LEAWOOD, Kan. -- Daniel R. Henry has been appointed president of Euronet Worldwide, Inc. (Nasdaq: EEFT), a duty he will assume in addition to his chief operating officer (COO) role.
Henry, who co-founded the company in 1994 with Michael Brown, has served as the company's COO for the past five years. Brown previously held the title of president and will continue in his functions as chairman and chief executive officer.
In 1994, Henry established the company's first European office in Budapest, Hungary. For the next five years, Henry managed the company's ATM and transaction processing business across Europe. In 1999, when he returned to Euronet's corporate office in Leawood, Kansas, the company's European business had expanded to eight countries and had annual sales in excess of $25 million.
Since his return to the U.S., Henry has continued to oversee the growth of the business in EMEA (Europe, Middle East and Africa) and expansion into new markets. The company's EMEA region now consists of offices in 10 countries: Hungary, Poland, Germany, Croatia, Czech Republic, Romania, France, Egypt, Greece and the UK.
Euronet Worldwide also announced that since June 30, 2001, it had exchanged an aggregate principal face amount of DEM 34 million of its 12 3/8 percent senior discount notes for an aggregate of 1,157,000 shares of its common stock.
The DEM 34 million exchanged includes DEM 30 million in exchanges that were previously reported as a subsequent event in Euronet Worldwide's Form 10Q for the period ended June 30, 2001. As a result of these exchanges, Euronet's 12 3/8 percent senior discount notes are reduced to a principal face amount of US $51.4 million (US $46 million in carrying value) as of Aug. 31, 2001. The decrease in the company's indebtedness since June 30, 2001, will result in an annual interest expense savings of approximately $2 million per year.
