THE WOODLANDS, Texas, Aug. 04, 2021 (GLOBE NEWSWIRE) — Conn’s, Inc. (NASDAQ: CONN), a specialty retailer of furniture and mattresses, home appliances, consumer electronics and home office products, and provider of consumer credit, today announced it has appointed Chandra Holt as the Company’s new Chief Executive Officer and President, effective August 9, 2021. She will also join Conn’s Board of Directors increasing the number of directors to nine. Ms. Holt’s appointment as Chief Executive Officer and President of Conn’s follows the Board’s multi-year succession planning process. Ms. Holt succeeds Norm Miller, who will transition to the role of Executive Chairman.
Bob L. Martin, lead independent director of Conn’s Board, commented, “We are excited to welcome Chandra as Conn’s next Chief Executive Officer. Chandra is an experienced leader with a proven track record of innovating to drive growth and profitability for multi-billion-dollar retail businesses, along with demonstrated strength in serving today’s omni-channel consumer with leading edge solutions. As Conn’s continues to successfully execute on its strategic initiatives, we expect the Company to benefit from Chandra’s modern digital approach to retail and customer centric leadership.”
“Today’s announcement is the result of the Board’s succession planning and Norm’s leadership over the past six years. During his tenure as Chief Executive Officer, Norm successfully turned around our financial results, building a disciplined and sophisticated credit platform, refocused our retail strategy and assembled a best-in-class leadership team while driving record profitability. We look forward to Norm’s continued contribution to Conn’s as Executive Chairman as he works with Chandra to drive our customer first growth plan,” continued Mr. Martin.
Norm Miller, Conn’s Chairman, Chief Executive Officer and President, said, “Chandra is a proven executive and veteran leader at some of the largest and most sophisticated retailers in the world. She is the right person to lead the Company through the next phase of our growth. I look forward to working closely with Chandra to ensure a seamless transition.”
Ms. Holt stated, “I am honored to be appointed Chief Executive Officer and President of Conn’s at such an exciting time for the Company. Conn’s enjoys a differentiated value proposition focused on providing consumers with high-quality, name brand products for the home with affordable financing. I believe Conn’s is well-positioned to continue to grow, innovate and capitalize on an enormous market opportunity. I am committed to continuing to serve Conn’s customers through a combination of retail innovation and best-in-class credit offerings, and I am excited to lead Conn’s through the next chapter of the Company’s 131-year history.”
About Chandra Holt
Most recently, Chandra Holt led Walmart’s multi-billion-dollar U.S. eCommerce business, delivering over 70% growth in FY21. Previously, she was the Chief Merchandising and Integration Officer of Walmart.com where she oversaw the integration of Walmart’s stores and eCommerce merchandising divisions during Walmart’s first omni merchandising integration. Before joining Walmart, Ms. Holt held a variety of positions at Sam’s Club, including as the Chief Operating Officer of SamsClub.com. Prior to joining Sam’s Club, Ms. Holt held various leadership roles at Walgreens and Target. Ms. Holt received a B.A. and an M.B.A. from the University of Minnesota.
About Conn’s, Inc.
Conn’s is a specialty retailer currently operating 150+ retail locations in Alabama, Arizona, Colorado, Florida, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia.
The Company’s primary product categories include:
- Furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom, as well as both traditional and specialty mattresses;
- Home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges;
- Consumer electronics, including LED, OLED, QLED, 4K Ultra HD, and 8K televisions, gaming products, next generation video game consoles and home theater and portable audio equipment; and
- Home office, including computers, printers and accessories.
Additionally, Conn’s offers a variety of products on a seasonal basis. Unlike many of its competitors, Conn’s provides flexible in-house credit options for its customers in addition to third-party financing programs and third-party lease-to-own payment plans.
