Aaron's CEO steps down
Gary Evans -- Furniture Today, November 16, 2011
R. Loudermilk
ATLANTA - Aaron's Inc. has announced that Robin Loudermilk Jr. has resigned as president and CEO of the giant rent-to-own company and has been succeeded by board member Robert W. Allen on an interim basis as the company conducts a search for a successor.
Loudermilk joined the company in 1985 as an assistant store manager and was named president and chief operating officer of the company in 1997. He succeeded his father, company Chairman Charlie Loudermilk, as CEO in 2008.
Robin Loudermilk also resigned as a director, a post he's held since 1983. An announcement from the company said that Loudermilk is leaving to concentrate his time on his health and on personal and family real estate interests.
Allen previously was chairman and CEO of Delta Air Lines from 1987 to 1997 and has been a member of Aaron's board since 1997.
In a conference call last week, company officials said there is no timetable for choosing a permanent successor to Loudermilk, nor was there any intention to "temper" any of the plans in place for the company.
Allen said he plans to "focus on people" and began touring some of the company's stores last week.
"Aaron's has a 56-year history of strong performance and growth, and I have been honored to serve as a director of the company," said Allen. "We highly value the leadership and dedication Robin has given over the years to build Aaron's and we wish him well as he transitions to a new phase of his life. Our experienced and motivated management team has successful worked together for years and we will continue to lead the company through new phases of growth."
"Ron Allen has been a vital member of our board of directors for 14 years," said Charlie Loudermilk. He added that in Allen's former position at the airline, "Ron led Delta through many industry changes. We are pleased that he has accepted the offer to serve as interim CEO."
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