Aaron's Names Gilbert Danielson Interim CEO - Quick Facts

(RTTNews) - Aaron's Inc. (AAN) announced Thursday that its board has appointed Gilbert Danielson, Executive Vice President and Chief Financial Officer, as interim Chief Executive Officer, effective following the retirement of Ronald Allen as the company's Chief Executive Officer on August 31, 2014, which was previously announced.

Gilbert Danielson has been the Chief Financial Officer at Aaron's, Inc. since 1990 and its Executive Vice President since 1998. Danielson served as Vice President of Finance at Aaron's, Inc. from 1990 to 1998. He has more than 20 years of experience as an Officer and a Director of Aaron's, Inc. Mr. Danielson served as a Director of Servidyne Inc. (formerly known as Abrams Industries Inc.) from 2000 to 2011.

In addition, the company stated that Steve Michaels, President, will continue to implement the previously announced plan to improve Aaron's core business.

As CEO of Progressive Finance and Executive Vice President of Aaron's, John Robinson will oversee Progressive operations and will identify synergies between Aaron's and Progressive to open new and fast-growing channels to customers who could not previously be reached.

Danielson will also retain his Chief Financial Officer responsibilities during the interim period and will not be a candidate for the permanent Chief Executive Officer role.

As previously indicated, the Board is undertaking a thorough search process, with the assistance of Spencer Stuart, to identify a permanent Chief Executive Officer. The search process includes a review of both internal and external candidates.