Presley will officially take over as Lumber Liquidators’ new CEO on Nov. 16. He is replacing current CEO Thomas Sullivan. Sullivan will continue to serve on the company’s board and will act as an adviser to Presley, reports TheStreet.com.
The new CEO’s previous location of employment is First Capital Bancorp (FCVA). He served as the CEO of that company since 2008. LL shares were up on Wednesday follwoing the new CEO news, despite missed earnings for the quarter, TheStreet.com notes.
John Presley isn’t a stranger to Lumber Liquidators. The new CEO has been serving on the company’s board of directors since before it went public, reports Forbes.
LL shares were up 11% as of Wednesday afternoon.
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