Scottsdale, AZ (PRWEB) January 23, 2006 –
Hampden Group, Inc., (OTC: HPNG), a financial services company specializing in sub-prime loan programs, today announced that it has accepted the resignation of Roger K. Marach as CFO of the company. Mr. Marach will be also stepping down from the board of directors for both the Hampden Group and its subsidiary, PrePaid Motors, Inc. to pursue other interests. No immediate successor has been named, and the company has indicated it will take steps to actively pursue a replacement for Mr. Marach.
“Roger has done an outstanding job getting the company’s finances in order and many of his plans and procedures will provide a valuable framework for our future growth” said Randy Humphrey, CEO of the Hampden Group. “Although Roger will be stepping down from his day to day responsibilities as CFO, he has agreed to join our Board of Advisors to provide additional financial expertise and to help transition the company through our search for a replacement. ”
The company also announced that Hampden Group Advisor Board member, Michael Reynolds, has joined the company as Chief Operating Officer (COO). Mr. Reynolds was most recently a co-founder of Friendship Financial LLC, a financial services company that owns and operates several payday/cash advance storefront operations. In addition, Mr. Reynolds’ resume includes a very successful career in the information systems and telecommunications industry where he headed up sales and program management for some of the largest providers.
“Mike’s experience in managing the day to day operations of multiple cash advance facilities should directly translate to better process control and better customer service for our on-line programs” added Mr. Humphrey. “Mike’s expertise in sales and program management is exactly what we need as the company prepares to roll-out our latest service for outsourcing the cash advance function for employers and Professional Employer Organizations (PEO.s)."
About Hampden Group, Inc.
Hampden Group, Inc. (HGI) (OTC PK: HPNG) founded in 2004, is a publicly traded financial services company headquartered in Scottsdale, Arizona. HGI owns and operates several Internet websites providing short-term financing in the lucrative sub-prime loan market. The Hampden Group is currently engaged in the business of funding payday loans/cash advances, auto title loans, providing 3rd party financing programs for independent auto dealerships, and cash advance outsourcing for Professional Employer Organizations (PEOs), employers, and payroll processing companies.
Safe Harbor for Forward-Looking Statements:
Certain statements made in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the plans and objectives of management for future operations and anticipated results of operations. For this purpose, any statements contained herein or incorporated herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words, “believes”, “anticipates”, “proposes”, “plans”, “expects”, and similar expressions are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements made in this press release are based on current expectations that involve numerous risks and uncertainties, including but not limited to those that might be described herein. Although the Company believes that its assumptions are reasonable, any of the assumptions could prove inaccurate.
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