Cashies to bring in new CEO

Cash Converters International has appointed Bank of Queensland's Sydney-based group executive, Brendan White, as its new chief executive, starting in March next year.

Mr White has served in his current role at BOQ for the past six years, having previously held senior positions at Commonwealth Bank, French bank Société Generale, and British Petroleum.

He will replace interim chief executive Sam Budiselik, who took up the position following the resignation of Mark Reid, who stood down in August after three years at the helm.

Cash Converters chairman Stuart Grimshaw, who was managing director at BOQ from 2011 until 2014, welcomed Mr White’s appointment.

“We are delighted that someone of Brendan’s calibre has joined to lead our company,” Mr Grimshaw said.

“Brendan has demonstrated integrity as well as strong strategic and financial acumen throughout his career.

“He has achieved considerable success, demonstrating a clear ability to lead businesses across multiple and diverse segments and geographies.

“He has a track record of building successful businesses and developing strong talent that is also reflected in the culture created under his leadership.

“Having worked directly with Brendan previously, I can personally attest to his commitment to our values, our customers, our people and importantly our shareholders.”

Mr White said he was excited to be appointed as the company’s new leader.

“I join Cash Converters with great confidence in the long-term prospects for its business, which has such a unique footprint,” he said.

“I look forward to working with the Cash Converters team as we begin this next chapter of the Cash Converters story.”

Mr White will receive an annual base pay package of $720,000, which compares to Mr Reid’s base salary of $641,000 last financial year.

He will run the company from Sydney. 

Cashies has 153 corporate and franchise outlets and more than 1,750 employees across Australia.

Shares in Cash Converters were 0.8 per cent higher at 25.2 cents each at 1.30pm AEDT.