Cardtronics Intensifies Focus on Growth


Quick Facts

  • Cardtronics launches Enterprise Growth Group
  • Names David Dove as Group President, bringing his 30 years of payments and retail financial services industry experience in-house
  • Dove to focus on strategic initiatives including transaction share growth, new products, consumer experience, mergers and acquisitions, strategy development and business analytics

HOUSTON, Aug. 26, 2013 (GLOBE NEWSWIRE) -- Cardtronics, Inc. (Nasdaq:CATM), the world's largest retail ATM owner, today launched the Enterprise Growth Group — a new internal organization focused on strategic initiatives to leverage and extend the strengths of the company for sustained profitable growth. Assuming leadership of this new organization, David Dove has joined Cardtronics' senior leadership team as Group President of Enterprise Growth, reporting to CEO Steve Rathgaber.

Dove now brings his 30 years of payments and retail financial services industry experience in-house at Cardtronics, having served the company as a strategy consultant since 2009 as part of his role as Managing General Partner of Dove Capital Partners. During that time, Dove made significant contributions to key initiatives, including the recent acquisition of Cardpoint Limited, which more than doubled Cardtronics' ATM portfolio in the United Kingdom and expanded the company's footprint into Germany.

Cardtronics CEO Steve Rathgaber said:

"Cardtronics now provides convenient access to cash at more than 80,000 locations situated in premier retail locations in North America and Europe, representing growth of approximately 50,000 ATMs in the past three-plus years."

"A diverse growth engine has powered the expansion of Cardtronics in recent years, with contributions coming from organic- and acquisition-based growth, as well as ATM traffic-driving initiatives increasingly tied to an enhanced consumer experience by way of product innovation. David Dove, given his extensive payments and financial services background, combined with his intimate knowledge of our business, is well suited to help Cardtronics enter a new era of blended growth highlighted by product development."

Cardtronics Enterprise Growth Group President David Dove said:

"In the four years I have worked with Cardtronics as a consultant, I have had an opportunity to work with a very talented team to help position the company for sustained and profitable growth. Steve Rathgaber gave me an opportunity to come inside to help drive the company forward, and in doing so build on what has become a very powerful growth platform."

"We interact with more than a million consumers every day — and are visible to many more as they pass by our portfolio of convenient locations during their daily routine. Given this unrivaled distribution network combined with the position we have established at the intersection of hundreds of financial institutions and thousands of premier retail partners, I am confident that we have growth potential ahead of us."

Overview: Cardtronics Enterprise Growth Group

Cardtronics' newly created Enterprise Growth Group, under the leadership of David Dove, will provide dedicated support to CEO Steve Rathgaber, focusing on the development and execution of strategic growth initiatives including transaction share growth, new products, consumer experience, mergers and acquisitions, strategy development and business analytics. Consequently the core and next-generation product functions, corporate marketing, business analytics, as well as mergers and acquisitions teams will fold into the Enterprise Growth Group. Specific to mergers and acquisitions, Phil Chin has joined the company, having been appointed to the newly created Executive Vice President of Corporate Development role. Chin, previously a director in Barclays Investment Bank's Global Technology, Media and Telecommunications Group, will manage the M&A pipeline at Cardtronics, reporting to Dove.

Biographical Highlights of David Dove

David Dove has been appointed as President of the newly formed Cardtronics Enterprise Growth Group, effective Sept. 1, 2013.

Dove is currently Managing General Partner of Dove Capital Partners LLC, which provides consulting support to leading banks, credit unions, card issuers, card associations, electronic funds transfer (EFT) networks, merchant acquirers, processors, technology firms and terminal deployers. In this role, Dove has supported Cardtronics since 2009, focusing on strategy development, growth opportunities in the payments and retail financial services markets, as well as mergers and acquisitions.

Prior to Dove Capital Partners, David Dove founded and ran the Dove Consulting Group for more than 25 years. Serving as CEO, Dove grew the firm, both organically and through acquisition, into a well-known and respected firm in the payments and consumer packaged goods industries. In 2005, Dove sold the firm to the U.S. consulting subsidiary of Hitachi, becoming the Managing Vice President of both the Financial Services and Strategy practices.

Dove holds a master's degree from MIT in aeronautics & astronautics; an MBA from the Boston University School of Management; and an undergraduate engineering degree from North Carolina State University.

About Cardtronics (Nasdaq:CATM)

Making ATM cash access convenient where people shop, work and live, Cardtronics is at the convergence of retailers, financial institutions, prepaid card programs and the customers they share. Cardtronics owns/operates more than 80,100 retail ATMs in U.S. and international locales. Whether Cardtronics is driving foot traffic for America's most relevant retailers, enhancing ATM brand presence for card issuers or expanding card holders' surcharge-free cash access on the local, national or global scene, Cardtronics is convenient access to cash, when and where consumers need it. Cardtronics is where cash meets commerce.

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Source:Cardtronics, Inc.