Article

Cardtronics Inc. names new CEO

Steven Rathgaber, former president and COO of NYCE Payments Network, has more than 30 years experience in the payments industry.

December 21, 2009

Cardtronics Inc. has announced the appointment of Steven A. Rathgaber as the company's new CEO. Rathgaber was selected for the position by Cardtronics' board of directors and has 32 years experience with payments products and networks, the company says. Rathgaber most recently served as president and COO of NYCE Payments Network LLC, a subsidiary of Fidelity National Information Services Inc.

Fred Lummis, Cardtronics' chairman of the board and interim CEO, says Rathgaber's experience will help lead the company into an expansion of its product offerings and the business as a whole.

"The existing management team has done an outstanding job of creating an extremely valuable and profitable network comprised of over 33,000 financial services kiosks and strong financial institution and retail relationships throughout three countries," he said. "With Steve's significant payments industry experience, including the launching of numerous payments-related products while at NYCE, we believe we've found a CEO who will lead our team's efforts to introduce new products and services that will leverage our existing network and scale our business."

According to Cardtronics, Rathgaber worked at NYCE for 18 years, serving in a number of sales and operating roles. During his tenure at NYCE, Rathgaber was responsible for developing and leading NYCE's payment product expansion strategy, which included, among other things, the launching of Internet and mobile banking and payment-related services. He also was responsible for NYCE's domestic and international expansion efforts and oversaw the acquisition and integration of numerous debit networks and transaction-processing platforms. Prior to joining NYCE, Rathgaber served in a number of operational management roles with Automatic Data Processing Inc. and Citibank. He holds a Bachelor of Science degree in accounting from St. John's University.

In connection with his appointment as CEO, Rathgaber also was elected to Cardtronics' board of directors. Both the appointment and the election will become effective Feb. 1, 2010, the company says.