Fort Worth-based Cash America has named T. Brent Stuart, currently president and chief operating officer, to take over as president and chief executive officer on Nov. 1.
Stuart will succeed Daniel Feehan, who earlier announced that he would be retiring as CEO. Feehan will remain on the board, serving as executive chairman until Oct. 31, 2016, and then as non-executive chairman from Nov. 1, 2016 until April 30, 2020.
Stuart joined the company in November 2008 and previously served as executive vice president and chief operating officer, and senior vice president–operations for U.S. retail services.
Prepared statements from the press release:
James H. Graves, chairman of the board’s CEO search committee, said, “During his tenure at the company, Brent Stuart has demonstrated success with the key characteristics the board was seeking in a successor to Mr. Feehan. He has proven to be a respected leader throughout the organization with high standards for integrity, fairness, transparency and accountability. Brent possesses a deep understanding of our business model and strong business and financial acumen and has impressed the board with both his action-oriented execution skills and his strategic thinking abilities and vision. We are extremely excited about the future of our company under Brent’s leadership.”
Stuart said: “I am honored that the board has asked me to serve as the company’s next Chief Executive Officer. I look forward to continuing to build on the growth and success Cash America has seen under Dan Feehan’s tremendous, long-standing leadership. I am also very pleased that during this important transition period the company and our management team will continue to have access to Mr. Feehan’s invaluable experience and advice in his role as our Company’s Executive Chairman.”