1, 2015.
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.
I am pleased to continue my service as chief executive officer for an additional six months while the Board’s search committee completes the succession planning process and names a successor chief executive officer, which is expected to occur during that timeframe. I am also honored that the board has asked for me to serve for an additional twelve months as executive chairman, which will allow me to take an active role in assisting and mentoring my successor during an important transition period,” said Feehan.