Accounts receivable management and BPO giant iQor announced the promotion of Norman Merritt to President this week. Upon joining in 2003, Merritt served as the company’s CFO and COO, overseeing its turnaround from a money-losing operation to earning over $50M in EBITDA in 2009. Shortly after private equity firm Huntsman Gay purchased a controlling stake in 2010, he played a critical role in the acquisition of RMS.
Merritt replaces Vikas Kapoor, whose tenure was marked by a focus on strengthening the firm’s technology. While the new CEO maintained that the transition would not be accompanied by a departure in strategy, he did acknowledge a renewed emphasis on enhancing iQor’s processes – an important source of its competitive advantage.