Conn's Names New CEO, Completes Review

Furniture and home appliance retailer Conn's Inc. on Wednesday said it would securitize $1.4 billion of consumer debt and announced a new chief executive. The chain also completed a strategic review triggered by struggles last year with its credit-financing business. The Woodland, Texas, company announced a slightly worse-than-expected profit for its latest quarter, though revenue met Wall Street expectations. Conn's said former Sears Automotive and DFC Global President Norman Miller had become chief executive as of Labor Day. Mr. Miller succeeded Theodore M. Wright, who will remain on Conn's board as executive chairman.