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06.02.2020 13:41:41

Lumber Liquidators' stock rallies after CEO Dennis Knowles resigned

Shares of Lumber Liquidators Holdings Inc. climbed 1.8% in premarket trading Thursday, after the hardwood floor retailer said Chief Executive Dennis Knowles had resigned, effective Feb. 5. The company said it appointed Chief Customer Experience Officer Charles Tyson as interim president and principal executive officer. Knowles' duties will be divided between Tyson and Chief Financial Officer Nancy Walsh until a permanent CEO replacement is found. The company affirmed its 2019 financial outlook. "On behalf of the entire Board, I would like to thank Dennis for his steady hand and tireless efforts in the face of many challenges during his tenure as CEO," said Chairperson Nancy Taylor. The stock has declined 32.5% over the past 12 months through Wednesday, while the S&P 500 has gained 22.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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