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Lester to Retire from Williams-Sonoma
January 26,
2010 by in UnCategorized 
By Home Furnishings Business in Executive Changes on January 27, 2010
Howard Lester, chairman and chief executive officer of San Francisco-based Williams-Sonoma, plans to retire from his post at the retailer's annual meeting in May. He has been at the helm for 31 years.
Lester bought the company from founder Chuck Williams in 1978. At that time Williams-Sonoma had four stores, a small catalog and $4 million in revenue. Today, the retailer has six e-commerce Web sites, seven catalogs and more than 600 stores among its six brands.
Lester will continue to assist the company in a consulting and advisory role through December 2012 and have the title of chairman emeritus.
Upon Lesters retirement, the board will appoint Laura Alber chief executive officer as well as a nominee to the board of directors.
It has been an extraordinary privilege to lead this wonderful company for the past 31 years but an even greater privilege to watch the passion of our 27,000 associates delight our customers every day and together take our vision to a place that we could have only dreamed," Lester said. "I continue to be amazed by the creativity and entrepreneurship that lives within our culture. Todays announcement is the culmination of the long-term succession plan we set in motion upon my reappointment as CEO in July 2006. I could not be more proud of what we have built and have complete confidence that the company will continue to thrive under the leadership team headed by Laura.
Alber joined the company in 1995 and was appointed to her current role as president in 2006. Under her leadership, the company has created Pottery Barn Kids, Pottery Barn Bed + Bath, and PBteen, and the companys expansion into the Middle East. She has also played an instrumental role in the companys global supply chain, distribution, and logistics strategies, which are increasing product quality, improving customer service, and driving down costs.
It is an exceptional honor to follow in the footsteps of one of the most highly esteemed executives in retail," Alber said. "Howard has been an outstanding mentor, and he is retiring at a time when the foundation of the company has never been stronger. We are confident in our direction and, together with the leadership team, ready to execute against those strategies that will grow and improve our businesses, deliver great products and services to our customers, and enhance shareholder value.
The board intends to appoint Adrian Bellamy, the current lead independent director, as non-executive chairman of the board upon his re-election at the companys 2010 shareholders meeting. Bellamy joined the board in 1997. Bellamy has experience in retail as both an executive and as a board member, having served as chairman and CEO of DFS Group Ltd. for 12 years and on the boards of Gucci Group N.V. and The Body Shop. He also currently serves as a director of Gap Inc. and is chairman and director of Reckitt Benckiser plc.
Williams-Sonoma is what it is today because of Howards vision, boldness, and philosophy on what it takes to make a retail company greatjudging your performance by how your customer judges you," Bellamy said. "He is an icon in the industry and is leaving the company with a highly experienced management team, great momentum, and a legacy of core values on which the company was built. We thank him for his many years of service as Chairman and CEO and are looking forward to his continued involvement as an advisor.
The Board intends to renominate Pat Connolly, executive vice president and chief marketing officer, and a director since 1983, to the board.
In addition, the board intends to include Sharon McCollam as a nominee to the board. McCollam has been a strategic and financial leader of the company since 2000 and has served as executive vice president, chief operating and chief financial officer since 2006. In partnership with the executive team, she has shepherded the company through both high-growth and recessionary times and organizationally aligned shareholders interests with the companys strategic initiatives.