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Dec 14, 2016

Conn's Announces Appointment of Chief Accounting Officer and Retirement of Retail President

  • George Bchara Appointed as Vice President and Chief Accounting Officer
  • President of Retail David W. Trahan to Retire after Thirty Years of Outstanding Service with the Company

THE WOODLANDS, Texas--(BUSINESS WIRE)-- Conn's, Inc. (NASDAQ:CONN) today announced that George Bchara has been appointed Vice President and Chief Accounting Officer, effective December 14, 2016. Bchara will succeed Mark Haley who will remain with the Company for 120 days to ensure a smooth and seamless transition.

In his role, Bchara will be responsible for managing the Company's accounting, financial reporting and tax functions. Bchara will report directly to Lee Wright, the Company's Executive Vice President and Chief Financial Officer.

"George is a highly skilled accounting executive with a proven track-record of improving efficiency and productivity within a company's accounting department," said Norm Miller, Chief Executive Officer and Chairman of Conn's. "His strong credit background will bring added insight and experience that will greatly benefit our overall business."

Bchara joins Conn's from BankUnited, a publicly traded bank with a market capitalization of over $3 billion and assets of $27 billion. Since 2013, Bchara served as Chief Accounting Officer of BankUnited. He also served as Loan Controller of BankUnited from 2011 to 2013. Bchara started his career at PwC where he served in several groups and progressive roles with experience in audit, mergers & acquisitions, and general advisory within the financial services sector.

Bchara holds an M.B.A. in Finance and Entrepreneurial Management from The Wharton School of the University of Pennsylvania, and a B.S. in Accounting and Finance from Florida State University. He is also a Certified Public Accountant and a Chartered Financial Analyst charterholder.

Conn's also announced today that David W. Trahan, the Company's President of Retail, will retire on January 1, 2017 after three decades of service with the Company. Trahan joined Conn's in 1986 and has since served in various capacities, including sales, store operations, distribution and merchandising.

As President of Retail, a position he has held since 2008, Trahan was directly responsible for retail and distribution operations, merchandising and product purchasing functions, as well as product display and pricing operations. Since joining the Company, Trahan has supported the massive expansion of Conn's retail segment, growing the business from 20 stores with $100 million in sales to 113 stores with over $1.3 billion in sales.

"David has been a strong contributor to our Company for thirty years and has helped transform Conn's into the successful specialty retailer it is today," said Norm Miller, "While he will be missed, we are confident in the underlying strengths of our retail business and are excited at the opportunity to continue growing the organization's top-tier talent."

"It's been a privilege to work with one of the most recognized companies in the industry," said Trahan. I'm grateful for everything the Company and its employees have provided me with over the last thirty years and I look forward to what the next chapter in my life will bring."

About Conn's, Inc.

Conn's is a specialty retailer currently operating over 110 retail locations in Alabama, Arizona, Colorado, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee and Texas.

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, Ultra HD, and internet-ready televisions, Blu-ray players, 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 rent-to-own payment plans.

S.M. Berger & Company
Andrew Berger, 216-464-6400

Source: Conn's, Inc.

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