Aarons 2011 Annual Report Download - page 5

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positioned to fund organic growth, take advantage of acquisition opportunities,
finance strategic investments, and repurchase stock as deemed appropriate.
Regrettably, Robert C. Loudermilk, Jr., the Company’s President and Chief
Executive Officer since 2008, resigned in November to pursue personal goals.
Robin had ably served the Company in nearly every capacity over the past 29
years, and, as CEO, he oversaw Aaron’s tremendous growth and outstanding
performance, as well as a significant increase in shareholder value. All of the
Aaron’s associates join us in thanking Robin for his service to the Company.
We were fortunate that Ronald W. Allen, a distinguished long-time Aaron’s
Director and former Chairman and CEO of Delta Air Lines, quickly stepped
in as interim President and Chief Executive Officer. In February 2012, those
two roles became permanent and Ron now serves as only the Company’s third
Chief Executive Officer in its history. Aaron’s has a deep, experienced, talented
management team and the Company is in good hands.
In addition, in 2011 our valued Director, John C. Portman, Jr., Chairman of
Portman Holdings, LLC, stepped down from the Board of Directors after five
years of wise counsel and guidance. In October, Cynthia N. Day, President
and Chief Executive Officer of Citizen’s Trust Bank, joined our Board to fill an
open vacancy.
Several other management changes and promotions were made in 2011.
Within the Aaron’s Sales & Lease Ownership division, Thomas A. Peterson
joined Aaron’s as Vice President, Marketing, and Brock M. Roberts was elected
Vice President of Operations, Northeastern Operations. For the HomeSmart
division, Marco A. Scalise was elected Vice President, HomeSmart Operations
and Mark A. Rudnick was named Vice President, Marketing, HomeSmart/
RIMCO. In January 2012, Jeannie M. Cave joined the Company as Vice
President, Real Estate and Construction.
After 57 years, Aaron’s is still bringing it home — delivering high-quality
household products to our customers, bringing jobs to our communities and
bringing investment returns to our shareholders. We are poised to bring home
another solid year in 2012. We thank all of you for your support.
R. Charles Loudermilk, Sr.
Chairman
Ronald W. Allen
President and Chief Executive Officer 3