Lumber Liquidators Announces Change in Leadership

Lumber Liquidators (the “Company”) announced that Dennis R. Knowles has resigned as President and Chief Executive Officer and as a member of the Board of Directors, effective February 5, 2020. The Board of Directors has appointed Charles E. Tyson, the Company’s Chief Customer Experience Officer, as Interim President and Principal Executive Officer and Mr. Knowles’ duties will be divided between Mr. Tyson and Nancy A. Walsh, the Company’s Chief Financial Officer, while the Board of Directors conducts a Chief Executive Officer search of internal and external candidates. The Board is engaging a national recruitment firm to assist with this search.  Mr. Tyson also will remain the Chief Customer Experience Officer. Mr. Tyson and Ms. Walsh will each report to the Board of Directors.

Mr. Tyson joined the Company in June 2018 after serving in several key senior executive roles for Advance Auto Parts, Inc. As the Company’s Chief Customer Experience Officer, Mr. Tyson has been responsible for the Company’s merchandising and marketing, consumer and pro sales, installation, distribution and, now additionally, store operations. Among other initiatives, Mr. Tyson has led the Company’s digital strategy including the development and introduction of its innovative new online tools for customers.

Nancy Taylor, Chairperson of the Company, said, “On behalf of the entire Board, I would like to thank Dennis for his steady hand and tireless efforts in the face of many challenges during his tenure as CEO.  We wish him well in his future endeavors.”

Mr. Knowles commented, “I am proud of the work we have accomplished to resolve many outstanding issues for Lumber Liquidators, and want to thank the employees of Lumber Liquidators for their support and commitment.”

Mr. Tyson said, “I appreciate the confidence of the Board and the opportunity to lead the Company during this transition period. We have a strong leadership team and, together, we are excited to continue our transformational strategy.”

About Lumber Liquidators

Lumber Liquidators is one of North America’s leading specialty retailers of hard-surface flooring with 419 stores as of September 30, 2019.  The Company features more than 400 varieties of floors in the latest styles, including solid and engineered hardwood, bamboo, cork, laminate, waterproof vinyl plank and porcelain tile flooring.  Additionally, Lumber Liquidators provides a wide selection of flooring enhancements and accessories to complement, install and maintain new floors.  Every location is staffed with flooring experts who can provide advice, pro services and installation options for all of Lumber Liquidators’ products, much of which is in stock and ready for delivery.

Source: Lumber Liquidators Holdings, Inc.