RH Announces Appointment of David Stanchak as Chief Real Estate and Development Officer
CORTE MADERA, Calif.--(BUSINESS WIRE)-- RH (Restoration Hardware Holdings, Inc. - NYSE:RH) today announced that David Stanchak has joined the Company as Chief Real Estate and Development Officer, effective immediately. In this newly created position, Mr. Stanchak will be leading the transformation of RH’s current legacy galleries into next generation Design Galleries, with responsibility for the Company’s real estate and store development efforts. Mr. Stanchak will report to RH’s Chairman and Chief Executive Officer, Gary Friedman, and serve as a member of the Company’s Executive Leadership team.
During his 30 year career in the real estate industry, Mr. Stanchak has worked as a senior executive, consultant, investor, real estate broker and attorney in all aspects of high-growth, retail brand development. He has had direct responsibility for opening more than 2,500 retail stores, managing real estate portfolios and deploying in excess of $2 billion for some of the largest retailers in the United States, including Dick’s Sporting Goods, DSW Shoe Warehouse, Blockbuster Entertainment, among many others.
Gary Friedman, Chairman and Chief Executive Officer, commented, “On behalf of the entire RH team, I am thrilled that Dave has joined RH. Dave’s tremendous leadership and extensive real estate expertise will be invaluable as we continue to execute on the number one priority for RH – the transformation of our real estate.”
“I am honored to join RH in this new role and have an opportunity to help lead one of the most innovative and revolutionary real estate transformations in retail. I look forward to working with Gary and the entire RH team,” said David Stanchak, Chief Real Estate and Development Officer.
RH (Restoration Hardware Holdings, Inc. - NYSE:RH) is a curator of design, taste and style in the luxury lifestyle market. The Company offers collections through its retail galleries, source books, and online at RH.com.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the federal securities laws, including statements related to Mr. Stanchak’s role at RH and the expected benefits to the Company as a result of this new role. 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; work stoppages affecting port workers and other industries involved in the transportation of our products; general economic conditions and the impact on consumer confidence and spending; changes in customer demand for our products; factors affecting our outstanding convertible senior notes; 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 “conflict minerals” compliance and its impact on sourcing, if any, 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 Securities and Exchange Commission on March 27, 2015, and similar disclosures in subsequent reports filed with the SEC, which are available on our investor relations website at ir.restorationhardware.com and on the SEC website at www.sec.gov. Any forward-looking statement made by us in this press release speaks only as of the date on which we make it. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
Cammeron McLaughlin, 415-945-4998
VP, Investor Relations
Source: Restoration Hardware Holdings, Inc.
Released May 18, 2015