This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Charlie Loudermilk Retires 57 Years After Founding Aaron's

ATLANTA, Aug. 27, 2012 /PRNewswire/ -- Aaron's, Inc. (NYSE: AAN), a lease-to-own retailer specializing in the sales and lease ownership of residential furniture, consumer electronics, home appliances and accessories, announced today Chairman of the Board of Directors, R. Charles Loudermilk, Sr., will retire mid-September after founding and building Aaron's, now in its 57 th year of operation.  Upon his retirement, Loudermilk will become Chairman Emeritus of the Company.

(Logo: )

"I started Aaron's in 1955 renting chairs for 10 cents a piece," Loudermilk said. "I never dreamed that Aaron's would grow into a publicly traded company employing more than 11,000 people and serving millions of Americans. I have given my heart and soul to this Company over the past 57 years, and I'm truly proud of everything it has become. Though it was one of the most difficult decisions I have ever made, the time has come for me to leave the Company and focus on personal endeavors that bring me joy. I am deeply indebted to the entire Aaron's family for their ongoing love and support.  I'm thrilled to be retiring with the confidence that Aaron's will carry on its legacy of community, quality and superior service."

Ray M. Robinson, lead director of Aaron's Board of Directors, said, "Few can enter retirement with Charlie Loudermilk's history of excellence. He has achieved tremendous business success, served his community as a great civic leader and above all, he has been a loving father and grandfather. He leaves incredibly large shoes to fill, but we want Charlie to know that the Aaron's leadership team will continue to grow and build the Company that Charlie committed himself to throughout the years."

"Charlie's impact can genuinely be felt coast to coast," said Ronald W. Allen, CEO and President. "Not only has he built a Company that offers exceptional service to more than 1.5 million customers at nearly 2,000 stores across North America, but he has provided jobs to thousands of people and aided thousands more through his many philanthropic efforts. He is truly one of the nation's great success stories while never forgetting his roots. Now at 85, he can devote his full energies on what he loves most – spending time with family. We are profoundly grateful for everything he has done for his community and Aaron's, and we wish him the very best in retirement."

Loudermilk and a partner founded Aaron Rents in 1955 after borrowing $500 to purchase folding chairs and renting them for 10 cents a day to auction houses. The Company was renamed Aaron's, Inc. in 2009. Though Aaron's started in Atlanta, it now has more than 1,985 Company-operated and franchised stores in the U.S. and Canada.

In 2011, Loudermilk was presented with the prestigious Four Pillar Tribute award by the Council for Quality Growth. The Atlanta City Council voted to change the name of Buckhead Triangle Park to Charlie Loudermilk Park in 2009 in honor of his contributions to economic development in Buckhead.  In 2008, Loudermilk was awarded the Association of Progressive Rental Organization's 2008 Lifetime Achievement Award and was named the Business to Business 2008 Philanthropist of the Year.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.01 1.05%
FB $99.75 -4.15%
GOOG $682.74 -0.12%
TSLA $147.99 -8.99%
YHOO $27.05 -3.29%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs