April 10 Furniture retailer Rent-A-Center Inc said on Monday that founder Mark Speese, the company's interim chief executive, would take on the role full time.
The company, which is under pressure from activist investment fund Engaged Capital LLC, also said it would take steps to improve growth and profitability.
These steps include selling more higher-end, aspirational products and reducing the number of employees in stores, the company said.
Speese, who was Rent-A-Center's CEO from October 2001 through January 2014, was named interim CEO in January this year, replacing Robert Davis. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio D'Souza)
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