RH Announces the Appointments of Eri Chaya, Karen Boone, and DeMonty Price to the Positions of Co-President
New Structure Creates an Office of the President, Reporting to
Chairman and Chief Executive Officer
Mr. Friedman continued, "We believe traditional organizational structures that are not engineered for constant innovation will fall behind those that understand the power of collaboration and the integration of people, products, processes, ideas and inspiration where the whole becomes more valuable than the parts. We believe that flat, fast, highly collaborative teams, like the one we have announced, will prove to be the winners in this quickly evolving and dynamic multi-channel consumer retail marketplace."
"Over 10 years ago we were one of the first retailers to fully integrate our organization and infrastructure to support a multi-channel retail experience. We have been thought leaders as it relates to the use of printed Source Books and the dramatic transformation of our physical retail Galleries in a digital world. I believe we will also look back on this new structure as an innovative approach to leading broad complex multi-channel organizations in a rapidly changing business landscape," added Mr. Friedman.
DeMonty Price has been promoted to the position of Co-President, Chief
Operating, Service and Values Officer, and will lead all service and
operational functions for the Company, including all retail Galleries,
care centers, distribution centers, home delivery and supply chain
functions, as well as the Company's interior design, contract, and
outlet businesses.
Mr. Friedman concluded, “This team embodies the RH Values and Beliefs. They are fearless and selfless leaders who will fight for our culture, our customers, and our cause. I am proud and honored to be working alongside them as we strive to create one of the most innovative and admired brands in the world."
Other executives reporting to Mr. Friedman in this new structure include
About RH
RH (
Forward-Looking Statements
This release contains forward-looking statements within the meaning of
the federal securities laws including statements related to the new
organizational structure of the Company, the allocation of
responsibilities within the organization to individual managers, the
lines of reporting within the management team, the anticipated benefits
of the current changes to the organization structure, the expected
advantages of flatter organizational structures including with respect
to the ability of those organizations to innovate more rapidly and any
statements or assumptions underlying any of the foregoing. You can
identify forward-looking statements by the fact that they do not relate
strictly to historical or current facts. These statements may include
words such as “anticipate,” “estimate,” “expect,” “project,” “plan,”
“intend,” “believe,” “may,” “will,” “should,” “likely” and other words
and terms of similar meaning in connection with any discussion of the
timing or nature of future events. We cannot assure you that future
developments affecting us will be those that we have anticipated.
Important risks and uncertainties that could cause actual results to
differ materially from our expectations include, among others, our
ability to retain key personnel; successful implementation of our growth
strategy; general economic conditions and the impact on consumer
confidence and spending; changes in customer demand for our products;
factors affecting our outstanding convertible notes including our need
to repay the convertible notes in cash in certain circumstances; our
ability to anticipate consumer preferences and buying trends, and
maintaining our brand promise to customers; changes in consumer spending
based on weather and other conditions beyond our control; risks related
to the number of new business initiatives we are undertaking; our
ability to obtain our products in a timely fashion or in the quantities
required; our ability to employ reasonable and appropriate security
measures to protect personal information that we collect; our ability to
support our growth with appropriate information technology systems;
risks related to the integration of businesses we may acquire, as well
as those risks and uncertainties disclosed under the sections entitled
“Risk Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in Restoration Hardware Holdings’
Form 10-K filed with the
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Source:
Restoration Hardware Holdings, Inc.
Cammeron McLaughlin,
415-945-4998
SVP, Investor Relations and Strategy
cmclaughlin@rh.com