Aaron’s has named Chief Financial Officer Gilbert Danielson as interim chief executive officer, the Atlanta-based furniture, appliances and electronics rental chain announced Thursday.
Danielson replaces Ron Allen, who will retire as CEO Aug. 31. The company has hired executive recruitment firm Spencer Stuart to help it find a permanent successor to Allen.
Allen, a former Delta Air Lines CEO who was named Aaron’s chief executive in 2012, is stepping down following intense pressure to improve the once-profitable company’s financial performance.
Danielson, who will retain his responsibilities as CFO, has been in his current position since 1990 and executive vice president since 1998.
Aaron’s has more than 2,100 company-operated and franchised stores in the U.S. and Canada.
On Wall Street, Aaron’s stock was trading around $25.43, which is closer to its 52-week low of $24.75 than to the stock’s 52-week high is $36.74.
