World Acceptance Corporation (NASDAQ: WRLD) today announced that Kelly
M. Malson plans to retire from her position as Senior Vice President and
Chief Financial Officer of the Company. The Company will initiate a
search for a new CFO, and the exact timing of Ms. Malson’s departure
will depend on the Company’s process for finding a successor. Malson’s
eight-year tenure with the Company began in 2005, and she has served as
the Company’s Chief Financial Officer of the since March 2006.
“I want to thank Kelly for her service and many valuable contributions
to our Company as CFO and a key member of our senior management team,”
said Sandy McLean, the Company’s Chairman and Chief Executive Officer.
“Her leadership and dedication have been critical to our success and the
development of our finance function and team. Although we are sorry to
see her leave, we respect Kelly’s decision and desire to pursue other
objectives and wish her all the best in those endeavors.”
“I am honored to be a part of the World Acceptance team and to have had
the opportunity to work together with so many talented and dedicated
colleagues to grow our Company and position it for continued success,”
said Malson. “I look forward to supporting the Company in a smooth
transition and thereafter pursuing other life objectives.”
About World Acceptance Corporation
World Acceptance Corporation is one of the largest small-loan consumer
finance companies, operating 1,221 offices in 13 states and Mexico. It
is also the parent company of ParaData Financial Systems, a provider of
computer software solutions for the consumer finance industry.
Forward-Looking Statements
This press release contains various “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934 that
represent the Company’s expectations or beliefs concerning future
events. Statements other than those of historical fact, as well as those
identified by the use of words such as “expects,” “intends,” “if,”
“can,” “anticipates,” “estimate,” “plans,” “believe,” “may,” “will,”
“should,” and any variations of the foregoing and similar expressions,
are forward-looking statements. Factors that could cause actual results,
performance or outcomes to differ from the expectations expressed or
implied in such forward-looking statements are the following: the timing
and outcome of the Company’s efforts to find a replacement chief
financial officer; recently enacted, proposed or future legislation and
the manner in which it is implemented; the nature and scope of
regulatory authority, particularly discretionary authority, that may be
exercised by regulators having jurisdiction over the Company’s business
or consumer financial transactions generically; the impact of changes in
accounting rules and regulations, or their interpretation or
application, or determinations made in connection with the preparation
or audit of the Company’s financial statements, which could materially
and adversely affect the Company’s reported financial statements, or
necessitate material delays or changes in the issuance of the Company’s
audited financial statements; the Company’s assessment of its internal
control over financial reporting and the timing and effectiveness of the
Company's efforts to remediate any reported material weakness in its
internal control over financial reporting, which could lead to the
Company to report further or unremediated material weaknesses in its
internal control over financial reporting; changes in interest rates;
risks relating to expansion and foreign operations; risks inherent in
making loans, including repayment risks and value of collateral; the
timing and amount of revenues that may be recognized by the Company;
changes in current revenue and expense trends (including
trends affecting delinquency and charge-offs); changes in the Company’s
markets and general changes in the economy (particularly in the markets
served by the Company); and the unpredictable nature of litigation. Many
of these and other risks are discussed in more detail in the “Risk
Factors” section and other portions of the Company’s Form 10-K/A for the
fiscal year ended March 31, 2013, as filed with the SEC on July 19,
2013, as amended and supplemented, and in the Company’s other filings
made from time to time with the SEC. The Company does not undertake any
obligation to update any forward-looking statements it makes. The
Company is also not responsible for updating the information contained
in this press release beyond the publication date, or for changes made
to this document by wire services or Internet services.
Copyright Business Wire 2013