Aaron’s CEO resigns for health reasons

New York City -- The president and CEO of Aaron's Inc. has resigned.

Robert C. Loudermilk, the son of the company's founder, announced his resignation Friday afternoon. In a statement, the appliance and furniture-rental company said Loudermilk was leaving due to health reasons. He also resigned from Aaron's board of directors.

Ronald W. Allen, former chairman and CEO of Delta Air Lines, will serve as Aaron's interim president and CEO.

Aaron’s operates more than 1,900 stores in 48 states. Last week, it reported its third-quarter earnings rose 7.1% as revenue grew in its sales and lease ownership segment.

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