By Roger Yu
Lumber Liquidators (LL), the embattled hardwood flooring retailer, said Thursday that CEO Robert Lynch “unexpectedly” resigned, following weeks of struggles stemming from safety concerns related to its products.
Shares of the company plummeted 16.5% in regular trading to $21.10.
The Toano, Va.-based company will search nationally for a replacement, it said. Company founder Thomas Sullivan will serve as acting CEO.
Lynch also stepped down from the board of directors. John Presley, its lead independent director, will be non-executive chairman of the board. The appointments are effective immediately.
“Read the Full Article at www.usatoday.com >>>>”
ATTENTION READERS
We See The World From All Sides and Want YOU To Be Fully InformedIn fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.
About VT - Policies & Disclosures - Comment Policy
Due to the nature of uncensored content posted by VT's fully independent international writers, VT cannot guarantee absolute validity. All content is owned by the author exclusively. Expressed opinions are NOT necessarily the views of VT, other authors, affiliates, advertisers, sponsors, partners, or technicians. Some content may be satirical in nature. All images are the full responsibility of the article author and NOT VT.
