Mr. Sullivan will serve as Special Advisor to the CEO and remain on the Board as Founder. In his new role, Mr. Sullivan will assist Mr. Presley in an advisory capacity to provide guidance and ensure continued progress toward executing the Company's vision and long-term strategy.
Nancy M. Taylor, who has been a Lumber Liquidators Director since April 2014, will assume Mr. Presley's previous role of Independent Chairman of the Board and Head of the Special Committee. Mr. Presley will continue to serve as a member of the Board.
Mr. Presley has more than 30 years of leadership experience with significant operational, financial, turnaround and risk management expertise. Mr. Presley joined Lumber Liquidators as a Director in April 2006, prior to the Company's initial public offering, providing him with the insight, perspective and knowledge of the business to lead the Company forward as it enters its next phase of growth.
"I look forward to working closely with John on our efforts to continue the 'back to basics' strategy of focusing on offering quality hardwood flooring at the best price from the most knowledgeable flooring experts in the industry," said Mr. Sullivan.
With more than 370 locations, Lumber Liquidators is North America's largest specialty retailer of hardwood flooring.
