Alberini to Leave RH as Co-CEO

December 13, 2013  by in Furniture Retailing, Industry   

Carlos Alberini's resignation is effective Jan. 31 after which he will be chairman and CEO of Lucky. He will remain on Restoration's board of directors and remains a shareholder of the company.

Lucky Brand is being sold to Leonard Green & Partners, and the deal is set to close by the end of March.

"Carlos has been a tremendous partner to me personally, and while disappointed to not have our relationship continue in its current capacity, I am thrilled we will have the opportunity to work together at the board level in our quest to build one of the most innovative and admired brands in the industry," said Gary Friedman, chairman and co-CEO.

Restoration Hardware will be conducting a search for Alberini's successor.

"I have been presented with an opportunity to fulfill my lifelong dream to run and build a company," Alberini said. "Leaving RH has been one of the most difficult decisions I have ever made in my career. Gary and I have built an extraordinary relationship, which I treasure and will miss. These past few years with Gary and the RH team have been extremely rewarding and fulfilling and I am so proud of our accomplishments. I am honored and thrilled that I will continue to have the opportunity to serve on the board, and plan to remain a significant shareholder in what I believe will be recognized as one of the greatest retail stories of all time."