Encore President & CEO Ashish Masih Named CEO of the Year by San Diego Business Journal

Rhea-AI Summary

Encore Capital Group (NASDAQ: ECPG) announced that CEO Ashish Masih has been recognized as CEO of the Year by the San Diego Business Journal for large public companies. His leadership has driven significant business performance, with 2021 revenues increasing 8% to $1.6 billion and net income growing 66%. Masih, who has been with Encore for 13 years, has emphasized a collaborative company culture and has launched initiatives related to Environmental, Social, and Governance (ESG) as well as consumer satisfaction studies.

Positive

• 2021 revenues increased by 8% to $1.6 billion.
• Net income rose by 66% compared to the previous year.
• Recognition of CEO Ashish Masih as CEO of the Year reflects strong company performance.

Negative

• None.

SAN DIEGO, July 12, 2022 (GLOBE NEWSWIRE) -- Encore Capital Group, Inc. (NASDAQ: ECPG), an international specialty finance company, today announced that its President and CEO, Ashish Masih, has been named a CEO of the Year by the San Diego Business Journal in its large public company category. Masih was selected on the strength of Encore’s business performance and its caring, collaborative and inclusive culture.

Masih has served as Encore’s president and CEO since 2017 and has been with the company for 13 years. Under his leadership, the company launched its refreshed Mission, Vision and Values (MVV), which define Encore’s purpose and guide every interaction with its consumers, clients, and the company’s 6,600 global colleagues. The company has also increased its commitment to Environmental, Social, and Governance (ESG) efforts as an extension of its MVV. To better understand consumer preferences and perspectives, Encore commissioned and released its inaugural Economic Freedom Study in 2021 and has implemented a new consumer satisfaction feedback system.

“I’m so proud of our team for the way they’ve risen to the challenges of the last couple of years – keeping each other safe and healthy in our work environment, contributing to the betterment of the communities in which we work and supporting the consumers we serve,” said Masih. “This award is truly a reflection of the care and commitment to making the positive differences they deliver every day.”

Encore’s business has delivered unprecedented financial performance during Masih’s tenure. In 2021 alone, revenues grew 8% from the previous year to reach a record $1.6 billion, and net income grew 66% over the prior year. The company has also maintained a strong commitment to philanthropy, matching employees’ volunteer hours and charitable donations, and it invested heavily in meeting the needs of Encore employees and their communities during the pandemic. Of particular importance, the company launched a COVID-19 Employee Assistance Center near its facility in the Gurgaon district in India to provide colleagues and their dependents with critical medicines, oxygen support and information to urgently secure resources such as available intensive care hospital beds.

Masih earned a Master of Business Administration from The Wharton School of the University of Pennsylvania, a Master of Science in Manufacturing Systems Engineering from Lehigh University and a bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology in New Delhi, India.

About Encore Capital Group, Inc.

Encore is an international specialty finance company that provides debt recovery solutions and other related services across a broad range of financial assets. Through its subsidiaries around the globe, Encore purchases or services portfolios of receivables from major banks, credit unions and utility providers.

Headquartered in San Diego, Encore is a publicly traded NASDAQ Global Select company (ticker symbol: ECPG) and a component stock of the Russell 2000, the S&P Small Cap 600 and the Wilshire 4500.

Contact

Faryar Borhani, Senior Director, Corporate Communications
Press@EncoreCapital.com

FAQ

What recognition did Encore Capital's CEO receive?

Ashish Masih was named CEO of the Year by the San Diego Business Journal for large public companies.

How much did Encore Capital Group's revenue grow in 2021?

Encore Capital Group's revenue grew by 8% to reach $1.6 billion in 2021.

What was the increase in Encore Capital Group's net income in 2021?

The net income of Encore Capital Group increased by 66% over the prior year in 2021.

What initiatives has Encore Capital Group launched under Ashish Masih's leadership?

Encore launched initiatives related to Environmental, Social, and Governance (ESG) and consumer satisfaction studies.