PRA Group Appoints Glenn Marino to Board

PRA Group, Inc. (NASDAQ: PRAA) has announced the appointment of Glenn Marino to the company’s board of directors, effective March 15, 2024. Marino brings over 30 years of experience in the consumer finance industry, having most recently served as the executive vice president, chief commercial officer, and CEO of the payment solutions business at Synchrony Financial, Inc.

The company’s board of directors has undergone a significant refreshment process, with Marino's appointment marking the sixth director appointment in the last six years. This move reflects the board’s commitment to ensuring the right mix of skills, expertise, and diversity of perspectives to effectively oversee management and enhance shareholder value.

Glenn W. Welling, founder and CIO of Engaged Capital, LLC, one of the company’s stockholders, expressed confidence in Marino's extensive sector knowledge and proven skillset, emphasizing the value of his addition to the board.

PRA Group, Inc. is recognized as a global leader in acquiring and collecting nonperforming loans, returning capital to banks and other creditors to expand financial services for consumers in the Americas, Europe, and Australia.

The company has made impressive strides over the last year, and with Marino's appointment, it looks to continue its initiatives to drive profitable growth and stabilize performance, positioning itself for the future.

As a result of these announcements, the company's shares have moved -3.0% on the market, and are now trading at a price of $23.76. For more information, read the company's full 8-K submission here.

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