Lumber Liquidators Holdings, Inc. announced that Chief Executive John M. Presley is resigning effective November 9 and the board of directors has appointed the flooring retailer’s chief operating officer, Dennis R. Knowles, as his successor.
Mr. Knowles, 52 years old, who has been Lumber Liquidators’ operating chief since March, also will retain that title. His previous experience included a number of positions starting in 2001 at Lowe’s Cos., most recently as the home-improvement retailer’s chief store operations officer.
Mr. Presley, who joined the company as its CEO one year ago, had been a member of Lumber Liquidators’ board since April 2006, and served as chairman from May 2015 until last November.