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Rent-Way CEO stepping down

By Furniture Today Staff -- Furniture Today, March 27, 2005

Erie, Pa. — William Morgenstern will step down as president and CEO of rent-to-own major Rent-Way on May 1, and William Short will be promoted to president, the company said.

Morgenstern will remain non-executive chairman of the board and a consultant to Rent-Way.

Short, who has been executive vice president and chief operating officer, has been with the company since 1996 and has 21 years of RTO industry experience.

Morgenstern, who has been Rent-Way's CEO for almost 24 years, said he believed "this is a particularly good time to make this change. We have a great management team in place and a well-developed strategic plan with momentum to grow our business and challenge our employees."

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