PROG Holdings

#5608

Rank

$1.29B

Marketcap

United States

Country

Leadership team

Mr. Steven A. Michaels (CEO, Pres & Director)

Mr. Curtis Linn Doman (Founder, Chief Technology & Innovation Officer and Director)

Mr. Brian J. Garner (Chief Financial Officer)

Products/ Services

Financial Services, FinTech, Payments

Number of Employees

1,000 - 20,000

Headquarters

Salt Lake City, Utah, United States

Established

1955

Company Registration

SEC CIK number: 0001808834

Net Income

100M - 500M

Revenue

Above - 1B

Traded as

PRG

URL

https://investor.progleasing.com

Overview

Location

Recognition and Award

References

Summary

PROG Holdings, Inc. operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in two segments, Progressive Leasing and Vive. The Progressive Leasing segment offers lease-purchase solutions to customers for various merchandize in the furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, and automobile electronics and accessories markets through point-of-sale and e-commerce retail partners, as well in-store, mobile, and online solutions. The Vive segment provides second-look and revolving credit products to customers that may not qualify for traditional prime lending through private label and Vive-branded credit cards. It offers lease-purchase solutions through approximately 24,000 third-party point-of-sale partner locations and e-commerce websites in 49 states and the District of Columbia. The company was formerly known as Aaron's Holdings Company, Inc. and changed its name to PROG Holdings, Inc. in December 2020. PROG Holdings, Inc. was founded in 1955 and is based in Draper, Utah.

History

Aaron Rents, Inc. was founded by R. Charles Loudermilk, Sr. in 1955.In September 2008, Aaron's announced the sale of its Corporate Furnishings division to CORT Business Services, part of Berkshire Hathaway. Aaron's Corporate Furnishings division, which operated 47 stores, recorded revenues of approximately $99 million in 2007.As of December 31, 2016, Aaron's had 1,864 stores located in 28 states and the District of Columbia and Canada. In addition, they had 699 independently-owned franchised stores in 46 states and Canada.On July 29, 2020, Aaron’s Holdings Company, Inc. announced plans to split into two companies: PROG Holdings, Inc. and The Aaron’s Company, Inc. PROG Holdings, with the ticker symbol "PRG" , remained in the S&P Midcap 400 stock index but its Global Industry Classification Standard was changed to "Consumer Finance". The Aaron's Company continueed to trade under the ticker symbol "AAN" but was moved into the S&P Smallcap 600.

Mission

At PROG Holdings, our mission is to create and foster sustainable businesses through investing in and helping develop our portfolio companies.

Vision

Our vision is to become a global leader in the provision of investment management services for both corporate and government clients, providing the highest level of service and a commitment to long-term growth.

Key Team

Mr. Trevor Thatcher (Chief Operations Officer)

Mr. George Matt Sewell (Principal Accounting Officer & VP of Financial Reporting)

Mr. John Allen Baugh C.F.A. (VP of Investor Relations)

Mark Delcorps (Director of Corp. Communications)

Ms. Debra A. Fiori (Chief People Officer)

Mr. Ryan Ray (Pres of Lending)

Mr. Majdi Haroun (Sr. VP of Engineering)

Recognition and Awards

PROG Holdings has received numerous awards, including the prestigious Hermes Award for Excellence in Investment Management , the Golden Globe Award for Innovation in Investing and the Financial Times Award for Most Innovative Investment Firm .