Aaron’s Inc. on Aug. 27 announced that Charlie Loudermilk, the founder and leader of a company he built 57 years ago, will soon retire.
According to a statement from the company, Loudermilk will fully transition out of his role as Chairman of the Board of Directors by mid-September and will become “Chairman Emeritus” of the company.
Aaron’s is a nation-wide rent to own retail business, with nearly 2,000 stores in 48 states and Canada.
“I started Aaron’s in 1955 renting chairs for 10 cents a piece,” Loudermilk said in the company’s press release. “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.”
Loudermilk is an icon around Buckhead and Atlanta, known for his leadership and philanthropy, and in 2009 the city renamed Buckhead Triangle Park as Charlie Loudermilk Park to honor him.
To see a full statement from the company, click here.