CORTE MADERA, CA- Restoration Hardware Holdings, Inc. (NYSE: RH) announced the resignation of Carlos Alberini from his position as Co-Chief Executive Officer of the Company, effective January 31, 2014. Mr. Alberini has accepted the position of Chairman of the Board and Chief Executive Officer of Lucky Brand, in Los Angeles, effective upon closing of the pending acquisition by Leonard Green & Partners, L.P. Mr. Alberini plans to continue to serve as a member of the Board of Directors of Restoration Hardware Holdings, Inc. and remain a significant shareholder of the Company.
Gary Friedman, Chairman and Co-Chief Executive Officer, said, “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.”
Mr. Friedman continued, “Carlos has been a tremendous partner to me personally, and while disappointed to not have our relationship continue in its current capacity, I am thrilled we will have the opportunity to work together at the Board level in our quest to build one of the most innovative and admired brands in the industry.”
Carlos Alberini said, “I have been presented with an opportunity to fulfill my lifelong dream to run and build a company. Leaving RH has been one of the most difficult decisions I have ever made in my career. 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.”
In closing, Mr. Friedman commented, "We are developing a transition plan and will initiate a search for Carlos’ replacement shortly. I am confident that our exceptional leadership team will continue to drive industry leading growth and results. From all of us at TeamResto, I wish Carlos, his wife Andrea, and their entire family much love and happiness in this next adventure as they return to their former home in Los Angeles."
About Restoration Hardware Holdings, Inc.
RH (Restoration Hardware Holdings, Inc. - NYSE:RH) is a curator of design, taste and style in the luxury lifestyle market. The Company offers collections through its retail galleries, source books, and online at RH.com.
Source: Restoration Hardware
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