News

Global Axcess reduces size of its board

May 23, 2011

Global Axcess Corp., a Jacksonville, Fla.-based independent ATM deployer (IAD) and provider of self-service kiosk solutions, yesterday announced that it has reduced the size of its board of directors to make it more effective and appropriately sized.

Global Axcess' board now has five members instead of six. Walter Howell and Alan W. Rossiter have left the board.

Eric S. Weinstein, one of Global Axcess' largest shareholders, has joined the board. Weinstein, who owns 3.5 percent of the IAD's stock, is founding partner of Chancellor Capital Management LLC, a private investment partnership and hedge fund concentrating on small-cap companies.

The company's goal is for board members to own in total 10 percent of the company's outstanding shares of common stock. With Weinstein's stake, they currently own approximately 6.7 percent, up from 2.5 percent as of March 2.

Global Axcess owns, manages or operates 5,300 ATMs and DVD kiosks in 43 states.