The board has retained Spencer Stuart, a Buckhead-based executive recruiting firm, to assist in the process of identifying Allen’s successor. The search process will include a full review of both internal and external candidates.
“It has been a privilege to lead the finest associates in the industry, whose commitment, integrity and ingenuity never cease to impress me,” Allen said in a statement. “With the plans we have in place to deliver improved results in our core business and the transformational acquisition of the fast-growing virtual [rent-to-own] Progressive business, I believe that we have a strong platform for long-term growth, and I am confident in the company’s future.
“Having served on the Aaron’s board since 1997 and as CEO since February 2012, I am now looking forward to the next chapter of my life with more time for family and the opportunity to pursue other avenues for my personal and professional growth.”
In a statement, Ray Robinson, Aaron’s board chairman, said, “We want to thank Ron for his commitment and many contributions to Aaron’s, including his role in successfully completing the acquisition of Progressive Finance. Under his leadership, we have strengthened our management team and operating practices and procedures, and believe the corporate infrastructure is now in place to enable Aaron’s to build on its strong foundation for growth. We believe we are well positioned for the future and look forward to identifying a new leader who will leverage the Company’s broad retail footprint, leadership in virtual [rent-to-own] and strong franchisee relationships to drive results. We wish Ron the best in his future endeavors.”