RTOHQ: The Magazine, Spring 2018

6 RTOHQ The Magazine Fadel Named Rent A Centers CEO Rent A Center has announced the appointment of Mitchell E Fadel the companys former president and chief operating officer and a current board member as its permanent chief executive officer succeeding Mark Speese Speese served as interim CEO for the company following the resignation of former chief executive officer and director Robert D Davis in January of last year I want to thank Mark for his decades of dedication and service to Rent A Center says J V Lentell chairman of Rent A Centers board of directors Mark is a true pioneer in the rent to own business having founded this company and leading Rent A Center to its position as industry leader On behalf of the entire board of directors management team and co workers throughout the company we thank Mark for his countless contributions to Rent A Center and wish him all the best in the future It has been a privilege to help lead Rent A Center over so many years and I am proud to have helped build such a talented and hard working team says Speese With the company having entered its current transitional phase and the improvements in the companys portfolio as reported over the past several months I believe now is an appropriate time for me to move on from the Company Fadel assumes the position with more than 30 years of industry experience He most recently served as EZCORP Inc president and Rent A Centers president and chief operating officer from 2000 to 2015 as well as the companys director and district manager prior to that As we continue the strategic review process and move with urgency to improve performance we are fortunate to have a leader of Mitchs caliber assume the role of CEO We are grateful for his willingness to take on this important new role continues Lentell I am honored to have the opportunity to rejoin the talented Rent A Center leadership team and excited about the significant opportunity ahead for the company shares Fadel I look forward to working closely with the board and management at Rent A Center on their continuing efforts to deliver improved financial performance and enhancing stockholder value The company also recently announced that the board of directors has initiated a process to explore strategic and financial alternatives and is carefully considering a full range of options focused on maximizing stockholder value APRO on the GO APRO Visits Ohio Member Stores and Lobbyists In early November APRO Executive Director Jill McClure visited members of the Ohio Rental Dealers Association and ORDA lobbyists Vorys Advisors She visited Rent 2 Own stores in Waverly and Chillicothe with ORDA president and Rent 2 Own owner Mike Tissot and Showplace Rent to Own in Marion with owner and APRO past president Gary Ferriman McClure also toured each companys warehouses and headquarter offices It was an excellent visit two solid examples of how leading operators are innovating and creating a customer focused culture in their companies shares McClure I was most impressed by seeing firsthand the dedication of the store managers and employees The employees love their customers They work hard to provide the most positive experience possible for them McClure also had the opportunity to see the new RNR Tire Express currently under construction in Marion Ohio ORDA vice president Keith Ferriman is the owner and operator of the new store that opened in January McClure along with Tissot and Ferriman met with ORDA lobbyist David Hoeffel of Vorys Advisors to discuss current issues and events affecting operators in Ohio Former president of the Ohio Senate Tom Niehaus currently with Vorys Advisors also joined the meeting APRO Welcomes New Members RENTAL DEALERS Buddys Home Furnishings Brandon Gartman Hoffman Estates Illinois Kaapa Investments Inc dba Prime Time Kendall Austin Fincastle Virginia Scotts RTO LLC Scott Mitchell Paducah Kentucky Good Life Sales and Lease LLC Larry Pierce Pasadena Texas ASSOCIATE MEMBERS Green Barns of America Jennifer Marcus Medina Tennessee JNA Advertising John Nohe Overland Park Kansas Quast Janke Co CPAs PC Timothy J Quast Bay City Michigan ORDA President Mike Tissot former President of the Ohio Senate Tom Niehaus APRO Executive Director Jill McClure and ORDA Lobbyist David Hoeffel