After 44 years with the company, Chairman and CEO Paul Arnold has retired, according to CORT Event Furnishings. Jeff Pederson, president since 2006 following two years as CFO, is the company's new chief executive.
"There is no doubt that Paul Arnold has established CORT as the leader in the furniture rental industry," Pederson said. "We will miss his vision, leadership and his passion for doing what's right for the business, customers and CORT employees."
Arnold, whose tenure officially ended July 1, joined CORT in 1972 and has served as its CEO for 20 years. Under his direction, the firm — now a Berkshire Hathaway company — has become the world's largest provider of rental furniture for trade shows and events, now employing more than 2,000 people in 100 offices across the United States and in the United Kingdom.
"It has been my pleasure to serve the customers and the employees of CORT throughout the years," Arnold said. "My experience at CORT has been truly rewarding and CORT's executive team is well positioned to take the company to the next level. With trusted leadership at the help, I am confident and excited about the future of CORT and what the company will be able to accomplish."