Rent-A-Center, Inc. Appoints Joel M. Mussat as Executive Vice President - Chief Operating Officer
Industry Veteran Returns to Company, Bringing Deep Rent-to-Own and Retail Expertise to Enhance Operational Capabilities
“We are delighted to welcome Joel back to Rent-A-Center,” said
“I am excited to return to
Mr. Mussat most recently served as the Chief Operating Officer of
About
A rent-to-own industry leader,
Forward-Looking Statements
This press release and the guidance above contain forward-looking
statements that involve risks and uncertainties. Such forward-looking
statements generally can be identified by the use of forward-looking
terminology such as "may," "will," "expect," "intend," "could,"
"estimate," "should," "anticipate," "believe,"
or “confident,” or the negative thereof or variations thereon or similar
terminology. The Company believes that the expectations reflected in
such forward-looking statements are accurate. However, there can be no
assurance that such expectations will occur. The Company's actual future
performance could differ materially from such statements. Factors that
could cause or contribute to such differences include, but are not
limited to: the general strength of the economy and other economic
conditions affecting consumer preferences and spending; factors
affecting the disposable income available to the Company's current and
potential customers; changes in the unemployment rate; difficulties
encountered in improving the financial and operational performance of
the Company's business segments; our chief executive officer and chief
financial officer transitions, including our ability to effectively
operate and execute our strategies during the interim period and
difficulties or delays in identifying and/or attracting a permanent
chief financial officer with the required level of experience and
expertise; failure to manage the Company's store labor and other store
expenses; the Company’s ability to develop and successfully execute
strategic initiatives; disruptions, including capacity-related outages,
caused by the implementation and operation of the Company's new store
information management system, and its transition to more-readily
scalable, “cloud-based” solutions ; the Company’s ability to
successfully market smartphones and related services to its customers;
the Company's ability to develop and successfully implement virtual or
E-commerce capabilities, including mobile applications; disruptions in
the Company's supply chain; limitations of, or disruptions in, the
Company's distribution network; rapid inflation or deflation in the
prices of the Company's products; the Company's ability to execute and
the effectiveness of a store consolidation, including the Company's
ability to retain the revenue from customer accounts merged into another
store location as a result of a store consolidation; the Company's
available cash flow; the Company's ability to identify and successfully
market products and services that appeal to its customer demographic;
consumer preferences and perceptions of the Company's brand;
uncertainties regarding the ability to open new locations; the Company's
ability to acquire additional stores or customer accounts on favorable
terms; the Company's ability to control costs and increase
profitability; the Company's ability to retain the revenue associated
with acquired customer accounts and enhance the performance of acquired
stores; the Company's ability to enter into new and collect on its
rental or lease purchase agreements; the passage of legislation
adversely affecting the Rent-to-Own industry; the Company's compliance
with applicable statutes or regulations governing its transactions;
changes in interest rates; adverse changes in the economic conditions of
the industries, countries or markets that the Company serves;
information technology and data security costs; the impact of any
breaches in data security or other disturbances to the Company's
information technology and other networks and the Company's ability to
protect the integrity and security of individually identifiable data of
its customers and employees; changes in the Company's stock price, the
number of shares of common stock that it may or may not repurchase, and
future dividends, if any; changes in estimates relating to
self-insurance liabilities and income tax and litigation reserves;
changes in the Company's effective tax rate; fluctuations in foreign
currency exchange rates; the Company's ability to maintain an effective
system of internal controls; the resolution of the Company's litigation;
and the other risks detailed from time to time in the Company's
Additional Information and Where to Find It
The Company, its directors, executive officers and other employees may
be deemed to be participants in the solicitation of proxies from the
Company’s stockholders in connection with the matters to be considered
at Rent-A-Center’s 2017 Annual Meeting. On
View source version on businesswire.com: http://www.businesswire.com/news/home/20170510005787/en/
Source:
Investors:
Rent-A-Center
Maureen Short
Interim
Chief Financial Officer
972-801-1899
maureen.short@rentacenter.com
or
Media:
Joele
Frank, Wilkinson Brimmer Katcher
Kelly Sullivan / James Golden /
Matt Gross / Aura Reinhard
212-355-4449