Aaron's, Inc. (AAN) declared a host of management changes in its wholly owned subsidiary, Progressive Leasing, in order to take the division forward on its growth trajectory.
Firstly, the company named Ryan Woodley as Progressive’s Chief Executive Officer (“CEO”). Woodley assumed this role from Jan 15, 2015. Prior to this, he was serving Progressive as Chief Operating Officer (“COO”) and Chief Financial Officer (“CFO”) since 2013.
Before joining Aaron’s Progressive, Woodley assumed several superior positions at various companies including DigiCert, Polaris Partners, Monitor Group and Google Inc. (GOOG). This man, with years of experience, also has to his credit, an MBA from Harvard Business School as well as a Bachelor of Science degree from BYU
In addition, Aaron’s promoted Blake Wakefield from his present position as Progressive’s Senior Vice President of Sales and Marketing to the subsidiary’s President and Chief Revenue Officer. Wakefield has also been with this division for almost 2 years now. However, he has a tangible18 year-long experience in sales and marketing. Prior to this, he mostly worked in the technology sector in companies like Seagate Technologies, among others.
Further, Aaron’s named Todd Jeffcoat as Progressive’s next CFO, promoting him from the post of Senior Vice President of Finance. Finally, the current Vice President of Operations, Ryan Ray was promoted to the position of Progressive’s next COO. Like the other leaders, Jeffcoat and Ray are highly qualified with immense experience in their related fields.
All the aforementioned promotions are likely to support Progressive’s growth and help it maintain its strong momentum. This lease-to-own division of Aaron’s, acquired in 2014, is now an integral part of the company and helps it to implement its strategy of catering to consumers via various channels.
Aaron’s currently carries a Zacks Rank #3 (Hold). Better-ranked retail stocks include Burlington Stores, Inc. (BURL) and Restoration Hardware Holdings, Inc. (RH), each sporting a Zacks Rank #1 (Strong Buy).
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