Cash America CEO to retire in April 2015 July 23, 2014
Daniel R. Feehan, president and chief executive officer of Fort Worth-based Cash America International Inc., said July 23 he will retire on April 30, 2015.
Feehan, 63, will remain on the company’s board of directors and will assume the role of chairman of the board following his retirement.
Jack Daugherty, the payday lender and pawnshop’s founder and current board chairman, will step down as chairman at that time but will continue to serve on the board.
The specific details of Feehan’s retirement, including the details of any retirement package, are expected to be finalized early next year.
“I am extremely proud to have been a part of the Cash America family for nearly 30 years. We have a wonderful team of dedicated coworkers who exemplify our core values and work hard to provide valuable services to our customers and value for our shareholders. Cash America has a very bright future and I believe the timing for a change in leadership is right for both me and the company,” Feehan said in a news release.
The board has appointed a special committee to search for a new CEO.
Cash America International Inc. trades on the New York Stock Exchange under the symbol CSH.
As of June 30, 2014, Cash America International operated 1,004 locations, including 869 lending locations in 22 states in the United States; 47 pawn lending locations in central and southern Mexico; and 88 check cashing centers operating in 14 states in the U.S.
Additionally, the company offered consumer loans via the Internet to customers in 33 states in the U.S., in the United Kingdom, Australia and Canada.