ATLANTA, April 16, 2021 /PRNewswire/ -- The Aaron's
Company, Inc. (NYSE: AAN), a leading technology-enabled omnichannel
provider of lease-to-own and purchase solutions, today announced
the appointment of Laura N. Bailey,
Timothy A. Johnson (TJ) and Marvonia
P. Moore (Marvy) to its Board of
Directors effective on May 3,
2021.
"We are very pleased to have Laura, TJ and Marvy join our Board
of Directors and believe their strong backgrounds will be excellent
additions to the board as it carries out its oversight
responsibilities," said John
Robinson, chair of the Aaron's Board of Directors. "We
welcome them as we continue to move Aaron's forward and deliver on
our mission of enhancing people's lives by providing easy access to
great products through affordable lease-to-own options."
Laura N. Bailey
Ms. Bailey held a variety of senior management positions at
Capital One Financial Corporation beginning in 2006 until her
retirement in April 2021, most
recently as Corporate Senior Vice President, Community Impact and
Investment. Prior to that she held the position of Corporate Senior
Vice President, Community Finance & Community Affairs. Before
joining Capital One, Ms. Bailey served in senior management
positions at Bank of America Corporation, JP Morgan Chase & Co
and Bank United Corporation.
In addition to her extensive professional experience, Ms. Bailey
is an active member in the charitable community. She currently
serves on the board of the Affordable Housing Tax Credit Coalition.
She has previously served as a Trustee for Enterprise Community
Partners and on the boards of Capital One Foundation, Community
Preservation Development Corporation and Affordable Housing
Investors Council.
Ms. Bailey will join the audit committee and the nominating and
corporate governance committee.
Timothy A. Johnson
Prior to his retirement, Mr. Johnson held various senior
management positions at Big Lots, Inc. from 2000-2019, most
recently as Executive Vice President, Chief Financial Officer and
Chief Administrative Officer. Prior to that he held positions of
Senior Vice President and Chief Financial Officer; Senior Vice
President, Finance; Vice President, Strategic Planning and Investor
Relations; and Director, Strategic Planning. Prior to joining Big
Lots, Mr. Johnson served as Director, Financial Reporting for
Limited Brands, Inc. Prior to that, he was a senior audit associate
for Coopers and Lybrand.
Mr. Johnson currently serves on the board of DYLN, Inc., FST
Logistics, Inc. and LogicSource, Inc. He is also actively involved
in charitable causes and currently serves on the board of Marburn
Academy and Nationwide Children's Hospital Foundation.
Mr. Johnson will join the audit committee and the compensation
committee.
Marvonia P. Moore
Ms. Moore held a variety of
senior management positions at AT&T throughout her 37-year
career until her retirement in April 2021. Most recently she
was Vice President and General Manager for the AT&T portfolio
in Georgia and South Carolina. Prior to that she held a
variety of positions, including AVP for Market Development, Region
Vice President (AT&T Mobility LLC) and Vice President, AT&T
Customer Care. During a brief time between AT&T
assignments Ms. Moore served as
managing partner for a consulting practice and Region Vice
President for W.W. Grainger, Inc. Her leadership roles focused
extensively on B2B sales, marketing and operations and consumer
growth strategies through direct and indirect retail channels.
Ms. Moore served as a director
on the corporate board and compensation committee for Minneapolis based Ault, Inc prior to the sale
of the company. In addition to her extensive professional
experience, Ms. Moore's leadership
positions in the Atlanta community
include serving on the boards of Atlanta
Technical College and Women in Golf Foundation. She
previously served on the boards of Morehouse
College, Atlanta Workforce Development Agency, Atlanta
Partners for Education, Central Atlanta Progress Advisory Board,
Georgia 100 Mentor Exchange,
AT&T's Management Review Committee's Family Care Development
Fund.
Ms. Moore will join the
compensation committee and the nominating and corporate governance
committee.
"Our board regularly evaluates its composition to ensure it
includes the appropriate skills, experience and perspectives
necessary to drive growth and oversee the business," said Mr.
Robinson. "The addition of these three directors complements our
Board of Directors' skills and experiences and we are confident
they will provide valuable perspectives."
About The Aaron's Company
Headquartered
in Atlanta, The Aaron's Company, Inc. (NYSE: AAN) is a
leading technology-enabled omnichannel provider of lease-to-own and
purchase solutions. Aaron's engages in direct-to-consumer sales and
lease ownership of furniture, appliances, consumer electronics and
accessories through its approximately 1,300 Company-operated and
franchised stores in 47 states and Canada, as well as its
e-commerce platform, Aarons.com. For more information, visit
Aarons.com or investor.aarons.com.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding our
business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties which could cause
actual results to differ materially from those contained in the
forward-looking statements. Such forward-looking statements
generally can be identified by the use of forward-looking
terminology, such as "remain," "believe," "outlook," "expect,"
"assume," "assumed," and similar terminology. These risks and
uncertainties include factors such as (i) the impact of the
COVID-19 pandemic and related measures taken by governmental or
regulatory authorities to combat the pandemic, and whether
additional government stimulus payments or supplemental
unemployment benefits will be approved, and the nature, amount and
timing of any such payments or benefits, including the impact of
the pandemic and such measures on: (a) demand for the lease-to-own
products offered by us, (b) our customers, including their ability
and willingness to satisfy their obligations under their lease
agreements, (c) our suppliers' ability to provide us with the
merchandise we need to obtain from them, (d) our employees and
labor needs, including our ability to adequately staff our
operations, (e) our financial and operational performance, and (f)
our liquidity; (ii) the possibility that the operational,
strategic and shareholder value creation opportunities expected
from the separation and spin-off of the Aaron's Business into what
is now The Aaron's Company, Inc. may not be achieved in a timely
manner, or at all; (iii) the failure of that separation to qualify
for the expected tax treatment; (iv) changes in the enforcement and
interpretation of existing laws and regulations and the adoption of
new laws and regulations that may unfavorably impact our
businesses; (v) legal and regulatory proceedings and
investigations, including those related to consumer protection laws
and regulations, customer privacy, third party and employee fraud
and information security; (vi) the risks associated with our
strategy and strategic priorities not being successful,
including our e-commerce and real estate repositioning and
optimization initiatives or being more costly than anticipated;
(vii) risks associated with the challenges faced by our business,
including the commoditization of consumer electronics and our
high fixed-cost operating model; (viii) increased competition from
traditional and virtual lease-to-own competitors, as well as from
traditional and online retailers and other competitors; (ix)
financial challenges faced by our franchisees, which we believe may
be exacerbated by the COVID-19 pandemic and related governmental or
regulatory measures to combat the pandemic; (x) increases in lease
merchandise write-offs, especially in light of the COVID-19
pandemic and its adverse economic impacts; and the other risks and
uncertainties discussed under "Risk Factors" in the Company's
Annual Report on Form 10-K for the fiscal year ended December 31,
2020. Statements in this press release that are "forward-looking"
include without limitation statements about: (i) the
execution of our key strategic priorities; (ii) the growth and
other benefits we expect from executing those priorities; (iii) our
2021 financial performance outlook; and (iv) the impact on our 2021
financial performance of additional rounds of government stimulus
payments. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. Except as required by law, the Company
undertakes no obligation to update these forward-looking statements
to reflect subsequent events or circumstances after the date of
this press release.
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SOURCE The Aaron's Company, Inc.