Dive Brief:
- The Richmond, Va.-based provider of route-based secure logistics and payment solutions appointed Kurt McMaken as its new CFO, effective Aug. 24, the company announced.
- McMaken will succeed Ron Domanico who will continue in his role as president of Brink’s Capital, which provides funding for the company’s digital cash retail solutions, as well as continue to lead the company’s new sustainability program until his retirement next June. Domanico has served as CFO since 2016.
- CEO Mark Eubanks in a statement said McMaken has experience leading complex global finance, planning and digital strategy functions and “a proven track record in achieving margin expansion through growth, portfolio actions and improved productivity.”
Dive Insight:
Brink’s, known for its iconic trucks that transport cash, provides cash management solutions to customers that include financial institutions, retailers, government agencies, mints and jewelers.
McMaken spent more than two decades at the intelligent power management firm Eaton Corp., where he served most recently as senior vice president, operations finance and transformation, and as an officer of the company and member of the CEO’s senior leadership committee, according to his LinkedIn account. He also served as president of the company’s operations in Europe, Middle East and Africa.
McMaken started his career in audit & business advisory services at PwC where his roles included a two-year assignment in Baku, Azerbaijan. McMaken is stepping into his new CFO role with a salary of $600,000, according to an SEC filing.
McMaken will take over the CFO position while Domanico continues to serve as a key leader in the company’s sustainability program. The company’s sustainability update released in July outlines its environmental, social and governance (ESG) status and plans for the future.
The company’s recently formed program comes in the wake of talk of the SEC considering a proposal that would require public companies to include climate-related disclosures in periodic reports and registration statements. Brink’s is a signatory of the UN Global Compact, which is a multi-year strategy to drive business awareness and action in support of achieving the UN Sustainable Development Goals by 2030.
“The (ESG) is essential to value creation for all of our stakeholders, and we are working to improve the effectiveness and disclosure of our progress,” said Domanico in the sustainability update, “Brink’s doesn’t see sustainability as a cost, but as an investment,” he said.
Brink’s declined to comment beyond the information provided in the release.
