STRATEGIC PARTNERS
February 25, 2002
PORTLAND, Ore.-- TRM Corporation has named Kurt M. Schusterman, former senior vice president of sales and marketing for XtraCash ATM, as vice president and CEO of its ATM Division.
Schusterman had worked for XtraCash ATM, a non-bank ATM deployer spun off from National Bankcard Association, since 1996. Prior to 1996 he was senior vice president and chief marketing officer for the retail banking group of Texas Commerce Bank and the senior vice president of NaBANCO Merchant Services.
"I believe TRM is uniquely positioned to emerge as a worldwide leader for ATM deployments for three reasons: existing service network, capital for growth, and management culture. The Board of Directors is very committed to the ATM business," Schusterman said. "The plan is to grow the business through acquisitions and partnerships, and through the direct sales efforts of existing sales channels."
The announcement of Schusterman's appointment comes on the heels of an announcement that TRM Corporation had signed an agreement to be the exclusive ATM provider for The Pantry and Lil' Champ convenience store chain. Once fully implemented, the agreement represents potential ATM installations at 1,100 locations and revenue for TRM of more than $10 million per year. The agreement is for an initial term of seven years.
In addition to its ATM services, TRM provides self-service convenience photocopy centers to a variety of retail establishments throughout North America and Europe.
