Business
Atlanticus Announces Leadership Transition; Discussion of Operational Achievements
Founder David Hanna to become Executive Chairman of the Company; President Jeff Howard Appointed Chief Executive Officer ATLANTA, March 22, 2021 (GLOBE
About this update from Atlanticus Holdings Corporation
[{"type":"text","content":"Founder David Hanna to become Executive Chairman of the Company; President Jeff Howard Appointed Chief Executive Officer\nATLANTA, March 22, 2021 (GLOBE NEWSWIRE) -- Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus,” “the Company”, “we,” “our” or “us”), a technology-enabled financial services company, today announced that David G. Hanna, Chairman of the Board and Chief Executive Officer, will transition to the role of Executive Chairman of Atlanticus. The Company’s Board of Directors unanimously elected long-time President, Jeffrey A. Howard, as its new Chief Executive Officer. Both changes were effective March 18, 2021. Mr. Howard has served Atlanticus as President and as a member of its Board of Directors since April 2014. Having worked with the Company for almost 20 years, Mr. Howard has an intimate understanding of Atlanticus’ operations and strategic opportunities. Management Commentary1 Mr. Hanna noted, “Having served as CEO since the Company’s founding, I look forward to stepping into the role of Executive Chairman. In this role, I will work with the management team at Atlanticus on strategic initiatives, including our continued product expansions to further meet the evolving needs of millions of financially underserved consumers and their communities. I am very happy to turn the CEO role over to Jeff. Atlanticus is, once again, reporting exceptional performance, and the credit for our performance goes to our outstanding group of team members. In particular, I am most proud that Atlanticus has: Since the pandemic began, funded over $1 billion of purchases for financially underserved consumers and supported thousands of merchant partners across the country;Grown the number of customers we serve to over 1.6MM;Grown our point-of-sale assets at over 35% annually over the past 3 years to become the leading provider of second-look, buy-now-pay-later solutions in the market;Grown our general-purpose credit card assets by approximately 100% annually during that same period;Increased our latest 12-month operating profit to over $84 million;Continued to invest in our mobile first customer experience and scaled our fully cloud-based infrastructure;Lowered our servicing costs per account by 35% over the past three years allowing us to offer even greater value to a broader base of consumers;Affirmed that we are meeting our ...