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Cardtronics announces management reorganization

Cardtronics Inc. yesterday announced a major reorganization of its United States operations. The reorganization aligns the company's key business units with its long-term strategic initiatives.

October 17, 2010

Cardtronics Inc. yesterday announced a major reorganization of its United States operations. The reorganization aligns the company's key business units with its long-term strategic initiatives.
 
The Houston-based ATM ISO is splitting its domestic business into two separate units — Network and Financial Services and ATM Services. Cardtronics named Rick Updyke president of the combined United States Business Group. The business group also will be responsible for product management and product development. Three executives — Ben Psillas, Tres Thompson and Bill Knoll — will report to Updyke.

Psillas, who is founder and president of the Allpoint Network, has been named executive vice president and division executive for Network and Financial Services. In addition to managing Allpoint, a surcharge-free ATM network based in Bethesda, Md., Psillas will lead Cardtronics' bank branding and financial-institution service offerings. He also will focus on future products and services that are designed to leverage the company's prime network of retail locations. Carl Osterlof, Cardtronics senior vice president of relationship management, will report to Psillas.

Thompson has been named executive vice president and division executive for Cardtronics ATM Services. Thompson will be responsible for expanding Cardtronics' domestic retail ATM network and for implementing strategic initiatives to leverage and grow the revenues generated by its ATMs.

Thompson joined Cardtronics in 2004 and has served as chief accounting officer since 2006. He will turn over those responsibilities to Brad Conrad, senior vice president and corporate controller. Conrad, who will assume the position of chief accounting officer, will report to Chief Financial Officer Chris Brewster.

Tony Muscarello, executive vice president of U.S. Sales, will report to Thompson. Muscarello will continue to lead Cardtronics' domestic sales efforts. He also will assume responsibility for national account-relationship management.

Knoll, Cardtronics executive vice president of product management, will remain in that role. He will work with the new division executives to develop and implement new products and services to leverage the company's existing assets.

Mike Clinard, Cardtronics president of Global Services, will continue to manage Cardtronics' primary operating services, which include information technology, transaction processing and ATM operations. Clinard also is responsible for managing the company's Latin American operations, including Cardtronics Mexico and the company's Caribbean facilities. He also is responsible for Cardtronics' international business-development efforts.

Cardtronics CEO Steve Rathgaber says the new organizational structure will provide additional focus and resources needed for the company to achieve and also exceed revenue- and profit-growth targets.

"Longer term, these changes should drive additional accountability and responsibility throughout the organization, which will be needed as the company continues to mature into a larger, more established organization," Rathgaber said.

Cardtronics is the world's largest ATM ISO with more than 33,700 ATMs in the United States, the United Kingdom, Virgin Islands, Puerto Rico and Mexico. Cardtronics also owns Allpoint, the world's largest surcharge-free ATM network. In addition, Cardtronics manages ATM networks for financial institutions and retailers.