Cash America CEO, Daniel R. Feehan, To Retire in April 2015

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Cash America International, Inc.
CSH
announced today that its president and chief executive officer, Daniel R. Feehan, 63, has informed the Board of Directors of his intent to retire as president and chief executive officer of the Company when the current term of his executive employment agreement expires on April 30, 2015. Mr. Feehan will remain on the Company's Board of Directors and will assume the role of Chairman of the Board following his retirement. Jack Daugherty, the Company's founder and current Chairman of the Board, will step down as Chairman at that time but will continue to serve on the Board. The specific details of Mr. Feehan's retirement, including the details of any retirement package, are expected to be finalized early next year. “I am extremely proud to have been a part of the Cash America family for nearly 30 years. We have a wonderful team of dedicated coworkers who exemplify our core values and work hard to provide valuable services to our customers and value for our shareholders. Cash America has a very bright future and I believe the timing for a change in leadership is right for both me and the Company,” Feehan said. “Dan Feehan has been a tremendous leader for Cash America. Under his leadership, Cash America has grown from a small pawnshop company to an international leader in the non-bank specialty financial services industry. Dan's compassion for our customers and coworkers, his strong sense of values and ethics and his professional and sincere approach to everything he does has solidified a strong foundation for the company that shows deep respect and a commitment to excellence for our shareholders, customers and coworkers,” said Mr. Daugherty. “We are pleased that Dan will continue to provide his leadership for the Company through next April and help the Company transition to a new CEO.” The Board of Directors has appointed a special committee, chaired by James H. Graves, the Chairman of the Management Development and Compensation Committee, to lead a search for a successor CEO. Joining Mr. Graves on the special committee will be Daniel E. Berce, the Chairman of the Audit Committee, and Timothy J. McKibben, the Company's presiding outside director and Chairman of the Nominating and Corporate Governance Committee. The special committee will engage a leading executive recruiting firm to assist in the search. Both internal and external candidates will be considered. “The Board will conduct a thorough search to identify a new CEO who can lead the Company to continued growth and success while maintaining the culture of professionalism and integrity that Dan has instituted throughout the organization,” said Mr. Graves.
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