Rent-A-Center has appointed Mitchell Fadel, the company’s former president and chief operating officer and a current member of its board of directors, CEO, effective immediately.
Fadel’s appointment follows Mark Speese’s decision to resign as CEO. Fadel will continue his role as a member of the board. The company also reiterated its commitment to its previously announced strategic review process.
“On behalf of the entire board, I want to thank Mark for his decades of dedication and service to Rent-A-Center,” said J.V. Lentell, chairman of the Rent-A-Center 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.”
Lentell continued, “As we continue the strategic review process and move with urgency to improve performance, we are fortunate to have a leader of Mitch’s caliber assume the role of CEO. He has previously spent more than 30 years in various positions at Rent-A-Center, and we are grateful for his willingness to take on this important new role.”