Rent-to-own News

Rent-to-own News - "Robin" Loudermilk Jr. resigns as Aaron's CEO

November 4, 2011

Aaron's Inc. today announced the departure of Robert C. ("Robin") Loudermilk Jr., who resigned his position as president and CEO of the company due to personal health reasons.

Loudermilk Jr. informed the Board he plans to concentrate his time and attention on his health and on personal and family real estate interests. Loudermilk Jr. also resigned from the Company's Board of Directors.

 

Loudermilk Jr. took the reigns as CEO of Aaron's in 2008.

The board subsequently named board member Ronald W. Allen to serve as interim President and CEO while a committee conducts a search to identify a permanent successor.

"Aaron's has a 56-year history of strong performance and growth, and I have been honored to serve as a Director of the Company," Allen said. "We highly value the leadership and dedication Robin has given over the years to build Aaron's and we wish him the best as he transitions into a new phase of his life. Our experienced and motivated management team has successfully worked together for years and we will continue to lead the Company through new phases of growth."

Allen, whose business experience includes serving as Chairman and Chief Executive Officer of Delta Air Lines from 1987 to 1997, has been a member of the Aaron's Board since 1997.

"Ron Allen has been a vital member of our Board of Directors for 14 years," said R. Charles Loudermilk Sr., Chairman of the Board and founder of Aaron's. "As former Chairman of the Board, President and Chief Executive Officer of Delta Air Lines, Ron led Delta through many industry changes. We are pleased that he has accepted the offer to serve as the interim CEO at Aaron's."

Aaron's will host a conference call Monday, November 7, 2011 at 9:00 a.m. EST to discuss the announcement. To listen to the conference call, visit http://www.aaronsinc.com/ for the webcast.
 

About APRO
The Association of Progressive Rental Organizations is the official voice of the rent-to-own industry and the most accurate and trustworthy source of rent-to-own news in the industry. Founded in 1980, APRO is the national, nonprofit trade association advocating and representing the rent-to-own industry before the U.S. Congress, state legislatures, courts, media and the public.

For more information, visit www.rtohq.org.




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