Rent-A-Center’s new independent director

Olshan advised Engaged Capital on the successful proxy campaign

Engaged Capital reached an agreement with Rent-A-Center, Inc. pursuant to which Rent-A-Center will nominate one new independent director, to be proposed by Engaged Capital, at the 2018 annual meeting.

Engaged Capital’s new director nominee will replace a current director on Rent-A-Center’s Board. Rent-A-Center also agreed to terminate its poison pill prior to the 2018 annual meeting. Previously, Engaged Capital led a successful proxy campaign at Rent-A-Center where all three of Engaged Capital’s director nominees were overwhelmingly elected to Rent-A-Center’s Board at the 2017 annual meeting.

Rent-A-Center, Inc., together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company, led by Mitchell E Fadel, Christopher A Korst and Joel M Mussat in 2016 recorded $2.963 Billion Revenues.

Olshan advised Engaged Capital with a team including Steve Wolosky (Picture) and Ryan Nebel.

Involved fees earner: Steve Wolosky – Olshan Frome Wolosky LLP; Ryan Nebel – Olshan Frome Wolosky LLP;

Law Firms: Olshan Frome Wolosky LLP;

Clients: Engaged Capital, LLC;

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Author: Ambrogio Visconti