EZCORP, Inc. announced a significant realignment of its Board of Directors, with the addition of six new independent directors, who will join four continuing directors, bringing the total number of directors to ten, eight of whom will be "independent" under applicable Nasdaq Stock Market rules. These changes will be effective as of the company's Annual Meeting of Stockholders, which will be held later April 09, 2019. The new independent directors include the following: Shelaghmichael Brown -- Former Senior Executive Vice President and Executive Officer Retail Banking, BBVA Compass. Jason A. Kulas -- Former Chief Executive Officer, President and Executive Director, Santander Consumer USA Inc. Kent V. Stone -- Former Vice Chairman of Consumer Banking Sales and Support, U.S. Bancorp. Gary L. Tillett -- Former Executive Vice President and Chief Financial Officer, Walter Investment Management Corp. (now Ditech Holding Corporation), and retired partner, Pricewaterhouse Coopers. Robert W. K. Webb -- Former Senior Vice President and Chief Human Resources Officer, Tenet Healthcare Corporation. Rosa C. Zeegers -- Former Executive Vice President, Consumer Products and Experiences, National Geographic Partners, LLC. The six new directors will join Matthew W. Appel, Lachlan P. Given (Executive Chairman), Stuart I. Grimshaw (the company's Chief Executive Officer) and Pablo Lagos Espinosa, all of whom will continue to serve as members of the Board of Directors. Santiago Creel Miranda, Peter Cumins and Joseph L. Rotunda will retire from the Board of Directors. In addition, Mr. Rotunda, who is currently serving as the company's Chief Operating Officer, has informed the company that he intends to retire from that position at the end of the current fiscal year. Mr. Rotunda has had a long relationship with the company, having served as President and Chief Executive Officer from August 2000 to October 2010 and returning to serve as an executive in May 2015. Mr. Rotunda has expressed the desire and willingness to remain available to the company's Board of Directors and management to consult on matters related to the company's operations.
EZCORP, Inc. is a provider of pawn transactions in the United States and Latin America. The Company also sells merchandise, primarily collateral forfeited from pawn lending operations and pre-owned and recycled merchandise purchased from customers. It operates through three segments: U.S. Pawn, Latin America Pawn, and Other Investments. The U.S. Pawn segment includes its EZPAWN, Value Pawn & Jewelry and other branded pawn operations in the United States. The Latin America Pawn segment includes its Empeno Facil, Cash Apoyo Efectivo (CAE) and other branded pawn operations in Mexico, as well as its GuatePrenda and MaxiEfectivo pawn operations in Guatemala, El Salvador, and Honduras (GPMX). At its pawn stores, it advances cash against the value of collateralized tangible personal property and sells merchandise to customers looking for good value. The merchandise it sells primarily consists of second-hand collateral forfeited from its pawn activities or merchandise purchased from customers.