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NORFOLK, Va., Aug. 10, 2015 (GLOBE NEWSWIRE) -- PRA Group (Nasdaq:PRAA), a global leader in acquiring non-performing loans, today announced several organizational changes to maximize its competitive advantages of people, data, analytics, and results.
Kevin Stevenson Appointed President
Effective immediately, Kevin Stevenson, formerly executive vice president, chief financial and administrative officer, treasurer and assistant secretary, will assume the role of president, PRA Group, and will join the company's board of directors. In his new role as president, Stevenson will assume the additional responsibility of the operations in the Americas, with both the Core and Insolvency groups reporting to him. He will continue in his role as chief financial and administrative officer until a new chief financial officer is found. At that time, Stevenson will continue as chief administrative officer, with the new CFO reporting to him.
"These new responsibilities for Kevin reflect PRA's focus on developing our top leaders and ensuring that our succession plans are robust," said Steve Fredrickson, PRA Group chairman and chief executive officer. "Since co-founding the company with me in 1996, Kevin has been a true partner, and we have worked side by side to make critical decisions that have led to PRA's continued success. Kevin's appointment as president is a reflection of how we currently operate."
Additional Senior Leadership Changes
The company announced the following additional leadership changes today:
Fredrickson added, "My fellow board members and I believe that these changes in our senior management team reflect the excellent performance of our key employees and our ongoing commitment to developing the depth and breadth of our bench of outstanding talent that will provide effective leadership and help assure PRA's continued success."
New Centers of Excellence – PRA's Focus on Data, Analytics and Results
PRA's disciplined use of data and analytical tools has been an important ingredient to the company's success, driving better strategic decisions and results.
To help ensure continued focus and consistent, disciplined use of data, PRA will establish its Center of Excellence for Investments, Analytics, and Operations Strategy. Neal Stern will lead this effort and will be responsible for bringing PRA's strategy teams together around the globe. PRA believes Stern has the appropriate experience and leadership to enhance the company's worldwide professional collections strategy.
About PRA Group
As a global leader in acquiring non-performing loans, PRA Group (Nasdaq:PRAA) returns capital to global banks and other creditors to help expand financial services for consumers in North America and Europe. PRA Group companies collaborate with customers to help them resolve their debt and provide a broad range of additional revenue and recovery services to business and government clients.
PRA has been recognized as one of Fortune's 100 Fastest-Growing Companies for the past three years and one of Forbes' Best Small Companies in America for eight consecutive years since 2007. For more information, please visit www.pragroup.com.
CONTACT: Investor Contact: Darby Schoenfeld Director of Investor Relations (757) 431-7913 DCSchoenfeld@PRAGroup.com News Media Contact: Nancy Porter Vice President, Corporate Communications (757) 431-7950 NAPorter@PRAGroup.comNEXT ARTICLE
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