Upbound Group (UPBD) announced that Mitch Fadel has decided to retire as CEO and step down from the board after 40 years with Upbound. Executive VP and CFO Fahmi Karam will succeed Fadel as CEO and will join the company’s board effective June 1. Fadel will continue to serve as CEO and remain on the board until that time and will work closely with Karam to ensure a transition. The board has commenced an internal and external search to identify Upbound’s next CFO and has engaged an executive search firm.
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