EZCORP Inc. disclosed that Phillip Cohen has been appointed to the company's board and elected executive chairman, both effective Sept. 12.
Cohen is the owner of MS Pawn Corp., the general partner of MS Pawn LP, which is the sole holder of the company's class B voting common stock. As such, he is the beneficial owner of 100% of the company's class B voting common stock. For more than 30 years, Cohen has worked closely with EZCORP's management and board as an owner and adviser in developing and executing the company's vision and strategy, according to a filing.
Lachlan Given, the company's prior executive chairman, resigned from that position and as a member of the board. He will continue to serve as an executive officer of EZCORP, principally responsible for the company's M&A and funding activities.
In addition, the board created the position of lead independent director and elected Matthew Appel to serve in the role. Appel has been a member of the board since January 2015 and also serves as chair of the audit committee.
