Rent-Way (RWY) will
hold it's annual stockholders meeting at the Clarion Hotel
in Erie, Pennsylvania on Wednesday, March 10, 2004 at 10:00 a.m.
Both William Morgenstern and John Higbee are up
for re-election to the board of directors.
William E. Morgenstern, a founder of the
Company, has served as its Chief Executive Officer and as a
director since its formation in 1981. In October 1999, Mr.
Morgenstern was elected Chairman of the Board of the Company.
Mr. Morgenstern began his rental-purchase industry career with
Rent-A-Center, Inc. in 1979 in Ft. Worth, Texas. While employed
by Rent-A-Center, he held the positions of store manager and
district manager. Mr. Morgenstern is a former President of the
Pennsylvania Association of Rental Dealers. Currently, Mr.
Morgenstern is a member of the Board of Directors of Hamot
Health Foundation, a non-profit organization that operates Hamot
Medical Center, a tertiary medical center located in Erie,
Pennsylvania. Mr. Morgenstern also serves as Chairman of the
Board of Directors of Hamot Medical Center.
John W. Higbee has been a director of the Company since November
2001. From April 2002 to August 2003, Mr. Higbee was Chief
Financial Officer of Le-Nature's, Inc., a privately held company
engaged in the all natural beverage business. Prior to that, he
was a partner of Arthur Andersen LLP for over twenty years.
Information regarding other Rent Way board members and executive
Gerald A. Ryan, a founder of the Company, served
as Chairman of the Board of the Company from 1981 to October
1999 and as a director since its formation in 1981. Mr. Ryan
currently serves as Chairman Emeritus of the Board and as a
consultant to the Company. Mr. Ryan has also been instrumental
in the formation of several other companies, including Spectrum
Control, Inc. He presently serves as Chairman of the Board of
Spectrum Control. Mr. Ryan is also President and Chairman of the
Board of Erie Business Management Corp., a privately owned real
estate development company, and Chairman of the Board of
Automated Industrial Systems.
William Lerner has been a director of the
Company since November 1992 and its corporate Secretary since
January 1993. Mr. Lerner is a practicing attorney in New York
since 1961 and in Pennsylvania since 1990. Mr. Lerner is also a
director of Seitel, Inc., Micros-to-Mainframes, Inc. and
Cortland Trust, Inc.
Robert B. Fagenson has been a director since
August 1993. He has, for more than the past five years, been
President and a director of Fagenson & Co., Inc., an investment
securities firm. Since June 2000, Mr. Fagenson has served as
Vice Chairman of the Management Committee of Van der Moolen
Specialists USA, LLC. Mr. Fagenson is also a director of Cash
Technologies, Inc. and was elected to the Board of Directors of
the New York Stock Exchange for a two-year term which commenced
on June 5, 2003. On December 17, 2003, Mr. Fagenson resigned as
a director of the New York Stock Exchange.
Marc W. Joseffer has been a director of the
Company since May 1994. Since April 1997, Mr. Joseffer has
served as Vice President of Greenleaf Distributors, Inc., a pet
food and pet products distributor. From May 1994 through October
1996, he was employed by the Company in various management
positions. For more than five years prior thereto, he was Vice
President and a principal shareholder of D.A.M.S.L. Corp., a
private company engaged in the rental purchase business.
D.A.M.S.L. was acquired by the Company in May 1994. Mr. Joseffer
is a director of Greenleaf Distributors, Inc., a director of
Jones & Joseffer, Inc. and a director and Vice President of
Holimont, Inc., all privately-held corporations.
Jacqueline E. Woods has been a director of the
Company since March 1999. Ms. Woods is a nationally-recognized
educator and specialist in adult education, community colleges
and education public policy. Ms Woods is currently the Executive
Director of the American Association of University Women (AAUW),
an association of three corporations that address education and
equity issues of girls and women nationwide. In 1996, former
President Clinton appointed her as the Director of the Liaison
Office for Community Colleges for the U.S. Department of
Education. From 1993 to 1996, Ms. Woods served as Vice
Chancellor for External Affairs for the City Colleges of
Chicago. Prior to that, she served as the Vice President for
Institutional Advancement for the Community College of
Philadelphia, and earlier in her career, held various other
senior level positions at higher education associations and
institutions. Ms. Woods also serves as a director of the Pivot
Point, Inc., a privately-held corporation, and as a director on
several non-profit boards, including the National Council for
Women's Organizations and the Ms. Magazine Advisory Board.
William A. McDonnell was hired by the Company on
February 1, 2000 as Vice President and Chief Financial Officer.
Prior to his employment with the Company, Mr. McDonnell was a
director in the Global Distribution Group for the Bank of
Montreal. Prior to that position, Mr. McDonnell was Vice
President and Relationship Manager in the Emerging Majors Group
for Harris Bank.
Ronald D. DeMoss was elected Vice President and
General Counsel of the Company in February 1996. From June 1990
through November 1995, Mr. DeMoss was employed as a corporate
counsel for Rent-A-Center, Inc. and, in such capacity, managed
successful efforts for the enactment of rental-purchase
legislation in eleven states. During 1995, Mr. DeMoss also
served as Rent-A-Center's Director of Government Relations. Mr.
DeMoss is a member of the Board of Directors of The Association
of Progressive Rental Organizations, or APRO, and currently
serves on APRO's Government Relations Committee. From 1981
through 1990, Mr. DeMoss was a practicing attorney in Wichita,
William S. Short was hired by the Company in
July 1996 and served in various operations positions including
Executive Vice President - Operations, Divisional Vice President
- Operations, Vice President of Operations Administration,
Director of Operations and Regional Manager. In July 2002, he
was appointed Senior Vice President of Operations. Prior to his
employment with the Company, he was employed by Rent-A-Center,
Inc. for twelve years where he held various field positions, the
last being Market Manager.
John A. Lombardi was hired by the Company in
April 2001 as Vice President, Corporate Controller and Chief
Accounting Officer. From August 1997 until he joined the
Company, Mr. Lombardi served as the Chief Financial Officer and
Treasurer at Community Rehab Centers, Inc. in Boston,
Massachusetts. During 1996 and 1997, he served as Executive Vice
President, Chief Financial Officer and Treasurer of Northstar
Health Services Inc. From 1986 to 1996, Mr. Lombardi worked in
the specialty consulting services and audit and business
advisory services practices of Arthur Andersen LLP. Mr. Lombardi
is a certified public accountant, a certified insolvency and
reorganization accountant, and a certified fraud examiner.
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