EZCORP, Inc. announced a realignment of its senior leadership. Lachlan P. Given has been appointed Chief Executive Officer, and John Blair Powell, Jr. has been appointed Chief Operating Officer. Mr. Given will also join EZCORP's Board of Directors.
Mr. Given and Mr. Powell had been serving as Co-Interim Chief Executive Officers since January 12. The Board of Directors approved the realignment to leverage and capitalize on their respective capabilities and experience. As Chief Executive Officer, Mr. Given will be responsible for the company's overall executive leadership and strategic direction, while Mr. Powell, as Chief Operating Officer, will continue to focus on driving the operating performance of the business across all geographies, including stores and digital initiatives.
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.