NORFOLK, Va. - PRA Group, Inc. (NASDAQ:PRAA), a company specializing in the acquisition and collection of nonperforming loans, has announced the appointment of Glenn Marino to its Board of Directors, effective March 15, 2024. Marino's addition to the board comes as part of the company's ongoing efforts to enhance its governance and strategic planning.
Marino, who has over three decades of experience in the consumer finance sector, has held significant roles, including as Executive Vice President and CEO of the Payment Solutions business at Synchrony Financial (NYSE:SYF), an $18 billion financial services company. He has also served as CEO of Sales Finance for GE's North American retail finance business and CEO of Monogram Credit Services, a joint venture between GE and Bank One Corporation.
Steve Fredrickson, Chairman of the PRA Group Board, expressed confidence in Marino's ability to contribute to the company's ongoing transformation and future positioning. Marino's appointment is part of a broader board refreshment strategy, which has seen six directors join in the last six years, reflecting a commitment to bringing diverse perspectives and expertise to the company's leadership.
The selection of Marino followed a comprehensive search process by the board in collaboration with Engaged Capital, LLC, a shareholder of PRA Group. Engaged Capital's Founder and CIO, Glenn W. Welling, praised Marino's sector knowledge and skillset, anticipating that his contribution will be beneficial for the company's performance and stockholder value.
The information in this article is based on a press release statement.
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