Rent-A-Center, Inc. Announces Executive Leadership Changes to Further Position Company for Long-Term Success

Rent-A-Center, Inc. (the "Company" or "Rent-A-Center") (NASDAQ/NGS: RCII) today announced executive leadership changes to further position the Company for long-term success.

“During the last several months, we have demonstrated our ability to adapt, innovate, and execute quickly to serve customers’ essential needs. We’ve sharpened our operational focus to drive profitability, and we’ve added new customers via our digital channels. Our business is resilient and sales trends remain strong,” said Mitch Fadel, Chief Executive Officer, Rent-A-Center, Inc.

“As we look forward, we believe we are well positioned to grow the business, and we’re continuing to invest in strategic initiatives that improve the customer experience,” continued Mr. Fadel. “The organizational changes we are announcing today support our strategy to expand each of our businesses and further position Rent-A-Center for long-term success.”

Jason Hogg is joining the Company on June 22nd as Executive Vice President, Preferred Lease. Mr. Hogg was most recently the CEO of Aon Cyber Solutions, where he oversaw global operations. Mr. Hogg has a proven track record as a leader and innovator in financial services and financial technology. Prior to Aon, he served as the CEO of Blackstone’s B2R Holdings, L.P., where he led the organization to its first $1 billion in loans. He was also Founder, President and CEO of Revolution Money, Inc., an alternative payment company that was acquired by American Express; Mr. Hogg served as a President of American Express’ Serve Enterprise division post the acquisition.

As EVP of Preferred Lease, Mr. Hogg will be responsible for driving growth strategies at Preferred Lease, including partnering with national accounts, strengthening brand positioning and improving profitability. The pandemic has accelerated channel shifts at traditional retail, and Preferred Lease plays an important role to drive solutions that help new and existing retail partners increase revenues.

Ron Schoolcraft, Senior Vice President of Operations Preferred Lease, will advance to take over full operational responsibility for Preferred Lease. Mr. Schoolcraft has been with the Company for 23 years and has served in a number of key roles, most recently as our SVP of Business Development for Preferred Lease.

Anthony Blasquez has been promoted to Executive Vice President, Rent-A-Center Business. Mr. Blasquez has been with Rent-A-Center for almost 22 years and has served in a number of key roles, most recently as a Division Vice President of Operations. As EVP of the Rent-A-Center Business, Mr. Blasquez will be focused on increasing e-commerce growth, improving store performance and leveraging best practices across the franchise base. Based on experience in the Great Recession and the recent pandemic, the Company believes there are a number of key opportunities to continue to expand the Company’s customer base.