Daily News
From Home Furnishing Business
Mussat Returns to Rent-A-Center as Chief Operating Officer
May 11,
2017 by Larry Thomas in Executive Changes, Industry 
Mussat left the company in early 2016 to become chief operating officer of Vixxo, Inc., an asset and facility management company, but is rejoining Rent-A-Center amid a proxy fight with activist shareholders who have questioned the company’s efforts to reverse recent sales declines and quarterly losses.
“We are delighted to welcome Joel back to Rent-A-Center,” said Mark Speese, Rent-A-Center’s chairman and CEO. “His significant operational background and industry experience will further strengthen our leadership team as we execute on our strategic plan to deliver enhanced stockholder value. I am confident that Joel is the ideal executive to oversee Rent-A-Center’s operating priorities as we continue to optimize performance, drive growth and improve profitability.”
Mussat was a Rent-A-Center executive from 2005-16, most recently as executive vice president and chief omni-channel officer. In that post, he oversaw development and implementation of the company’s enterprise-wide, omni-channel platform and customer acquisition strategies, including e-commerce and mobile commerce channels.
Earlier in his tenure, the company said Mussat spearheaded the testing and launch of the AcceptanceNow division, which operates rent-to-own kiosks in traditional retail stores to serve customers who cannot quality for the store’s in-house credit programs.
“I am excited to return to Rent-A-Center and look forward to working collaboratively with Mark and the entire management team at this pivotal stage in the company’s growth trajectory,” said Mussat.
Activist shareholder Engaged Capital, a hedge fund that owns nearly 20% of Rent-A-Center’s stock, has nominated five people who are opposing the company’s nominees for the board of directors at the June 8 annual meeting. The Engaged Capital nominees include former Rent-A-Center President and Chief Operating Officer Mitchell Fadel and Ken Butler, former chief operating officer at rival Aaron’s Inc.