Appointment of Stuart Grimshaw as Director
Sydney, Sep 23, 2014 AEST (ABN Newswire) - Cash Converters International Ltd (
ASX:CCV) (CKKIF:OTCMKTS) ("the Company") advises that Mr Stuart Grimshaw will join the board of directors with effect from 1 November 2014. Mr Grimshaw's appointment completes the director representative changes made by EZCORP Inc to the Board of the Company.
Mr Grimshaw has served as Managing Director and Chief Executive Officer of Bank of Queensland Limited since November 2011.
During his tenure at BOQ, Mr Grimshaw initiated fundamental changes to BOQ's culture, operating model and strategic direction and established a strong track record of execution. In addition, a strong capital and provisioning strategy resulted in two credit rating upgrades to A-, and BOQ has been well supported by the equity markets with two global equity offerings successfully raising close to $800 million. In Mr Grimshaw's time at the bank, BOQ attracted and developed exceptional talent across the top four management levels and a unique culture and brand that is now well recognized by the market.
During his 30-year career in financial services, Mr Grimshaw has held a wide variety of other roles across many functions of banking and finance, including eight years at the Commonwealth Bank of Australia. At CBA, he started as Chief Financial Officer and over time became Group Executive, responsible for core business lines including Institutional and Business Banking as well as Wealth Management (Asset Management and Insurance). Prior to joining CBA, Mr Grimshaw worked for the National Australia Bank and was the Chief Executive Officer of Great Britain, with responsibility for large UK consumer banks Yorkshire Bank and Clydesdale Bank.
Mr Grimshaw represented New Zealand at the 1984 Olympics in Field Hockey and has a Bachelor of Commerce and Administration (Victoria University, Wellington, New Zealand) and an MBA (Melbourne University, Australia). He has also completed the Program for Management Development at Harvard Business School.
The Chairman of Cash Converters International Limited, Mr Reginald Webb said: "We are delighted with this appointment. Stuart will bring great strengths to the Board with his wide financial services experience and his expert knowledge of financial products. His participation will no doubt enhance the opportunities for the Cash Converters Group".
About Cash Converters International Ltd
Cash Converters International (ASX:CCV) is a franchised retail network listed on the ASX. It specialises in the sale of second-hand goods. The Cash Converters group employs modern retailing practices, professional management techniques and high ethical standards to the management of its stores throughout the chain which appeal to a wide cross section of the community. As a result, Cash Converters has been able to position its outlets as credible retail merchandise stores, resulting in a profitable market for the group.
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