Thursday, November 23, 2017 | Today's Vending Industry News
Cardtronics CEO Steven Rathgaber To Retire; Edward West Succeeds

Posted On: 8/24/2017

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HOUSTON -- Cardtronics chief executive Steven Rathgaber will retire at the end of the year and will be replaced by Edward West, the ATM operator's chief operations and financial officer. West, who joined the company in January 2016, will also join Cardtronics' board as a director. The company is now searching for a new chief financial officer.

Rathgaber joined Cardtronics in January 2010, at which time it maintained about 30,000 ATMs in the U.S. He spearheaded an expansion that transformed the company into a comprehensive service provider for 237,000 ATMs in 11 countries. Cardtronics processed 2 billion ATM transactions in 2016.

In its second quarter, Cardtronics reported a 19% revenue increase to $385.1 million from $324 million a year ago. The company has been scaling and adding technology to keep pace with changing ATM usage behavior. It acquired DirectCash earlier this year to grow its ATM network in Canada, and started deploying "cardless" ATM technology to its fleet this summer in partnership with Fidelity National Information Services.