CORTE MADERA, CA- Restoration Hardware Holdings Inc.'s Carlos Alberini is resigning from his role as co-CEO of the furniture and hardware retailer effective Jan. 31, to instead become the CEO and chairman of apparel firm Lucky Brand.
The announcement was made as Restoration Hardware (NYSE:RH) recorded a net revenue increase of 39% for the third quarter fiscal which ended Nov. 2.
Alberini shared the CEO post with Gary Friedman. “On behalf of myself, the board and the entire RH team, I want to express our deepest thanks to Carlos for the numerous contributions he has made as co-chief executive officer. His leadership has been invaluable, and we are delighted with his continuing service as a member of our Board of Directors,” Friedman, chairman and co-CEO said in a statement.
Plans are underway to find a replacement for Alberini's position, Friedman added.
"Leaving RH has been one of the most difficult decisions I have ever made in my career," Alberini said in the statement. "Gary and I have built an extraordinary relationship, which I treasure and will miss. These past few years with Gary and the RH team have been extremely rewarding and fulfilling and I am so proud of our accomplishments. I am honored and thrilled that I will continue to have the opportunity to serve on the Board, and plan to remain a significant shareholder in what I believe will be recognized as one of the greatest retail stories of all time.”
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