Conn’s Continues Executive Transition Process and Appoints Seasoned Executives to Lead Retail, Logistics and Service Divisi...
January 13 2017 - 4:30PM
Business Wire
- Coleman R. (“CR”) Gaines named
President and Chief Operating Officer of Retail
- Casey Chung appointed Vice President of
Logistics, and
- David Hutchinson appointed Vice
President of Service
Conn's, Inc. (NASDAQ:CONN) today announced that it has achieved
another major milestone in the transformation of its business with
the appointments of three important executives across the Company’s
Retail, Logistics and Service divisions.
Within Retail, the Company has named Coleman R. (“CR”) Gaines as
President and Chief Operating Officer. In his role, Gaines will
oversee the Company’s Retail business including operations,
merchandising, logistics and service. Gaines will join Conn’s on
February 1, 2017 and will report directly to Norm Miller, the
Company’s Chief Executive Officer and Chairman.
“CR is a seasoned operations executive with over 25 years of
experience at high growth retail organizations,” said Mr. Miller.
“With his track record of providing outstanding leadership and
solid financial management, I’m confident that CR will ensure
Conn’s is well positioned to achieve sustainable revenue growth in
our Retail business.”
Gaines previously spent seven years at TMX Finance in Savannah,
GA, a consumer retail finance company that served subprime
consumers, and was most recently the company’s Executive Vice
President of Store Operations. At TMX, Gaines led the entire store
operations group, which consisted of 1,300 retail locations across
18 states, and was responsible for managing new store growth,
improving operational efficiencies, and delivering profit to
expectation. He also served in additional roles at TMX including
Senior Vice President, Divisional Vice President and Regional
Manager. Gaines holds a B.A. in Theology from Freed Hardeman
University.
Prior to TMX, Gaines spent eight years at Tractor Supply
Company, working up to Divisional Vice President of Operations,
where he managed a $1.4 billion business unit and directed all
operational activities for the company’s 900 stores. Gaines began
his career at Scotty’s Home Centers & Hardware Stores, working
his way up over 13 years to Vice President of Hardware Stores where
he assumed full P&L responsibility for the company’s 70 retail
stores.
In addition to the appointment of Gaines, Conn’s announced the
appointments of Casey Chung as Vice President of Logistics and
David Hutchinson as Vice President of Service.
Chung brings over 20 years of logistics business experience to
Conn’s, most recently serving as Vice President of Logistics for
Caleres in Lebanon, TN, the parent company to Famous Footwear. At
Caleres, Chung spearheaded an initiative to modernize and optimize
the Supply Chain network, with a focus on reducing cost and
increasing speed and flexibility. Prior to Caleres, Chung oversaw
logistics for other leading high growth retail companies including
GAP Inc., Blockbuster and Walmart. Chung has an MBA in Supply Chain
Management and a Ph.D. in Operations Management from the University
of Texas in Dallas.
Hutchinson has nearly two decades of experience in sales and
operations roles with an emphasis on creating an innovative
customer service experience for major retailers including The Home
Depot and Sears. In his most recent role, Hutchinson served as
Senior Director & General Manager at The Home Depot in Atlanta
where he was responsible for in-home sales and installation
business for all custom windows, roofing, siding and other exterior
products. Prior to The Home Depot, Hutchinson spent 16 years at
Sears. His last role at Sears was as a Regional Vice President,
responsible for major home appliance repair operations. Hutchinson
has a B.S. in Business Management from the University of South
Florida.
About Conn's, Inc.
Conn's is a specialty retailer currently operating over 110
retail locations in Alabama,
Arizona, Colorado, Georgia, Louisiana, Mississippi, Nevada, New
Mexico, North Carolina, Oklahoma, South
Carolina, Tennessee and Texas. The Company's primary
product categories include:
- Furniture and mattress, including
furniture and related accessories for the living room, dining room
and bedroom, as well as both traditional and specialty
mattresses;
- Home appliance, including
refrigerators, freezers, washers, dryers, dishwashers and
ranges;
- Consumer electronics, including LED,
OLED, Ultra HD, and internet-ready televisions, Blu-ray players,
home theater and portable audio equipment; and
- Home office, including computers,
printers and accessories.
Additionally, Conn's offers a variety of products on a
seasonal basis. Unlike many of its
competitors, Conn's provides flexible in-house credit
options for its customers in addition to third-party financing
programs and third-party rent-to-own payment plans.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainties. Such forward-looking
statements include information concerning the Company's future
financial performance, business strategy, plans, goals and
objectives. Statements containing the words "anticipate,"
"believe," "could," "estimate," "expect," "intend," "may," "plan,"
"project," "should," or the negative of such terms or other similar
expressions are generally forward-looking in nature and not
historical facts. We can give no assurance that such statements
will prove to be correct, and actual results may differ materially.
A wide variety of potential risks, uncertainties, and other factors
could materially affect the Company's ability to achieve the
results either expressed or implied by the Company's
forward-looking statements including, but not limited to: general
economic conditions impacting the Company's customers or potential
customers; the Company's ability to execute periodic
securitizations of future originated customer loans including the
sale of any remaining residual equity on favorable terms; the
Company's ability to continue existing customer financing programs
or to offer new customer financing programs; changes in the
delinquency status of the Company's credit portfolio; unfavorable
developments in ongoing litigation; increased regulatory oversight;
higher than anticipated net charge-offs in the credit portfolio;
the success of the Company's planned opening of new stores;
technological and market developments and sales trends for the
Company's major product offerings; the Company's ability to protect
against cyber-attacks or data security breaches and to protect the
integrity and security of individually identifiable data of the
Company's customers and employees; the Company's ability to fund
its operations, capital expenditures, debt repayment and expansion
from cash flows from operations, borrowings from the Company's
revolving credit facility, and proceeds from accessing debt or
equity markets; the ability to continue the repurchase program; and
the other risks detailed in the Company's most recent reports filed
with the Securities and Exchange Commission, including but not
limited to, the Company's Annual Report on Form 10-K, the Company's
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. If
one or more of these or other risks or uncertainties materialize
(or the consequences of such a development changes), or should our
underlying assumptions prove incorrect, actual outcomes may vary
materially from those reflected in our forward-looking statements.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. We disclaim any intention or obligation to update
publicly or revise such statements, whether as a result of new
information, future events or otherwise. All forward-looking
statements attributable to us, or to persons acting on our behalf,
are expressly qualified in their entirety by these cautionary
statements.
CONN-G
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version on businesswire.com: http://www.businesswire.com/news/home/20170113005719/en/
S.M. Berger & CompanyAndrew Berger, 216-464-6400
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