Nelson Peltz to Retire From Encore Capital Group's Board of Directors in June 2006
SAN DIEGO, May 1 /PRNewswire-FirstCall/ -- Encore Capital Group, Inc. (Nasdaq: ECPG), a leading accounts receivable management firm, today announced that Nelson Peltz has informed the Company that he will not stand for re-election to the Board of Directors. Mr. Peltz, who is leaving the Board of Directors in order to devote time to his other business activities, will complete his term of service on June 5, 2006.
"Nelson has been a great contributor to the growth and development of the Company, and we thank him for his valuable service," said Richard Mandell, Chairman of the Board. "We have a strong group of independent directors who ably serve our stockholders, including Peter May, Nelson's longtime business partner. We expect to begin the search to fill Nelson's seat in the near future."
About Encore Capital Group, Inc.
Encore Capital Group, Inc. is a systems-driven purchaser and manager of charged-off consumer receivables portfolios. More information on the company can be found at www.encorecapitalgroup.com.
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 "may," "believes," "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, expectations regarding filling the vacancy on the Board of Directors. 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 our subsidiaries to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date the statement was made. They are inherently subject to risks and uncertainties, some of which the Company cannot control, predict or quantify. Future events and actual results could differ materially from the forward-looking statements. The Company will not undertake and specifically declines any obligation, nor does the Company intend, to update or revise any forward-looking statements to reflect new information or future events or for any other reason.
Contact:
Encore Capital Group, Inc.
Paul Grinberg (858) 309-6904 (Stockholders/Analysts)
paul.grinberg@encorecapitalgroup.com
or
Ren Zamora (858) 560-3598 (Investor Relations)
ren.zamora@encorecapitalgroup.com
SOURCE Encore Capital Group, Inc.
05/01/2006
Web site: http://www.encorecapitalgroup.com
(ECPG)
05/01/2006 13:03 EDT http://www.prnewswire.com