IMGCAP(1)]
Cardtronics Inc. is having a difficult time hiring a new CEO since the ATM independent sales organization has reported back-to-back quarterly profits, says Fred R. Lummis, Cardtronics' chairman and interim CEO. There is a lot of interest in the job, which has been vacant since March when Jack Antonini left the Houston-based company, but Cardtronics' board of directors cannot settle on any candidate now that Cardtronics is profitable. "Our existing management team keeps raising the bar through their own performance, and the board just won't settle for second best," Lummis recently told analysts during a conference call. "So it is taking longer than we expected to complete our work. It is something of our own doing." Lummis says he hopes to name a CEO by December, but during a second-quarter analysts' conference call, he said he would name a CEO by the third quarter. Cardtronics is the world's largest ATM independent sales organization. As of Sept. 30, the company either owned or managed 32,995 ATMs in the United States, United Kingdom, Mexico and Puerto Rico. The company reported a $6.52 million profit for the third quarter ended Sept. 30, which followed a $2.6 million profit for the previous three-month period. Before then, the last time Cardtronics reported a profit was for the fourth quarter of 2006.
