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From Home Furnishing Business

Aaron’s Names Leadership Team

Rent-to-own retailer Aaron’s (NYSE: AAN) has shifted its senior leadership team to accommodate the planned retirement of its CFO.

Gilbert Danielson will resign as CFO at the end of this year. He will remain executive vice president and serve as a senior advisor to the leadership team and will manage certain strategic projects.

Steven A. Michaels, president, has been named CFO and president of strategic operations. In addition to his responsibilities as CFO, Michaels will be responsible for several key business functions, including e-commerce, franchising, information technology, business development and manufacturing.

Douglas A. Lindsay, former executive vice president and COO of ACE Cash Express, has been named president of Aaron's sales and lease ownership. He will be responsible for overseeing Aaron's store-based business, comprised of more than 1,200 company-operated stores and more than  $2 billion in revenues. His responsibilities will include operations, marketing, merchandising and real estate.

Robert W. Kamerschen, executive vice president, general counsel and corporate secretary, will assume the role of chief administrative officer. He will be responsible for legal, compliance, corporate governance, risk management, government relations, external affairs, privacy and physical security.

Tristan J. Montanero, senior vice president of operations, has been named chief operations officer of Aaron's sales and lease ownership. Montanero will have responsibility for company-operated store operations and field employees, as well as the HomeSmart division.

Ryan K. Woodley will continue to serve as CEO of Progressive Leasing, a virtual lease-to-own company acquired by Aaron's in 2014. He also remains responsible for overseeing Dent-A-Med, a subsidiary of Progressive, which Aaron's acquired in 2015.

With the exception of Lindsay, who will join Aaron's Feb. 1, these appointments are effective Feb. 18.  Michaels, Lindsay, Kamerschen and Woodley will report to John Robinson, CEO. Montanero will report to Lindsay.

"We have a talented senior leadership team in place which combines the institutional knowledge of Aaron's with new perspectives and relevant outside expertise," Robinson said. "We believe this team has the passion, skills and experience to continue driving Aaron's forward and ensure long-term success."

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