Toano, Va., USA - November 5, 2015, Toano, Va., USA - Lumber Liquidators, a specialty retailer, announced that it has appointed John M. Presley as chief executive officer, effective November 16, 2015.
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Mr. Presley has been a Director of Lumber Liquidators since April 2006, and was appointed Chairman of the Board in May 2015.
Previously, he served as the Chief Executive Officer of First Capital Bancorp since 2008.
Prior to March 2008, he was Head of Strategic Initiatives at Fifth Third Bancorp, where he was responsible for executing banking strategies in existing and emerging markets. He served as Chief Financial Officer for Marshall & Ilsley Corp. from 2004 to 2006.
Earlier in his career, he was Chief Financial Officer of National Commerce Financial Corp. in Memphis, Tennessee, and President and Chief Executive Officer of First Market Bank in Richmond, Virginia.
Mr. Presley holds a B.A. in Economics and Business Administration from Rhodes College. He will continue to serve as a member of the Board.
He succeeds Thomas D. Sullivan, the Company's Founder, who has served as Acting Chief Executive Officer since May 21, 2015.
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.
Mr. Sullivan founded Lumber Liquidators. Prior to returning to management as Acting Chief Executive Officer in May 2015, he served as Chairman of the Board of Directors from Lumber Liquidators' inception in 1994 through May 2015.
Prior to September 2006, he also served as President and Chief Executive Officer since the Company's incorporation in 1994. Mr. Sullivan serves on the Board of Directors of several privately held companies.
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.
Ms. Taylor has been a Director of Lumber Liquidators since April 2014. She previously served as the President and Chief Executive Officer of Tredegar Corporation from January 2010 to June 2015.
Prior to that, she was Executive Vice President of Tredegar responsible for corporate business development in addition to her role as President of Tredegar Film Products. Previously, she served in roles of increasing responsibility at Tredegar since she joined the company in 1991. ■