Aaron's Allen to Retire
ATLANTA-Ron Allen, CEO of Aaron's, will retire on Aug. 31.
On that date, the 72-year-old Allen will also leave his post on the retailer's board of directors. The board has retained Spencer Stuart, an executive recruiting firm, to assist in the search for Allen's successor. According to an Aaron's statement, "The search process will include a full review of both internal and external candidates."
Allen has served on the Aaron's board since 1997. He was named interim CEO in November 2011, succeeding Robert C. Loudermilk Jr., and was named chairman, president and CEO in February 2012. Earlier this year, Ray Robinson succeeded Allen as chairman, and Steve Michaels was named president.
Prior to joining the board, Allen was chairman and CEO of Delta Airlines.
Robinson said, "Under (Allen's) 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."