Loudermilk Resigns at Aaron's

November 6, 2011  by in UnCategorized   

By Home Furnishings Business in Executive Changes on November 7, 2011

Robert Loundermilk Jr. has resigned as president and CEO of rent-to-own furniture and electronics retailer Aaron's (NYSE: AAN) for personal health reasons.

Ronald Allen, a member of Aaron's board of directors, replaces Loudermilk as interim president and CEO as the Atlanta-based company conducts a search for successor. In addition to his health, Loudermilk will concentrate on personal and family real estate interests. He also will resign from Aaron's board.

Allen, whose business experience includes serving as chairman and CEO of Delta Air Lines from 1987 to 1997, has been a member of the Aaron's board since 1997.

"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."

"Ron Allen has been a vital member of our Board of Directors for 14 years," said R. Charles Loudermilk Sr., chairman of the board. "As former chairman of the noard, 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."