8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):    August 20, 2014

AARON’S, INC.

(Exact name of Registrant as Specified in Charter)

Georgia	1-13941	58-0687630
(State or other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(IRS Employer Identification No.)

309 E. Paces Ferry Road, N.E. Atlanta, Georgia	30305-2377
(Address of principal executive offices)	(Zip code)

Registrant’s telephone number, including area code: (404) 231-0011

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

As previously disclosed, Ronald W. Allen, Chief Executive Officer of Aaron’s, Inc. (the “Company”) will retire from the Company, effective August 31, 2014. On August 20, 2014, the Company’s Board of Directors appointed Gilbert L. Danielson, the Company’s Executive Vice President and Chief Financial Officer, as interim Chief Executive Officer, effective following Mr. Allen’s retirement on August 31, 2014.

As previously disclosed, the Company’s Board of Directors has begun a search process to identify Mr. Allen’s successor, and has retained Spencer Stuart to assist in the process. Mr. Danielson will retain his Chief Financial Officer responsibilities during the interim period, and does not intend to be a candidate for the permanent Chief Executive Officer role.

In connection with his appointment, Mr. Danielson will receive an award of 15,000 restricted stock units effective on September 1, 2014, which will vest on the earlier of (a) the third anniversary of the grant date, and (b) the date on which an individual other than Mr. Danielson commences employment in the role of Chief Executive Officer of the Company.

Mr. Danielson has served as the Company’s Chief Financial Officer since 1990 and Executive Vice President since 1998. Mr. Danielson was a director of the Company from 1990 until April 2014.

The Company issued a press release, dated August 21, 2014, related to these matters, which is attached hereto as Exhibit 99.1.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d)Exhibits:

Exhibit No.	Description
99.1	Press release dated August 21, 2014.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		AARON’S, INC.
	By:	/s/ Gilbert L. Danielson
Date: August 20, 2014		Gilbert L. Danielson Executive Vice President and Chief Financial Officer

EX-99.1

EXHIBIT 99.1

FOR IMMEDIATE RELEASE

Aaron’s, Inc. Appoints Gilbert L. Danielson Interim CEO

ATLANTA (August 21, 2014)-- Aaron's, Inc. (NYSE: AAN), a lease-to-own retailer specializing in the sales and lease ownership of furniture, consumer electronics, home appliances and accessories, announced today that its Board of Directors has appointed Gilbert L. Danielson, Executive Vice President and Chief Financial Officer, as interim Chief Executive Officer, effective following the retirement of Ronald W. Allen as the Company’s Chief Executive Officer on August 31, 2014, which was previously announced.

Steve Michaels, President, will continue to implement the previously announced plan to improve Aaron's core business. This plan focuses on same store revenue growth, enhancing Aaron's online platform, driving cost efficiencies, moderating new store growth, and strengthening the franchise network. As CEO of Progressive Finance and Executive Vice President of Aaron’s, John Robinson will oversee Progressive operations and will identify synergies between Aaron’s and Progressive to open new and fast-growing channels to customers who could not previously be reached. Danielson will also retain his CFO responsibilities during the interim period and will not be a candidate for the permanent CEO role.

As previously announced, the Board is undertaking a thorough search process, with the assistance of Spencer Stuart, to identify a permanent CEO. The search process includes a review of both internal and external candidates.

Ray Robinson, Chairman of Aaron’s Board of Directors, said, “We are fortunate to have such a seasoned executive in Gil to step into this role on an interim basis while the Board continues its search process. Having served as the Company’s Chief Financial Officer for more than 24 years, we are more than confident in Gil’s abilities to lead Aaron’s during this period and ensure a smooth leadership transition for the benefit of all our stakeholders.”

Danielson said, “I am honored to take on the role of interim CEO at this important time in Aaron’s history. I am excited to continue to work closely with the Board, senior leadership team and Aaron’s dedicated and hard-working employees and franchisees as we strive to achieve our business objectives and continue to drive improved results for shareholders.”

About Gilbert L. Danielson

Gilbert L. Danielson, also known as Gil, has been the Chief Financial Officer at Aaron's, Inc. since 1990 and its Executive Vice President since 1998. Mr. Danielson served as Vice President of Finance at Aaron's, Inc. from 1990 to 1998. He has more than 20 years of experience as an Officer and a Director of Aaron's, Inc. Mr. Danielson served as a Director of Servidyne, Inc. (formerly known as Abrams Industries Inc.) from 2000 to 2011.

About Aaron's, Inc.

Aaron's, Inc. (NYSE: AAN), a leader in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories, currently offers its services through more than 2,100 Company-operated and franchised stores in 48 states and Canada. Aaron's was founded in 1955, is headquartered in Atlanta and has been publicly traded since 1982. For more information, visit

www.aarons.com. Aaron's, Inc. includes the Aarons.com, ShopHomeSmart.com and ProgFinance.com brands. Progressive Finance, a wholly-owned subsidiary and leading virtual lease-to-own company, provides lease-purchase solutions through over 15,000 retail locations in 46 states.

Aaron's Media Contact:

Garet Hayes

Aaron's Director of Public Relations

678-402-3863 or garet.hayes@aarons.com