What Happened?

About the Company

In the 1960s, Ernie Talley owned a retail company in Wichita, Kansas. He saw many hardworking customers who either did not have the cash to purchase goods for their homes or who had been turned down for credit. Seeing them leave empty-handed gave him an idea to rent used merchandise with an option to own it. The idea soon caught on with consumers. Talley opened the first rent-to-own store, Mr. T`s TV Rental, in Tulsa, Okla., offering new and pre-leased products. A concept, born out of the desire to serve the needs of customers who lacked the cash or financing to buy the products they wanted and needed, has today grown into a $6.7 billion dollar industry serving millions of customers. Rent-to-own, rental purchase or rent with an ownership option — depending on which state you live in — is a unique transaction different from other retail transactions. At RAC, we offer quality merchandise, 90 days same as cash and convenient payment options; delivery, set-up and service at no extra charge (with loaners if needed); and lifetime reinstatement. All of this is provided with no down payment or credit needed. Where else can you find a transaction that allows you to furnish your home with the merchandise you need and want with no financial obligation, down payment or the worry of repair bills? Today, more than one million customers rely on the brand-name products and services Rent-A-Center provides. Rent-A-Center owns and operates more than 3,000 stores in 50 states, Washington, D.C., Canada, and Puerto Rico. Our corporate headquarters are located in Plano, Texas.

About the Person

Herman Nell is Senior Vice President and Chief Information Officer for Rent-A-Center. Previously at PETCO. He brings more than twenty years of global management experience in the fields of information technology, accounting and finance, as well as extensive experience in large-scale enterprise systems transformations. Before joining Rent-A-Center, he most recently served as VP & CIO of PETCO and Executive Vice President and CIO for School Specialty Inc., a consumer goods supplier to the education and retail industries based in Greenville, WI. Previously, he held the same position at FISKARS Brands, Inc. Also held were senior roles in information technology at Motorola and the Medusa Corporation, and was a principal consultant for Deloitte & Touche LLP. Nell is a founding member of the Technology Leadership Forum of the Retail Industry Leadership Association. He earned a master's degree in business economics from the University of Stellenbosch in South Africa.