Ashish Masih to Become President and CEO of Encore Capital Group
“It was a difficult decision to leave this outstanding management team and company. However, I was presented with an opportunity I could not turn down,” said Mr. Vecchione. “I believe Encore is stronger than when I joined four years ago and, with a mature and experienced leadership team, it is well positioned to take advantage of market dynamics as they shift in the company’s favor. I’m proud of everything we’ve accomplished together at Encore. Ashish possesses a deep understanding of the company, its operations and the industry, and I believe he is the ideal person to take over when I step down.”
“I look forward to leading Encore and its more than 6,700 employees around the world,” said Mr. Masih. “I’m well prepared and highly confident in our consumer-centric approach, our demonstrated success in driving improved liquidations, and our strong capital stewardship. We have a bright future.”
“On behalf of our Board and employees, I want to thank Ken for his many contributions to Encore,” said Chairman of the Board Willem Mesdag. “He helped Encore adapt and grow in a challenging business and regulatory environment, and his focus on geographic diversification, cost reduction, improved liquidation and returns on invested capital will benefit the company for years to come.”
“The Board is pleased to have Ashish serve as Encore’s next President and Chief Executive Officer. We have worked with Ashish for many years, and his diverse background and demonstrated competence in operations, corporate strategy, regulatory affairs and technology continue to impress us,” added Mr. Mesdag. “We are equally excited by the expansion of Paul’s role and his continued oversight of our international strategies and holdings. The company is well-served by his intellect and experience in the industry.”
Mr. Masih joined Encore in 2009, and is responsible for internal call centers, decision science and analytics, legal collections, marketing, and all other domestic operations. Mr. Masih also oversees Encore’s
Mr. Grinberg joined Encore in 2004, and has held various positions at the company, including Group Executive, International and Corporate Development, and Chief Financial Officer. Mr. Grinberg serves as Chairman of the Board and the Compensation Committee at
About
Encore partners with individuals as they repay their debt obligations, helping them on the road to financial recovery and ultimately improving their economic well-being. Encore is the first and only company of its kind to operate with a Consumer Bill of Rights that provides industry-leading commitments to consumers. Headquartered in
Forward Looking Statements
The statements in this press release that are not historical facts, including, most importantly, those statements preceded by, or that include, the words “will,” “may,” “believe,” “projects,” “expects,” “anticipates” or the negation thereof, or similar expressions, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). These statements may include, but are not limited to, statements regarding our future operating results, performance, business plans or prospects. For all “forward-looking statements,” the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. Such forward-looking statements involve risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company and its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are discussed in the reports filed by the Company with the
Contact:Bruce Thomas Encore Capital Group, Inc. Vice President, Investor Relations (858) 309-6442 bruce.thomas@encorecapital.com