Crate & Barrel’s CEO Doug Diemoz has left the company, a company representative confirmed to MarketWatch. Diemoz had held the position for less than two years. The spokesperson did not explain the reason for his departure but said it had nothing to do with a pending lawsuit with RH
the furniture and home-furnishings chain formerly known as Restoration Hardware. RH filed suit against Crate & Barrel in January 2017 alleging that Diemoz tried to improperly hire RH executives, and that another former executive, Kimberly Ahlheim, left RH with confidential information, according to a Wall Street Journal report. Diemoz is also a former RH executive. Crate & Barrel, headquartered in suburban Chicago, is privately owned by a German company, Otto Group. The Chicago Tribune reported that it had obtained an internal memo stating that an Otto Group executive board member, Neela Montgomery, will assume “most” of Diemoz’s responsibilities, working with other members of the executive leadership team. A Crate & Barrel spokesperson did not confirm that information to MarketWatch. RH shares are up 53.2% for the year so far. The S&P 500 index
is up 4% in that period.
View more information: https://www.marketwatch.com/story/crate-barrel-ceo-doug-diemoz-leaves-the-company-2017-04-14