Executive Change: Sheldon Zucker Named President of Penncro Associates

Penncro Associates, Inc. today announced it has hired industry veteran Sheldon Zucker as its new President, effective June 17, 2008.

Sheldon was formerly President and CEO of Allied Bond at various times as the firm went from a privately held business to a wholly-owned, publicly-traded subsidiary of the Union Corporation.  Subsequently, he was President and CEO of the Consumer and Commercial divisions of Convergent Resources.  At Convergent Resources, Mr. Zucker was instrumental in building one of the ten largest ARM firms in the U.S. through the consolidation of six acquisitions in the consumer, commercial, and medical receivables management arenas.

Since 2006, Mr. Zucker has been operating as an independent consultant, serving clients to include several US–based, global companies in the call center, debt buying, and credit and collection industries.

Sheldon will oversee day-to-day operations for Penncro from its headquarters in Southampton, PA.  When asked about his rationale for joining Penncro, he remarked, “While I enjoyed the role of consultant, it lacked the challenge of being the driving force behind a talented team of professionals with whom I share common goals and objectives. I look forward to leveraging my experience to ensure Penncro capitalizes on its advantageous market position.”

Penncro’s Board of Directors simultaneously released the following statement: “This is a very opportunistic time in our industry. We are committed to sustaining and enhancing Penncro’s position as a premier agency and a formidable competitor, and Mr. Zucker helps us meet these objectives.”

Penncro currently has operating call centers in Pennsylvania, Texas, and offshore in the Dominican Republic.