From Home Furnishing Business
Rent-A-Center Eliminates COO Post; Mussat Leaves Company
Rent-to-own major Rent-A-Center (NASDAQ: RCII) said Chief Operating Officer Joel Mussat has resigned, and his position has been eliminated as part of the company’s recent cost-cutting moves.
Mussat will receive a severance payment of 1.5 times his annual salary, in accordance with a termination agreement with the company, Rent-A-Center said in a Securities and Exchange Commission filing.
Rent-A-Center said the termination agreement includes two-year non-compete and confidentially clauses.
Mussat had been on the job only nine months, but previously held various management posts at the company from 2005 until early 2016.
Managers who had reported to Mussat are now reporting to CEO Mitchell Fadel, according to the filing.