CURO Announces Addition of New Independent Director Bob Hurzeler to CURO’s Board and Completion of Flexiti Sale
05 Septembre 2023 - 10:05PM
Business Wire
CURO Group Holdings Corp. (NYSE: CURO) (“CURO”), an omni-channel
consumer finance company serving consumers in the U.S. and Canada,
today announced Bob Hurzeler, Chief Executive Officer of Flagship
Credit Acceptance, has been appointed to CURO’s Board of Directors
effective September 1, 2023. In addition, CURO also announced it
has completed the sale of its Canadian point-of-sale business, FLX
Holding Corp. (“Flexiti”), to Questrade Financial Group Inc. After
deal and transaction costs, approximately C$39 million of net
proceeds were received at closing, inclusive of adjustments for
escrow and holdbacks. CURO also expects to receive C$25-30 million
in late 2023 and up to C$4 million in subsequent periods, subject
to adjustments, in accordance with the terms of the definitive
agreement.
“We are excited to welcome Bob to the CURO Board. Bob’s
extensive executive and operational finance experience will provide
CURO and its Board with a wealth of relevant knowledge and guidance
as we continue to execute our long-term strategy to grow
responsibly, execute with excellence and strengthen our
foundation,” said Doug Clark, Chief Executive Officer of CURO.
Mr. Hurzeler has served as the Chief Executive Officer of
Flagship Credit Acceptance, an auto lender, since 2019. Prior to
joining Flagship, Mr. Hurzeler served as Chief Operating Officer of
OneMain Financial, a non-prime lender, from 2014 to 2019. Earlier
in his career, Mr. Hurzeler was Chief Operating Officer of Global
Lending Services, an auto lender, from 2012 to 2014, and served in
various roles of increasing responsibility at Wells Fargo &
Company (NYSE: WFC) from 1986 to 2012, including serving as
President of Auto Finance from 2008 to 2012. Mr. Hurzeler holds a
B.A. in Business from Concordia University-Wisconsin.
“I am incredibly honored to join the CURO Board at this very
important time as CURO continues to execute on its strategic plan,”
said Mr. Hurzeler. “I look forward to bringing my consumer finance
experience to bear on behalf of CURO and its mission of providing
affordable credit solutions for consumers across North
America.”
The Company’s Form 8-K filed with the Securities and Exchange
Commission today includes an updated 2023 outlook for the quarter
ending September 30, 2023, which replaces the outlook provided in
the Company’s earnings presentation for the quarter ended June 30,
2023. The updated outlook has no material changes from the prior
published outlook other than reflecting the removal of the Canada
POS Lending (Flexiti) segment.
About CURO
CURO Group Holdings Corp. (NYSE: CURO) is a leading consumer
credit lender serving U.S. and Canadian customers for over 25
years. Our roots in the consumer finance market run deep. We’ve
worked diligently to provide customers a variety of convenient,
easily accessible financial services. Our decades of diversified
data power a hard-to-replicate underwriting and scoring engine,
mitigating risk across the full spectrum of credit products. We
operate a number of brands including Cash Money®, LendDirect®,
Heights Finance, Southern Finance, Covington Credit, Quick Credit
and First Heritage Credit.
(CURO-NWS)
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Investor Relations: Email:
IR@curo.com
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