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Conn's Promotes CFO, Hires Successor

4/23/2012 11:58:03 AM Eastern

Beaumont, Texas - Conn's
has promoted executive VP/chief financial officer Michael Poppe to COO and has
hired Schlumberger exec Brian Taylor to succeed him.

The changes are
effective today.

Separately, the
company said it will begin moving members of its senior management team and
other functions from headquarters here to offices in nearby Houston this
summer.

Poppe had served as
chief financial officer since 2008 and was named an executive VP in 2010. In
his new role, he will be responsible for the regional majap, furniture and CE
chain's credit and service operations and human resource and legal functions.

He joined the
company from Arthur Andersen in 2004 as controller, assistant chief financial
officer and assistant treasurer.

"Mike has been a
key contributor to our success and I am looking forward to working with him as
his role changes," said Conn's chairman/CEO Theo Wright.

Taylor, who will also
carry an executive VP title, will be primarily responsible for the company's
accounting, treasury, internal audit and risk-management functions. He previously
held various financial management roles with Smith International, including
corporate VP and controller, and most recently served as finance integration
manager at Schlumberger following its acquisition of Smith.

"We feel very
fortunate to have someone of Brian's caliber join the company as we develop and
strengthen our management team and prepare for the next phase of the company's
growth," Wright said.

In other Conn's
news, the company said it will move about 50 of its 400 headquarters personnel
to offices in Houston this summer, where some of its functions are already
based. Poppe told the local Beaumont
Enterprise
that he and CEO Wright will operate primarily out of the Houston
facilities, while retail president David Trahan will maintain offices in both
locations.

Joining them in
Houston will be the merchandising, advertising and internal auditing teams, as
well as several accounting personnel.

Pope told the
newspaper that Houston was chosen for its proximity to Beaumont, and that
basing senior management there will make it easier for them to travel and meet
with vendors as the company expands.

"We have the call
center in San Antonio, corporate functions in Beaumont and a smaller group in
Houston -- that will get everybody situated in the right place for a long time
to come," he told the newspaper.

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