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From Home Furnishing Business

Rent-A-Center’s Fadel Resigns for Another Position

Mitchell Fadel, president and COO of Plano, Texas-based Rent-A-Center (NASDAQ/NGS: RCII), is resigning effective Aug. 28 to become president of U.S. Pawn of EZCORP, Inc. in Austin, Texas.

Fadel has served as president of Rent-A-Center since July 2000 and as the company’s COO since December 2002. He served as director of Rent-A-Center from December 2000 to November 2013 and has been with the company since 1992. 

“On behalf of the entire Rent-A-Center family, I would like to thank Mitch for his numerous contributions to our company,” said Robert Davis, CEO of Rent-A-Center. “Since joining Rent-A-Center in 1992, Mitch’s efforts have positively impacted every aspect of our operations and strengthened our organization for the opportunities we have ahead of us.” 

Davis said Fadel’s leadership has had a major impact on the management team’s recent success in initiating and implementing positive changes in their core U.S. operations, ranging from the introduction of their flexible labor model to their transition to a market-responsive pricing model to the development of their five new sourcing and distribution centers.

“I am extremely proud of the work we have done over the past 23 years as we have built Rent-A-Center into the great company that it is today,” Fadel said. “I have been especially fortunate to have worked with an incredible group of talented and professional people over the years. While I am excited for my next opportunity, I will miss Rent-A-Center and all of my former co-workers very much. I look forward to the company’s continued success.” 

Fadel’s direct reports will report to Davis upon Fadel’s resignation.

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