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Lumber Liquidators CEO Resigns Amid Toxic Flooring Allegations

Lumber Liquidators CEO Resigns Amid Toxic Flooring Allegations

May 22, 2015 | Retail Movers & Shakers

Lumber Liquidators CEO and President Robert Lynch has “unexpectedly” resigned from his position, according to a company statement. Although the retailer has started a national search for Lynch’s replacement, there is no set timetable for to find a replacement. Thomas D. Sullivan, Founder of Lumber Liquidators, will serve as the company’s acting CEO effective immediately. In addition, John M. Presley, the lead independent Director at Lumber Liquidators, has been appointed as non-executive Chairman of the Board of Directors effective immediately.

Movers & Shakers

Lumber Liquidators CEO Resigns Amid Toxic Flooring Allegations

Lumber Liquidators CEO Resigns Amid Toxic Flooring Allegations

Lumber Liquidators CEO and President Robert Lynch has “unexpectedly” resigned from his position, according to a company statement. Although the retailer has started a national search for Lynch’s replacement, there...

Bezos Selects First Woman To Take On “Shadow” Advisor Role

Bezos Selects First Woman To Take On “Shadow” Advisor Role

Amazon CEO Jeff Bezos has named Maria Renz, CEO of Quidsi, as his newest technical advisor — or “shadow,” as the position is often referred — according to a report...

Alibaba Group Promotes Zhang To CEO, Adds Board Member

Alibaba Group Promotes Zhang To CEO, Adds Board Member

Alibaba Group has promoted COO Daniel Zhang to CEO, effective May 10, 2015. Current CEO Jonathan Lu will assist Zhang through the transition process, and will remain on Alibaba Group’s...

Mergers & Acquisitions

Ascena Retail Group Buys Ann Taylor Parent Company

Ascena Retail Group Buys Ann Taylor Parent Company

Ascena Retail Group, parent company of Lane Bryant, Dressbarn and Maurices brands, has acquired ANN Inc., owner of the LOFT and Ann Taylor clothing store chains, for approximately $2.15 billion....

Delhaize Group And Ahold Enter Merger Discussions

Delhaize Group And Ahold Enter Merger Discussions

European grocery chain operators Delhaize Group and Royal Ahold NV have both confirmed that they have entered preliminary discussions to combine the two companies. No details of the potential merger,...

Verizon To Acquire AOL For $4.4 Billion

Verizon To Acquire AOL For $4.4 Billion

Verizon Communications is purchasing AOL in a transaction valued at $50 per share, for an approximate total of $4.4 billion. The acquisition is designed to further drive the telecom provider’s...

Financial News

Urban Outfitters Post Record Sales But Lags Behind Expectations

Urban Outfitters Post Record Sales But Lags Behind Expectations

Urban Outfitters, posted record sales during Q1 2015, but it still fell short of Wall Street expectations for net income, sales and earnings per share. The retailer posted $0.25 in...

Warby Parker Raises $100 Million, Eyes Brick-And-Mortar Expansion

Warby Parker Raises $100 Million, Eyes Brick-And-Mortar Expansion

Disruptive eyeglasses retailer Warby Parker has raised another $100 million in funding, bringing the company’s total valuation to $1.2 billion. T. Rowe Price led the latest funding round, which is intended...

SiteZeus Captures $2.2 Million In Series A Funding

SiteZeus Captures $2.2 Million In Series A Funding

SiteZeus, a provider of site selection technology, has secured $2.2 million in Series A funding from Chris Sullivan, who is a partner at Bloomin’ Brands and Co-Founder of Outback Steakhouse....