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Aaron Rents names new chief executive

By Associated Press
June 16, 2008 | Comments (0)

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Aaron Rents Inc., which sells and rents furniture, on Monday named Robert C. Loudermilk Jr. president and chief executive.

He replaces his father, R. Charles Loudermilk Sr., who remains chairman.

Loudermilk Jr., 49, was previously president and chief operating officer.

In a statement, Loudermilk Sr., who founded the company, said he would be actively involved in helping Loudermilk Jr. in setting up strategy and other areas.

In April the company reported profit fell 15 percent, but beat expectations, as revenue rose 13 percent and the company said it slowed new-store expansion to focus on execution and profitability amid a weak home furnishings environment.

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