Houston, Tx., USA - November 11, 2010, Houston, Tx., USA - Cardtronics, Inc.s, a non-bank operator of ATMs, announced a number of changes to its board of directors including the resignation of Fred R. Lummis as chairman.
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Mr. Lummis has served as a director and Chairman of the Board since June 2001. Effective as of March 17, 2009, Mr. Lummis was serving as the company' Interim Chief Executive Officer. In 2006, Mr. Lummis co-founded Platform Partners, LLC and served as its Chairman and Chief Executive Officer. Prior to co-founding Platform Partners, Mr. Lummis co-founded and served as the managing partner of The CapStreet Group, LLC, CapStreet II, L.P. and CapStreet Parallel II, L.P.
Mr. Lummis continues to serve as a senior advisor to The CapStreet Group, LLC. From June 1998 to May 2000, Mr. Lummis served as Chairman of the Board and Chief Executive Officer of Advantage Outdoor Company, an outdoor advertising company. From September 1994 to June 1998, Mr. Lummis served as Chairman and Chief Executive Officer of American Tower Corporation, a nationwide communication tower owner and operator. Mr. Lummis currently serves as a director of Amegy Bancorporation Inc. and several private companies.
Mr. Lummis holds a Bachelor of Arts degree in economics from Vanderbilt University and a Masters of Business Administration degree from the University of Texas at Austin. On February 1, 2010, Mr. Lummis resigned as the company's interim Chief Executive Officer.
In connection with Mr. Lummis' resignation, the Board has appointed Dennis F. Lynch as the Board's new chairman.
Mr. Lynch has served as a director of our Company since January 2008. Mr. Lynch has over 25 years of experience in the payments industry and has led the introduction and growth of various card products and payment solutions. Mr. Lynch is currently a director and chairperson of the Secure Remote Payments Council, a cross-industry group dedicated to accelerating more secure methods of conducting consumer payments in the internet/mobile marketplace.
Mr. Lynch is also a principal of Future Pay, LLC, a consulting firm focused on the next generation of consumer payments. From 2005 to 2008, Mr. Lynch served as Chairman and Chief Executive Officer of RightPath Payments Inc., a company providing business-to-business payments via the internet. From 1994 to 2004, Mr. Lynch served in various positions with NYCE Payments Network, LLC, an electronic payments network that is now a wholly-owned subsidiary of Fidelity National Information Services, Inc., including serving as that company?s President and Chief Executive Officer from 1996 to 2004, and as a director from 1992 to 2004.
Prior to joining NYCE, Mr. Lynch served in a variety of information technology and products roles, ultimately managing Fleet Boston's consumer payments portfolio. Mr. Lynch has served on a number of boards, including the board of Open Solutions, Inc., a publicly-traded company delivering core banking products to the financial services market, from 2005 to 2007.
Mr. Lynch was also a founding director of the New England-wide YANKEE24 Network, and served as its Chairman from 1988 to 1990. Additionally, Mr. Lynch has served on the Executive Committee and the board of EFTA. Mr. Lynch received his Bachelors and Masters degrees from the University of Rhode Island.
The Company also announced the appointment of Mark Rossi as a new independent director to serve on the Company's Board, effective December 1, 2010.
Mr. Rossi currently serves as Senior Managing Director of Cornerstone Equity Investors LLC, an active middle market private equity fund that he founded in 1996. From 1984 to 1996, Mr. Rossi held various positions with Prudential Equity Partners, the private equity subsidiary of Prudential Insurance, including President from 1994 to 1996 and Senior Vice President from 1984 to 1994.
Mr. Rossi currently serves on the board of directors of Maxwell Technologies, Inc., a publicly-held company specializing in the development and manufacturing of energy storage and power solutions; Equitrac Corporation, a privately-held company providing print management and cost recovery software solutions to over 23,000 customers in 40 countries; and Geotrace Technologies, Inc., a privately-held reservoir services company that provides imaging solutions to the oil and gas industry worldwide.
Additionally, at various times from 1986 to 2007, he served on the boards of the following public companies: ChemDesign Corporation, Conner Peripherals, Inc., International Manufacturing Services, Inc., Novatel Wireless, Inc., and StoreMedia Corporation. ■