Brink’s Announces CFO Succession and Transition Plan

Rhea-AI Summary

Brink's Company (NYSE:BCO) announced the appointment of Kurt McMaken as Chief Financial Officer, effective August 24, 2022. He succeeds Ron Domanico, who will support the transition and continue as president of Brink's Capital until his retirement in June 2023. McMaken brings extensive experience from Eaton Corporation, where he held senior finance roles. CEO Mark Eubanks expressed confidence in McMaken's leadership for ongoing growth and value creation amidst dynamic market conditions.

Positive

• Kurt McMaken's appointment is expected to enhance Brink's financial strategy.
• McMaken has a strong background with proven track record in margin expansion.
• Ron Domanico will oversee key ongoing initiatives during the transition.

Negative

• None.

Kurt McMaken to Join as Chief Financial Officer

RICHMOND, Va., Aug. 09, 2022 (GLOBE NEWSWIRE) -- The Brink’s Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced that Kurt McMaken will join the company on August 24, 2022, as executive vice president and chief financial officer.

Ron Domanico, who has served as the company’s chief financial officer since 2016, will remain at Brink’s to support the transition. He will continue as president of Brink’s Capital, LLC, the entity that helps provide funding for the company’s digital cash retail solutions, and lead the company’s recently established Sustainability Program until his planned retirement in June 2023.

Mark Eubanks, president and CEO, said: “We are pleased to have found such an able successor to Ron, who has been instrumental to Brink’s success in leading the execution of our value creation strategy. I’m confident that Brink’s Capital and our Sustainability Program, which are key components of Brink’s strategy, will continue to benefit from Ron’s dedicated oversight. Kurt is a transformational finance leader, accustomed to leading complex global finance, planning and digital strategy functions. He has a proven track record in achieving margin expansion through growth, portfolio actions and improved productivity.”

McMaken will join the executive leadership team and report to Eubanks.

“Brink’s has a strong global reputation and brand based on a rich heritage,” said McMaken. “I look forward to working with the team to deliver continued growth and value for company stakeholders amid a dynamic and exciting time in the company’s long history.”

McMaken joins Brink’s from Eaton Corporation plc, an intelligent power management company, where he served in a number of financial and management positions since 2001. He most recently served as senior vice president, operations finance and transformation, and as an officer of the company and member of the CEO’s senior leadership committee. During his tenure, he also served as president of the company’s operations in Europe, Middle East and Africa, which he oversaw from a post in Morges, Switzerland.

He started his career in Audit & Business Advisory Services at PricewaterhouseCoopers LLP for seven years, which included a two-year assignment in Baku, Azerbaijan. McMaken holds a bachelor’s degree in business administration and accounting from Georgetown University and an MBA in strategy and finance from The University of Chicago Booth School of Business.

About The Brink’s Company
The Brink’s Company (NYSE:BCO) is the global leader in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including vault outsourcing, money processing and intelligent safe services), and international transportation of valuables. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 53 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com or call 804-289-9709.

Contact:
Investor Relations
804.289.9709

FAQ

Who is the new Chief Financial Officer of Brink's Company (BCO)?

Kurt McMaken has been appointed as the new Chief Financial Officer of Brink's Company effective August 24, 2022.

What experience does Kurt McMaken bring to Brink's Company (BCO)?

Kurt McMaken has extensive experience from Eaton Corporation, where he held various senior financial roles.

What will Ron Domanico do after stepping down as CFO of Brink's Company (BCO)?

Ron Domanico will continue in his role as president of Brink's Capital and lead the Sustainability Program until his planned retirement in June 2023.

When will Kurt McMaken start his role at Brink's Company (BCO)?

Kurt McMaken will officially join Brink's Company as Chief Financial Officer on August 24, 2022.

What is the significance of Kurt McMaken's appointment for Brink's Company (BCO)?

His appointment is expected to strengthen Brink's financial strategy and support ongoing growth and value creation.