December 21, 2011 // Franchising.com // PLANO, Texas – Colortyme, America’s oldest franchisor of independently owned-and-operated rent-to-own stores, today announced the appointment of Cathy Skula to president and CEO, effective January 1, 2012.
Reporting to Rent-A-Center President and Chief Operating Officer Mitch Fadel, Skula succeeds Bob Bloom who left Colortyme in October of this year. “Cathy brings a wealth of experience to a very important position,” said Fadel. “We’re excited about her new role.”
Most recently, Skula was division vice president at Rent-A-Center (NASDAQ: RCII), the world’s largest rent-to-own operator, of which Colortyme is an independent, wholly owned subsidiary.
Skula’s career with Rent-A-Center dates to 1994 when she accepted a position at a New Jersey store. She quickly advanced through the ranks, being named district manager and regional director before being promoted to division vice president in 2009.
Earning a Bachelor’s Degree from Dickinson College in Pennsylvania, Skula also spent a semester studying abroad at the Mendeleev University in Moscow, Russia. She resides in Frisco, Texas with her husband and their 12-year-old twins.
“I’m thrilled at the prospect of spearheading Colortyme’s growth,” said Skula, who stressed the importance of franchisee and coworker input. “Operational feedback is key to Colortyme’s continued success.”
ColorTyme, Inc., founded in 1979, is America’s oldest franchisor of independently owned-and-operated rent-to-own stores. ColorTyme franchisees operate 194 rent-to-own stores in 33 states, and the company’s custom-wheels-and-tires franchise brand, RimTyme, operates 20 stores in 12 states. ColorTyme is headquartered in Plano, Texas.
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